Launch Your Product: Stephen Key Has Spent $500,000 on Patents. Here's What He's Learned

Stephen Key has spent approximately $500,000 on patents over the course of his career as a product developer. Some became extremely valuable. Others taught him when a patent may not be worth the investment.
With more than 29 patents to his name, Stephen has filed internationally, defended his intellectual property against LEGO in federal court, and sold a patent portfolio for millions of dollars. In this video, he shares what those experiences taught him about using patents from a business perspective — whether you're licensing a product, building a company, or trying to determine how much intellectual property you actually need.
You'll learn:
When a patent can add real business value — and when it may not
Why Stephen often starts with a provisional patent application
Why validating your idea and understanding its point of difference should come before spending heavily on patents
How prior art nearly derailed Stephen's opportunity with Procter & Gamble
What a federal patent dispute with LEGO taught him about the realities of enforcement
Why detail, drawings, variations, and workarounds can make your patent strategy stronger
Stephen also explains why he views patents as valuable selling tools — helping create opportunities with licensees, investors, and business partners — rather than simply documents that sit on a wall.
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Chapters
00:00 Do Patents Really Protect Your Invention?
00:16 Why Stephen Key's Patent Experience Matters
01:57 What Stephen Learned From Spending $500,000 on Patents
03:03 How Much Does It Cost to Defend a Patent?
05:00 When Is a Patent Actually Worth It?
08:28 Should You Validate an Idea Before Filing a Patent?
09:03 What Is a Provisional Patent Application?
10:01 Why Stephen Doesn't Recommend Starting With a Full Patent
11:10 How to Make a Provisional Patent Application More Valuable
12:06 How Patents Can Help You License an Invention
13:00 Can You Use AI to Write a Provisional Patent Application?
14:04 Why You Should Do a Prior Art Search
16:02 What Procter & Gamble Taught Stephen About Prior Art
22:00 How to Write a Strong Provisional Patent Application
23:02 Why Detail Matters in a Patent Application
24:12 Utility Patents vs. Design Patents
26:03 Can a Patent Really Stop Someone From Copying You?
27:55 How to Choose the Right Patent Practitioner
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