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Inventor'sStep-by-Step GuideTo SuccessContents
IntroductionThis Step-by-Step Guide will walk you through the invention development process. It is assumed that you have already designed an invention or have an idea for one. We will not go into the actual inventing process itself. Read down through the following steps and hyperlink to those topics you wish more information. InventionMakerstm can help you with every step of this process. There are many options not covered here, so if you have more questions you can contact us at (352)331-0041. New clients should call between 9am and 1pm Eastern Standard Time(EST) Monday through Saturday. InventionMakers will Evaluate your invention for you free. We are looking for inventions that have good marketing potential. To submit an invention first go to our Paper Work page of this Web site and print the Non-Disclosure Agreement on a single letter size page using 0.75 inch margins. This agreement states that we will not disclose your invention to others and keep it confidential. You must send two(2) signed copies to: InventionMakers We will sign and return one copy. Then you can send us information on your invention. Back to TopRecording your InventionThe first step with any invention is to record it. Writing down your invention will make you think critically about your invention, and also preserve what you have created. It is best to record your inventions in a bound notebook, and have each page numbered. After recording your invention have a friend or co-worker read and sign the book on the pages you have written. They should be able to understand what you have invented. Include:
Back to TopThere are three other ways you can record your invention before you actually file for a patent. The first is to file a copy of your invention in the patent office's Invention Disclosure Document Program. This program allows you to record your invention up to 2 years at the PTO for $10. The second is to actually build a prototype and have trusted friends witness and document your invention. And Third, is to file a Provisional Patent Application with the PTO. This last one has its good and bad points. It is like the Disclosure Document Program except you can get a filing date if you apply for a patent within one year of filing the provisional application. I prefer the notebook recording and then using the Disclosure Document Program on inventions I am planning to patent. Determine value of invention - More InformationDetermining the value of your invention is an inexact science at best. But, it is possible to get a reasonable idea of a products marketability with a little honest evaluation. Such things as knowing the market your invention would be sold in is critical. If you know the successes and failures in an industry over a 20 years period you can make a good "guess" of a new product's success. Also important is the cost of the product. If it costs too much, even a good product will fail, thus you need to know what people are willing to pay for this type of product. Also, the product must have a way of being marketed. It does no good to have a good product without a way to market it. These three criteria are very important, but certainly not all that goes into determining a good product. Finally, remember that one persons trash is another's treasure, and inventions are no different. One manufacture or distributor may not have any effective way to market your invention, but someone else may find it fits in perfect with their other products and pay handsomely for it. So remember don't just take one persons word for the value of your invention. InventionMakers even likes to get outside evaluations for the inventions we take on. For more information, Click Here. Back to TopPatent Search - More InformationOnce you have recorded you invention it is time to see if someone else has already thought of it. Ideally the inventing, recording and searching of patents can all take place together because each can influence the other. Many great inventions are the result of seeing what has been done and doing better. You can do your own patent search at IBM's Patent Database, or you can have us do a patent search for $99. If for some reason your invention has already been invented, there still may be a chance that with our Co-Inventing program we may see design changes that not only make the invention unique, but also improve it as a product. Thus, it is sometimes worth having InventionMakers take a look at it even if you find a patent similar to your invention. Also lay people often don't know what to look for to determine if another patent will keep them from getting a patent. When in doubt get professional advice.
Back to TopCo-Inventing - More Information We believe we can improve on your invention. The old adage, "two minds are better than one" is especially true in inventing. Here at InventionMakerstm we use the unique program we call Co-Inventing. We examine all the inventions in the area which you are inventing and improve on the state of the art. This new invention will be a combination of your invention and ours. In fact we will work together on this new design. You of course will have final approval on the design we propose to patent. If you, don't like it, we can make changes or give you your money back. However, if you except the refund you must relinquish the rights to the NEW invention we have come up with. Your design will still be yours to do with as you please. By using Co-Inventing, the inventor can reduce the cost of a patent, improve the invention's design, and gain a partner who is just as motivated to see the invention succeed as they are. This combination combined with a 100% money back guarantee gives the inventor unequaled risk reduction, while at the same time improving their chances for success. This combination is unbeatable. Finally a program that helps the small inventor; and InventionMakerstm is the only company with co-inventing. At this point in the inventing process there are a number of paths one can take. If your invention is a niche market product continue with the following Patenting section below. If however, your product is something that appeals to a large segment of the population and is something you would find in the major chain stores like Wal-Mart, K-Mart, Target, Eckerd Drugs, Office Depot, Home Depot, and many others then you should follow this link: FAST TRACK PROGRAM. The fast track program is not only a faster way to get a profit from your invention, it is also less expensive. By taking one step at a time, you as the inventor will find out if there is potential for your invention before you spend much money. The bad news is the chance of success is smaller. But, if your invention is successful, the rewards can be large. The next step after finding a patentable invention is to patent it. Once the invention application is officially filed it becomes known as "Patent Pending". Patent pending enjoys an interesting mix of advantages and disadvantages. One disadvantage is that it provides you