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I have an awesome invention, but no money and no clue how to make my next move...

 
Inventor Without a Clue
User ID: 1433496
United States
07/01/2011 03:28 PM
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I have an awesome invention, but no money and no clue how to make my next move...
What should I do?

I have always had good ideas, but right now I have an excellent invention that I KNOW will make good money. I have shown my family the idea, made a working prototype, but now I have no idea how to proceed.

The main problem is that both my wife and I are out of work and have no money to get a patent search, etc. Does anyone here know what I should do next? Any help is much appreciated, thanks!
Anonymous Coward
User ID: 1305118
United States
07/01/2011 03:32 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
What should I do?

I have always had good ideas, but right now I have an excellent invention that I KNOW will make good money. I have shown my family the idea, made a working prototype, but now I have no idea how to proceed.

The main problem is that both my wife and I are out of work and have no money to get a patent search, etc. Does anyone here know what I should do next? Any help is much appreciated, thanks!
 Quoting: Inventor Without a Clue 1433496


Look online for angel investors...or try a college that has a inventors class that can help you or one of the invention shows on tv now. Shark Tank is one on ABC I believe. Best of luck to you!
Anonymous Coward
User ID: 1437592
United States
07/01/2011 03:34 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
drop your plans off at a nice home and walk away.
Anonymous Coward
User ID: 1451016
Greece
07/01/2011 03:35 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
What should I do?

I have always had good ideas, but right now I have an excellent invention that I KNOW will make good money. I have shown my family the idea, made a working prototype, but now I have no idea how to proceed.

The main problem is that both my wife and I are out of work and have no money to get a patent search, etc. Does anyone here know what I should do next? Any help is much appreciated, thanks!
 Quoting: Inventor Without a Clue 1433496


You should hire a lawyer and proceed with the patents
Borrow money or promise the lawyer a good percentage of the royalties or whatever you are getting at the end
Anonymous Coward (OP)
User ID: 1433496
United States
07/01/2011 03:37 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
What should I do?

I have always had good ideas, but right now I have an excellent invention that I KNOW will make good money. I have shown my family the idea, made a working prototype, but now I have no idea how to proceed.

The main problem is that both my wife and I are out of work and have no money to get a patent search, etc. Does anyone here know what I should do next? Any help is much appreciated, thanks!
 Quoting: Inventor Without a Clue 1433496


Look online for angel investors...or try a college that has a inventors class that can help you or one of the invention shows on tv now. Shark Tank is one on ABC I believe. Best of luck to you!
 Quoting: Anonymous Coward 1305118


Thanks for the advice! I didn't know about the existence of an "inventor's class" - I need to look that up. I live in Jacksonville, FL so maybe if anyone knows one around here they can let me know. Also, I will look up angel investors in a minute.
Inigo Montoya

User ID: 1390471
United States
07/01/2011 03:38 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
tell me what it is in detail, then i'll give you free advice.



norespect
Anonymous Coward
User ID: 1446868
United Kingdom
07/01/2011 03:38 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
Find the biggest, richest manufacturer in the same business, sell your soul and just get them to make it and give you a royalty for each sale.

If this pays off, I have a standard consultation fee of $5,000,000.

R)
Anonymous Coward
User ID: 1342586
United States
07/01/2011 03:38 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
sure it's an invention?
or just an upgrade?
Anonymous Coward (OP)
User ID: 1433496
United States
07/01/2011 03:38 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
What should I do?

I have always had good ideas, but right now I have an excellent invention that I KNOW will make good money. I have shown my family the idea, made a working prototype, but now I have no idea how to proceed.

The main problem is that both my wife and I are out of work and have no money to get a patent search, etc. Does anyone here know what I should do next? Any help is much appreciated, thanks!
 Quoting: Inventor Without a Clue 1433496


You should hire a lawyer and proceed with the patents
Borrow money or promise the lawyer a good percentage of the royalties or whatever you are getting at the end
 Quoting: Anonymous Coward 1451016


There are lawyers that do that? I didn't know that, cool. Thanks!
Anonymous Coward (OP)
User ID: 1433496
United States
07/01/2011 03:39 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
sure it's an invention?
or just an upgrade?
 Quoting: Anonymous Coward 1342586


Full-out invention based on a current product, but nothing else like it.
Anonymous Coward
User ID: 1449961
Argentina
07/01/2011 03:41 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
Don't even think about a patent, it is 'their'('my' enemies) way of taking all of your money and all of your ideas. If it is to do with ecology then the communities that are still around after 26th september comet explosion could do with the knowledge. Inventions are not made by the people, the ideas are from 'me' for the use of mankind without payment. So if you believe in 'me' then expose 'your' ideas to everyone. Open your eyes and ears and look for 'my' signals to you, listen to your favorite songs and they will tell you what to do.
Believe in 'me' as 'I' do in you.
Bless you
Anonymous Coward
User ID: 1188144
United States
07/01/2011 03:42 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
OP what if you put out the money to get a patent, and then China starts mass producing it? Gonna fly to China and stop them?
Anonymous Coward
User ID: 1449961
Argentina
07/01/2011 03:42 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
In three months property will have no value and in six months, money will have no value.
Bless you
Anonymous Coward
User ID: 1451016
Greece
07/01/2011 03:43 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
What should I do?

