Sage-Tips

Where do I go if I have an invention idea?

Visit the U.S. Patent and Trademark Office (USPTO) website and investigate any patents on items like the one you want to invent. If you have questions or want to be sure your invention is legal for you to create and sell, consult with an attorney specializing in patents and IP law.

How do I get paid for my invention idea?

You can sell your invention idea, or you can outright sell the invention itself for one large lump sum as compensation for your idea. The second option is to enter a licensing agreement. You would collect royalties each time your product is sold.

Should I license my invention?

Licensing or assigning your invention is often preferable for inventors who want to make money, but care primarily about innovating and spending time in the office or lab. Inventors must have some sort of intellectual property protection over their invention, which another person or entity would buy (or “rent”).

How do you prototype an idea?

4 Steps to Build Your Product’s First Prototype

1. Create a Concept Sketch. The first step toward turning your idea into reality is getting it down on paper.
2. Develop a Virtual Prototype. At some point it’s going to be invaluable to create a digital sketch of your idea.
3. Build a Physical Prototype.
4. Locate a Manufacturer.

What percentage of inventions fail?

According to Harvard Business School professor Clayton Christensen, there are over 30,000 new products introduced every year, and 95 percent fail.

How to launch an invention?

Educate Yourself about Inventing and Business. A great idea is only worth the paper it’s printed on.

Stay Organized. As you start moving forward with your idea,it will become difficult to keep track of all your progress.

Conduct Market Research.

Conduct Patent Research.

Develop a Prototype of your Invention.

Create a Business Plan.

How to create new invention ideas?

Observe Your Environment When you start with an entrepreneurial mindset,you’ll have a different perspective on the ordinary things all around you.

Find Your Niche When starting out,specialization is a more effective tool than targeting different markets.

Determine Problems Are you good at anticipating problems before they occur?

How to sell your invention idea?

Research your market. You will need to obtain as much feedback as you can on your idea. You can do this through focus groups or use other methods. You

Make sure the legalities are on the up and up. Make every effort to if your invention can be patented or manufactured without infringing on the right

Research your production options. Take the time to learn about the process of production,especially if you have some specialized materials or

Once you have completed these steps,you will then need to show it to those who may want to license your invention. You should also have a 3-D

How to patent an idea?

1. Keep a record of how you came up with the idea and your step by step progress.

2. Research your idea to make sure it is eligible for patenting under established patent law.

3. Make a prototype of your invention when filing a patent.

4. Prepare your patent application and understand the cost,patent type,and possible provisional patent.

5. Filing your patent application to obtain the actual patent that protects your invention or design.