Innovation and Inventions Entrepreneurship 30

Choosing a venture Entrepreneurs may seek a business venture in one of two ways: Idea-Driven Enterprise The idea an/or innovation or invention comes first. Then you need to find if enough people actually want, need and would purchase it to earn a profit. Market-Driven Enterprise Look for existing opportunities where there is a need, or a want for a particular kind of product or service. Follow trends in the market: tech, social, health, fashion, economy, political, legal… Competition: does it exist, if so how will yours be different from competition….

Good Ideas Need to be innovative Satisfy a need or a want No one has thought of before Has never been made to work before Satisfy a need or a want Improvement/Enhancement Ways to find new ideas? How well do you observe? Looking for patterns (food, fun, jot ideas down!)

Where do you look for new ideas Where do you look for new ideas? START LOOKING AND THINKING ABOUT THINGS! RESEARCH! TALK! TAKE NOTES!

Observation Test Take this test with a partner and discuss the results. What kinds of things are you good at observing? Not so good? With your partner, discuss techniques people can use to improve their observation skills. Source: Pg. 91 If you were looking for an odd-numbered address, would you look on the north or the south side of the street? What colour are the walls in the hallway outside your classroom? How many cupboard doors are there in your kitchen at home? How many places are there to buy coffee within 1 km of your school? Describe what your teacher wore to class yesterday? Name 10 things you can see from your locker. About how many steps is it from one end of the school to the other? Name one new business that recently opened in your community. When you enter the mail office at school, does the door swing in or out? Look carefully around your classroom. Name one feature of the room that you never notices before.

Kauffman Sketchbook – “The Itch”

What if? This? Or ThaT? INVENTION INNOVATION Creation of something new (product or process). By accident (silly putty). Solution to a problem. Not all inventors are entrepreneurs. Some inventions do not make it to market. Is a change to something that already exists. By accident or by design Often benefit from building on what inventors have already done. Most innovations arise out of seeking a competitive advantage over another business.

Examples of Inventions Examples of innovations Velcro Television Radio Internet Toboggan Tractor Basketball Lacrosse Yo - Yo Telephone Kayak Frisbee Automobile Birch Bark Canoe Photocopier Camera Lie Detector Helicopter Cornflakes Slinky Hula Hoop Zipper Crayons Electric Shaver Coloured Ketchup Instant Coffee Cell Phone Smart Phone Smart TV Pop-up Toaster Tea Bag Band-Aid Disposable Camera Digital Camera Chocolate Chip Cookie Roller Blades Barbie Doll Contact Lenses Drive-in Theatre Netflix Cake ix Canned Bear Teddy Bear Toyota’s Hybrid Car Pez Candy

https://www.youtube.com/watch?v=2ETF5vTOFao http://divemar.com/Divemar/docs/fox_story.html

Home Innovations http://www.gizmodo.co.uk/2015/04/11-smart-home-innovations-to-turn-your- house-into-the-jetsons-pad/

Canadian Inventors Basketball by James Naismith in 1891 Chocolate Nut Bar by Arthur Ganong in 1910 Electric Light Bulb by Henry Woodward 1874 Garbage Bag by Harry Wasylyk in 1950 Goalie Mask by Jaques Plante in 1960 Gramophone invented by Bell and Emile Berliner in 1889 Radio-Transmitted Voice by Reginald Fessenden in 1904 Snowblower by Arthur Sicard in 1925 Snowmobile by Joseph Bombardier in 1922 Standard Time by Sir Sanford Fleming in 1878 Television by Reginald Fessenden in 1927 Lawn Sprinkler by Real McCoy 5 Pin Bowling by T.E. Ryan in 1909 Ear Piercer by Thomas Ahearn 1882 Zipper by Gideon Sundback in 1913

Protecting your ideas Entrepreneurship 30

IP Information Why should you have an intellectual property strategy? https://www.ic.gc.ca/eic/site/cipointernet-internetopic.nsf/eng/wr03824.html 2:52 How to register a trademark (Canada) … what is the difference? https://www.youtube.com/watch?v=IVYAOy466vs

Protecting your ideas The hardest part can be coming up with a good idea, invention or innovation. Once you come up with your idea, there are a number of ways to protect it so potential competitors can’t take advantage of it. Canadian Intellectual Property Office Flash of Genius – trailer In Canada there are several ways to protect your intellectual property. Intellectual assets are what we call "intangible" assets. They include inventions, new technologies, new brands, original software, novel designs, unique processes, and much more. These assets have value in the marketplace very much like tangible assets, or assets that you can hold in your hand.

