The focus on your head shines so bright that it could blind others. But what should you do with those amazing ideas? Before you start telling the wrong people or selling it to the first company that offers to buy it, you need to do one thing: protect it.
Regardless of whether you want to produce and sell your idea alone or if you want to offer it to a company to do so, the only way to get money from your invention and to ensure that nobody steals your idea is to register the patent. While most of the people aren’t aware of the complete process, it would be a much better idea to get from help from companies like InventHelp, that help inventors to focus on their invention while going through the complete process.
1. Document your idea
Just having an “idea” is worthless, you have to have proof of how that idea came up. Write everything you can think of that relates to your invention, from what it is and how it works to how you plan to sell it. This is the first step to patent your invention and prevents it from being stolen.
You have probably heard of the “patent of the poor”, which is to write your idea and send it to you by sealed mail so that you have a dated proof of the conception of your invention. This is not so reliable, and in the United States, it has not been sustained in several trials.
Ideally, write your idea in a newspaper and have witnesses to sign it. This diary will become your bible throughout the process. An inventor’s diary can be any notebook that has numbered pages, or you can buy special diaries for this. Just make sure that the sheets cannot be torn off and that they are numbered from beginning to end.
2. Research your idea
You will need to investigate the operation of your idea from the legal and business aspects.
No doubt your brother thinks that your new idea for a hose is excellent, but that does not mean that your neighbor would buy it. More than 95 percent of patents never generate money for the inventor. Before investing too much time and money in registering your idea, do some market research. Would people be willing to pay for what you invented?
Once you are sure that there is a market for your idea, make sure it can be manufactured and distributed, at least nationally, at a sufficiently accessible cost. You can calculate the costs by comparing your product to those that already exist in the market. In addition, this allows you to monitor the competition, something that you will undoubtedly have regardless of how original you think your idea is.
3. Build a prototype
A prototype is a model of your invention that puts into practice all the things you wrote in your journal. This will demonstrate the design of your invention when you take it to register and / or present it with potential investors. Do not register anything until you have built the prototype.
You will almost always run into some failure of the original model or you will come up with a new feature to add. If you patent your idea before reviewing these details you will not be able to include them and you will run the risk of losing the rights of your patent when someone else presents the improved design.
4. Start the registration process
Now that you have deciphered all the steps of your design, it is time to register it. There are two main types of patents from which you will have to choose: a utility patent (for new processes and machinery) or a design patent (to produce new designs). In this part, we suggest you get help from experts like InventHelp, you can reach them on Twitter here: https://twitter.com/inventhelp
5. Sell your invention
Now is the time to decipher how to take your product to market.
Start by making a business model. How are you going to get the money? Where are you going to make the product? How are you going to sell it? Now is a good time to decide if you are going to do it alone or if you are going to sell the patent or license it to another company.
When you offer the license you will receive a small percentage of sales, and this can scare inventors because they feel they deserve more. However, you should consider the positive side: you will not have the financial burden associated with the business. And this can generate much more money in the long run.
It is also important to remember that from the moment you conceived the idea that you see it in a store, a lot of time can pass. Most inventions take years to see the light. Be patient and diligently follow these steps to patent your invention and your years of hard work will finally bear fruit.