Author: admin
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The Inventor’s Business Plan
Inventors frequently swing to two extremes when it comes to their business plan. The first one is simply: have idea – get patent – make money. I can’t even tell you how many ways this is a flawed plan. This plan is relevant only in fantasy land and real inventors can’t afford to live in…
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The Importance of Focus Groups
Inventors often ask me about their chances of success. Well it’s hard for me to give an absolute answer. There are lots of products on the market that I don’t buy. There are lots of products on the market that I think are really stupid. However, somebody is buying them. That’s where the importance of…
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Tradeshows
Inventors struggle with marketing for lots of reasons. It’s expensive, difficult to understand and hard to measure. Attending a tradeshow is the fastest and least expensive way to gather the critical information that you need to successfully get your product to market. When you are looking for the right tradeshow, it should be a professional…
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How Important is a Trademark?
Your trademark can be as valuable to you as a patent and possibly more. Consumers identify with your trademark, not your patent. Most consumers don’t care if you have a patent as long as you have a great product. When was the last time you went into a store and looked for a patent number? …
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Too Soon To Manufacture?
A few weeks ago an inventor told me that he was checking into the cost of manufacturing before having his patent search reviewed. This was a bit out of order but not a huge issue. You want to understand the costs involved before jumping off the cliff. However, I found out later that the inventor…
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Do You Need An International Patent Search?
Inventors frequently tell me that they were advised by one source or another that an international patent search is not necessary if they don’t plan to sell outside of the US. I would like all inventors to understand that an international search is a critical part of all GOOD Patent Searches. If something has been…
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Inventor Paranoia
Inventors are frequently afraid someone will steal their idea. Some paranoia is good. Too much is crippling. You have to find a balance between protecting your idea and being able to get your idea incorporated into a tangible product that you can get to the marketplace. Here are some guidelines: 1. You can talk in…
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The Greatest Challenge
The greatest challenge for an inventor is money. You have to have money to invent. No one invests in an idea. You have to have intellectual property protection and a working prototype or a very detailed 3D-CAD drawing. Unless you are working for a company and invent under its name, you have to be able…
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Fatal Mistakes
The most tragic part of inventing is when an inventor with a reasonably good idea makes a serious or fatal error. I see it happen all too often. For instance, getting a patent before you know if your invention can be made at a price someone will pay just means you’ll end up with very…
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Can You Sell It?
One of the most critical steps in the inventing process is establishing market viability. Sometimes people think they have a great idea, but the consumer doesn’t agree. And, after all, if no one will pay for it, why bother, unless, of course, you have lots of money to burn. Establishing market viability includes obtaining favorable…