The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Live your best life.

Tired of paying for dead communities hosted by absent gurus who don't have time for you?

Imagine having a multi-millionaire mentor by your side EVERY. SINGLE. DAY. Since 2007, MJ DeMarco has been a cornerstone of Fastlane, actively contributing on over 99% of days—99.92% to be exact! With more than 38,000 game-changing posts, he's dedicated to helping entrepreneurs achieve their freedom. Join a thriving community of over 90,000 members and access a vast library of over 1,000,000 posts from entrepreneurs around the globe.

Registration at the forum removes this block.

Inventing a New Gadget/Item/Tool: Worth the Process?

Idea threads

Yanezez

Contributor
MEMBER
User Power
Value/Post Ratio
37%
Dec 13, 2022
78
29
France & Chile
Hello all,

I've been reading on the whole process to undergo if you think you have an idea of a new product. I am still researching so hopefully someone here knows more than me (very likely).

It seems that inventing a new product is very risky from a legal point of view, as;

a) Even if you patent, nothing really stops someone else from another country making the same thing. In China especially, they won't care for the patents.
b) The patenting process can be fuzzy (depending on the country)
c) So you invent something with value, you can try producing some units and let's say you sell on Amazon. In a very short time, you'll get replicas and even with patent there is very little you can do.

This is in a context where its you alone, so you don't have an army of lawyers. Most of the time, inspiring inventors don't have a lot of cash anyway to follow through a lawsuit.

I would love to be wrong (and most likely I am). But wanted to hear from those with more experience than me
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

shubham___3011

Contributor
LEGACY MEMBER
User Power
Value/Post Ratio
53%
Sep 29, 2023
125
66
India
Hello all,

I've been reading on the whole process to undergo if you think you have an idea of a new product. I am still researching so hopefully someone here knows more than me (very likely).

It seems that inventing a new product is very risky from a legal point of view, as;

a) Even if you patent, nothing really stops someone else from another country making the same thing. In China especially, they won't care for the patents.
b) The patenting process can be fuzzy (depending on the country)
c) So you invent something with value, you can try producing some units and let's say you sell on Amazon. In a very short time, you'll get replicas and even with patent there is very little you can do.

This is in a context where its you alone, so you don't have an army of lawyers. Most of the time, inspiring inventors don't have a lot of cash anyway to follow through a lawsuit.

I would love to be wrong (and most likely I am). But wanted to hear from those with more experience than me
Hey there buddy, can you please let us know what advice/suggestion you are looking for?
 

Yanezez

Contributor
MEMBER
User Power
Value/Post Ratio
37%
Dec 13, 2022
78
29
France & Chile
Hey there buddy, can you please let us know what advice/suggestion you are looking for?
Apologies, I think I may have used the wrong tag (I assume responsibility). I don't have an idea per se, just wanted to get feedback from those full-on inventors.
 

Become a Fastlane Member Today to Read More or Comment.

This thread has
23
more posts!

Join MJ DeMarco's Inner Circle and Rub Shoulders with Other Millionaire Entrepreneurs

Imagine a multi-millionaire mentor by your side EVERY. SINGLE. DAY. Since 2007, MJ DeMarco has been the driving force of Fastlane, contributing on over 99% of days—99.92% to be exact! With over 38,000 posts game-changing posts, he's dedicated to helping entrepreneurs achieve freedom. Join 90,000+ members and access a vast library of 1,000,000+ posts from entrepreneurs worldwide.

Fastlane isn’t just another community led by an absent guru. By joining, you enter MJ’s inner circle—a supportive home where you’re never alone. Embrace true mentorship and transform your entrepreneurial journey with the Fastlane Forum.

Basic Membership (Monthly)

  • Read all threads in the main forums/categories.
  • Post comments in existing topics.
  • React to any comment/post.
  • Post new topics/threads.
  • Sort big threads by best posts.
  • Cancel anytime

$5 per month

Join Now

Basic Membership (Yearly)

  • Save 22% vs monthly
  • Read all threads in the main forums/categories.
  • Post comments in existing topics.
  • React to any comment/post.
  • Post new topics/threads.
  • Sort big threads by best posts.
  • 30% Off a Yearly GoalSumo.com Subscription
  • Cancel anytime

$47 per year

Join Now

VIP Insider Membership

  • Same as basic plus...
  • Guaranteed read and response from MJ DeMarco*
  • Access to the private Insider forum for more advanced users.
  • Bookmark any posts
  • No non-sponsor ads
  • 50% Off a Yearly GoalSumo.com Subscription ($34 Value)

$119.88 per year

Join Now

* If you post any question or problem within the INSIDER forum, this guarantees MJ will read and respond to your post to the best of his ability at least one time. This guarantee does not imply a lifetime dialogue or a personal ongoing mentorship. Again, MJ has authored more than 38,000 responses at this forum since 2007.


Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Guest post submissions offered HERE.

Latest Posts

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top