An innovative Midlands-based entrepreneur, who successfully secured investment from the Dragons’ Den, has warned that failing to budget for legal advice may mean losing out in the marketplace.
David Bailey, inventor of the ‘Motormouse’ range of computer mice, sought expert advice from intellectual property experts Forresters before appearing on the BBC show where he secured an investment of £120,000 from Dragon James Caan.
“My first encounter with Forresters was 15 years ago, when they helped me patent a product and bring it to market,” Mr Bailey explained. “In 2009 when I needed protection for Motormouse, I went straight back to Forresters as their knowledge and professionalism is terrific.”
Forresters’ patent attorney and partner Matthew Shaw secured intellectual property, brand name and logo protection for Motormouse, a company which distributes computer mice based on classic cars. “Protecting intellectual property is essential for inventors, designers and entrepreneurs as it is often the first thing potential investors look for – both on Dragons’ Den and in real life,” said Mr Shaw.
Mr Bailey added: “My advice as an entrepreneur is that if you don’t budget for legal advice, you put your product at risk and you could well lose out on investment. When you launch a new product you may come across unscrupulous people, so protecting your invention cannot be an afterthought.”
Forresters has continued to support Motormouse and recently attending a major exhibition at very short notice to deal with an infringement.
“We’re able to rely on Forresters to handle any problem thoroughly while we get on with business,” added Mr Bailey.