Licensing can be a viable and faster way to get your invention to market and hopefully a decent NET profit. Beware of sending your idea to any company for review that requires money upfront for the review. What we have found is that most times as not, the review comes up short, but money is expended with nothing to show for it. Or review comes back glowing but to proceed more money is needed. Either way it is your idea, and your money so whether your idea is marketable or fails you are still out serious money. My advice is for you to do serious research before hand, maintain meticulous records, and always get executed copies of the NDA> confidential non disclosure agreement. In coming posts I will lay out a proven format to folow for getting the best value for the money expended. Best To all/Gary
Licensing vs patent
Where do people get the ideas for a new invention
Over the past Thirty Two years, I have been privledged to talk with Hundreds of Inventors. Invaribly in our discussions the question comes up: “How did that idea come to you? Most times as not, the answer given is: Well my new invention is related to what my job is. Sounds relatively simple dose’nt it, but it actually is a combination of an inquisative mind, conscious observations of certain tasks, and quite often just plain old fashioned deep thought and a good dose of persperation. Actually, IF Inventing were that easy, literally everyone would be bringing new or improved products to Market. But, that surely is not the situation. Some people refer to inventors as “Geeks” or other disengenious descriptions of a craft that the person voicing such comments, has no understanding of what makes an inventor tick. There is absolutely nothing more exhilirating, than inventing a new or improved product, it is positively intoxicating. Do you realize, that at one time the United States Patent Office was suggested to be closed, as the reasoning given was: Everything that could possibly be invented has been invented. Wow, what a terrible consideration. As long as man can dream, and have reasoned thought, there will be inventions the like of which, even in todays World cannot even be fathomed. Think back 50-100-150 years ago, and in your minds eye, envision some of the products on the market to do some of the most sundry of tasks. You will quickly see that, every one of those products were mostly single task, extremely bulky and cumbersome and required inordinate amounts of labor to operate. Compare that say: to the modern Combine vs the thrashing machine, or the typewriter to todays electronic systems. The comparisions are endless, but bottom line is, there will be constant innovation for as long as man see’s the need for better and better methods to do tasks, and to design other products to do tasks that are presently not doable, simply because the product has yet to be invented. The World of Inventing can free your mind and let it dream and ponder any assortment of situations whereby you can really make a difference for all mankind. Maybe what you will invent is of limited use, but it is a step in the direction of progress, and that is something that is only limited by your own desire for a better life. Not only for yourself but for others who will have a real need for your Invention. I will continue to make posts over the coming Months, and each topic will be a different segment of what is involved in Inventing. I cordially Welcome all who visit this post to stop by my web site at: www.inventionseed.com. Indeed, should you desire and are serious about inventing I would Welcome the opportunity to talk with you.
Inventions, The rush to a dream
Not sure about you, but everytime I come up with a new idea for a completly “new” product, or a significant improvement to an existing product, my brain goes into overdrive. First, I must find out, if indeed what I have came up with is a viable product. For that I need do some serious research, or failing that, in years past, I would retain a Firm to do the research for me. That worked, but only to a point. That point being: Was the retained Firm strictly research, or was it also one of the so-called “all in one outfits”, that would invaribly come back with glowing platitudes and scenarios of patents and or Licensing, just a few steps away. Frankly, I have been that road far to many times, and have expended considerable resources chasing a “dream”, that factually the retained Firm knew was doomed to fail. But, in the interim, I was coerced into placing my dream of a profitable invention into their hands, and paying many thousands of dollars, only to see, my product invaribly fail, or, after draining my Bank account, nothing was really done by the retained Firm. I remember well, my first invention, it was a velcro strip with weather stripping attached and was easily applied and adjusted for tension, research by a retained Firm gave it outstanding laurels and claimed no conflict with existing art. Alas, when I gave go ahead, and a more thourough research was completed, I found out the hard way, that indeed my product had real merit, but I would be trampling all over existing Art. That only cost me $4,000.00. That was back in 1978. In fact, I had people from Stanley works fly in to meet with me and review my prototype. The product was acceptable, however the gremlin of patent infringement popped up shortly after, plus we in concert with 3-M never could get the UV problem worked out. So, for now, I would stronly advise any Inventor, to use extreme caution in pursuit of your dream and deal with any Invention Firm with the utmost caution and know before hand the many niceities involved, before you expend any monies. In the coming weeks and Months, I will be posting further articles on Inventing, and each one will deal with the many different facets involved. For those so inclined, you are cordially invited to view my website at: www.inventionseed.com.
Inventing can be very Profitable
Time and time over, I talk with people from all walks of life, who have had some really great ideas for new or improved products. All to often,these ideas are not followed up on,only to find out later, that while they dithered away their opportunity, someone else came up with the same idea. Only, now that idea is on the Market and making profits for the person who had the determination to get advice, research and good guidance in getting their product completed. At http://www.inventionseed.com we are here to assist all inventors, by giving guidance and assistance in refinning their idea, to analyzing the possibility of the product being successful and to establish a one on one working relationship to help the inventor thru every step of the Patent and or Licensing process. I am delighted to talk with others who have an unbounded sense of curosity about inventing and am always open to discuss product ideas and product improvements. With our economy in dire straits and the severe loss of American jobs, we need now more than ever folks who are thinkers and doers, to come up with new and improved products that can be made right here in The USA. I Welcome comments of a constructive nature to this post, and look forward to communicating with all who post in reply.
Posted in invention | Tags: invention, invention mentor, inventions, licensing, new product ideas, patent research, patents