Call Rick Martin, Patent Attorney
|©2008, Rick Martin|
|You can only make money with a new idea in two ways. The first way is to license the idea to a large company, sit back and receive royalties. Most new inventors believe this licensing approach works. It doesn’t. I’ve counseled over 1000 start-ups over a twenty year period, and never seen the simple licensing approach work. The only time this approach usually works (with very few exceptions) is when a high-tech inventor creates a scientific breakthrough, such as a solar battery for outer space, and a battery manufacturer such as Hughes Aircraft buys the technology from the scientist/inventor in order to create a new line of batteries for the space program. (True Story)
The ‘little guy’ has practically no chance selling corporate America on your new gadget. However, if you insist on trying, then go to www.inventorsdigest.com and buy an inventor’s notebook called the idea journal and have every page of your diary witnessed by a trusted person such as your accountant. Then hire a patent attorney to file a provisional patent application for under $2500.00. Then go to the library’s Thomas Register and make a list of every manufacturer you think could take on your product (Black and Decker for a new drill bit, etc.). Mail them a copy of your patent application or have your patent attorney do it. Follow-up with phone calls until you get get closure on whether they’ll meet with you or not. Good Luck!
Now to the reality of how my successful clients have done it.
Visit www.skycoaster.com to see how one inventor created the SkyCoaster™ ride.
Visit www.bisondesigns.com to see how a rock climber built an international distribution company based on new ideas for key chains and water bottles.
Visit www.shoulderdolly.com to see how a furniture mover invented a new shoulder harnes and used one to make millions..
Visit www.thermark.com to see how one inventor discovered a method to write on glass in color, using a laser.
Visit www.ez-campfire.com to see how a general contractor in his part-time launched several patented new products in the recreation industry.
Visit www.agromgt.com to see how soybean and canola vegetable oils may replace petroleum lubricants in your crankcase, create new cash crops and help clean up the world’s fresh water supplies.
Do you get the message? The above success stories are individual inventors who commercialized their inventions starting with their own funds. Some of them used outside investors to help get a start, and some eventually went public.
Here are the fundamental steps all of them had to accomplish:
Our firm helps point the way from finding a machine shop, to raising money, to getting a patent, to selling a patent license and suing companies infringing on your patent.
Sorry we do not handle bankruptcies or divorce. Keep a sense of humor and be thankful America provides a free market that can still let the ‘little guy’ build his idea into a successful company.