Any suggestions appreciated

[wildbirds]

I have an idea for a new product that I think would be a huge hit and could really turn into something big. I've never tried to market any product before and have no idea where to even start. Anyone have any experience with this sort of thing or do you have any suggestions for me. I really believe in this product and am so sure it will be a big seller that I'm willing to work hard at making it work. It's not something that I can make so I'd need some help finding someone to produce it. Thanks in advance for your help.

[Ravzie]

I'd like to know too!! I don't think I want to pay "Inventors Submission Corporation"....

[LLamas]

You should check to see if someone else already has a patent on whatever your product is going to be. The website for the government's Patent and Trademark Office is: http://www.uspto.gov/ and you can search for patents through the site. If there is no patent for your product, then get a patent as quickly as you can, and don't tell anyone but your attorney what your idea is. Most attorneys have free initial consultations, and you can find out at that time what it will cost you to get the patent, etc. I can't begin to tell you how important it is that you not even tell your best friend your idea; it isn't easy to prove your idea was stolen, and it happens more often than one would think.

Good luck to you!

~Beth

[LLamas]

Some people search patents to see if there is one out there that isn't currently being produced, and will then approach the patent holder to try to make a deal for producing the item. An attorney who does patent work may also be able to put you in touch with reputable people who can help you make your product.

~Beth

[ResourcePress]

Exciting about your idea! You will need all of your work & enthusiasm because typically it is years from idea to product. My cousin just got a patent for a new skateboarding wheel design and it looks like he could make some really good money. A friend of ours did not pursue a patent for the sunblock that changes color. Long story, but get a patent. There must be someone that you can trust to assist you in this. Start with an on-line search at the website given above. Not sure where you live but if close enough to Washington, DC, you could go and search the new ones (these are not listed on the website).
You will also typically need a lot of money too, to pay for prototypes, for a lawyer, and for filing fees for the patent.
Much success in your new work!

[wildbirds]

Thanks everyone for your help and thanks LLamas for that website. I didn't find anyone who has anything close to what I'm doing so I guess that is a good start. The fees are pretty high, might have to put my house in hock but it would be well worth it if I can get this thing off the ground. In most cases that website was over my head so guess I need a lawyer first and then go from there. Thanks again for your help. Keep the suggestions coming!!!

[edtarboosh]

You should check to see if someone else already has a patent on whatever your product is going to be. The website for the government's Patent and Trademark Office is: http://www.uspto.gov/ and you can search for patents through the site. If there is no patent for your product, then get a patent as quickly as you can, and don't tell anyone but your attorney what your idea is. Most attorneys have free initial consultations, and you can find out at that time what it will cost you to get the patent, etc. I can't begin to tell you how important it is that you not even tell your best friend your idea; it isn't easy to prove your idea was stolen, and it happens more often than one would think.

Good luck to you!

~Beth

First, good luck with your invention! As someone who has 8 patents whose products have generated over $60MM in revenue, I can tell you that you will have a wonderful and terrible roller coaster ride getting your idea to market. But if you are patient, persistent, and careful, it will be well worth it assuming your idea is marketable.

I agree with LLamas that you need to do a patent search. But a self-search will only get you so far. Eventually, you will need to have your patent lawyer do an in-depth search which should cost $2000 - $3000. A good patent lawyer (pick one with care!) will insist on this before filing a patent. Depending on the type of patent and number of claims, expect to pay $8000 - $25K for a patent. This is costly but necessary if you really beleive in your invention. Don't make the mistake of going to an invention service or filing a do-it-yourself patent.

If you do the search yourself at first, don't automatically give up if you find a patent describing something similar or even identical to your idea. I have been amazed in my own searches to find patents describing ideas similar to mine only to have my patent attorney tell me that mine was truly different and protectable. The key to the uniqueness of your invention my lie legally in something you do not fully realize or appreciate.

Finally, you need to think seriously about how you will protect your invention while getting it to market. A patent only goes so far and it takes years to get one. So you have to take the proper steps in the interim. I'm not sure I agree with Llamas about strict confidentiality if you do things right (consult your patent attorney). You need to think about if and how you plan to take this to market. If, as is usually NOT the case, you have the wherewithall to take this fully from idea, through production, to Walmart, then by all means, keep it as secret as possible. But most inventors need vast help from investors, production facilities, and marketers/advertisers to get their idea out there. You can't avoid disclosure under these circumstances. Under US law, you have one year to file a patent from the date of your first public disclosure, so keep this in mind.

