This invention information will assist in understanding the business of intellectual properties.
There are tools that are used and rules that are followed that influence the success of any invention.
An inventor uses these tools to ensure that the rules are favorable to their invention.
The world has an insatiable appetite for anything new that solves a problem, provides benefits that are in demand, and is easy to use and relatively affordable. Wherever you shop, you will see that there are always new products to buy.
An invention must make a profit.
An invention is resisted by potential licensees, or distributors, to the degree that it is less profitable than the products they are already selling.
Licensees, or distributors, are more comfortable if they know a new invention is not infringing on a patent.
Licensees, distributors, or investors, want to make money - not lose money.
Patent attorneys make their money from billing hours for work done on patents and/or litigating patents.
These are the basic rules or criteria that are required to make money with an invention.
Below are the tools we use to satisfy the criteria (rules) so we have a better chance of making money.
1. Patent Search.
2. Inventor Log.
3. Non-Disclosure Agreement.
4. Business Plan.
7. Patent Lawyer.
You can research invention information by also doing an online patent search. Please use the search function on our website, or subscribe to our updates, for more tips and advice.
Search Inventor Strategies Website.