At the outset I would like to respond to popular belief, with many inventors for the first time about the idea, but have little understanding of how to make money from their invention (ie, they do not include options for their idea) to the market. Many inventors think they need to spend tens of thousands of dollars to develop their ideas and manufacture their own success, which is why we read so many stories about inventors who passed their livesSavings chasing an invention. While the production is an option for some inventors, this is not the most common option, and certainly not the least risky.
The two main options that you consider when developing your invention:
Option 1 – the production and marketing of your invention on your own
Over the years I worked with hundreds of inventors and a common misconception that I see, was the idea that success means an invention developmentManufacture and marketing of the invention on their own. Accordingly, the inventors to spend a small fortune to develop prototypes and the manufacturing facility before they even expressed their interest, or orders from companies. Should, when determining how to proceed, think about making your goal. When you build a business around your idea and an entrepreneur will attempt to production can be your option, but if you pay for a companyfor your idea, then it would not be the best approach. Note: If you choose the design and manufacture of your idea yourself, I advise you to try to interest and / or purchase commitments before pressing the shutter button on the safe manufacturing. There is a big difference between the development of a prototype and setting up manufacturing.
Option 2 – Licensing for royalties
From my experience, 98% of the inventors eventually go this route, which means that instead ofManufacture and marketing of the invention as such, they are trying to license a business or buy the patent on the invention of them are in exchange for a fee or payment in cash. The idea is to develop an incumbent to be produced, and the invention and its product lines market. The key to the success of this approach is to prepare properly and professionally based your ideas for the submission by manufacturers or distributorsDiscuss licensing opportunities, ranging from simple designs range over the entire development of your invention can.
Before you continue, but I want to stress is very important to understand that your chances of success increases when you move through the development and patent process, regardless of the quality you can imagine your mind is. For example, if you are in the concept phase without patent protection, and no formal design and product prototypesthe chances of success are limited if you try to approach a company, but your idea will be further developed and more "real" with a prototype of professional virtual or physical, designed to increase your chances of success.
It's the same with patents. If you are a patent from the United States Patent & Trademark Office (USPTO) has granted, your chances are better if you have the status of pending patent applications, patent or was not all,assume that your idea is good to begin with. Unfortunately, it will not really make any difference what you use instead, if your idea is bad to begin with.
Overall, the disadvantages of the time, effort and money. Increase the investment the right amount of time, effort and money into your idea, your chances of success. I think the goal should be to lower the costs and risks of investing in your idea enough to be able to minimize, safe and Sharesefficient cooperation with companies, money in the idea. For example, you may be able, by filing a provisional patent application start before it becomes necessary, a full utility patent file. [If you want to go to a specific company to license your invention, it is possible that you can negotiate for the company to pay for utility models.] In addition, you can start designing your product, "virtually" before you move in the prototype expensive process. Again, you caninterest and license the invention without too much investment in the development of prototypes. If the absence of a working model of an obstacle, and you hear a good return, you can develop a working prototype to explore physical or later in the process if you have the financial means to do so. The idea is smart to work throughout the process to achieve display a license agreement, without more money than necessary on the product.