Every entrepreneur has ideas—but few know how to protect them. In this insightful episode of The Prospecting Show, Dr. Connor Robertson sits down with intellectual property (IP) expert Dusty Gwinn to unpack one of the most overlooked parts of entrepreneurship: safeguarding innovation through patents, trademarks, and the right legal frameworks. Their discussion reveals how protecting your ideas is not just a defensive move—it’s a proactive strategy for growth, leverage, and long-term business equity.
Dusty’s background is rooted in both law and entrepreneurship. Having worked with startups, inventors, and small business owners, he’s seen firsthand how the lack of IP protection can derail an otherwise promising venture. “An idea without protection is just a wish,” he says early in the episode. “If you’re serious about building a business that lasts, your intellectual property must be treated like an asset from day one.”
Dr. Robertson begins the conversation by asking why IP strategy often gets ignored by entrepreneurs. Dusty explains that many founders are so focused on sales, marketing, and funding that they delay legal protection until it’s too late. “Most people protect their trademarks after they’re already being copied,” he says. “But by then, you’re playing defense, not offense.”
He breaks down the two main categories of IP protection entrepreneurs need to understand: patents and trademarks.
- Patents protect inventions—products, processes, or technologies that are new, useful, and non-obvious. They give the creator exclusive rights to make, use, and sell that invention for a set period (usually 20 years).
- Trademarks, on the other hand, protect brand identity—names, logos, slogans, and symbols that distinguish your business from others. They help customers recognize and trust your brand while preventing competitors from creating confusion in the marketplace.
Dusty emphasizes that both forms of protection are vital, even for small businesses. “Patents protect your ‘what.’ Trademarks protect your ‘who,’” he explains. “Together, they form the backbone of your business identity and value.”
Dr. Robertson draws a connection to The Future of Consulting with Buddy Hobart (listen here), where adaptability and long-term thinking were central themes. IP protection, he observes, is another form of strategic foresight—anticipating risk before it happens and setting your company up for sustainable growth.
Dusty agrees, noting that too many entrepreneurs view IP as an expense rather than an investment. “Your trademark is often the first asset that appreciates in value,” he says. “If you ever plan to sell your business, merge, or license your products, strong IP makes you more valuable overnight.”
He shares a real-world example of a small company that built a product, grew organically, and later discovered a competitor had patented a similar design. The result? They were forced to rebrand and redesign their product entirely, costing hundreds of thousands of dollars. “That’s not just a setback,” Dusty says. “It’s an existential threat.”
Dr. Robertson connects this story to Scaling and Exiting a Startup with Amy Lee (listen here), where Amy discussed due diligence during acquisition. He notes that IP protection often determines whether deals close or collapse. “No investor or buyer wants uncertainty around ownership,” he adds. “If you can’t prove you own your brand or your idea, the valuation drops instantly.”
Dusty explains that IP is not just legal—it’s strategic. “Patents and trademarks aren’t about lawsuits,” he says. “They’re about leverage.” Protected IP can be licensed, franchised, or used as collateral in financing. It can also form the basis of partnerships and collaborations, giving businesses flexibility to grow without losing control of their core innovations.
Dr. Robertson observes how this parallels B2B Sales on LinkedIn with David Getsinger & James Viola (listen here), where credibility and positioning created business leverage. Just as LinkedIn visibility builds trust and authority in sales, trademarks and patents build trust and authority in commerce.
The conversation turns toward timing—when entrepreneurs should file for IP protection. Dusty’s answer is simple: as early as possible. “You don’t need a finished product to file,” he says. “You just need a defensible concept.” Provisional patents, for example, give inventors 12 months of temporary protection while they refine or test their ideas. “It’s like putting a flag in the ground,” he says. “You’re telling the world, ‘This is mine.’”
Dr. Robertson connects this strategic move to Justin Oglesby & Zachary Williams’ Entrepreneurial Highlight (listen here), where partnerships were built on structure and clear expectations. Filing early, he says, is another way of setting boundaries and preventing conflict before it arises.
