Table of Contents
Can you sell a concept?
Yes, you can sell an idea to a company without a patent. However, the company needs to enter into a contract such as a nondisclosure agreement (NDA). Otherwise, they can steal your idea. Unfortunately, many companies will not enter into an NDA.
How do you sell a concept to a company?
Three Steps to Selling Your Idea
- Know your market. This means gathering as much feedback as possible on your own invention idea.
- Do some legal legwork. Go as far as you can to determine if your invention is patentable or if it can be produced without infringement on other filed patents.
- Look into production.
Can you patent an idea?
The simple answer is no—you cannot patent an idea for an invention. The invention itself has to be produced or a patent application containing the invention must be filed with the U.S. Patent and Trademark Office (USPTO). While all inventions start with an idea, not every idea can be called an invention.
Can I patent an idea that already exists?
You can’t patent an existing or old product. However, you can patent a new use for an existing or old product as long as the new use is nonobvious. Moreover, the new use cannot be inherent in the use of the existing or old product.
What is the difference between concept selling vs product selling?
The number one thing when using Concept selling vs Product selling is that it creates a form of communication that gets the prospects attention. You are communicating an idea that makes more sense for your prospect to understand and relate to. In other words, it becomes more palatable to the prospect.
What happens if you don’t validate your product idea?
With your product idea in mind, you may feel inclined to leapfrog ahead to production, but that can become a misstep if you fail to validate your idea first. Product validation ensures you’re creating a product people will pay for and that you won’t waste time, money, and effort on an idea that won’t sell.
What are the benefits of concept selling for insurance companies?
Learning how to use concept selling along with power phrases and painting word pictures will maximize the sale of your insurance products and will greatly help with your closing ratio. have a much easier time marketing their products. make more sales. have a much greater chance to get referred leads.
Can you sell your ideas with or without a patent?
Stephen Key, the cofounder of InventRight, authored the book Sell Your Ideas With or Without a Patent (CreateSpace, 2015). Key writes of the importance of finding a licensee willing to pay for the patent process on the innovator’s behalf.