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Do you have a great idea for an invention, but don’t know what to do with it? Follow these steps to turn your idea into a marketable product.
How To Make Your Idea Into A Product
The light bulb above you shines so brightly that it threatens to blind everyone around you. But what should you do with your brilliant invention idea? You are talking badly about your invention to the wrong person. Before you say or run first company that offers to buy, you need to do one thing. It’s about protecting inventions.
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Whether you manufacture and sell your inventions yourself or license them to another company, the only way to make money from your inventions and make sure no one steals your ideas is to apply for a patent at the USPTO. This can be a daunting process, so we spoke to Andy Gibbs, author of Essentials of Patents, to help you figure it out in five easy steps.
Just having an “idea” is meaningless. You need evidence of when you had the idea for your invention. Write down everything you can think of related to the invention, such as what the invention is, how it works, how it is manufactured, how it is sold, etc. This is the first step to patent your idea and keep it from being stolen. You’ve probably heard of “poor man’s patents” – prove your invention concept by writing down your ideas and sending them to yourself in a sealed envelope. This is unreliable and unlikely to hold up in court.
Write the idea in the inventor’s journal and have the witness sign it. This journal will be your bible throughout the patent process. The inventor’s journal can be a bound notebook whose pages are numbered consecutively and cannot be removed or reinserted. You can find specially designed inventor journals at bookstores like Nolo Press and Book Factory. You can also save money and buy a generic notebook. Make sure you meet the requirements above.
Ideas should be examined from a legal and business perspective. Two major steps must be taken before filing a patent application.
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Just because we haven’t seen your invention doesn’t mean it doesn’t exist yet. Before you hire a patent attorney or patent attorney, do a free basic search at www.uspto.gov to make sure no one has patented your idea. A non-patent “prior art” search must also be completed. If you find any artwork or design related to your idea, it cannot be patented, regardless of whether it has been patented before.
Sure, your brother thinks your new sprinkler idea is a great idea, but that doesn’t mean your neighbor is going to buy it. Before investing a lot of time and money to patent your invention, do some preliminary research on your target market. Is this what people are really buying? Once you know you have a market, make sure your product can be manufactured and distributed at a low enough price that the selling price is reasonable. These costs can be determined by comparing the costs of similar products currently on the market. This will help your competitors even smarter than you, no matter how unique you think your invention is.
A prototype is a model of an invention that implements everything that is written in the inventor’s journal. This demonstrates the design of the invention when presented to potential lenders and licensees. Do not apply for a patent before building a prototype. Most of the time you find flaws in the original design or think of new features you want to add. If you patent your ideas before these encounters have been developed, it is too late to include them in your patent and you risk losing the patent rights to your new design to someone else.
1. Start by drawing a picture. Before starting the prototyping phase, sketch out all your ideas in the inventor’s journal.
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2. Create a concept mockup from materials that allow you to create a 3D model of your design.
3. Once you are satisfied with your mockup, create a fully functional model of your idea. There are many books and kits available to help you with prototyping. If your invention is expensive or unreasonable to prototype, such as an oil refinery process or a new pharmaceutical, consider using a computer-animated virtual prototype.
Now that all design issues have been resolved, it’s time to apply for a patent. There are two main patents to choose from. Utility patents (for new processes or machines) or design patents (for the production of new, non-obvious decorative designs). You can write the patent and fill out the application yourself, but don’t submit it until you’ve had a first look by a qualified patent attorney. If an invention is really valuable, someone will infringe on it. If you don’t have a strong patent created by a lawyer or patent agent, it will pull your hair out later when your competitors find a loophole where they can copy your idea. To avoid this, we recommend seeking legal help. now
1. I do my homework. Bring the inventor’s journal, prototype, and notes. This saves time and money. This will also help convince them to work with you.
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3. Ask about their technical background. If your invention is electronic, look for a patent expert who is also an electrical engineer.
4. Discuss fees. Look at smaller patent firms. They are cheaper and work more closely with you. Before hiring a patent expert, agree on a total cost estimate.
Start with a business plan. how to make money Where do you manufacture your products? how to sell Now is a good time to decide whether to manufacture and sell your product yourself or license it to another company. Once you license your product, you will probably only receive a 2% to 5% royalty fee. This often scares inventors who feel they deserve more. But consider the benefits. There is no financial burden associated with maintaining a business. This will allow you to earn more money in the long run.
It is also important to remember that from the moment you have an idea to the time your product hits the shelves, it can be a very long process. Most inventions take years to come to fruition. With patience and diligence, patenting an invention will pay off for years of hard work.
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This instructive story serves as a reminder that business leaders must adapt to the changing world of work and prioritize the needs and preferences of their employees. Incorporating an idea into a product requires a process that involves many different ways of knowing and understanding. Above all, there must be a plan or methodology to follow. This will ensure that the results meet expectations and, more importantly, that the plan meets the needs of the proposed target audience.
First of all, your planning needs to focus on your ideas. This is done by conducting a thorough research and identifying potential competitors. This is to understand what the value proposition of their product is compared to other players in their own company.
Market In many cases, being the first player in the market can be more difficult to take a position among many other players is not defined, and customers must be educated in advance on how to use the product.
The survey also includes identification
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