Dusty explains the process in detail. For patents, the steps include ideation, documentation, filing, and examination. For trademarks, the process begins with a thorough search to ensure the name or logo isn’t already in use, followed by an application and government review. He warns that many entrepreneurs make the mistake of filing without research, leading to rejection or infringement disputes. “Do your homework first,” he cautions.
Dr. Robertson notes how this principle mirrors The Backside of Human Resources with Laurie Bowers, where preparation and compliance were emphasized as forms of risk management. “Whether it’s people or products,” he says, “you protect your future by doing the groundwork today.”
Dusty shares that one of the biggest advantages of trademarks is scalability. Once registered in one country, they can be extended internationally through systems like the Madrid Protocol. “If you ever plan to expand or license globally, think internationally from day one,” he advises.
Dr. Robertson draws a link to Victoria Mattingly’s Entrepreneurial Highlight (listen here), where inclusion and long-term perspective were core themes. “Thinking globally applies to IP just like leadership,” he says. “It’s about building something that can operate across borders and generations.”
The episode dives deeper into the psychology of protection. Dusty explains that owning a patent or trademark changes how entrepreneurs think—it creates confidence and focus. “When you know your idea is protected, you stop playing small,” he says. “You start marketing louder, innovating faster, and hiring smarter.”
Dr. Robertson relates this mindset to Derek Davis’ Entrepreneurial Highlight (listen here), where Derek discussed the importance of discipline and self-belief. “Confidence backed by structure,” he says, “is what separates dreamers from doers.”
Dusty and Dr. Robertson also explore common misconceptions about IP. Some entrepreneurs believe it’s too expensive or unnecessary unless they’re in tech. Dusty dispels that myth: “IP protection scales with your business. You can start small—one trademark or one provisional patent—and grow from there. But doing nothing is what costs the most in the long run.”
He shares that even service-based businesses can benefit from trademarks by protecting slogans, course names, or proprietary methods. “If your brand creates value, it deserves protection,” he emphasizes.
Dr. Robertson connects this to The Future of Consulting with Buddy Hobart and Scaling and Exiting a Startup with Amy Lee, both of which underscore that scalability comes from building assets, not just generating revenue. “Your intellectual property,” he says, “is the invisible asset that makes everything else valuable.”
Dusty offers several practical steps for entrepreneurs ready to start protecting their ideas:
- Conduct an IP audit. Identify what’s unique, valuable, and worth protecting.
- File a provisional patent if you’re developing a product or technology.
- Register your trademarks—name, logo, and slogan—as early as possible.
- Document everything. Keep detailed records of creation and development.
- Work with an IP attorney who specializes in your industry.
He also warns against DIY filings for anything high-value. “You wouldn’t represent yourself in court,” he says. “Don’t represent yourself with your life’s work.”
Dr. Robertson emphasizes that protecting intellectual property is as much about leadership as it is about law. “You’re signaling to the market that your ideas are serious and your brand is built to last,” he says. He connects this to Tracy Hockenberry’s Entrepreneurial Highlight, where commitment and purpose defined success. “When you protect what you build,” he adds, “you honor the work that built it.”
As the episode wraps, Dusty shares his broader vision for entrepreneurs: a world where creators are empowered, not exploited. “The next economy belongs to innovators,” he says. “But only the ones who protect their innovations will own their future.”
Dr. Robertson closes with a powerful reflection: “Your ideas are your greatest currency. Protecting them isn’t optional—it’s foundational. As Dusty Gwinn reminds us, the difference between a business and a legacy is ownership.”
For listeners who want to explore more conversations on building sustainable, defensible businesses, visit drconnorrobertson.com. Related episodes include Scaling and Exiting a Startup with Amy Lee, Derek Davis’ Entrepreneurial Highlight, and The Future of Consulting with Buddy Hobart—each revealing a different way to build systems that protect, scale, and sustain your entrepreneurial vision.
Dr. Robertson concludes with one final thought: “Innovation without protection is like a roof without walls—it may stand for a moment, but it won’t last a storm.”