Intellectual Property Forums (http://www.intelproplaw.com/Forum/Forum.cgi)

(Message started by: Charles Allen on Jun 2nd, 2005, 6:16pm)

Title: great idea please help
Post by Charles Allen on Jun 2nd, 2005, 6:16pm
I have a great new invention that i personaly no for a fact will work. But how do I get the idea patend to make it mine and no one elses? Please help ASAP very eager to get the ball rolling. I know how to make it work and i know mass industrys would jump all over it.

Title: Re: great idea please help
Post by JimIvey on Jun 2nd, 2005, 6:48pm
Here's my canned answer to that question:
http://www.isrlaw.com/inventorFAQ.html#1

Regards.

Title: Re: great idea please help
Post by charles allen on Jun 2nd, 2005, 7:29pm
no seriously look i no what i posted sounds silly but to keep it short say i have an improvement to make on a product. Ive already paid $475 dollars for a patend search and no one has any thing close. The question is it will cost millions of dollars in machinery and materials to make. Ive spoken with power plants and many other big industries that need my improvment. there very interestedl WHAT DO I DO??????

Title: Re: great idea please help
Post by JimIvey on Jun 2nd, 2005, 8:33pm
For what it's worth, I did take the question seriously and my answer was serious.  

The point is that the question is so open-ended that it's impossible to answer all at once.  I think you need a quick overview of what it takes to make money from an invention.  That's what my FAQ is intended to be.

The important part is this:  while we specialize in intellectual property here (patents, copyrights, trademarks, etc.), that's only part of the puzzle.  Most often, it takes money.  That money can come from various places, but intellectual property professionals is generally not a good source for that.

At this point, it looks like you have a lot of homework to do.  Nobody's going to just write you a check once you announce your great idea.  Even if it is a really great idea, an investor is going to want to see that you have some real chance of making money from it -- i.e., that you have some significant likelihood of being able to sell the idea to an existing company or to start a company based on the idea.  There are so many factors in evaluating that likelihood that it's not practical to begin to list them here.

So, I'd say your two primary homework assignments would be (i) prepare a business plan and (ii) protect your idea.  You'll need both when you speak to investors.

Incidentally, I'm always interested in feedback re my FAQs and articles (and posts here).  If the FAQ didn't provide any useful guidance, I'd be interested in hearing about it.

Regards.



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