First, fully document your invention both in writing and diagramatically including all relevant notes. Keep any shreds of hard evidence of when you invented it because in the US we follow the "first to invent" rule (as opposed to "first to patent" in most of the rest of the world). Get these documents notarized and make sure you initial and date every page of your notes. Once your patent application is under way, you can claim "patent pending" status.

I've only touched on a few of the basics. A good patent attorney should help you to understand the broader issues. You need to know that ultimately patents do not offer perfect protection and are costly to defend. Ultimately, it is the people you employ or partner with to get your idea to market that will most likely make or break its value. After that, the biggest issue is competition and off-shore knock-offs.

Good luck!!!

Ed

[Txsweeper]

edtarboosh: That's great information for all! Thanks for posting!! :toot:

[Ravzie]

Thanks, y'all!!

[mpumr]

Ohhhh, Ed has me intrigued with just his own experience! My FIL had an idea and was going to patent it, but was going to do the do-it-yourself method. Wouldn't even tell his own kids what the idea was, the man is super paranoid, how he has gotten this far in life who knows :worry: . He quickly tired of the idea and hasn't followed through on it; it's been 9 years since then.

Good luck!

Marsha :gvibes:

[edtarboosh]

Ohhhh, Ed has me intrigued with just his own experience! My FIL had an idea and was going to patent it, but was going to do the do-it-yourself method. Wouldn't even tell his own kids what the idea was, the man is super paranoid, how he has gotten this far in life who knows :worry: . He quickly tired of the idea and hasn't followed through on it; it's been 9 years since then.

Good luck!

Marsha :gvibes:

Marsha,

You are SO right! I had my first major invention when I was 23 and was very naive. My parents (who come from simple backgrounds) fed my paranoia so that I wouldn't talk to anybody. Though I don't advocate open carelessness, I learned the hard way that's it's best to err on the side of pushing your ideas and making them known. To paraphrase and "correct" an old saying, "Build a better mousetrap and then beat a path to the World". A good idea alone isn't worth much without the planning, hard work, and perserverance needed to see it through. Usually, the inventor doesn't have all it takes to make his invention successful. He needs partners. He'll never find good ones if he clams up.

The dirty secret of patents is that they really don't offer much protection to the little guy. It takes at least $1million to defend a patent against a determined infringer. And once committed to such an action, you cannot withdraw unless the defendant agrees. People have lost their legitimate patents because they could not afford to fight and the infringing party would not withdraw. Big companies use this to beat up the small inventor all the time. It's practically a ritual. And we're just talking about the US. It can be worse for foreign patents.

In general, those who most successfully leverage their patents do so by quickly building a significant and profitable company around their product or by partnering with a large successful company that handles the production and marketing. This is usually preferable to licensing a patent where there are many pitfalls in my experience. You have to negotiate the terms of licenses very carefully to make sure you don't get screwed. A good patent attorney will help with this too.

My point is that you have to be in a strong position by the time infringers/competitors have you in their sights so they know you won't be intimidated.

Ed

[wildbirds]

Ed,
May I PM or email you?

Thanks.

[edtarboosh]

Ed,
May I PM or email you?

Thanks.


Sure - PM is fine

Ed

[edtarboosh]

You can't avoid disclosure under these circumstances. Under US law, you have one year to file a patent from the date of your first public disclosure, so keep this in mind.

Ed

I should add some clarification. A public disclosure is like a publication or open communication with people/companies/etc. not bound by a non-disclosure agreement. While your patent is in process, you should not make disclosures without a non-disclosure agreement in place, especially before the patent is filed. You need to be able to show you were diligent in protecting your idea.

I have attached a basic non-disclosure agreement I often use. It is pretty boilerplate but check it carefully to make sure it applies to your idea. If you can afford it, I would recommend having a lawyer tailor it for you. But this one should enable you to get started on the cheap. It'll save you a couple hundred bucks.

Ed