What to do with your new invention

What to do with your new invention

When you come up with a new invention, there are several important steps you should take to protect your idea, develop it further, and bring it to market. Here’s an overview of what to do:

Document Everything

  • Write Down the Idea

    : Record the invention process, including the concept, how it works, and potential applications. Include drawings, sketches, and detailed descriptions.

  • Date Your Work: Make sure you date all your notes and documentation to establish a timeline of your invention’s creation. This can help if there are legal disputes later.

Research and Confirm Originality

  • Conduct a Patent Search: Use databases like the U.S. Patent and Trademark Office (USPTO) or international equivalents to see if your invention is truly original and has not already been patented.
  • Market Research: Check if similar products exist. Analyze competitors, target market, and demand to see if your invention has commercial potential.
sketch down your rinvention

Protect Your Idea

  • File a Patent:
    • Provisional Patent: This is a temporary patent that gives you “patent pending” status for 12 months while you continue developing your invention.
    • Non-Provisional Patent: This is the full patent application that provides long-term protection for your invention. You can file it once you’re confident in your invention’s value.
    • Utility Patents: Protect functional aspects of your invention (how it works).
    • Design Patents: Protect the unique appearance or design of your invention.
    • Work with a Patent Attorney: A lawyer can help ensure your application is correctly filed and offers the best protection.

    Create a Prototype

    • Develop a Working Model: Build a prototype to test how your invention functions. This will also help attract investors or potential partners, as they can see a tangible version of your idea.
    • Refine the Design: Use the prototype to identify potential improvements and flaws. Iterate the design to enhance functionality or cost-effectiveness.

    Develop a Business Strategy

    • Decide How to Bring it to Market:
    • License Your Invention: You can sell or license your patent to an existing company. They take on production and marketing, and you earn royalties or a lump sum.
    • Start Your Own Business: Manufacture and sell the invention yourself. This gives you full control but requires significant investment in production, marketing, and distribution.
    • Write a Business Plan: If you plan to start your own business, create a detailed business plan outlining costs, target market, manufacturing, and revenue expectations.

    Seek Funding

    • Pitch to Investors: If you need financial backing, you can pitch your invention to venture capitalists, angel investors, or even use crowdfunding platforms like Kickstarter or Indiegogo.
    • Apply for Grants: Some governments and organizations offer grants for innovation in specific industries, such as technology or green energy.

    Market Your Invention

    • Develop a Marketing Strategy: Create a plan to market your product. This can include online advertising, social media campaigns, partnerships, or trade shows.
    • Build a Brand: Register trademarks, design a logo, and build a brand identity that makes your product recognizable.
    • Sell Online or in Retail: Decide whether to sell directly to consumers online, approach retailers, or both.

    Protect Your Intellectual Property Globally

    • International Patents: If you plan to sell your invention in other countries, consider filing for patents outside your home country. This process can be complex, so consult a patent attorney.

    Monitor and Enforce Your Patent Rights

    • Watch for Infringements: After your patent is approved, monitor the market for potential infringements. You may need to take legal action if others copy your invention.
    • Licensing or Selling Your Patent: If you don’t want to manufacture the product yourself, you can license your patent to other companies for royalties or sell the patent outright.

Frequently Asked Questions About Filing a Patent

Q: 1. How do I protect my invention?

You can protect your invention by filing for a patent. Start with a provisional patent for temporary protection, then apply for a non-provisional patent. You can also consult a patent attorney to ensure proper filing and safeguard your intellectual property from competitors.

Conduct a patent search using databases like the USPTO or Google Patents to ensure no one has patented a similar invention. Research the market to see if similar products exist. This ensures your invention is original and avoids legal issues down the line.

Start by sketching and creating a basic model to test the functionality. You can build a physical prototype using materials or hire a prototyping service. Digital prototypes with 3D modeling software are also an option. Prototypes help identify issues and improve your invention before manufacturing.

You can either license your invention to an existing company or start your own business. Licensing allows you to earn royalties without handling production, while starting a business gives you full control over production, marketing, and sales but requires more investment and effort.

Funding can come from venture capital, angel investors, or crowdfunding platforms like Kickstarter. You can also explore grants for innovative projects. A strong business plan and prototype will help attract potential investors or backers to provide the financial support needed for development.

Develop a marketing strategy that includes online advertising, social media, and trade shows. Focus on building brand identity with trademarks and logos. Use platforms like Amazon or your website for direct sales or approach retailers to distribute your product in physical stores.