"If you can demonstrate to a company, how your invention can make them a profit, you'll have their attention...
...the rest is up to you"
Catherine R. - inventor
Can I sell my idea myself?
Yes. Nobody has more passion and knowledge for your idea than you, the inventor. All you need is a professional presentation, a list of companies who manufacture relatively similar products, several hours of time, a little luck and a lawyer to write things up.
How do I sell my idea?
…check out the Virtual Package
What can I do with my idea?
Coming up with a good idea is the hardest part. You can develop it, sell it, manufacture it or do nothing.
How can I protect my idea?
We recommend you to seek a patent attorneys’ advice for questions about protecting your idea, however, the general steps we recommend are that you:
- get your idea on paper
- File a provisional application for patent
- Finish developing your invention
- File for full patent
- Market and sell your invention
Check out this site for patent assistance: www.inventionaid.com
How long does it take to develop an idea?
This depends on how complex the idea is and whether you want to try and sell the idea or whether you want to manufacture it. The auto industry takes 5 years to get a new car to the road.To sell your idea, you only need to “convey” the idea in a professional and believable manner and let the buyer refine the invention. This process can take several weeks depending on the invention, and the number of changes requested by the inventor. There are no guarantees it will sell. To manufacture an invention, you will need to fully develop the idea to include building prototypes. This can take several months or even years, depending on your invention. If you have fully developed the invention, you may be able to find an overseas company to manufacture the invention in your name.
How much does it cost to develop an idea?
It’s impossible to be able to tell you accurately, upfront, what your expenses will be. Again, this depends on the invention and whether you plan to sell it or manufacture it. Big companies can spend thousands and millions to develop projects. Use these numbers below as a very loose guideline on costs. And, of course, these numbers don’t reflect all the little things that come up along the way.
- Get the idea on paper or on a computer . . . . $1,000 – 5,000
- Protect your idea (patent, search etc.) . . . . $5,000-10,000
- Build prototypes . . . . . . . . . . . . . . . . . . . . . . . . .$3,000-100,000+
- Market invention on website . . . . . . . . . . . . . .$2,000-4,000
- Hire a licensing company to sell your idea . . $5,000-15,000 + royalties
- Marketing(TV, radio, magazines etc.) . . . . . .$50,000 ++
Patents:
Without question, when you are ready to file for a full Utility patent* or Design patent**, you will be best served by hiring a Patent attorney. They “speak the language” and “know the system”. Expect to pay from $5000 to over $10,000 to hire a patent attorney, based on the complexity of your invention. That being said, there are easier, fast ways that you, the inventor, can get “patent pending” status for your idea.
Filing a Provisional Application*** for Patent is the fastest, easiest way to start protecting your invention. You'll receive a priority filing date from the U.S. Patent Office and have the right to label your invention "patent pending” for a period of 12 months from the date your application is filed. You can download the Provisional Application for Patent here.
2009 Price $110. for small entity payable to the patent office.
This is a link to information for Provisional application.
This is a link to information for Utility application.
This is a link to information for Design application.
Do I need to get a full patent right away?
Start by researching the different patent types at http://www.uspto.gov/.
A full utility patent will probably cost from $5000 to $10000 depending on how complex your invention is and who you use to write it. Most new inventions evolve as they are being developed and key features may change along the way which your original patent may not cover very well.
We recommend inventors get a patent search done first, next file a provisional application, then work on developing your invention and when you’ve refined your invention into a viable product, then hire a patent attorney to file a full patent.
What about a patent search?
There are several sites on-line where anyone can perform a patent search, such as http://www.google.com/patents. The better you can describe your invention, the better your search results will be. If you don’t feel confident with your search results, you should consider hiring this out to a patent attorney who will provide this service for anywhere from $500 to $3000 depending again, on how complex your invention is and who you hire. Remember, you get what you pay for!
What is a provisional application?
You don’t need to be a patent attorney to fill this out or file it. This application, once filed with the Patent Office, will allow you to consider your invention as “patent pending” and it gives you 12 months to develop your invention before you need to get a full patent. As with any legal issues, the better you describe your invention, the better your coverage if you are contested. Patent attorneys do this for a living, so they really are worth the expense. Go to click here to research provisional applications. Here’s the provisional application form you can download now. Last I checked, these cost $110.00 if you file them yourself as a small entity. Don’t forget to include a drawing.
Do I need a physical prototype?
If your 2D representations of your invention are good, just imagine if you had an actual working sample of whatever your idea is. Would it make it easier to sell? The answer is obvious.
Will a company buy my “idea”?
Honestly, who really knows? Nobody can tell the future. Whether a company buys your idea depends on several factors such as:
- Does your invention complement their product line?
- Are the rights to the invention protected?
- The current economic conditions.
- Is the company in the market for new ideas?
- Will your invention make a profit?
What if I want to manufacture my idea?
This route requires significantly more commitment in time and resources and attention to details. Even if you just want to make 1 working prototype for tradeshows or testing, you will, most likely, need to work in a 3d physical format so you can work out any issues with the invention BEFORE you go to the expense of tooling dies etc.
Depending on the idea, you may need some type of form study to analyze how your invention will feel to the end user. Then, you’ll probably want to determine that your invention will actually function as you think. This is done with a “mockup” prototype. Finally, when you’re happy that your invention does work and you’re happy with the look, you can decide whether you need a final pre-production prototype before you look at manufacturing production units.
…check out the Professional Package .
Does Develop Your Idea, Inc. submit inventions to companies for licensing?
We are NOT an invention submission company. We’ll provide you the tools you need to sell your invention. BEWARE OF ANY COMPANY WHO SAYS THEY CAN SELL YOUR IDEA. Especially when they want you to send thousands of dollars upfront and sign away your rights to some of the profits. We’ll give you a portfolio presentation of your invention PLUS a list of companies you can send to.