what's the next step??

[michaelscheuren]

Hello everyone!! I have a couple of inventions and have a prototype built for one of them(the other one will take some time and research). My question(s) are: What is my next step? Do I apply for a patent? Do I pay an attorney to do a search to see if my product is already patented?

How does licensing work? Is this an option?

The invention that I have a prototype built for is really pretty simple and very easy to make. It also makes it alot easier to accomplish a certain task(don't want to go into too many details yet). The second idea is just an idea at this point, but I really believe it could be something really popular and something that could help almost every one. It will take alot of research and development but will be worth it in the end.

I am really new to the "fastlane" ideals. Was raised to work hard and save my money. I have always had a desire to better myself and live life in the fastlane. The ideas for my inventions came to me pretty quickly and I decided to try and build them before seeing what it takes to patent or license them. I really do not know what my next step should be. I want to get the first idea done before I start with the second one so I don't get distracted or lose focus and get nothing accomplished with either one.

I would greatly appreciate anyone's input and advice on this. What do you recommend the next steps should be? All of your comment, suggestions, advice, etc. is greatly appreciated. Thanks again!!!!:cheers:

Michael.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[RJP]

I would recommend buying and reading (studying) "Patent It Yourself" by Nolo Press. Also worth visiting Nolo Press online (lots of good info on patents and other legal info).

You can protect your idea before you apply for a patent. You should log everything in to an "inventors log". Sort of a written history of your idea/conception starting from when and how you came about the idea, and all the steps you have taken so far. Have it notorized periodically. Continue to add any developements to it, and have it notorized as you do. This is also good to have, if say for instance, someone else is trying to patent the same idea at the same time. You want to be able to prove that you had the idea first (if you did indeed have the idea first). "Patent it Yourself" will explain all of this (and more) in detail. Paranoia can paralyze you and kill an idea, so it's good to have it protected from the very start. But also remember, just because you have the notorized inventors log, the idea is not protected from copying. A patents rights are strictly "defensive". Meaning ... a patent does not stop someone from stealing your idea and profiting from it. You, as the patent holder, will need to enforce your rights to a monopoly on the invention by taking legal action against the infringer. So here is the problem with patents. Sometimes it comes down to who has the deepest pockets. Defending a patent should be done with a competent patent attorney, which can be very expensive. But, if the invention is highly commercial, then it will most likely be warranted.
That being said, I believe it is important to have signed non-disclosure agreements when you feel it necessary. For instance, if you enlist a company to do work on your invention.

Then, I guess, you have to decide if you are going to be an inventor, just making royalties from your patents. Or if you are going to manufacture and sell the product. Some people just like inventing. They will invent an idea, patent it, and then work to sell the patent to a manufacturer. The couple who invented the spin pop did this. They sold their patent to Cap Toys for royalties, then went on to invent and patent other candy/toy ideas. Sometimes, I believe, the royalties can be as high as 3% - 5%. (It depends on the commercial promise of the idea). Some very creative people make an excellent living this way. One way to sell you patent is to go the INPEX show (Inventors Trade Show). I believe it is the largest in the country. Hundreds of manufacturers go there to find products. Of course, that is not the only way. There are trade shows in just about every industry. For instance, if it is a toy idea, you can go to the Toy Fair in NY. (There is usually a smaller toy show at the same time .... if you can't get into the big one). Of course, you can also cold call manufacturers in the industry in which your invention pertains. Sometimes, they only take calls from inventors they have used before (people already in their Roledex), so it takes some effort getting thru to the right person. But it can be done, and in fact, is done all of the time.

The great thing about patents now (as compaired to pre-internet) is that you can simply go to the U.S. PTO. online to search the patents yourself. I did my first search at a Patent Depositary library. That takes a lot of time. Lot's of books and micro-film to go thru. It is much easier now. Remember though, the patent examiners do not just look at older patents for prior art. The look at trade journals, magazines, etc... The idea may not have been patented before, but that does not mean that someone did not manufacter something like it in the past.

If you do all of the work yourself, and apply for the patent yourself, it will not be very expensive. You will most likely qualify as a "small entity" (unless you are a large company). The fees are not that high. This does take a lot of studying and work. You must have the claims written-up correctly, etc... But it can be done. I would only do this if you feel you can be very competent at it and/or if it has only small potential. If it is a idea with a lot of comercial potential, then I would use a patent attorney. That's just my take on it. The high cost of patents is when you use the services of a patent attorney. Many times well worth it though.

(Please excuse any spelling/grammar errors. It's past midnight now, and I'm falling to sleep at the key board. Otherwise, I could go on forever about inventing)

Best of luck

 

[mtnman]

From Patent to Profit by DeMatteis is another decent one. Slightly dated by a couple years.

 

[HenkHolland]

Start with a patent search. Not only to establish whether you can get a patent for your concept, but also (and definitely not less important) to make sure that you don't infringe on somebody else's patent(s).

There are several decent books as the few already mentioned by RJP and mtnman on how to go about making money from your invention. Two other books that I liked are: "The Inventor's Bible" by Ronald Docie and "Will it Sell?" by James White.

Online there is some useful information on the website www.dondebelak.com . The "Product Evaluation Report" on Den Debelak's website can also be helpful.

Good luck.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[kurtyordy]

file for a provisional patent, good for one year. can do it yourself. very little investment.

search for the patent first as ustpo.gov

 

[michaelscheuren]

Thanks for the replies and info!! Please keep them coming! When doing a patent search, how do you search to see if there is already a paptent on it? By name, category or??

Also, can you improve or modify an existing product( the new version will do the same task as original just do it better/ faster and is more conveinient) without violating any existing patents?

If something is already patented, will you violate any laws by making the same product out of a different material? Does the patent cover just the design and specific materials used for that product?

Example: say someone makes and patents a product made out of steel. can i produce a similar product if it's made out of aluminum or will that violate the first patent on the steel product?

Thanks again for all the help!!

Michael.

 

[kurtyordy]

I recommend buying the info over at inventright.com. I found it very informative.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.