New invention
yort
subscriber Posts: 2
I have an invention that i developed more than six months ago. It`s an improvement from an existing product. I have a working Model that i use everyday. I feel that this will be a huge success. I do not have the thousands upfront that the invent help companies want. Can i take my product to a manufacturer and show them the improvement and go from there? . and if so how can i protect my idea beforehand?
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Comments
The TV show wrapped a piece of copper pipe around their neck to hold their cellular phone - the "invent" company said it was a great idea - just needed 10K to get it off the ground.
One of the millionaires before 30 I read about years ago watched his buddy roll a "cigarette" and use 2 rolling papers - took the idea for doublesize to one of the paper companies and gets a royalty on every one sold.
There are pittfalls both ways - protect yourself 1st. I would probably approach the company as it is most important to them. But as the guy who sued Sears learned - even the biggest companies can do bad things. Be careful - good luck!
BizOptimizer5/10/2009 11:27 PM
More important to get an agreement that if they use it in any form - they have to pay you for doing so. They`ll be reluctant to sign it, as it may be on their drawing board - so you try to take care of as many of the contingencies as possible. But at some point you have to trust - just don`t do it blindly -
Good luck,
Many parties will not sign an NDA, which is litle help even if they do sign it.
Ashton