with no legal protection from others making your invention. It is only after the patent issues that you have legal rights. Often, however, "Patent Pending" status can give you more protection than even a patent. While a patent is pending, no one knows exactly what is in the patent or when it will issue, thus another company cannot safely invent around your patent, since it does not exist yet. They could spend hundreds of thousands of dollars to tool up for you invention only to find that you get a patent a week later and they must stop production. Plus, the patent office allows you to "Hurry Up" your patent application and get it taken ahead of others, should this case arise. The result, is unacceptable risks for companies to try and copy an invention while the patent is pending. Once you have a patent, everyone can see what you are claiming as your invention and can start finding ways around the patent by improving your invention. Getting a Patent is relatively easy if you have a novel invention, though it can easily cost several thousand dollars. Here at InventionMakerstm our patent prices include Co-Inventing (see above) and re-engineering. You get a better invention to patent at lower cost, and we get cost-sharing and someone who knows the market. Your approval on the new design is important to us so we give a money back guarantee if you are not satisfied. Patents take about 1 to 3 years to issue once the application has been filed. This leaves plenty of time to market the invention if we decide this is the best route. Engineering - More Information Engineering is the first step toward production of a product. This phase can easily be the most expensive, since there is no way to easily estimate the cost. The invention must be completely and accurately designed for a good product to be manufactured. It is in this step that any technical engineering problems must be solved. Everything must function properly and fit together precisely for the invention work properly. This can take lots of time and lots of money. The good news is InventionMakerstm pays this expense, you don't. Prototyping - More Information During the engineering phase, prototypes of the design must be made to test. Usually two or three redesigns are needed to reach a "final" design. We use "Rapid Prototyping" companies to make our prototypes. This process, as the name implies, is fast. A computer controlled machine builds up the 3-dimensional part using a number of different processes. Parts can be made this way relatively inexpensively and made from a wide variety of material, including: PVC, Nylon, Acrylic, Metals, Wax, and etc. Costs for parts usually run in the $100 to $300 range, more for large parts. You can read more about Rapid Prototyping at Laserform, Inc., C-ideas, Rapid Engineering, and 3-Dimensional Engineering. InventionMakerstm requires the inventor to pay these expenses. Manufacturing - More Information Molds and dies must be made before manufacturing can begin. This phase of development can take months, as there are several steps that must be made to produce the parts. New rapid-development technologies have both reduced cost and time needed to manufacture a product. Having the molds or dies made is only the first step. Getting the proper finish and making sure the parts are acceptable is the next. The parts must then be manufactured, assembled, and packaged. This expense can be negotiated, but we usually require the inventor to pay for all third party expenses, which can be considerable. InventionMakerstm usually requires a down payment of good faith money before starting on the engineering design, though this is negotiable. The final step is the marketing of the product. This phase actually starts before the product is engineered, and continues until the product is no longer on the store shelves. However, most of the cost and the time devoted to marketing will occur at the introduction of the product to the market place. When the advertising and promotion material comes out, there must be product to buy. The safe route is to wait until the molds are finished and tested before starting the promotion campaign. This leaves the molds sitting idle for as much as 3 months waiting for the advertising to move through its channels. InventionMakerstm covers the cost of marketing though we do not discourage the inventor from getting involved. Successful marketing requires research into two primary areas: 1) Defining the target market, and 2) Developing a promotional strategy. In defining the market, the product's potential customers must be identified using demographic characteristics. Awareness of sales, trends and current data about the market is essential. Market segments can be classified in a number of ways, such as, age group, income level, gender, educational status, location, race or special interests. Once your customers have been located a means of promoting the new product must be identified. If products fit into niche market retail stores, then trade journals provide unequaled advertising. These journals are sent to retail store owners which must buy stock for there stores. And they must also stay current on all the products out there. If you have a new and improved product, they must buy it to stay current. However, if the product doesn't sell on the shelves then they will stop ordering it. Thus, marketing can't fix an unpopular invention. Specialty catalogs, and television sales are also possible marketing options. And if mass market is practical the product can be placed in large retail stores, though this is difficult. Mass Marketing - More Information A few inventions have the possibility of becoming mass market products. That is, they are appropriate for the large chain stores such as Wal-Mart, K-Mart, Target, Eckerd Drugs, Office Depot, Home Depot, and many others. These products must have mass appeal. If most people would not consider buying your invention you probably don't have a mass market product. These products must be handled differently than inventions in the niche markets. To effectively market these products we need to get some high power people involved. It takes Millions of dollars to successfully bring a product into mass production. To gain access to these people with money for investment we must follow specific channels of intermediaries which insulate them from inventors with an "idea" knocking at there door. InventionMakers can help you get through this maze of reviewers, and have your invention looked at seriously. The advantage of going this mass market route is that if these people believe in the invention, they can take it to market at no cost to the inventor. This is a hard deal to pass up if you have a mass market product. If you want to go this route we will need a royalty agreement to decide how money made through licensing will be distributed. InventionMakers fee for handling this delicate process is disclosed on our Prices Page. Contact InformationElectronic mail address Address Back to TopComments and SuggestionsBack to Top
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