My Invention is Finally done!....now what?

[Spikeroo]

Ok, I finally got off my lazy a$$ and finished my invention, I now have a legit prototype. Now what exactly do I do? I'm proud to say I bought MJ's book, and am currently in the middle of it. great stuff btw. So, can someone help me?

 

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[JayKim]

Next would be to get a provisional patent application.

Good thread on it.

https://www.thefastlaneforum.com/book-recommendations/30946-one-simple-idea-stephen-key.html

Amazon.com: One Simple Idea: Turn Your Dreams into a Licensing Goldmine While Letting Others Do the Work (9780071756150): Stephen Key: Books

 

[Likwid24]

Ok, I finally got off my lazy a$$ and finished my invention, I now have a legit prototype. Now what exactly do I do? I'm proud to say I bought MJ's book, and am currently in the middle of it. great stuff btw. So, can someone help me?

It depends. Are you looking to license it or are you looking to manufacturer it yourself?

 

[ZCP]

Find a customer that will buy it. Take preorders, get deposits, etc. Then find a fabricator that will make it.

 

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[Rickson9]

You need a customer. Without a customer the invention is just garage sale junk.

 

[JASpinnato]

Looking forward to seeing what it is once you file for a patent

 

[divac14]

Depends on your invention. Not everything needs a patent. Coca-Cola's recipe is not patented.

 

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[IlBambino]

It was already mentioned, but check out Stephen Key's "One Simple Idea." That way you can decide what is next. Every product and or idea is different. The book's advice helped get my idea on the table with a European sportswear company. Best of luck!

 

[Likwid24]

Find a customer that will buy it. Take preorders, get deposits, etc. Then find a fabricator that will make it.

This is tough to do depending on what the product is. I don't see how you can take pre orders if it's a product that can take months to make. And that's if everything goes right.

I think before anyone starts jumping to conclusions, Spikeroo would have to tell us more info. He might not even want to manufacture it himself. It's possible he's just looking for a licensing deal. I would look into getting a provisional patent first. They are very cheap and fairly easy to do. That will at least give you some protection.

There's another thing you must know about selling a product before you apply for a provisional patent- If you sell a product for more than one year before applying for a patent or a provisional patent, it can become considered "prior art" and you might not be able to get a patent on it. I just spoke to my patent lawyer about that. Read the following:

"For a patent application to succeed, the invention must be new within the meaning of the patent law. In other words, the invention must not be Prior Art. Prior Art is a term encompassing prior technology.

An item becomes Prior Art against a later filed patent application if the item is "on-sale" more than one year before filing a patent application. "A person shall be entitled to a patent unless. . . the invention was. . . on-sale in this country, more than one year prior to the date of the application for patent." 35 U.S.C. § 102 (b).

The term "on-sale" has a special meaning in U.S. law. No public disclosure of the invention is necessary for application of this "on-sale" provision; the entire structure of the product placed "on-sale" becomes Prior Art. The issue is not whether the marketing discloses the invention, but whether the marketing relates to a device that embodies the invention. Thus, in general, a confidentiality, or non disclosure agreement (NDA), will not prevent a finding of "on-sale."

This "on-sale" provision has been called a trap for the unwary, because it may apply to certain types of marketing even if no formal offer for sale occurs. Further, the "on-sale" provision may apply even if no product prototype exists.

The "critical date" is one year prior to the date of the patent application. The current state of the law is that an on-sale event occurs when two conditions are satisfied before the critical date. First, the product must be the subject of a commercial offer for sale. Second, the invention must be ready for patenting. The second condition may be satisfied in at least two ways: by implementation of the invention, or by drawings or other descriptions of the invention sufficiently specific to enable a person to make the invention.


So I think the first steps would be to file for provisional patent then decide if you want to license or manufacture it.

 

[Likwid24]

Depends on your invention. Not everything needs a patent. Coca-Cola's recipe is not patented.

That's a huge difference. It's a recipe and they consider it a "Trade Secret". You don't need to get a Patent on a recipe or formula if you don't want anyone to see what's in it. A patent will divulge all information so that anyone can see it. Coca-Cola just keeps their recipe a secret. They have anyone that knows the actual recipe sign legal forms swearing them to secrecy.

