Got a invention? What to do next?

[Patentsforsale]

Hi

If you have a registered Patents, Trademark, Copyright or any other intellectual property which you own the rights to
then register your invention on www.patentsforsale.co.uk for Free.

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Admin Team Patentsforsale.co.uk

[Patentstudent]

Patentsforsale is a spammer. BTW, there are just 2 listings on his or her site.

[Patentsforsale]

Thanks for your response.

This platform is not for spam, its a new platform which has been launched to connect inventors with potential investors.

As for giving any advice about patent sales, we advise all parties to seek legal advice and due diligence when making any
sale or purchase.

Hope that clears your misunderstanding.

[CriterionD]

Many inventors who think they have invented the next best thing since sliced bread, have not actually invented anything real unique, or real marketable.  Some are close, but ignore relatively small details which need to be taken care of before their invention is real marketable.  Some have something big, or big enough, but the bottom line is that there are limitless new product opportunities and they require a decent amount of investment.  A company willing to truly partner with inventors, and go in on real, meaningful partnerships with them, must be very selective or else it is a losing proposition.

Look at it this way.  Do you have decent credit?  Could you develop decent corporate credit if you tried?  Credit is harder to come by now than years ago, but many who complain about not having the cash to do what they would like to, are not usually willing to use credit as a solution.  If you are not willing to risk your assets to commercialize your invention, why should someone else want to invest their hard earned cash in your invention.  Of course, percentage-wise, someone else has less to lose.  But they also have more options re: where they can spend their cash.

Any notion that suggests companies should be willing to help inventors without expecting financial success in return, is obviously false idealist.  After all, if making money isn't important, why bother commercializing your invention.  Just get the word out and hope someone steals your idea.

Coming from nothing, or close to it, and wildly succeeding nonetheless is challenging - but its been done before.  It might seem like large companies are at an unfair advantage compared to the individual inventor - but if you consider the amount of time, effort, and money that was likely involved in creating such leverage, that is not necessarily the case.  Wal-Mart, for example, started out as a single location mom and pop retail store.

Intelligence doesn't always translate to success in any area of life because intelligence doesn't necessarily equate to balance.  Balance is key.  When you are intelligent, it is still best to find other intelligent people to work with whose intelligence complements your own.

[Isaac]

If invention were a toy, I would expect one of the thousand toy companies, to allow me to present toy or its idea to them.

Why do you expect this?   This expectation is fundamental to your success, but toy companies often have "idea men" on staff and can tap their ideas without giving them a "cut" of the profits.

[JimIvey]

For what it's worth, I once heard Stephen Key speak at an IP Society function.  I forget exactly the percentage he cited, but he said that something like a third (25%?  45%?) of new toy ideas come from outside inventors.  He said that toy companies rely on this source of new ideas in addition to their own R&D departments.

I have no insight to say whether this is true or not, but -- from what I understand -- some industries are more open to outside ideas than others.  For the toy industry, I've heard about this openness from several sources, so I'd wager it's more open than most industries.

Regards.

[Isaac]

THIS IS WHY MOST PEOPLE WITH A GOOD IDEA DON'T FOLLOW THROUGH, ITS THE KILLJOYS LIKE YOU.

I find your response baffling.  I'm not advising companies, I am posing a question for  you to think about.  I'm sorry that you are discouraged by my not posting a rah-rah for you.

[JimIvey]

For what it's worth, most industries are not so eager to hear everyone's ideas.  And, as Isaac suggests, it's generally not helpful to expect people to be open.  Hopeful, yes.  Expectant, not so much.

Regards.

[zoobumz]

I have a phone meeting with a company today about an idea I have for them. I don't have a patent for the idea or even started the paper work for it. I contacted them to get the process rolling, while in the mean time I was going to do the patent filing and wait for their response. Well they contacted sooner than I thought and I have a phone meeting now about the idea. I know about a "nondisclosure agreement" but this is over the phone and not in person. How should I handle this situation or should I just wait on the patent papers?

Any help would be great!

Thanks

[mowpar]

Isaac, I don't think you and I live in the same world.

As for zoobus that is a pretty big door, you are contemplating on closing until you are more prepared,  and it may never open again,  you can talk with these people, feel them out, and make agreements that would benefit you both.

Just give them enough so, that if you take your foot out of the door it will not slam shut.

As far as what you can do to protect this idea over the phone, I don't see anything that could you could do.  That is why you can tell them everything,
tell them of what you plan to do to protect your idea, and see where it leads you, they should offer to send you NON Disclosure paper.

[zoobumz]

Thanks mowpar, I was thinking of something like that but wanted to get an outsiders thought of the situation. Thanks

[doug vagedes]

Many inventors don't understand that in a typical license agreement the inventor has little or no risk... financially.  The upside can be huge, but mostly little or no risk.  The Licensee usually has ALL of the financial risk and rightfully so, need to make a fair profit for their investment.  Even a simple idea, could easily cost $75,000 - $100,000 by the time you add R & D, tooling, marketing, inventory and cost of capital.  That's if they currently have the extra capacity with their equipment.  Easily $75,000.  So while the idea may be the best thing ever in the inventor's mind and will make everyone millions, it's a bigger risk and decision when you are accountable to other shareholders.

It always helps if you are able to get some product out in the market.  I always say, "Orders are good, re-orders are better."  It certainly helps your case that with their great marketing plan behind it, sales will explode.   Now if the idea has WOW, they should see a diamond in the rough.

[doug vagedes]

As far as what you can do to protect this idea over the phone, I don't see anything that could you could do.  That is why you can tell them everything,
tell them of what you plan to do to protect your idea, and see where it leads you, they should offer to send you NON Disclosure paper.

Zoobumz, don't tell them everything.  Be as vague as possible but yet convey enough.  If they're in the industry they will get a general concept of your idea and from there can tell you if they want to learn more.  If so, a Non-Disclose / Non-Compete Agreement is a good next step but best to discuss with an attorney, as I am not one.