Tips and Strategies for your Invention
- When genius strikes and you come up with a great idea, create a record of your idea before going any further with it. The record of invention should be written in ink and should include:
- a clear description of your idea,
- the date,
- your signature, and the signatures of two people you trust who have “witnessed and understood” your invention and the dates they sign.
- You must have a prototype built as soon as you can to transform the idea into a physical object.Once you have a complete drawing we can help you build your prototype.
- Be discreet. Do not talk about your invention with people who are not bound by a confidentiality agreement.
Always protect yourself from potential scams with a non-disclosure agreement.
- Keep good, complete, and accurate written records, including:
- A written lab book or log, kept up to date as you work on your invention, that documents each day you did something, describes the efforts you have made in taking your invention from idea to reality (including testing results, experiments, modifications).Note: Have two witnesses sign and date your record book stating that they have “witnessed and understood” the work you have done to build and test your invention.
Copies of all correspondence (including e-mails!) and any receipts relating to your invention.
- Don’t do too much work on your invention until you get a good idea of whether it will sell well.
- A suggested rule of thumb to determine whether your invention will sell well is that the total sales will be at least twenty times the cost of inventing and patenting it.
- Include in your cost calculation the cost of filing fees, hiring a lawyer to help with your patent filing and the person who prepares the drawings of your creation.
Do market research, go to the public and see if they would be interested in buying a product like yours. This is a good way to discover value and set price point for your product.
- Assess whether you will be able to get a patent on your invention. Answer the following questions:
- Is your invention novel?
- What is the prior art?
- If you are improving on something that has already been patented, is your invention a new physical feature, a combination of prior separate features, or a new use of a prior feature?
- If you are improving something that has already been patented, is your invention not obvious?
- Does your invention produce a new and unexpected result?
- Does your invention fall into one of the five classes of items that may be patent-able? That is, is it a process, machine, an “article of manufacture,” “compositions of matter,” or a new use of any of those items? At Source Direct, we have a network of preferred attorneys licensed by the Patent and Trademark Office. Our patent attorney locator on our website is growing every day! Look for an attorney near you on our locator and let them know you found them on our website!
- Keep a file for your invention that contains items and information you and your lawyer will need while you prepare your patent application.
- Market your invention.
At Source Direct we can handle website development and maintenance, social media management, and online sales. We help you develop your brand while you do what you do best! Don’t stress about contacting big-box retailers or posting daily on your social media we can handle it all!
As an inventor, you would likely rather spend your time perfecting your new invention or idea. Give the experts a call today and see how we can help you take your invention to the next level!