If you have an idea for invention a product, there are many ways to get it manufactured. One way is to seek help from friends and family. You'll need to convince them that your product will be a hit and will be profitable for everyone involved. Another option is to seek out angel investors to provide seed capital and on-going financial support.
Market research is an important part of the process of inventing new products or services. It provides a comprehensive understanding of the market, how it responds to a product or service, and how best to reach it. The information gathered during this process can be used to develop a product or service that is both desirable and effective.
One of the most important parts of the market research process is determining how much a product will cost to manufacture. This is done by studying other similar products in the market and looking at the prices of each. Knowing these costs will help you determine what price your product will be sold for.
Performing a preliminary patent search on an idea is crucial to deciding whether it's patentable. This involves looking for similar patents to your invent idea in a specific class, or prior art, and determining whether it qualifies. The United States has a system for identifying similar ideas called the Cooperative Patent Classification System (CPCS). Keyword searches can be used to supplement the CPC search, but there are a few dangers to be aware of.
A patent search is more involved than a simple Google search, and requires searching the entire USPTO database, which includes existing patents, pending patents, published works, and other prior art. While the search may be expensive, it can save you a significant amount of time and money in the long run.
If you have an idea for an invention, making a prototype can help you make a product that will sell and gain profit. Prototypes are essential for marketing, pre-selling, and raising financing. They also allow you to weed out kinks in your product before it goes into production. A high-quality prototype will reduce the amount of decision making that a manufacturer must make.
The most important aspect of product development is the prototype. If possible, show it to prospective users and get their feedback. You can use online tools like SurveyMonkey to gather information about your product. You can also show your prototype to potential investors to get their feedback. With the right feedback, you can build a crowdfunding campaign that will result in a successful product.
The process of finding a licensee for an invented idea starts with contacting companies and organizations that may be interested in your idea. You should send a one-page invention brochure and cover letter to your contacts and request a meeting. If you're addressing a large company, it may take some time before you can get your idea in front of the right people, so be patient and persistent.
Inventors should also prepare detailed drawings or images of their product prototypes. Though a working prototype is not necessary when patenting an idea, it can be useful. An inventor should also create a sell-sheet, a one-page description of the benefits of his or her invention. The sell-sheet should be illustrated with a visual image.
Whether you're an inventor looking for seed money or need substantial capital, a number of people in your network may be interested in investing in your idea. Because these people already know you, they're more likely to invest in a good idea. Also, those in your business network may have access to significant capital, and they can evaluate whether the product has the potential to be a good sell.
To find investors, you'll first need to market your invention. Investors prefer to work with inventors who know how to market their invention. It's also a good idea to create a business plan, which will help you organize your strategy and convince potential investors to invest in your idea.