Although subtle, there is a keen difference between invention and innovation. Utility represents this distinct difference between innovation and invention. Albeit important, inventors generally spend their fortunes on their ideas whereas innovators create fortunes from their ideas. Our goal is to help you become more than an inventor. Since innovation is generally considered the actualization of an invention, and we claim as a promise to innovate continuously, are we hypocrites? If we don't listen to you and develop tools, reports, and lenses that have meaning to you, indeed we would be. Only you can decide that for yourself. However, our commitment to you is to continue innovating tools and services that help you rationalize IP asset class. While previous analytical tools focused on finding data, our tools are built to help you both find and then undertand what you found. Our data and technologies are only vehicles to help us deliver on our promise — we create actionable business intelligence from patent documents.

Utility patents protect inventions that are a novel, nonobvious, and useful, such as: process innovations, machine innovations, manufacturing innovations, compositions of matter, or incremental improvements from foundational innovations. The three patentability requirements: New and Novel: For a United States patent the invention must never have been made public in any way, anywhere in the world, a year before the date on which an application for a patent is filed. In other countries, you have no one year grace period and require absolute novelty. Original and Nonobvious: An invention involves an inventive step if, when compared with what is already known, it would not be obvious to someone with a good knowledge and experience of the subject, for example, if you just make cosmetic changes that is obvious. Useful: This means that the invention must take the practical form of an apparatus or device, it has to do something.

Take the quiz and test your intellectual property intelligence. For example do you know, Which of the following mechanisms provides to an inventor the right to exclude others from making, using, or selling the invention? Would the answer be copyright, trademark, non-discloser agreement or patent? Take the quiz on www.ipstreet.com and find out!

No one has a crystal ball to predict ultimate success, but with IPstreet.com, you can "demystify" the complex data and landscape IP so you can make better business decisions. Identifying potential revenue streams is important in your ultimate choice of GO/NO GO in regards to secure patent protection for your invention. To be pursued wisely, a patent is going to cost a minimum of $10K. IPStreet.com's patent search tools are designed for inventors, intellectual property strategists, investors and IP counselors.

If the complexities of legalities seems simple, you may want to consider becoming a patent agent or patent attorney. If you are a do-it-yourselfer (DIY), you may want to get David Pressman's book "Patent it Yourself" or David Hitchcock's book "Patent Searching Made Easy". If you are like the rest of us, this process does not seem simple. Sure it may cost some money to engage someone to guide you through this process, so you need to carefully consider your innovation in context of (1) is it patentable? and (2) is it a viable business opportunity? It may, however, be in your best interest to learn as much as you can about the system and then hire a competent patent attorney to get the job done. Just think what it would cost to great idea, poorly patented, which may ultimately cost you "like a bigillion dollars in lost royalties or something like that."