MightyRecruiterIf you have a brilliant idea that you would like to turn into a reality, take the steps toward patenting your invention and getting it out in the marketplace. Some sparks of genius can be turned into revolutionary products, while others end up being too expensive to manufacture or have already been created before. Consider these 10 tips to move your brainchild forward.
1. Learn About the Invention Business
Any time you start a new venture, including getting an invention off the ground, you need to educate yourself about the business surrounding it. Read up on patents, prototypes, and the steps that lead to royalty checks. Educating yourself can help you avoid scams and keep you from wasting time and money.
2. Do Some Research
Before you seek legal counsel or spend money building a prototype, do some research about your bright idea to see if it already exists somewhere else. By searching the Internet, perusing the shelves at stores, and asking others in the industry, you may find that someone else has already patented a gadget very similar to yours. On the other hand, you might find that your new device or technique is completely unique.
3. Create a Record
Protect your rights to your invention by creating a record. To do so, write up a document that clearly describes your idea. Also, keep an inventor’s journal with dates for pertinent milestones, such as when you had the original brainstorm, experiments you’ve performed, research you’ve done, and people you’ve spoken with about your invention. Having witnesses sign key dates and information is a wise move, too.
4. Don’t Let Anyone Steal Your Idea
Safeguard your invention by using caution when discussing it with others. Have individuals you employ or get advice from sign confidentiality agreements before they help you move your idea forward. A non-disclosure agreement that is notarized should do the trick.
5. Build a Prototype
Building a prototype of your widget will help you work the bugs out of it and see if your idea can be transformed into reality. It will also be a tangible model of your idea, which should help you in pitching it to developers and investors.
6. Determine Whether Your Invention Will Sell
Before you put too much time and energy into your concept, determine whether it has a chance of selling. There are many ingenious ideas that end up being too costly to market. One way to estimate marketability is to add up legal fees, filing fees, and the cost of making your product times 20. When you come up with a figure, ask yourself whether people would pay that much to own your creation.
7. Think About Patents
Before you attempt to get a patent, make sure it’s possible to do so. Does your invention fall into a patentable class, such as a process, article of manufacture, composition of matter, or machine? You will also need to perform a patent search to avoid infringement issues.
8. Gather Your Funds
To move your concept forward, you’re going to need money. Having enough cash to bring a new product to the marketplace can be a stumbling block. Investigate your options and determine whether you can handle the costs yourself or if you should consider taking on investors.
9. Make an Appointment With an Attorney
When you’re ready to get your brainchild legally patented, contact an attorney. It’s best to work with a legal professional who is experienced in doing patent work.
10. Work on Your Brand
Once you’ve patented a viable invention, you get to work on your brand, which includes coming up with a suitable name, logo, and trademark. Branding information helps you build a presence in the marketplace.
Having a great idea is the beginning of an inventor’s journey. With persistence, wisdom, and a bit of luck, you can turn your inspiration into a reality.
Legal Disclaimer
The content on our website is only meant to provide general information and is not legal advice. We make our best efforts to make sure the information is accurate, but we cannot guarantee it. Do not rely on the content as legal advice. For assistance with legal problems or for a legal inquiry please contact you attorney.