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making an idea a product?
Former Member
Posts: 1,876,323 The Mix Honorary Guru
I have a very simple idea that i think can be used all over the world and i dont know how to bring it into fruition, where can i go with my idea, or do i have to patent it first?
And if i do have to patent it first, does it have to exist, i.e do i have to create it, as such it is in my head, i have done no paperwork with it whatsoever, as it doesnt need a lot of engineering as very straight forward.
if i go to manufactor a sample before a patent if could risk a copycat...
anyone in the know
:thumb:
And if i do have to patent it first, does it have to exist, i.e do i have to create it, as such it is in my head, i have done no paperwork with it whatsoever, as it doesnt need a lot of engineering as very straight forward.
if i go to manufactor a sample before a patent if could risk a copycat...
anyone in the know
:thumb:
0
Comments
If this is something you really believe in, I'd consider the following: go to the "patent office", then try to figure out if someone has invented anything like that in their registry. In order for a potential patent to be valid there are certain rules about your product being different to other that may or may not resemble it, and the extent to how much your and the other ones' product differ. Yes, I know I wrote this in a very ambiguous manner. That's because the rules about patents may be hard to understand and how to interpret them. Buy a book about it, talk to the patent office etc.
Also have in mind that applying a patent to your product can be very expensive. That's why so many small production companies take the risk and choose to go witout a patent and wait until they have a more solid equity. This means that there's nothing that legally prevents others from stealing the idea, but depending on the type of product this might just be ok as the number of people knowing about the product is fairly low in the beginning (and thus the number of people who can steal the idea.), when and if the product turns more popular and sales rise more and more people will know about it, thus the company a greater risk if they still don't apply a patent.
There are also some more or less "standard" steps conducted by those who want to get into the world of enterprise.
-make a business summary, short brief of what your company will produce, the companys values and so on.
-business plan, which often involves.
detailed description of the company and products
detailed description of target market(s)
detailed description of the potential market and perhaps known competitors
description of investors (if it's just you in the beginning, this is not that important)
a good cost analysis, budgets, price calculations, all costs etc. This should include expected market size/sale, preferably for at least 5 years ahead.
How much amount of resources you wish to spend on such a plan may vary. If it's just you in the beginning and you're not looking for external capital, the demand for details may not be that high. Nevertheless, the companies that do survive in the long run are undeniably founded on a solid basis. The more research you do, the more you help yourself.
If looking for extra capital (investors) the quality of the business plan may increasy considerably, and you will very often be required to do one or more presentation for interested investors.
There's a lot more to it than I've written here, so I'd consult some enterprise literature as well. I'm sure there are other forums targeted at the business founder as well. Good luck.
You've been very wary about giving any details about your idea on this forum - that's good, you can find that even if you've discussed the idea with a friend it will be hard to patent as it will then be classed as 'in the public domain'. As well as the patent office try visiting www.trevorbaylisbrands.com