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how to approach company with idea w/o patent
ideasforrent
subscriber Posts: 3
Hi
I have an idea for a new design for an ink pen that offers a specific feature that I know people would love but that is not currently out there. But I have no patent. Is there a way to approach a company and share my idea with them for them to consider buying it from me if I don`t have a patent to protect the idea. Would a confidentiality agreement cover such a situation.
Edward Clutterideasforrent.com "Because an [idea] is a terrible thing to waste."
ideasforrent2007-7-29 20:26:48
I have an idea for a new design for an ink pen that offers a specific feature that I know people would love but that is not currently out there. But I have no patent. Is there a way to approach a company and share my idea with them for them to consider buying it from me if I don`t have a patent to protect the idea. Would a confidentiality agreement cover such a situation.
Edward Clutterideasforrent.com "Because an [idea] is a terrible thing to waste."
ideasforrent2007-7-29 20:26:48
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Comments
A NDA (non-disclosure agreement) or confidentiality agreement is something that you want to be armed with when talking to pretty much anyone if you do not have a patent. The kicker is that most of the big companies will refuse to sign one because that leaves them open for trouble in case they are also working on the same idea or something similar in house. It is common for manufactures to require a tangible asset such as a pending patent, copyright, or trademark. There are cases though that this is not necessary and you could get a deal. Personally (and this is just me) I would not start knocking on doors until I at least had "patent pending" status. It sometimes takes years to complete the patent process so I would not wait around for the pretty piece of paper, but I would get the ball rolling. That is JUST ME. I`m sure you`ll get some more great advice soon. Best of luck and keep us posted! I`m very intrigued by the thought of a better ink pen!GrillCharmer2007-7-26 15:24:12
Edward Clutterideasforrent.com "Because an [idea] is a terrible thing to waste."
I would recommend filing at least a provisional patent. You can easily attain a provisional patent for less that $500. One site I usually recommend is Legal Zoom.
Once you file a provisional patent, you are patent pending and you can go to the table with more leverage. Keep in mind though that you then have to file for your full patent within 12 months or you lose the protection.
This is a low cost way to protect yourself when pitching a product to a company.
File the provisional and then see what the interest is in your product before incurring the full cost of the patent.
Good Luck!
Feel free to view our educational articles; http://www.ideabuyer.com/news
At the very least, copyright the design. (approx $40)
Then get a Provistional Patent (approx $100)
Then seek a Patent Attorney (can get an NDA) who may assist or counsel you.
Good luck!