There are actually three types of patents. Two types are very common but it’s the third type of patent that is not common that I was able to tell my new client about to help increase the value of his business.
My name is Michael Barbarita from Next Step CFO with the Know Your Numbers Minute.
The most common types of patents are utility patents when one is seeking protection for the use of an invention and a design patent when one is seeking protection for the design of an invention.
My new client is a florist and I introduced him to the 3rd and most unpopular type of patent and that is the plant patent granted for any reproducible plant. He never knew about it.
And remember, the most successful business owners know their numbers.