Coming up with a brilliant idea is by far the easiest part of the invention process. Developing that brainwave and turning it into a successful, moneymaking product can prove to be a minefield. We offer advice on how to avoid the pitfalls that often beset first-time inventors...
One of the most important things to do before spending time and money is to absolutely avoid the invention scam companies. They will try to lure you in to their web and they will provide you absolutely nothing in return. The second thing to do is to do an evaluation of your invention idea.
Once you have completed an evaluation you will immediately know if you have something to move on with or not. If the evaluation is overwhelmingly negative, STOP RIGHT THERE and abandon the project and move on to something else. If the evaluation is positive, then check that the idea is new, that it is technically practical, and that there is a potential market for the idea.
Our service provides a very cost-effective way of finding out whether these things are true for your idea or business.
Nine Important Things to Do!
1. Keep it to yourself - One of the most tempting things to do if you’ve just come up with an ingenious new invention is to tell your friends without even a whiff of a confidentiality agreement. Not only does this make your idea liable to be stolen, you will also not be able to patent it, as it will be considered to have entered the public domain. Our website contains a typical Confidentiality Agreement that you can adapt.
2. Do Your Research - So many people come to us with an invention without having dared to find out if it’s been done before - sometimes we type a ‘new’ idea into Google and it’s the first result. Spend a little time having a look yourself. By finding out what the competition is you are in a much better position to improve your idea and sell it successfully.
3. Beware of Invention Companies - It may also be tempting to take your idea to one of the big companies - for example, take your improved lawn-mowing device to one of the large garden machinery brands - but many of them won’t sign a confidentiality agreement. Without this you are in danger of losing the rights to your idea.
4. Don’t fear lawyers - All patent attorneys will offer a free half-hour confidential consultation in which they will quickly offer invaluable advice about your invention and the patent implications.
5. Make sure it can be built - If a picture is worth a thousand words, then a prototype is worth a million. It makes it a lot easier for people to work out what your invention is if they can see and touch it. But don’t spend money on making a prototype until you are really sure that you can protect the idea and that there is a market for it! Even if it doesn't work in its original form, you may be able to improve it or seek alternative technologies that could make it work
6. Don’t waste your money - We know of people who have spent hundreds of thousands of dollars on patents, lawyers and manufacturing, without ever checking whether it was a new idea or whether anybody would actually want to buy the thing. Just because your family and friends say they would use your invention doesn’t necessarily mean that anybody else will. Always do your market research on strangers to see if it would sell.
In addition, don’t hire a bogus invention company. All they want to do is take your money and tell you what you want to hear. They are sales companies that hire commissioned sales people. For more information on this subject, request a copy of our eBook from our home page.
7. Patent, patent, patent - In the US, the first to invent gets the right to that invention. Apply for the Provisional Patent Application as your first step in the patent process. In other countries it’s the first to patent. Your Provisional Patent Application will help you if you decide to patent outside the U.S.
8. Registered designs & trade marks: could be better- If a patent is not appropriate, a registered design or trade mark can be a much less expensive way to protect the appearance of your idea or your business or product name, slogan or logo. Registering your company name is not the same as registering a Trade Mark. A web site name (URL) has no legal standing in protecting a name or brand either. The value of many large organizations is in the goodwill in their brand names, not just the technology in their business. This is especially true of service and software businesses.
9. Stay positive! - While all these legal complications can seem overwhelming, inventing is a wonderful thing, and the perfect way to escape the drudgery of a 9-to-5 job. A healthy dose of enthusiasm and genuine belief in your idea (as well as a touch of arrogance) can do wonders for you, and for your invention.
visit www.inventoreducation.com for more information
Thursday, August 20, 2009
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