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In this video, the speaker discusses how he obtained his first patent at age 17 for the Snap Flips barbell collars. He outlines the process of applying for a United States utility patent, sharing his personal experience and the steps involved. Having started with limited funds, about $200, while in high school, he developed the idea for a barbell collar that secures weights in place and created several prototypes. He emphasizes that he will explain the patent application process step by step based on his own knowledge and experience.