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New invention

yortyort subscriber Posts: 2
edited May 2009 in Commercializing Your Invention
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

  • BizOptimizerBizOptimizer subscriber Posts: 1
    I`d stay away from the invent companies that want money upfont.  I`ve seen their work on the news shows and one of my employees got soaked for 20K he didn`t have.  Then I saw a patent for one similar my employee`s come out of the company`s associate company in Canada.  The "business plan" he got was almost 100% boilerplate.  Worthless!
     
    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
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  • yortyort subscriber Posts: 2
    How do i protect myself?. Patent? NDA?.
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  • BizOptimizerBizOptimizer subscriber Posts: 1
    I am not sure would need anything more than a utility patent or something to prove you had the idea first - talk to a patent attorney.  But patents aren`t always enforcable anyway.
    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,
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  • patentandtrademarkpatentandtrademark subscriber Posts: 103
    stay away from "invention promotion companies."  they can not and will not help you.
     
    Many parties will not sign an NDA, which is litle help even if they do sign it.
     
     
     
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  • AshtonAshton subscriber Posts: 2
    I agree with everyone`s advice regarding staying away from invention promotion companies.  My company is on the product development and manufacturing side--but if you`re interested in exploring patenting and licensing the product, I would look at inventorsalliance.org and inventright.com for resources and help.   They focus on education, they know their stuff, and are legit.
    Ashton
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