MISSED OPPORTUNITY TO PATENT

Frank Bannigan, managing director of Kambrook, developed the electrical power board in 1972. The product was hugely successful and was the basis for Kambrook’s growth […]

Frank Bannigan, managing director of Kambrook, developed the electrical power board in 1972. The product was hugely successful and was the basis for Kambrook’s growth to become a major producer of electrical appliances.

However, the power board was not patented and Kambrook ended up sharing the market with many other manufacturers.

THE LESSON: PATENT YOUR IP

According to Frank Bannigan, ‘I’ve probably lost millions of dollars in royalties alone. Whenever I go into a department store and see the wide range of power boards on offer, it always comes back to haunt me.

Today Kambrook has a number of patents and pending patent applications for improvements in a range of consumer goods.

 

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