What to do? Protect: Patent/Copyright Decide to: License the idea Franchise it Produce it Sell the rights to someone else

patents A grant made by the government that gives the creator of an invention (product or process) the sole right to make, use and sell the invention for a set period of time. Usually 20 years 90% of patents are improvements to existing patented inventions. Fees associated to patents/Legal fees as well Many businesses will try to get around a patent by making “improvements” on the existing product. Patent Infringement - sue

copyrights Copyright provides protection for: Literacy works Musical works Artistic works Software … creatopms All Canadians hold the copyright to any original work they have created. Copyright Act – can’t use without their permission. Copyright is a legal right created by the law of a country that grants the creator of an original work exclusive rights to its use and distribution, usually for a limited time. (Wikipedia) Footnotes/Endnotes/Bibliography Today: Movies/Music/Piracy/Napster/Artwork-reproduce/sell

Trademarks A trade mark can protect a combination of words, symbols, sounds or designs used to distinguish your goods or services from those of others in the marketplace. Valuable b/c they have come to represent the reputation of the producer as well as the products that bear them. Original Marks: are words or symbols that distinguish the wares or services of a specific firm or individual Certification Marks: identify wares or services that meet a defined standard. Distinguishing guises: refer to unique shape of a product or its package (ex: coke bottle design)

Mascots/characters/packaging Cadbury loses five-year battle with Swiss rivals Nestle to trademark the colour PURPLE on its chocolate bars Read more: http://www.dailymail.co.uk/news/article-2443740/Cadbury-loses-year-battle-Swiss-rivals-Nestle-trademark-colour-PURPLE-chocolate-bars.html#ixzz3n6BrJlVa  Follow us: @MailOnline on Twitter | DailyMail on Facebook

Industrial design act An industrial design is anything made by hand, tool or machine that has distinctive features, such as the shape of a chair or the decoration of the handle of a spoon. One a design is registered the designer, called the proprietor, has exclusive rights to the design for a 10 year period.

Disputes and Court Cases Tonnes! Hangover 2 - tattoo

Mattel Inc. v. MGA Entertainment Inc . Mattel Inc. v. MGA Entertainment Inc. Barbie was 42 years old when the exotic, puffy-lipped Bratz dolls Cloe, Jade, Sasha and Yasmin strolled onto the scene in 2001. Tensions escalated as the Bratz seized about 40 percent of Barbie’s turf in just five years. The Bratz struck first. In April 2005, their maker MGA Entertainment filed a lawsuit against toy powerhouse Mattel, claiming that the line of “My Scene” Barbies copied the big-headed and slim-bodied physique of Bratz dolls. Mattel then swatted back, accusing Bratz designer Carter Bryant for having designed the doll while on Mattel’s payroll. Bryant worked for Mattel from September 1995 to April 1998 and then again from January 1999 to October 2000, under a contract that stipulated that his designs were the property of Mattel. In July 2008, a jury ruled in favor of Mattel, forcing MGA to pay Mattel $100 million and to remove Bratz dolls from shelves (an injunction that lasted about a year). But the two toy companies continued to duke it out. This April, in yet another court case, underdog MGA prevailed, proving that Mattel was actually the one to steal trade secrets. 2011 Read more: http://www.smithsonianmag.com/history/ten-famous-intellectual-property-disputes-18521880/#GDlkWk9GdBoBpS2Q.99 Give the gift of Smithsonian magazine for only $12! http://bit.ly/1cGUiGv Follow us: @SmithsonianMag on Twitter

Integrated circuit topography act Electron integrated circuits or IC products that are configured and interconnected. Give the creator exclusive rights for a period of 10 years after registration.

Quiz – Hand in ASAP Name Date What is the difference between inventions and innovation? List four places where entrepreneurs can gather ideas? What is the name of the Canadian agency in charge of patents and intellectual property? Define the following terms: Patent Copyright Trademarks Industrial Design Act

Canadian Hall of Fame entrepreneurs William & Alfred Billes – Canadian Tire Armand Bombardier – Bombardier George Cohon – MacDonald’s Canada Timothy Eaton – Eaton’s K. C. Irving – Irving Empire Lord Thompson – Hudson Bay & Thompson Empire Wallace & Harrison McCain – McCain Foods Ed Mirvish – Honest Ed’s Frank Stronach – Auto Parts Garfield Weston - Weston’s Guy Laliberte & Guy Caron – Cirque du Soleil

Roles Manager Administrators Entrepreneur 4 components Planning, assigning, implementation, evaluate Administrators Have none of the characteristics of an entrepreneur – their task is to ensure that the business continues to function smoothly Day-to-day execution of repetitive tasks and assignments Entrepreneur Undertake initial risk, creativity, organizations, business plan, … Need, want, opportunity

Role Demands of a Business Venture Inventors Play an extremely important role in developing new products and services Self-motivated, strong commitment to success, cope with setbacks, work alone, reject the conventional way of doing things, desire to try things completely new Must be prepared to face criticism, frustration, and disappointment Poutine/snowmobile 1937 ? Canadian Inventors - http://www.dealathons.com/blog/2011/05/09/10-canadian- inventors-who-changed-the-world Fox 40 whistle - http://www.foxnews.com/sports/2012/04/04/fox-40- pea-less-whistle-story/ Concussions - https://www.triaxtec.com/sim-p/

Roles Innovator Do not necessarily develop something entirely new or different, but may simply create an improved way of doing business Ex: grocery shopping by phone/orders – innovators Ex: Henry Ford did not invent the automobile but his innovative methods of _________________________________ revolutionalized the industry (lean approach). Youth is on your side – new ways of thinking of things or how to do things. http://www.entrepreneur.com/article/236621 (cars, keyboards, ads, clothing)