The host had just set patents up as the standard defence against copycats and big-brand knockoffs, and asked him for advice for entrepreneurs. Jordan answers against the premise. In the turns that follow he describes a decade of putting patent-pending on every other word of his website and spending the money on lawyers and lawsuits, and says the same time and money in the product and the customer experience would have taken him further.
now. Stop right now. You need me very badly. I know how to sue people.
So the number one reason you get a patent in the first place is to protect yourself against copycats and big companies, like he mentioned, Calvin Klein and some really big ones that can come in and do that. Any thoughts right here for entrepreneurs?
Hans, I made a huge mistake pursuing the patent strategy from the beginning of this business.
Okay, he made a huge mistake. Listen up because most people don't say that. Go ahead.
Yeah, most entrepreneurs feel that they need to protect their technology and their idea. And God forbid someone's going to compete with you and it was your idea and they stole your idea. So for the first 10 years of my business, maybe more, every second word on my website was patented or patent…
And that's not what IP attorneys tell you.