Hobbyist and seamstress Diane developed a unique invention called Seams Sew Fast. Through the help of a marketing and product development company, her product has been sold in a large number of stores throughout the country. Making Diane’s dream become a reality and now she is enjoying an exciting life as a successful inventor. Listed below are the 10 steps that she combined with the product development company to take her sewing hobby craft product to market.
#1 – Signing of a confidentiality / Non-disclosure agreement
Should your invention is not patent pending or has not received a patent it is usually a smart idea to have a confidentiality / Non-disclosure agreement. Choose how many details you can make public or divulge using the New Inventions that you choose to work with.
#2 – Send your product or service concept to the product development and marketing company
You ought to pick the right product development company for the invention idea. Create the choice from the connections they may have with big manufacturing companies or big box retail shops. Foe example, in case your idea is really a household item, then select a company which includes experience developing and promoting household products. You wouldn’t wish to select a company that does not have expertise in the related market of the invention.
#3 – Overview of product, advising of possible changes
Listen to the product development company’s advice, to make recommended changes. What you need to listen for are changes and suggestions that will assist you to place your invention in a retailers existing brand family. As an example, the product development company may suggest changing or adding a characteristic that would complement a current brand’s look and design.
#4 – Review of production and marketing possibilities
This maybe where you’ll have to rely on the product development companies advice the most, that is should you don’t already know the marketing possibilities. The marketing possibilities include who the consumer, or end user lives. Also, just how much the client is prepared to pay and where the customer shops.
#5 – Investigate intellectual property protections
It is recommended to conduct market research before obtaining provisional patents or full blown patents. Patents can be extremely expensive and time intensive, make sure you know what I Have An Idea For An Invention is going to be and who will purchase your invention before applying for a patent.
#6 – Fabrication of mock-up sample
Develop a model or prototype in the invention. A working prototype of your invention is the easiest method to work out any problems or functions from the idea. Most problems will surface while creating the prototype and save a lot of cash before the invention goes into full manufacturing production.
#7 – Showing of merchandise to key account buyers
Chose and meet with possible buyers, including manufacturing companies and large box retailers. Show off of the invention personally as far as possible.
#8 – Gauge overall interest in product invention
Depending in the feedback and willingness to get from your account buyers chose the appropriate manufacturing capacity. If the account buyers only want to consider using a small test purchase first, it may be required to start manufacturing small xqvfcq investing in expensive setup fees.
#9 – Decline / proceed with production, or negotiate royalty payments
After gauging the overall interest in the invention come to a decision to manufacture the How To Patent An Idea With Inventhelp yourself or license the invention to some retailer or manufacturing company. If you wish to manufacture the invention yourself you may need start-up capital or investment funding. In the event you decide that the beginning-up costs are excessive consider licensing the invention and negotiating royalty payments.
#10 – Product launch
Your invention was created, manufactured, packaged, and ready on the market.