As for an actual product. All someone has to do is get there hands on it, take it to a manufacturer and copy it. I can have my manufacturer copy something just by explaining it to them.

 

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[DrummerDad]

Do a patent search first. Even if your invention is new, certain ideas contained in your design might be patented, falling under the prior art disclaimer. And alot of times someone has already patented a design (ideas cannot be patented) , they just dont do anything with the patent. It might be expired (like a utility patent only lasts 20 years) but it will still prevent you from being awarded a patent. Do a search, and see if you need to re-think the design.

If it isnt patented, get a patent lawyer. Dont fall for one of the fly-by-night patent and trademark scams. Get a lawyer. They will work with you, and make sure you are protected also. Yes it costs money, but its worth it.

Then the real work begins. Youll have to work out alot of problems. Manufacturers will need drawings, and a number for quoting. Will you need 100, 1000, or 10,000 a month? What can you have it made for? And what can you sell it for? How does it need to be made? For example: Look at a simple box. It can be wood, cardboard, any type of metal, composite, plastic. It can be any of a million different dimensions, any thickness, even solid. Each type has a different manufacturing process, and different cost to produce. And each has a different market, as well as demand. Not too many people need a composite honeycomb box. Ive seen them, and built them. But they are expensive. I can get cardboard boxes free at Walmart.

Good luck with it. Your gonna be busy now.

 

[Likwid24]

Do a patent search first.

Yes I'm sorry. I forgot to say do a search first.

If it isnt patented, get a patent lawyer. Dont fall for one of the fly-by-night patent and trademark scams. Get a lawyer. They will work with you, and make sure you are protected also.

This is true if he has money to blow like that but you can get a provisional patent on your own for very cheap and it will protect you for one year. You have up to a year to file for the patent. See which path you decide to go down before you spend all you $$$ on a patent. They can be very expensive.

 

[ZCP]

Quit wasting time. Put up a single page website, send out some fliers, put up a craigslist add. Find a customer. Then find another one. Take deposits. Tell them they are the first and it will take some time to get to them. Whatever you need to do to get some sold.

Without sales, you have nothing.

 

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[myboy]

Take preorders, get deposits, etc. Then find a fabricator that will make it.

 

[Spikeroo]

Thank for the advice guys, I talked to a few mechanics who come into my work from time to time and talked to them about it, One of them gave me his card and told me he wanted one, and I have a few other people in mind.

 

[Whole Paradigm]

This may help:

Kickstarter

Cory

 

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[deepestblue]

Grateful to be a part of this forum with people who truly understand sales etc: Rickson and ZCP's replies above simply couldn't be more 'on the button'.

 

[Likwid24]

I agree that sales is the most important aspect of any business. Nothing comes close to sales in terms of importance for you to have a successful business. Without sales you have nothing. I'm just saying from experience and from talking to many people with experience and reading many books written by people who have been very successful inventing products, there's a proccess you must go through before you start selling your product.

It's one thing to show your product to people and ask if they would buy it, then ask how much they would pay for it but it's another thing to throw up a website and start taking orders. It's possible to get into a lot of trouble that way. I've talked to people and read about people who started selling a product and later found out they were being sued for patent infringement. I've also seen a large corporation take an idea from someone because there was no patent. It's impossible tobtry to take a large corporation to court for something like that because it costs millions of dollars.

I would highly reccommend doing a legit patent search first then file a provisional patent asap. It's not expensive and does not take that much time. The whole process can be completed in less than a month.

After that I would start focusing on sales.

 

[ZCP]

OP said....."finished my invention, I now have a legit prototype. Now what exactly do I do?".

At this point there is no 'after that...focus on sales'. It is time to determine the market, get customers signed up, and take deposits to fund fabrication / distribution / etc. Take action and keep moving.

We see this all the time with our engineering company. Inventor has an idea, wastes years going back and forth on the design. Could have already sold enough to be on the next version. We push them to prototype and get a few sold. They find 'one more thing' to do before focusing on sales. When they finally sell one and the product begins to fly off the shelves, two things happen. They have money to fund the business...and they say 'why the hell didn't I just sell one to get things going?'.

The goal is to be on version 2 while the other guy is still doing his patent search.

 

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[DrummerDad]

The big difference is you are with a company, with funding to move at that speed. If this is out of pocket, it will be MUCH slower.

