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Attorney and patent holder Steve Barbarich takes readers on an exciting journey through the patenting process. The table below describes in more detail the data being collected. There goes the balloon! Some of those ideas are developed internally, but many are submitted by outside inventors or just regular people who have a new idea. Ask yourself:. We cannot guarantee that the information applies to the individual circumstances of your business. All Rights Reserved.
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You & Your Big Ideas A Resource Guide For Inventors and Entrepreneurs - Kindle edition by Brian Fried. Download it once and read it on your Kindle device, PC. You and Your Big Ideas - A Resource Guide for Inventors, Innovators and # in Entrepreneurship (Books); # in Engineering Patents & Inventions.
The Key is Patience December 7, 0 December 6, 0 Licensing Your Big Idea November 27, 0 November 6, 0 October 31, 0 Product Design and Development October 25, 0 October 20, 0 October 11, 0 October 9, 0 October 4, 0 October 2, 0 September 29, 0 Inventing a product requires a lot of initial investigation, patience and resilience, Lininger said. Before you start, make sure you have the time to dedicate to due-diligence research. This is especially true when you're looking at patent protection for your idea. Would your design infringe upon someone else's copyright or intellectual property IP?
If patent protection is something you are interested in, contact a patent lawyer. If you have questions or want to be sure your invention is legal for you to create and sell, consult with an attorney specializing in patents and IP law. You should also look at what's out there and size up your competition. This will help the team stay aligned and have a common vision so you can ensure a successful product launch.
Once you've found your market and ensured that your legal path is clear, it's time to create a prototype. At this point, you'll need to decide if you're going to have your product manufactured or licensed. The former means you'll create and sell your product yourself this includes paying a third party to manufacture your product ; the latter means you'll sell another company the rights to make, use and sell your products, granting that right in exchange for a license fee and royalty payments.
Even before you have a finished product to sell, you'll need to talk it up to your friends and professional contacts. Lininger emphasized the importance of developing a great elevator pitch: a short, concise sales pitch that includes a hook, a value statement, statistics and other data, your product's uniqueness, and a call to action.
Helgeson reminded entrepreneurs that their products are not going to be perfect in their first iterations. You'll have to tweak the product along the way, and the best way to figure out those changes is by testing your invention with real consumers. Get honest feedback from test groups to validate your idea, he said. Be out there in the field You can't sit in a room and try to dream something up.
Additional reporting by Sammi Caramela and Nicole Fallon. Kiely is a staff writer based in New York City. You can reach her on Twitter or by email. Product and service reviews are conducted independently by our editorial team, but we sometimes make money when you click on links. Learn more. Start Your Business Startup Basics.