Sunday, October 27, 2013

10 steps to get a new invention out


1.Patent search - us and worldwide. Verify what is out there, so you could see how to avoid similar mistakes
Market research and analysis- see who's your competition their technologies, materials, where they sell, for how much.
2.Ideation- explore various ways that your concept could work, try to see what additional features and benefits would you be able to provide to its consumer
3.Concept development - take those ideas and transform them into sketches, rough mockups using off the shelf parts ect'
4.3D computer models - use the latest technologies of CAD systems to provide all the details of your invention.
5.Prototype - create a prototype using a 3D printer to print out your concept, or use CNC machines, metal shop ect'
6.patents - apply for a provisional patent application, to give yourself a patent pending status for 12 months, and establish the priority date in the patent office. Use those 12 months to explore manufacturing options, investors, or potential companies to license your idea to. Later you can apply for a non provisional patent - utility patent or a design patent.
7.Business plan - prepare a business plan or an executive summary with financial planing to raise money from investors.
8.Investors VS Licensing - building your own company, manufacturing and Marketting VS licensing your idea to another company.
9.Crowdfunding vs investors use websites like kickstarter or indigogo to start preselling your product and to avoid the need of investors.
Fundraising - explore angle investor groups or angle investors to start the Manufactring and Marketting your product.
10.Marketting - websites , special magazines, mail catalogs, tradeshows, SEO, social media

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