Its ok to get a provisional patent, and probably a very good starting point. And it doesnt cost much, but you have to file the patent within a year. And I agree with getting the pre-orders, IF, and only if you know you can have it made and ready for sale inside a predetermined timeframe. I also know from experience, if you are just some guy with a good idea, and a prototype, the first question every potential customer will ask is "when can I get one" and then, "when can I see the actual production model". Ive been going down this road for over a year. The only people who will be interested in a prototype are potential investors. Figure out how long it should take, then triple it.

A company can move faster, and get things done in a different order. They have the money, and influence to make things happen, because of their prior successes. An individual wont be taken seriously, until there is a reason to be taken seriously. Even if its a good idea. So what. Hundreds of good ideas just sit and rot, or get stolen by someone who is willing to go to the trouble.

Patent search. Get protection. Determin the market need. Get a production/manufacturing/shipping infrastructure solution in place. Then go to trade shows, and get customers. Thats my experience.

 

[Likwid24]

Just wondering. How many people in this thread, besides DrummerDad, have developed a product or even attempted to develope a product?

 

[ZCP]

As an engineering consulting firm, my company has a few of these going at all times. Product development, design, assistance with prototypes, shepherding in the right direction......

Seen some go well.....others are sitting on the shelf gathering dust. Common theme.....sales. Get a customer to commit to buying one. Then find another. Without customers you have nothing.

 

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[Likwid24]

Seen some go well.....others are sitting on the shelf gathering dust.

One important thing to remember is that people come up with great ideas and get all amped up in the beginning. They get their patent, get their prototype, talk to a manufacturer. Then the either run out of money, lose their motivation or realize that you can't just come up with an idea then become rich. There's a lot of time, effort and really hard work that you need to put into it. They want the end result but they don't want to go through the whole process to get there.

I hope that Spikeroo really follows through and isn't another member on the forum with a great idea then does nothing about it.

 

[ZCP]

One important thing to remember is that people come up with great ideas and get all amped up in the beginning. They get their patent, get their prototype, talk to a manufacturer. Then the either run out of money, lose their motivation or realize that you can't just come up with an idea then become rich.....

And that is EXACTLY why sales is all that matters. The reason they hit the wall is no one wants it. If they had taken preorders and deposits, there would be plenty of motivation and traction to get to market and then improve to the next version.

 

[DrummerDad]

Im not trying to start an argument. I just want to point out a few things, then the OP can decide whats right for his situation.

A trade show will do two things, if this is truly an original idea. First, it allows you to gauge interest. I had a rough prototype literally cut the day before the show, but dozens of people who were industry experts loved it. There was never a question of "why do people need this or want it". It was "what will it cost, and when can I get one". Secondly, it is physical proof that you have been working on the idea before others, called "reducing to practice". If someone else steals it, or comes up with it at the same time, you have real proof you were first to attempt to bring it to market. And you might even get a few offers for licensing or preorders, although I doubt it.

The problem I have with preorders is you have no clue how long it will take you make this thing. My invention isnt all that complicated. The drawings are only 9 pages, with a bill of materials and a cover sheet. Not bad. Im on my forth revision, and going on 18 months to manufacture it. I thought it would be 6 months. Most of that time was spent waiting on other people. Noone locally would even look at it. I contacted over 30 US based manufacturing companies about having it cast and machined. But without a commitment of 5000+ units per month, noone would touch it. I lucked out, and found a company who outsources to foreign countries. They will build you 1 if you want to pay for it. I also lucked out, because the owner was interested in helping me, seeing a potential for a partnership. But, without the influence and money of a large company, I might still be trying to find a manufacturer.

I know sales are where you will make the money. Im not arguing that. But you have nothing to sell now, except an idea, which is just as easy to steal as it is to buy. Thats why I still havent disclosed what Im making here. And I am patent pending. But until we have a finished, ready to run production unit, Im playing it safe. There are people out there (not saying on this forum) who have the money and influence to take an idea, and make it happen.

If you get it patented, then you can license it. You will have something physical to sell. Trying to sell an idea is a bad idea. Get protection first. You dont have the money, and a pack of lawyers a company might have to out litigate someone with more ambition.

 

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