New Invention Assessment
Although several well-meaning firms may claim to provide assessments of new invention ideas, the reality is that no one can accurately predict how a particular product idea will fare in the marketplace. Unless performed by companies interested in marketing, manufacturing or distributing new invention ideas, these assessments are generally of little value, and you should be wary of any firm who offers to evaluate your inventions for a fee.
Learn From Your Invention Services Company
Take advantage of any classes for inventors offered by your invention services company. These classes can give you pointers on everything from concept development to marketing. Because it benefits them when you are a more successful inventor, some invention services companies will offer inventors help classes for free when you purchase another of their services. This can be a great deal for a new inventor.
Virtual Prototype Services
If you haven't yet constructed a working model of your invention, look into virtual prototypes. These ¡°digital prototypes" often consist of a computer-generated image on CD-ROM that shows your proposed invention in 3-D. Some virtual prototypes even allow you to rotate and manipulate the image for convenient viewing on all sides. A virtual prototype CD also might display things like the invention¡¯s features, advantages and market information.
Financial Assistance For New Inventions
Don't be discouraged if you're having trouble finding financial assistance for your new inventions. It will take extra work to find and get the funds that are available to help inventors, but it is possible. Look for grants and other government funding programs for new inventors. Many government agencies ¨C such as the National Science Foundation and the Department of Energy's Invention & Innovation Program ¨C provide free information about grants and funding opportunities for independent inventors.
Fees for Invention Services Companies
Find out about fees for invention services before you sign with an invention services company. Although there are some invention services companies that offer contracts based on profit percentages, these companies are highly specialized and do not accept many clients. A reputable invention services company will tell you exactly what they will charge for their work before the you enter into any agreement to work with them.
When to Consider an Invention Services Company
If you are an inventor who¡¯s not sure where to begin, working with an invention services company could be a good option.
Types of inventor services these companies may offer include patent referrals or submission for review by interested companies. Any inventor services firm you explore should provide you with an explanation of its invention services and fees right up front. An good invention services company will also be forthright about the chances for success.
Invention Patent Services
It could save you time and money to accept a referral to an independent attorney from your invention services provider. A reputable invention company can often refer you to an independent patent attorney or agent to perform patent services such as a U.S. patent search and opinion, as well as the preparation and prosecution of a U.S. patent application. In many cases, patent services obtained through a referral from an invention services company are less expensive that what you could have found on your own.
Advertise With the USPTO
For a small fee, the USPTO will list your patent as ready for licensing in their weekly gazette. This inexpensive inventor's help can be a part of your larger marketing strategy. Check with the USPTO for information about including your invention patent in the Official Gazette.
Be a Good Inventions Services Customer
Just because you've hired an invention services company to work with your new inventions doesn't mean that you can relax and let them take over. Use your inventions services company as a resource. Learn as much from them as you can about the invention marketing, invention licensing, or invention patent services that they are performing for you.
By being as involved as you can, you'll know whether or not your invention services company is doing what you hired them to do. You'll also learn more about the invention process that you can use for your next new inventions.
Invention Licensing Services
o help you wade through the invention licensing maze, consider working with an invention licensing company. These services can help you protect your rights and your trade secrets as you try to sell permissions to use your invention. Especially for new inventors who don't have much experience dealing with contracts and negotiations, working with an invention licensing company might make a lot of sense. If you work closely with your invention licensing agent, you may learn a lot that can help you when it comes time to attempt to license your next invention.
Guidelines for Working with an Inventor Services Company
Before signing with an inventor services firm you should question a company representative. Make sure you understand clearly the invention services the company will perform for you, as well as the amount of risk involved. Reputable inventor service providers offer the answers to these questions in a straightforward manner. Beware of investor services companies that make unrealistic promises about your success. Optimism is great, but you want to work with a company that knows the difficult realities of marketing new inventions.
Save Time and Money with Invention Services
Working with an invention services company can save you both time and money that you can use to develop your invention. Invention services companies are experts in providing a wide variety of services including basic researching, illustrating, production of business materials, development of a data base of companies for submissions, creation and disbursement of press releases and patent attorney services.
These services purchased individually by an inventor could cost much more than the fees of an invention service firm. In fact, many inventors could pay more for the services of a patent attorney alone than for those offered by an invention company.
Submission Help
The most experienced and reputable invention services firms maintain databases of companies who are willing to review new invention ideas in confidence. A good invention services provider will attempt to match your invention with several companies that have expressed a general interest in a similar field of products, via the use of government SIC codes.
Ask For References
Before you sign up for help from an invention services company, ask the company for references. Talk to these people about what they liked and didn't like about working with the company, what they would do differently next time and if they recommend working with the company. By talking to inventors who have worked with the invention services company, you'll be able to get a better idea of how the company works and whether it deliver the services that you are expecting.