I bought these Doraemon Jibbitz from Parkson, 1 Utama at rm8.90 per piece!!!

If you have heard about the Jibbitz’s story, you should read Rich and Sheri Schmelzer’s story about how they created this item from their home and subsequently acquired by Crocs for US20 million. One of the Schemelzer’s kids was at a local pool when one of the founders of Cros spotted the Jibbitz. He gave the kid his card and the rest was history.

The Schemelzer ensured that they filed patents and design patents (in Malaysia, it is called an industrial design) to protect their invention before releasing it. You can read their patent and design patent specification below:

Patent: System and method for securing accessories to clothing
Patent: SYSTEM AND METHOD FOR SECURING ACCESSORIES TO WEARABLE ITEMS
Design patent: Shoe accessory.

Clear example how IP protection raked millions. If they didn’t file a patent, Crocs could have just copied the idea without paying a single royalty.

Unfortunately, many people are put off with the cost of filing a patent. The initial stage for filing a patent in Malaysia could costs RM5000 – RM10,000. Nevertheless, one can always find someone to finance it e.g. a venture capitalist.

This bring me to the question on how we could apply such business principle into the legal profession. How was a lawyer ride on another successful business to attain a certain level of success. Let me put on my thinking cap…

Related posts:

1. new climbing shoes!
2. APAA 2008
3. End of a Headache
4. Hectic Week
5. Edible Doraemon

Tags: Doraemon

This entry was posted by xes on Friday, December 4th, 2009 at 8:35 pm and is filed under Doraemon, Legal. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.