Having control over both the design and utility patents gave the Pedrazzi family a huge competitive advantage over the lunchbox industry and made them a desirable company to invest in. Investors, especially those on Shark Tank, aren’t stupid. They made their fortunes by being pack leaders. They understand those patents protect the product from being duplicated in either design or usability.
Often times, new inventors make the mistake of only filing for one or the other patent, assuming it is completely protected, but this is not the case. A design patent protects the way the invention looks and the process in which it is made whereas the utility patent protects the way the invention is used or works. If the Pedrazzi family only patented the design of their lunchbox, they would have left room for already established lunchbox manufacturers to swoop in and create another lunchbox design that also could be washed in the dishwasher. Vise versa, if they had only patented the utility, then competitors could copy their unique box design. Do you see now why both are very important?
It is especially important to patent both when entering an established market. Lunchboxes have been around for decades. The Yubo Company simply took an old concept and gave it a refreshing new look and use. It would be quite easy for existing manufacturers to duplicate their idea. Manufacturers already have the facilities and channels in place. By securing the both patents protects the fledgling company from domination and allows the company to grow. The Pedrazzi family made the right decision to file for the design and utility patent of their lunchbox and as a result of their smart decision they walked away from the Shark Tank with investment money in hand with exactly the terms they wanted.
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