If you have a great invention idea, you may be wondering how to sell it. It can be done in two ways. You can either develop and sell your own product or you can license it out to a large company and earn a bit of cash in the process. A little research into the market for your new product can give you some insight into its viability.
The internet is an excellent source of information. Do a quick search and you will see there are numerous products and services out there that will help you turn your ideas into a reality. Some of them include kits and books that can help you create a mockup for your invention.
For example, there are companies such as Fastcap, WillowWood and Play with a Purpose, all of which will develop your ideas into a working product. They also offer a host of services, including woodwork, cabinetry, and video recording equipment.
If you have a nifty invention idea, you can take it to the next level by filing a patent. While the process may sound complicated, it isn’t. Using a patent attorney can make it much easier. In addition to ensuring you have the right type of patent for your idea, you can also get advice on legal issues pertaining to your invention.
There are also many companies out there who will submit your idea to a plethora of potential buyers. Using a service like InventHelp can save you a lot of time and hassle. These organizations have an extensive database of thousands of businesses that will accept your submission. Plus, they will prepare descriptive materials and send your idea to the right people.
To find a company that will consider your invention, you can start by researching the competition in your industry. For instance, if you have a new idea for a computer game, check out some of the major players. Many of them have a section on their website for submitting ideas.
Identifying the best one for you isn’t an easy task. You can either use a service like InventHelp, or you can conduct a thorough internet search. This InventHelp will allow you to find the most appropriate company to handle your invention, and will ensure that you make the most of your time.
Another good idea is to do some free market research. The market for your invention is likely to be quite competitive. As a result, you will want to do some homework in order to determine the right price for your invention. Having a good understanding of the market’s needs will make it much easier for you to get your product manufactured or sold.
Finally, if you aren’t sure if your idea is a good fit for a company, you can always contact them to find out more. Not all companies are interested in a small scale idea, and you should also be aware that some companies will not pay you for all of your ideas. That is why it pays to be clear on the details of any contract you sign.