How to hit a Home Run with Your New Product
|
|
  
Here are your
priceless steps to inventing success
|
|
|
Step1. Record your idea in as much
detail as possible into a bound notebook (A bound notebook is one that
has number pages, sewed together with thread.)
Document your
invention by recording the significant user needs, features and benefits
of your product. Have your invention witnessed and dated by preferably
two (2) non-related individuals.
You also should
complete and file a Provisional Patent Application (PPA) with the patent
office.
The PPA is used to
make an absolute record of your invention and is valid for one year.
However, you have to include all the particulars of the invention,
otherwise you will not be able to rely on it. Subsequently, you have to
file a regular patent application and any other foreign filing.
|
|
|
Step
2. Do not
show anyone your new idea unless they sign a secrecy / non-disclosure
agreement.
|
|
|
Step
3. Do a
thorough patent search by yourself, if you have such experience or hire a
professional patent search firm for about $200 to $300.
Now is a good time
to start developing various models, refining them, getting feedback from
users, fabricating parts, testing for "what if" design
scenarios, experimenting, etc.
|
|
|
Step
4. Complete
technical
and business assessments of your idea in order to evaluate and document its
merit. If you are not capable of doing an objective evaluation, then hire
a professional expert for about $5K to $10K.
|
|
|
Step
5. If
everything looks O.K. so far, then hire a reputable patent firm that has
experience with the filing of inventions similar to yours so it could
draft and submit your patent application. Costs could be $30K or
more, especially if you are going to seek domestic and foreign patent
protection.
It might take two
or more years for you to be awarded a patent. So be patient, work closely
with your patent attorney and use this time to complete other important
activities of the project such as fund raising (step 6.)
As you can see, we
do not recommend that you spend any money unless the technical and
business merit of your new product can be established. Statistics show,
that a majority of awarded patents never become commercialized,
successful products because they lack either technical and / or business
merit. This step alone, could save you thousand of dollars and
precious time.
|
|
|
Step
6. It is
now time to develop a prospectus for raising the
required funds for building prototype parts, ordering soft tooling, test
equipment, etc. The new product lends itself to a design based on sound
engineering principles and can be manufactured at high quality, volume
levels.
|
|
|
Step
7. If you
are going to team-up with one or more individuals in order to develop and
run the business make sure that everyone involved satisfies these criteria:
|
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.
|
.
|
Copyright © 1996 TechnoBusiness
Solutions(tm). All Rights Reserved. Disclaimer
. Please report questions,
problems here.
|
Home
Who We Are
Unique Strengths
Our Services
Projects Resume
Your Next Step
Write Us
What's New
Articles
Ask
SolvWizSM For FREE
TechnoBusiness
Solutions
403 Christie Ct.,
Stewartsville, NJ 08886 USA
Costas B. Chantzis,
CEO
Tel.:
908.387.9276
Fax: 908.387.0447 Email
Home
Home
Who We Are
Unique Strengths
Our Services
Projects Resume
Your Next Step
Write Us
What's New
Articles
Ask
SolvWizSM For FREE
TechnoBusiness
Solutions
403 Christie Ct.,
Stewartsville, NJ 08886 USA
Costas B. Chantzis,
CEO
Tel.:
908.387.9276
Fax: 908.387.0447 Email
Home
|
