& Make a Plan
Steps of the Process:
Step 1 -
- Process Overview
Step 2 -
Step 3 -
- Info & Planning
Step 4 -
Step 5 -
Step 6 -
When to Patent
Your Big Idea
Advise for Startups
More Articles ....
Step 3 - Gathering Information & Planning:
To enhance the Requirements List of Step 2, some specific outside
information is needed. Typically, a patent search and some market research are appropriate. You may
have no intention of patenting a new widget, but you really need to know if someone else already has.
There are a lot of patents for great products the inventor didn't ever take to market.
I believe many abandoned patents come from not understanding the development process -- which is part of the stimuli in writing this article.
Patent Searches can be done in a few different ways. You can do it yourself -- at the library or
on-line. www.uspto.gov and
are a pretty good on-line sources. Or you can hire someone to do the search for you.
Note: I strongly suggest avoiding "Invention Centers" -- as most are in business to exploit inventors
and their wallets. See comments below.
Perhaps the best source for patent searches and advise -- though they can be expensive -- are patent attorneys. They won't develop your
invention, but they can do a thorough search and can give better advice on patentability and infringement.
After all, a patent is only as good as it can be defended.
Protecting Your Idea: The Hewlett Packard web site had a great article on
Patents: Protecting your big idea that can shed some good light
on the types and processes for protecting intellectual property.
Read about When to Patent. Don't rush off to get a patent first thing as that is usually a waste of money.
Make the business plan around a patent you might expect, then develop the product so when you do patent it, the patent will cover all of the latest product enhancements.
Also, many patent attorneys have information available to the public ... like the "Frequently Asked Questions about Patent Law" from Gould & Whitley at
http://www.gouldwhitley.com/ > Patent Law. This one also tell about prices.
|A Note About "Invention Centers"|
||You've seen them. They come by many names. They often advertise on TV or in the mail. If you submit a patent application you're almost certain to get a letter from
one or many saying how wonderful your idea is, and how they can make you rich.
Oh, the horror stories I've heard! Stories about being ripped-off, and tales of rose pedal paths. Inventors, beware!
The appeal is very real desire to be successful with the invention. And most inventors need for a guide in the process -- for knowledge and information --
because the path to success is not well marked. The trouble comes when an "invention center" wants to be paid in advance, or when they want control . . . for whatever.
Remember: The path is not well marked, because it is different for each idea.
Before trying one of these:
There are plenty of people out there ready to take your money and your ideas.
- Ask lots of questions.
- Challenge promises.
- Insist on being integrally involved in decisions.
- Question their ability to market the product.
- Be willing to back-off if you feel uncomfortable.
- Don't give them control of your invention unless THEY pay for it.
Be cautious. Look carefully at the source. Be careful with what you are willing to give them. The more they promise (especially without a careful
evaluation of your idea) the more cautious you should be.
Marketing. Being successful requires marketing -- which usually needs to be very specific -- and it takes someone who knows that niche.
Most "invention centers" have someone that generically does marketing, but usually DOES NOT have in-depth experience in more than a couple specific market areas.
For instance, a "sports gadget" isn't really a sports gadget.
It might be an Elementary School gym gadget, or an outdoorsman's gadget, or a team sports gadget, or a personal training gadget. Every one of those areas require a different marketing approach.
Note: Don't get the wrong idea . . . there are good places for help, but most of the good ones won't "do it all",
and they won't make a lot of promises. Most of all, they won't promise how much you will make, or how many you will sell.
Market Research -- Depending on the scope of the project, market research is usually desired. This should
include things like competitive analysis, market availability, costs of getting product to the consumer, etc..
It should also include justification (in hard numbers) as to why your product will be able to penetrate the market, and how fast.
Since I am not an expert here, I'll leave this topic to others.
>>> Open invitation: Submit an article about Market Research, and if I approve it, I'll add the article here and a link to your site. <<<
|Gathering Outside Information (our Speaker Example):
||For the speakers, a quick Patent Search was done just to be sure of no infringement, but patenting was
determined as unnecessary because the goal was to build a great set of speakers, not to displace Bose or Onkyo.
The Market Research was really done before the project began. The motivation for designing such
speakers was the lack of availability in the market. In this case, the market research came early and defined many
of the requirements. Things like size, power, impedance, drivers, etc. were all defined. Additionally, the
goal was not to sell millions, just to make a good speaker without the high cost.
Further, the design was to be built by a do-it-yourselfer with reasonable skill in the shop.
The simple market research said there were people that wanted such a product. But, it should be noted that the speaker plans are one of our lower selling products.
Market research did not predict that most do-it-yourselfers won't spend a penny on something they think is easy --
and most have taken apart speakers so they think it is easy enough to build a box and put drivers in it.
Whether it is or not is immaterial. Better market research would have shown the speaker plans -- regardless of how good they are -- won't sell well because they have a price higher than $0.
Business Plan -- The summation of gathering information combined with the product specification and a healthy dose of common sense will help in
writing a Business Plan. The plan (with real numbers - don't cheat here or you'll be cheating yourself) must justify continued effort and money spent on the project.
Sadly, when this step is skipped (or over optimistically completed), time and money are usually wasted. It's OK to determine that the product can't make money,
and it's much better to do it now than later. Take some time and develop the business plan. Get some help if you need it -- I did. It's important, and it's eye-opening.
>>> Open invitation: Submit an article about How to Write a Business Plan (detailed), and if I approve it, I'll add the article here and a link to your site. <<<
Concluding Thoughts ...
Make sound, realistic plans based on good information. Great things that come from taking a hard look at the above items are:
The more you know, the easier it is to succeed . . . for knowledge empowers success.
- First - A revised and improved product specification (Step 2).
- Second - The start of intellectual property protection for your idea -- and knowing you are not treading on someone else.
- Third - A sound business plan as a road map for success.
- Fourth - A good foundation for explaining why your product will succeed --
if just for peace of mind to have something concrete to support your feelings, but also as a great foundation for getting investment money if you need it.
Continue to Step 4 - The Design Phase.