Know Everything About How to Sell your Invention Idea


Know Everything About How to Sell your Invention Idea


A patent from the United States Patent and Trademark Office (USPTO) provides legal security to creators. Once an idea or invention is patented, no individual can utilize that invention without the patent holder's approval. Due to this, many organizations will not obtain the rights to an idea or invention unless they recognize it is patent protected and no one else can trade the identical invention.

Methods to Sell Your Invention Idea

There are two ways through which the inventor can sell their invention idea. They are explained as below:

Assignment: The assignment word is by USPTO (United States Patent and Trademark Office) for selling for the reason to assign the ownership rights of the patent to another individual.

Licensing: It is important to license the capabilities to do certain things including the goods, such as manufacturing or distributing. Licensing has not deemed a full sale because the ownership rights of the patent do not differ.

Steps to Sell Your Invention Idea


Acquiring a patent can be very costly and time-consuming, but there are steps that you can sell your invention idea without a patent. The steps are as follows:


Step 1:Ask for a provisional patent form the United States Patent and Trademark Office (USPTO). This is a more simplistic and more affordable process than taking a full patent. However, it provides the same legal security for a confined period. The provisional patent lasts for 12 months, later which you must appeal for a non-provisional patent or a conversion to a non-provisional patent. A provisional patent shields the invention idea for up to 12 months.

Step 2:Keep an inventor's logbook. It is a comprehensive diary that maintains and records all the steps that are required to take in developing and sell your invention idea. It should include the date with the respective entry you do. It helps show that you generated the idea yourself. Consequently, if someone else files a patent for a similar idea, then the logbook will act as a shred of evidence which will show that you were the primary person that invented the product.

Step 3:Aim companies in your domain that do not sell alike product and address them about licensing. Seek companies that are in a growth stage. It is recommended that inventors should make one or two-page data sheet that describes their ideas and marketability. They can also communicate with the marketing managers in their target companies and pitching the idea to them.

Step 4:Adopt an intermediary firm. Intermediaries usually have satisfying inside knowledge and connections and they help in getting the invention in front of the precise people more easily than done by oneself.

Step 5:Develop a network with other inventors for meetings and communication. There are several inventors groups as well as national groups in different states.

Step 6:Visit state and national invention committees. These shows bring collectively inventors and corporations regarding products to invest in and improve. Licensing intermediaries also visit these conventions and some participating organizations will not suspect the creator to have a patent in place previously.
Location: Miami, FL, USA

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