How to Find a Licensee for Your Invention

Drag to rearrange sections
Rich text content

 

The invention is the process of creating a new product or service that solves a problem. The process includes three steps: research, analysis, and problem solving. Research is the most difficult step. You should think outside the box and analyze how people would react to your idea. Ask yourself why and how would people respond to your ideas for an invention. Next, you must research safety issues for your idea. After this, you can move on to problem-solving.


Edison's idea for invention

One of the most famous inventions of Thomas Edison's lifetime was the telephone. Although Bell patented the telephone, Edison improved it. A weak electrical current restricted the distance between two phones. To overcome this problem, Edison devised a battery-powered device that supplied current to the telephone line and used carbon, or lampblack, as the transmitter. The result was a better sound quality and clearer transmission than the original model, and it remains the foundation for modern telephones.

Thomas Edison kept notebooks containing his observations and ideas. He would also refer to failed patents and other ideas. He believed that an idea was only original if it was adapted to suit his particular circumstances. In addition to keeping notebooks of his ideas, he also used the ideas of others in other fields. One of his assistants was an electrical engineer. Together, they would come up with an idea for an electric lighting source in ideas for an invention.

Thomas Edison's inventions were revolutionary in their time. He created the light bulb, the phonograph, and the radio. His phonograph was an improvement on Elisha Gray's telephone. However, Edison failed to recognize the demand for low-quality audio recordings and lost market share to Victrola makers. But despite his failures, Edison's idea for inventions remained an inspiration for centuries to come.


Creating a prototype of your idea

Creating a prototype is an effective way to test your idea and bring it to life. A prototype can be as simple or complex as you want, and a simple hand-made prototype is fine when you're just getting started. With advances in technology, however, it's possible to create highly sophisticated prototypes in a much shorter amount of time. Prototypes can also be used to test new products before they're commercialized, or to evaluate the performance of different materials.

Before you proceed to manufacturing your product, you'll need to develop a prototype. Prototypes are essentially working models of your final design. You can make one yourself or hire a prototype maker to make the product. Before you decide on a prototype maker, however, it's important to obtain a minimum of three quotes. If you need help creating a prototype, you can also visit the U.S. Patent and Trademark Office to get the information you need to proceed.

Creating a prototype of your idea for product development involves balancing the needs of the end user and the costs involved. In many cases, the best products are the ones that are inexpensive yet functional. A good example of this is the click wheel on the iPod, which makes the iPod easier to use but is not a necessary part of the product. While a good design may not be necessary to the product's performance, it can make the product more appealing to consumers. This requires good prototyping, which includes a careful consideration of the materials used.

 

rich_text    
Drag to rearrange sections
Image/file upload
what-sets-us-apart-2-om4tcayukmzpoljr2r2dd18aofz3xf1fhnu9jmwcco.jpg
attachment 839826  
Drag to rearrange sections
Rich text content

Finding potential licensees for your invention

There are several ways to find potential licensees for your invention. One way is by attending trade shows and publications for innovators. Another method is to post your invention on patent websites or use trade show ads. The USPTO produces "The Official Gazette" that includes advertisements for products that are licensed. Ad space costs $25. You can also contact the United Inventors.

If you are serious about getting your invention licensed, it is important to do your homework. Research companies online and learn as much as you can about their product lines, management, and locations. Find out which stores they sell to and which geographic areas they distribute in. Then, contact the company. Follow up with a phone call and request a meeting. This meeting is often a very fruitful one. You can even use a website to get in touch with a prospective licensee, if you have any questions.

Licensing a product is not a simple process. You need to find the right people who will review your invention and make the necessary business decisions. After all, your idea should be marketable. Then, you have to persuade them that their product would generate profits. Most inventors struggle in this process and only ten to fifteen percent of them find success. It is important to understand the licensing process and how to proceed accordingly.

rich_text    
Drag to rearrange sections
Rich text content
rich_text    

Page comments