From Startup To Scale-Up: IP-Driven Innovation With Cliff Budnick The Patent Hacks podcast

From Startup to Scale-Up: IP-Driven Innovation with Cliff Budnick

9d ago 47:46

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In this episode of the Patent Hacks Podcast, I sit down with Cliff Budnick, president and general manager of Innovate Technologies, to unpack the lessons of entrepreneurship, innovation, and the powerful role patents play in building and protecting a business. From launching his first startup in the custom partyware space to leading a multimillion-dollar HVAC solutions company, Cliff has lived through every phase of product development and IP strategy.

We talk about the real-world implications of patenting, navigating cash flow challenges, and building a strong team through thoughtful delegation. Cliff also pulls back the curtain on how Innovate leverages in-house inventions, licensed products, and strategic acquisitions to grow their IP portfolio and market reach. If you want to understand how innovation and intellectual property drive sustainable growth, this one is a must-listen.

Timeline Summary:

[1:10] - Cliff shares his startup journey and lessons from his first company

[6:34] - The cash flow trap: Net 90 terms and their hidden impact

[11:42] - Transitioning to Innovate and building an IP-focused culture

[15:20] - Offensive vs. defensive patent strategies in real-world business

[19:56] - Innovate’s product development pipeline and provisional patent strategy

[24:31] - Mistakes, delegation, and the 60% rule for scaling effectively

[31:02] - Evolving from in-house IP to licensing and third-party products

[38:45] - Defending IP against infringers and the costs of enforcement

[46:12] - How patents impact valuation during M&A and investor interest

[50:08] - Communicating ideas to attorneys and vetting prior art

[54:36] - Cliff’s advice to early-stage and scaling inventors: embrace failure

Links & Resources:

Cliff’s LinkedIn: https://www.linkedin.com/in/cliff-budnick-mba-bb277011/
Cliff’s Website: https://inovate.com/
Patent Hacks Website: https://www.patenthacks.com
Trevor Skene LinkedIn: https://www.linkedin.com/in/trevor-skene/

Closing:

Thanks for tuning in to this episode of the Patent Hacks Podcast! If you found Cliff's insights helpful, please take a moment to follow, rate, and review the show. And don’t forget to share it with fellow founders, product leaders, or anyone navigating the world of IP and innovation. See you in the next one!

18 episodes