Episode Overview
Victor explains the basics about patents, including the difference between a "design" patent and a "utility" patent. The latter of the two is the one he says private label business owners should go after.
As many of you know, I've often said that as private label brand owners, we are not inventors. Victor makes me re-think that approach, as he shares valuable information on the ways that a patented product basically eliminates competition and solidifies your brand. In addition, it can make you much more appealing to additional retail and wholesale channels.
Victor goes into depth on the process of filing for a patent and the steps to take in order to do so. His advice: find a large law firm to represent you, and make sure they know their stuff!
Perhaps Victor's most important gem comes in the form of explaining that normal private labeling required finding a product, making your brand of it, and then "pushing" it into the marketplace. With a patent, he explains, the market will instead "pull" your product in. Very powerful!
Guest Contact Information:
Victor does some consulting with private label brand owners serious about using patents to grow their brands. You can contact him through Facebook: https://www.facebook.com/VictorMKasatshko?fref=ts&ref=br_tf
