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I have an Invention ... Now What?
(Moderators: Forum Admin, JimIvey, JSonnabend)
   I have a patent pending can i shop the idea safely
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   Author  Topic: I have a patent pending can i shop the idea safely  (Read 1932 times)
JSonnabend
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Re: I have a patent pending can i shop the idea sa
« Reply #10 on: Oct 22nd, 2004, 3:37pm »
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on Oct 21st, 2004, 10:41am, JimIvey wrote:
Some products have longer life spans but can be profitably capitalized in the few years your application is pending -- think about products that are easy to manufacture and can be flooded into markets very quickly, like articles of injected molded plastic.

Jim's advice is very similar to the advice I give my clients.  One more pair of pennies' worth of thought: if the product is as Jim mentioned in the above quote, sometimes it's not a bad thing that competitors flood the market before your patent issues.  If the invention truly has legs (that is, there will be demand for years to come), then your competitors may be very keen to take a license to your patent the day it issues, so to speak, rather than fight you.  Sometimes, there is enough money to go around.
 
Just another thought.
 
- Jeff
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SonnabendLaw
Intellectual Property and Technology Law
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JSonnabend@SonnabendLaw.com
Bill Daker
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Re: I have a patent pending can i shop the idea sa
« Reply #11 on: Dec 26th, 2004, 9:47am »
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I just wanted to give all who shared their advise some feed back from my meeting with the manufaturer/distributor. I think it went extremely well based on a couple fronts. One I believe it is best to present the invention patent pending stage as to keep the i.e. company on their toes and prevent them from immediately picking it apart to reinvent the wheel before commencement of such a relationship. Two this particular company is a small to medium size manufacturer which gives us the chance to get into the game/industry and grow with a company that won't totally swallow us up and spit us out. The down side of this is they will sell it on the low side of the price scale which will give us less based on the percentages of sales. However they do not want an exclusive and will produce it and package it in less than three months which I believe is amazing. Also dealing direct with the president of a small to medium sized manufacturer is much more direct than going threw a BOD via standard chain of commad process in bigger companies.
Anyway thanks to all who shared in there assistance. Heres to a great new year!
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