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Provided Courtesy of Paul Tulenko
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HERES HOW! |
Yes, you've heard their pitch: "Call our 800 number for a free evaluation of your invention and a packet protecting you, etc., etc." If you absolutely MUST call these people, lock your checkbook up and give the key to someone who will not release it until you regain your sanity!These come-ons are tempting, but their track record of success is miserable! You will spend hundreds and even thousands of dollars traveling down their yellow brick road only to find a tar pit at the end. Avoid these like the plague!
OBTAIN A LEGAL EVALUATION
Start your legal evaluation search by purchasing one of the many legal solutions software packages and use their non-disclosure outline to develop a document tailored to your unique needs. Take the statement to a local patent lawyer along with your preliminary evaluation, prototype drawings, and a simple business plan (another software package).Have the attorney sign your non-disclosure statement if you wish, but make sure it contains everything the package statement had. If you cannot get the document signed in advance, find another attorney. No matter what you are told about attorney-client privileges, protect yourself!
Next, ask the attorney for an evaluation based on their experience with patents. Expect to pay between $50 and $150 for this opinion. Call several patent attorneys in advance and ask their charge for this service. Based on what you hear and how much of it you believe, make a decision to either go forward or forget it. If you forget it, your expenses have been minimal, and you have probably saved yourself thousands of dollars you might have wasted on something that just couldn't happen.
PROTECTION
There is no such thing as complete protection for your idea, but you can make it expensive for firms that use your patented idea without compensation. A patent or copyright gives you the right to sue, nothing else! Your attorney can advise you on whether to send a notice to the Patent & Trademark Office or whether to get started on actually filing a Patent request. Either way, you will have some protection, but not much.
SEARCH FOR BUYERS
Your attorney can partially protect you from outright theft while allowing you to send information on your product or idea to prospective manufacturers, distributors or sales firms. What you want to do in this first letter is provide just enough information that the evaluating firm will want to sign a non-disclosure, non-compete statement so they can evaluate what you offer. This will allow you to send your information on to them without fear of it being copied or otherwise compromised.
THE SEARCH FOR MARKETS
Yes, there is someone out there that is interested in evaluating your product. The task is to find them. One of the best sources is the Thomas Register, a set of books found in most business libraries (now also a website, www.thomasregister.com.). These volumes detail every product, who sells it, and how to get in touch with the firm. Make a list of everyone who has either a competing product or a complementary product (one that could work with your invention). Send your letter to each of these. Don't be surprised if you get a lot of turndowns, many companies do not like to evaluate products, especially if they have a similar product already under development.
RE-EXAMINE YOUR OPPORTUNITIES
Now is the time to study everything from a business point of view. If you decide to go ahead, hire a business development consultant (don't forget the non-disclosure agreement) to evaluate your results. The consultant should be able to provide you with relatively concrete figures on all options for manufacturing, distribution, and sales.Pay close attention to the results of your study. They can help you decide whether to do the work yourself, license the product for someone else to manufacture and distribute, or to forget it. Either way, you win.