Have a great idea? Want help taking your idea to the next level? Is selling your idea the right move? Idea Design Studio is here for that exact purpose!
If making money from an invention is the goal, there are two ways this can be done. One is through licensing and the other through marketing and manufacturing. Choosing to keep the rights to the invention is the other option, where the inventor manufactures or markets the product themselves. Personality plays a role in which way the inventor should proceed. With a strong drive and entrepreneurial spirit, the inventor could be successful on their own. Otherwise, it may be best to allow others to market the idea.
If the option to sell the invention is the best, there are some tricks to doing so. First, be sure to protect the ideas as your own. If while conducting a patent search, there is nothing found, consider applying for a provisional patent, which will put a “patent pending” status on the idea for 12 months. Second, design a prototype and patent drawings. Idea Design Studio can help with design illustrations. The quality of the prototype will directly affect its selling potential. The last step is to crunch some numbers to decide if the market has potential for this idea. Compare production costs and sale costs and make sure that there is a demand for the product.
Inventing and selling an invention are two completely different ball games. There are some huge benefits in licensing an idea to a company who specializes in invention development. Licensing is also great for inventors who may be financially challenged. A few key things in this licensing process are research, presentation, and target audiences. As in all business deals, research is the most important. Research of the market, production, and legal consequences is a great start.
The key to any productive business pitch is presentation. Idea Design Studio is key in this step by helping to design a key 2-D or 3-D prototype or animation to get your point across. Market research should also lead to a target audience of companies willing and able to license your idea. Selling your idea successfully is a great feeling, and gives you the time to have and develop another idea!
Idea Design Studio is a design firm that specializes in new product development. Jeff Weissand Marvin Powell lll, the company’s managing directors, have worked in various areas of new product development since 2001. Jeff helped launch three successful industry-related companies since 2000, while Marvin got into the industry in 2002. Since 2006, Idea Design Studio has helped inventors handle such issues as product design, product development, patenting, marketing, licensing, and manufacturing. Communications with Idea Design Studio are 100 percent confidential. To learn more, call Idea Design Studio toll-free at 888-864-1780 or visit them online at www.ideadesignstudio.com.
Media Contact: Idea Design Studio, Idea Design Studio, 888-864-1780,[email protected]