|
  
Our Idea Screening
Criteria: A Key to Your Success
|
Dear Inventor,
Intellectual Property Owner and/or Exclusive Representative,
If you are able to
satisfy our requirements which are listed here
, then please provide us with answers to the following questions for each
of the products that you would like us to assess its merit (if you do not
have any information for a specific section, please state so.) You can
accomplish this task by doing the following:
- Copy and paste the following
questions onto your email program.
- Answer each question.
- Email the information to
us.
1. What compelling
evidence do you have which clearly demonstrates that you are the sole
inventor of the subject new product idea? Please provide copies of the
recorded idea from your notebook and/or other document.
2. Which Unmet needs
is the product going to satisfy? Why should a customer buy this product and
not that of competition (if it exists)?
3. Is there sufficient
data to substantiate that these are truly Unmet needs for the
customer?
4. Are there any
barriers to entry for the new product, i.e. utility or design patents;
trademarks, etc., etc.? If not, how easy it might be for someone to reverse
engineer and copy the new product?
Note: Please provide
us with complete copies of any patents or Provisional Patent Applications
(PPA) you might have.
5. Which product
features will satisfy these unmet needs? How?
6. What product
claims will be made? Can these claims be substantiated through scientific
and other compelling evidence?
7. Are design
criteria established for the product?
8. Have preliminary
product, component and packaging specifications been developed? Do you have
any product models or prototypes made?
9. What type of
testing will be done in order to evaluate the soundness of the product
design?
10. How long should
the product be expected to last?
11. Does the new
product have sales potential in the targeted market? If so, provide numbers,
etc.
12. Who is the
competition?
13. How can they
affect the new product's sales?
14. What are the most
effective channels of distribution?
15. What are the
prices of own and competitive, similar products? What is the expect net
profit (after taxes) per each product sold?
16. Which are the
major factors that influence potential users? Price, quality, brand name,
service, etc.?
17. What is the best
way to gain exposure in this market?
18. Are there any
drawbacks to selling in this market?
19. Who are the best
potential buyers and representatives for the new product?
20. Are there any
potential licensing or joint venture partners in this market?
21. Do you have the
required experience, know-how and resources for effectively marketing /selling
and distributing the new product?
22. What level of
funding do you need? Do you have a business / marketing plan which could
justify how these funds would be allocated?
23. Why would a
potential investor be willing to fund your new product efforts? What should
he /she expect in return?
24. What are your
underlined assumptions concerning the viability of this business?
25. What are your
"What if" scenario concerning your projected estimates for market
size, penetration potential, profit margin, etc.?
Finally, please
provide us with this information:
a. A summary of your
technical and / or business qualifications and that of others who might be
involved in your company on a full time basis.
b. How long have you
been in business?
c. Do you expect to
engage us on a consulting basis or as a potential joint owner of these new
businesses? What are your short and long term goals?
Upon receipt of this
information, we will review it and contact you within two to four (2 to 4)
weeks.
Note: Any mailed materials to us
will not be returned unless you a) clearly specify so and b) provide us
with sufficient funds via a money order to cover the shipping and handling
expenses.
.
.
|
 Return to the top of this
page.
|
.
|
