In this Throwback episode, host Josh interviews patent attorney Rich Goldstein about the importance of intellectual property (IP) protection for businesses, especially e-commerce sellers. Rich explains the differences between copyrights, design patents, utility patents, and trademarks, highlighting why registering trademarks in China is crucial for those sourcing products there. They discuss how IP protection helps prevent copycats, increases business value, and is essential for a successful exit. Rich also shares actionable tips for building an IP strategy and recommends resources for further learning. The episode concludes with advice on connecting with top experts in the Amazon and e-commerce space.

Chapters:

Introduction to Rich Goldstein and His Background (00:00:00)
Josh introduces Rich Goldstein, his experience, and his role in helping businesses obtain patent protection.

Josh’s IP Mistake and the Importance of Early Protection (00:01:39)
Josh shares his mistake of not getting IP protection early and discusses the risks of product copying on Amazon.

Copyrights vs. Design Patents for Product Protection (00:02:56)
Rich explains the difference between copyrights and design patents, and when each is applicable for product protection.

The Importance of Registering Trademarks in China (00:04:33)
Discussion about the risks of not registering trademarks in China and the potential consequences for e-commerce sellers.

Understanding Utility Patents (00:06:16)
Rich explains what utility patents are, what they protect, and how they differ from design patents.

Three Actionable IP Takeaways for Entrepreneurs (00:08:44)
Josh summarizes three key IP action items: trademarks, patents, and the value of IP for business exits.

The Value of an IP Budget and Learning About IP (00:10:25)
Rich emphasizes budgeting for IP as a business grows and the importance of entrepreneurs educating themselves about IP.

Recommended Thought Leaders in E-commerce (00:12:06)
Rich shares names of influential people and groups in the e-commerce and Amazon seller space.

Where to Find Rich Goldstein and His Resources (00:14:32)
Rich provides information on where listeners can find his website, book, podcast, and event updates.

Links and Mentions:

Tools and Websites
Goldstein Patent Law

Books
The ABA Consumer Guide to Obtaining a Patent

Podcasts
Innovations and Breakthroughs Podcast

Notable Individuals and Groups
Kevin King
Brandon Young
Titan Group
Norm Farrar
Danny McMillan

Transcript:

Josh 00:00:00  Today, I'm excited to introduce to you Rich Goldstein, who is on a mission to connect, protect, and educate. He helps small businesses, startups, and in e-commerce and digital marketers and inventors in their quest to obtain patent protection. Along with his team of attorneys. He counsels individual inventors and startups regarding the best steps to take for patent protection and when patent protection is available. Over the past 28 years, he has obtained more than £2,000 for his clients. And Rich is the host of the Innovations and Breakthroughs podcast and is the author of The Consumer Guide to Obtaining a Patent, published by the American Bar Association. So Rich, welcome to the podcast.

Rich 00:00:46  Thanks so much, Josh. Thanks. Thanks for the warm introduction. And and really great to be on your podcast.

Josh 00:00:51  Rich, I'm happy to say that we are a part of that number of 2000 plus, you know, patent successful patterns that you've been able to obtain and counting. Right.

Rich 00:01:03  And counting.

Josh 00:01:03  Yep. So thank you for your help and helping us get some of those design patterns that we've received for our business.

Josh 00:01:10  So rich. Absolutely is the man.

Rich 00:01:12  Absolutely. My pleasure. It's really exciting to see kind of what we're creating there in your company in terms of, asset value and protection, you know, against competitors. So, it's really cool. And someday we'll, we'll do a, you know, a Harvard business case study of some kind, to, you know, to take a look at what we've created here. I think it's pretty awesome.

Josh 00:01:39  Well, I think that's the hope for both you and I that we're creating some significant value in the long run. Now, Rich, I shared this on previous podcast episodes as I shared some of the mistakes that I've made along my journey. One of those mistakes that I've made was not getting IP protection whatsoever for many of our products for four years, right? We literally went for in our business for four years before, you know, you and I fortunately met. And you're like, dude, you've got to start doing something here. And we had a great conversation.

Josh 00:02:13  And now that we started getting copyrights issued for all of our products and then design design patents for some of our products, it's allowed us to actually protect more of our products, because prior to that, as many sellers know, as soon as you launch a product on Amazon, it's months, you know, sometimes as quick as a month later, sometimes 3 to 6 months later, you've got somebody copying your idea and being able to have something to protect yourself and even potentially get some of those other people knocked off or, you know, shut down their listings, I think is essential, especially as Amazon and e-commerce in general becomes more and more competitive. Would you agree with that, Rich?

Rich 00:02:56  Yeah, absolutely I agree, and it's funny you mentioned that, like, you, you could put something up there for a month and then you'll find the competition and it's, it's almost as if. Well, I mean, it is as if there are tools that say, you know, copy this or copy that.

Rich 00:03:10  There are analytics tools that, that, that point people in the direction of you when you're doing well. And so it's it's almost as if you're the software telling people, copy this guy, you know, and and so it really is, important to create as much of a moat as possible around, around what you're doing to prevent other people from, from copying you. and, you know, it's interesting to, like, in your case, like, a lot of your products are kind of content oriented, that copyrights are an option. for a lot of product ideas, copyrights are not really an option. They don't really provide, you know, covers don't provide protection for ideas. They provide protection for content type expression and then design patents, which you mentioned. Two are for the ornamental appearance for a product. The the look of a product. and I'd say the design patents are an issue for a lot are not an issue or an option for a lot of, sellers. Like if you have a product that has a unique look to it, then design patents are a good way to prevent other people from knocking you off by making a product that looks just like yours.

Rich 00:04:24  So, you know, they're both effective tools, for protecting you on Amazon. So, yeah, I agree with all of that.<...