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Patent portfolio type Business advice

IDNeon357IDNeon357 subscriber Posts: 1 Member

I've been browsing StartupNation and came to the conclusion the type of business I want to start would be one which primary product would be patents.

I'm struggling to understand how to start such a business, where the intended financing would be directed toward achieving a patent for an idea of mine. Until the product is developed, no patent can be issued.

What are ways to protect the stages of development?

What are challenges to receiving financing for a product that isn't invented yet?

I'd prefer to create financing that protects me from the lack of a finished product. I don't expect risk free, but I don't want to take out a direct loan either. I don't see the point in getting a bank to finance me at interest when there is possibly no hope of producing a profitable product.

So how do scientific research companies do it? I've seen example where they receive grants for instance, but I have no experience in pursuing this in any way.

I hope someone with experience being funded by grants, or by angel investors who understand the risk but believe in the idea, could give some advice on their experiences and how they protected themselves from financial risk beyond what they themselves invested.

I definitely believe my invention idea could generate a profit, but it's too large scale that it'd require way too much capital to bring it to production, so I figured the easiest path is to just start with shooting for a patent portfolio.

Thanks!

Comments

  • Elias47Elias47 subscriber Posts: 10 Bronze Level Member

    Embarking on a business focused on patent-driven products is a strategic move! To safeguard the development stages, consider documenting your invention through provisional patents or non-disclosure agreements, providing a foundation for protection during the ideation phase. Exploring avenues like research grants, angel investors, or crowdfunding can offer financial backing without the pressure of traditional loans, aligning with the innovative nature of your venture and minimizing early-stage risks.

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