Invention Information
Guide Whether marketing an invention yourself or through licensing, this invention information guide 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.
WORDS OF WISDOM"Bringing a new invention to market is a full-contact sport" - James L. Fergason Inventor of Liquid Crystal Display commonly known as LCD
RULESThe 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.
TOOLS1. Patent Search.2. Inventor Log. 3. Non-Disclosure Agreement. 4. Business Plan. 5. Prototype. 6. Investor(s). 7. Patent Lawyer. 8. Patent.
The effective use of this guide is to predict how the rules may affect your idea and how your tools can be applied to build a path to success.
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