Joe Powell, founder of Integrated Heat Treating Solutions in Akron, Ohio, developed a new heat-treating process that supplied threefold benefits: it could dramatically improve the durability and longevity of parts treated with his new methods, reduce the environmental impact by substituting certain processing materials and help owners/operators save time by eliminating a step used in traditional heat treatments. Powell’s goal was to license this revolutionary approach of heat-treating metal parts and supply his services as a consultant for facilities interested in implementing these processes in their own operations. As a first step, Powell needed guidance to help protect his intellectual property, the most vital asset in his business plan.
Powell first became acquainted with the firm of Edwin A. Sisson, Attorney at Law, LLC, of Medina, when he attended the Firm’s seminar on “Protecting Your Competitive Advantage Through Intellectual Property.
Sisson IPR Law is unique among its peers because it brings a business approach to protecting and promoting the monetization of intellectual property, while supplying its services on a flat-fee basis. Sisson says that one of the first questions posed to an inventor or small business owner is, “how do you intend to make money off of your patent?” The answer to this question helps drive development of the business plan as well as legal filings and actions designed to achieve the goals of the business owner or inventor. While each individual might answer that question differently, identifying their goals is a critical first step towards achieving success.
Sisson IPR Law directed the majority of its efforts helping Powell focus his ideas into a format with commercial potential. The goal was to protect and secure the competitive advantage inherent to Powell’s intellectual property/invention.
This intellectual property protection isn’t solely about patents, trademarks or trade secrets, but all of them in combination. On behalf of Integrated Heat Treating Solutions, Edwin A. Sisson, Attorney at Law, LLC:
- Consults with the client on an almost weekly basis
- Has filed several patent applications around the world
- Formulated a commercialization strategy which is protected by a combination of trade secrets, patents, trademarks, and contracts
- Provides counsel about the proper and advantageous structures for deals/mergers
Today Powell has a great working relationship with Sisson Law. He has a more complete picture of the potential of his invented process and how multiple industries/businesses that could benefit from its proper use and application. Currently, the client is conducting trials to help formalize and document the benefits of his process to better display its advantages to potential customers.
Flat Fee Philosophy
In addition to its intensive background focused on intellectual property, Sisson offers another unique benefit to its clients via its flat-fee philosophy. The amount of the flat fee is mutually agreed upon by both parties and covers the majority of the types of services provided by the firm. A flat fee helps eliminate the “surprises” and hassles inherent to an hourly billing structure. It also enables the partners at Sisson Law to become proactive members of the business team. A proactive approach frees up clients to involve the law team early in the process of business development to hammer out or forestall potential legal issues, supplying more options and resulting in fewer costs than a reactive approach after a legal issue has grown or developed unnecessarily.
The End Game
If you own a viable business, there is intellectual property that needs protection. This protection, when done right, protects your competitive advantage to grow your market. Are you satisfied with your IP attorney? Give us a call at (330) 598-1799 to learn more about what we do and how we do it.
Testimonials from Joe Powell:
Ed, you are a Leonardo-Edison for your IP clients. Not only can you see and share your clients’ visions on how their invention can be implemented in a product, you also help them protect our IP during the long optimization process; as the process flows from ideation through R+D towards full commercialization and the flow of the clients’ new River of Cash.
The whole purpose of IP is to make money for the investment of time and money invested in an idea before the inventor dies!
You have seen my Codex and know all the hours of noodling that goes into perfecting the “whole product” that can be marketed.
If your patent attorney doesn’t protect the ideas from their inception to throughout development to its commercialization and sales to the end users, the inventor’s dream becomes a cruel joke as someone else makes all the money!