Inventors Tips

Take a moment to read the following tips to help you through the process of inventing, patenting, licensing or selling your invention.

1. Although the patent examiner will perform an extensive patent search when you file your patent with the USPTO, I would suggest performing a patent search to see if a patent has already issued that would effect the patentability of your invention. There are three websites were you can perform a free patent search www.uspto.gov , www.FreePatentsOnline and www.patents.com.

2. Take your time and be as thorough as possible when designing your invention or someone else will. Hopefully you are one of the 3% that is successful. You obtain a patent, get your product to market and your product is a success. This doesn't guarantee that someone else won't come along and design a better way of accomplishing what you did and acquire a patent that performs the same function.

3. Document each step in the development of your invention, have it witnessed and or notarized. Most banks have a notary. I would also recommend adding to your documentation any trademark names that you would like to associate with your invention. You can search the availability of trademark names at www.uspto.gov.

4. Build and test a prototype. This will help you to perfect your design and it will also be a good indicator of whether or not you should continue to pursue your invention. Depending on the invention you can often build the prototype yourself or with the help of friends. If necessary their are companies that can build a prototype for you. Look in the yellow pages and on the Internet for a prototype company in your area. It is not absolutely necessary, but you may end up with a better prototype if you are able to sit down with the prototype company to explain you invention and explain to them what you would like to achieve.

5. Locate a patent attorney that is willing to take the time to explain the entire process and answer all of your questions. The majority of patent attorneys will give you a free consultation. Ask him or her what the difference is between a utility patent, design patent, provisional patent and non-provisional patent. Ask which is most applicable to your invention and situation. Also ask your patent attorney to explain what you should know about foreign patents. The average utility patent currently costs $10,000.00. You must accept some of the responsibility to insure that the quality of your patent application is the best that it can be. No one knows your invention, its advantages and uses better than you. Generally speaking your patent is only as good as the information that you communicate to your patent attorney.

6. Consider licensing or selling your invention to a company that can incorporate it into an existing product line. It's difficult if not impossible to market a single SKU product, especially one that is unproven, even if you, your friends and the people that you have shown it to think it is the greatest thing since sliced bread. It's more difficult today than in the past for a new vendor (you) to do business with major retailers. Major retailers do not want to go through the work involved in setting up a new vendor in their system, especially for a single SKU product company, both of which do not have a proven track record. You can research potential companies to license your invention/patent by visiting retail stores and performing research on the Internet. Royalty agreements typical range from 3 to 5%, but can go as high as 8 to10% or higher if they really like your invention. The royalty agreement percentage is typically based on the wholesale price, which is the price that the retailer pays the manufacturer for the product.

7. It's very likely that your patent will initially be rejected due to some form of prior art. In addition to responding to the examiners arguments, it can be helpful to write an additional claim or claims. It can increase your chance of securing more claims and your patent.

8. If you feel you have the background and experience to form a company or partnership and then pursue acquiring the funds to manufacture and market your invention, you will need to perform extensive research regarding your invention and the market that it addresses. You will also need to write a comprehensive Business Plan, Power Point Presentation and be prepared to pitch your offer to potential investors. Below are some website links to assist inventors and to help bring inventors and investors together.