Ideas are everywhere. People are constantly thinking up better ways to do things and make peoples’ lives easier. Every year, more than 1.6 million new patents are filed worldwide and millions of new ideas sit on the desktops of basement inventors waiting to be turned into the ultimate money making, life altering product that they have dreamed of creating since childhood. Turning those ideas into marketable products though can be an incredibly ...
Ideas are everywhere. People are constantly thinking up better ways to do things and make peoples’ lives easier. Every year, more than 1.6 million new patents are filed worldwide and millions of new ideas sit on the desktops of basement inventors waiting to be turned into the ultimate money making, life altering product that they have dreamed of creating since childhood. Turning those ideas into marketable products though can be an incredibly lengthy, complex process, especially for the independent inventor with limited resources.
In this age of the self-made celebrity, expert, and business owner, there is no reason why you cannot market your inventions as well and create a demand for your amazing new idea. With the help of this comprehensive guide to the invention marketing process, you will learn everything you need to know to go from independent inventor to profiting entrepreneur. It starts with knowing exactly what the current independent inventor is dealing with – the market climate and how things like the Internet have fundamentally changed how new products are presented. You will learn how to start commercializing what, to this point, has only been an idea – researching the industry into which you are trying to enter, how long to wait, what the actual value of your product is opposed to the perceived value and how you can calculate that actual value, and how licensing and marketing work on a fundamental level.
You will learn the ins and outs of the patent process and what you need to do to protect every exceptional idea you ever develop. To supplement your patent, you will learn how to time the marketing of your product to best take advantage of a fresh patent without showing your hand. The value of test marketing and interviewing an audience of demographically valuable individuals will be explained in full detail alongside the costs and timetables for submitting your product and preparing it for licensing.
The nuts and bolts of approaching potential licensees is discussed, with specific instructions as to how you can contact them, promote your product, and make them realize that they cannot do without your invention. Many inventors and business owners were interviewed in the process to gather an industry perspective that you cannot find anywhere else. Determining the market value and creating a joint venture are discussed along with the legal implications of licensing your product and making sure you receive the proper royalties for the work you do. You will be provided with the information you need to make sure you get paid properly for everything you do and an easy walkthrough to the process of negotiating a contract, no matter how little experience you have in the business world. For any inventor with an idea in hand and a desire to share it with the world, this book provides a complete guide for everything you need to do to see your invention on store shelves in no time.