ANSWER from Ed Tutle,
inventor and licensing expert.
First, don't focus on money as you will need to spend some before
you can make some!
Second, find someone who has some expertise in the product you
want to market, and disclose it to that person under a written
Confidentiality Agreement. If the person who has knowledge in the
product sees the inventive aspect of the product, then you might
want to seek utility and/or design patent protection. Use a patent
lawyer/agent as you are most likely not experienced enough to write
your own patent.
Third, use your time to develop a marketable product, evolve a
marketing strategy, and see who can and will build it for a given
market. Then be ready to spend some real money in going to market
so you can finally make the money.
* * * *
ANSWER from Mark Francis, Openize Ideas,
Inc.
There are several steps that you need to consider taking prior to
getting your product to market. The first of which is to see if
your idea is already patented or on the market. I would suggest
that you start with doing a search for your idea on the web. I
would start out by 1) using my browser and seeing what I could find
as far as similar products and 2) going to the government's patent
database (www.uspto.gov) and doing a "boolean" or key word
search.
It is possible that your idea may already have been conceived
and patented and maybe marketed. If you find it or something close
to it, go on to your next idea. If you do not, I would suggest
going to a deeper level on the patent search. You can do this by
doing a more thorough search at a patent depository library (again
you can find the location of such libraries at www.uspto.gov) or consider hiring a
patent attorney or patent agent to search it.
You may also find it helpful to read some books on the subject
of introducing your product to market. Several of the books outline
step by step processes.
* * * *
ANSWER from Carol Oldenburg, Administrator,
United Inventors Association of the USA
Your question didn't include at what stage you are in the
development of your product, so it's difficult to respond with
specific information. In general, though, if you're at the
beginning of this process it's always a good idea to have your
product concept evaluated for both technical and commercial
feasibility. This would also include a preliminary patent search.
There are a few recommended innovation assessment centers that can
provide this service for a relatively small fee, ranging from about
$175 to $500.
It's important at this point to be aware that there are also
several fraudulent invention promotion companies operating around
the country who will also offer to do an evaluation for around the
same price, but they will not be valid evaluations. Furthermore,
they will try to convince you to spend further monies to patent and
market your idea, regardless of its true feasibility. Your best bet
at this point is to contact a local inventors support group in your
area for guidance and referrals to reputable service providers. You
can also learn a lot about the do's and don'ts through reading and
a visit to the nearest Patent & Trademark Depository
Library(PTDL), where you can do your own preliminary patent search.
To contact a local inventors groups or to learn where your nearest
PTDL is located you can contact this office and we'll give you that
information. You can reach us at UIAUSA@aol.com
* * * *
ANSWER from J. Mark Davis, Inventor of the
Eggsercizer
First, I think you need to identify your market entry point. There
are three basic market entry points: (1) High End Markets (2) Mid
Level Markets, and(3) Mass Merchants. Each market has a margin for
the retailer and different profit margin for your invention.
Please identify your target market entry point. Without
disclosing your specific idea what market are you looking to sell
your idea to? Sporting goods, gift, medical, apparel, Jewelry
etc..???
Another note. To get your product to market you need to attend a
trade show for your target market.
* * * *
ANSWER from Bob Bell, Patent Attorney
Tough question! One problem you might have is in trying to attract
a manufacturer or licensee. A minor (those under 18) can repudiate
most contracts upon reaching majority (age 18) in most States.
Thus, any contract you sign now could be repudiated next year.
Needless to say, it would be difficult to find someone willing to
sign a contract with you at this point! Regardless of your age,
promoting and developing a product is difficult. A good first step
is to preserve your rights to the invention by carefully
documenting your invention process. Save all notes, notebooks,
sketches and schematics. Write up a description of the invention
and date and sign it, and get someone to *witnes* it with the
notation "Reviewed and understood by me" with signature and
date.
Also bear in mind that your patent rights in the U.S. are void
if you do not at least file a provisional application within one
year of the date of first sale, offer for sale, public use, or
publication. To preserve foreign rights, you need to get your
patent on file before *any* sale, offer for sale, public use, or
publication.
I say that to advise you of the law, *not* to encourage
patenting. Obtaining a patent is an expensive and time-consuming
process. Before taking that step, you might want to do some
research to see whether your invention has been thought of by
others. Try the USPTO website at www.uspto.gov and look for their
advanced Boolean search engine. Also try the IBM website. What you
lack in expertise, you may be able to make up for in time to devote
to the search. Clean copies of patents can be downloaded to your PC
for $4.95 apiece from Micropatent (www.micropatent.com). As a
Patent Attorney, I can only advise you as to the patent aspects.
Others will have better advice for you on how to promote or sell
your invention. |