I have always had good ideas, but right now I have an excellent invention that I KNOW will make good money. I have shown my family the idea, made a working prototype, but now I have no idea how to proceed.

The main problem is that both my wife and I are out of work and have no money to get a patent search, etc. Does anyone here know what I should do next? Any help is much appreciated, thanks!
 Quoting: Inventor Without a Clue 1433496


You should hire a lawyer and proceed with the patents
Borrow money or promise the lawyer a good percentage of the royalties or whatever you are getting at the end
 Quoting: Anonymous Coward 1451016


There are lawyers that do that? I didn't know that, cool. Thanks!
 Quoting: Anonymous Coward 1433496


Lawyers specialized in Intellectual property issues
First he will check if anyone on this planet has a patent confirmed or pending or similar invention
This takes months
Anonymous Coward (OP)
User ID: 1433496
United States
07/01/2011 03:45 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
What should I do?

I have always had good ideas, but right now I have an excellent invention that I KNOW will make good money. I have shown my family the idea, made a working prototype, but now I have no idea how to proceed.

The main problem is that both my wife and I are out of work and have no money to get a patent search, etc. Does anyone here know what I should do next? Any help is much appreciated, thanks!
 Quoting: Inventor Without a Clue 1433496


You should hire a lawyer and proceed with the patents
Borrow money or promise the lawyer a good percentage of the royalties or whatever you are getting at the end
 Quoting: Anonymous Coward 1451016


There are lawyers that do that? I didn't know that, cool. Thanks!
 Quoting: Anonymous Coward 1433496


Lawyers specialized in Intellectual property issues
First he will check if anyone on this planet has a patent confirmed or pending or similar invention
This takes months
 Quoting: Anonymous Coward 1451016


In the meantime, I can still sell it under "Patent Pending" though, right? I mean if I get someone to buy my idea...
GeekOfTheWeek

User ID: 1383040
United States
07/01/2011 03:46 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
Look, here's how it really works.
You MUST have a patent. But this ONLY protects you from letting other get away with stealing the idea... in court.

Next you have to push the idea onto companies that can produce it and market it.

Depending on what it is, who you take your patented invention to of course. Most will want to control it, and pay you for licensing, and selling the invention. They will want at least 51 percent share in the patent/proceeds. THAT is a VERY good deal, but usually they will want more since they have to do all the work. Realistically you can expect only getting 30 percent of the take from sales. Maybe less, depending on valuable the thing is...

It's a lot to think about, but it's also a good deal this way.
Unless it's small, needed badly, it's best to do the above. If it's small enough, and you don't expect sales to exceed your ability to produce and package it, you should do it your self and hire a marketing group. :-) You get more of the sales proceeds this way, but all the work.!!.

Cheers!
I love physics. It bonds us eternally, it's what makes our computers work, it's what's in my morning cup of coffee, it's the thing that keeps the universe from vanishing due to lack of belief...
Anonymous Coward
User ID: 1436513
United States
07/01/2011 03:47 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
email me @wdatrip@aol.com.

I will sign a non-disclosure agreement and we can talk. I help founders raise capital without giving up control.
Anonymous Coward
User ID: 1436513
United States
07/01/2011 03:50 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
What should I do?

I have always had good ideas, but right now I have an excellent invention that I KNOW will make good money. I have shown my family the idea, made a working prototype, but now I have no idea how to proceed.

The main problem is that both my wife and I are out of work and have no money to get a patent search, etc. Does anyone here know what I should do next? Any help is much appreciated, thanks!
 Quoting: Inventor Without a Clue 1433496


You should hire a lawyer and proceed with the patents
Borrow money or promise the lawyer a good percentage of the royalties or whatever you are getting at the end
 Quoting: Anonymous Coward 1451016


There are lawyers that do that? I didn't know that, cool. Thanks!
 Quoting: Anonymous Coward 1433496


Lawyers specialized in Intellectual property issues
First he will check if anyone on this planet has a patent confirmed or pending or similar invention
This takes months
 Quoting: Anonymous Coward 1451016
Anonymous Coward
User ID: 1436513
United States
07/01/2011 03:51 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
This takes months? It takes two hours max!
Anonymous Coward (OP)
User ID: 1433496
United States
07/01/2011 03:51 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
Look, here's how it really works.
You MUST have a patent. But this ONLY protects you from letting other get away with stealing the idea... in court.

Next you have to push the idea onto companies that can produce it and market it.

Depending on what it is, who you take your patented invention to of course. Most will want to control it, and pay you for licensing, and selling the invention. They will want at least 51 percent share in the patent/proceeds. THAT is a VERY good deal, but usually they will want more since they have to do all the work. Realistically you can expect only getting 30 percent of the take from sales. Maybe less, depending on valuable the thing is...

It's a lot to think about, but it's also a good deal this way.
Unless it's small, needed badly, it's best to do the above. If it's small enough, and you don't expect sales to exceed your ability to produce and package it, you should do it your self and hire a marketing group. :-) You get more of the sales proceeds this way, but all the work.!!.

Cheers!
 Quoting: GeekOfTheWeek


My idea would not cost very much to produce (just a little bit of plastic and metal), I'm guessing $1.50 or so per item if mass produced, but I have a VERY limited budget to do it - like less than $500 maybe. I hope I find something through some of the advice I've been given so far.
Atom-Boy

User ID: 1352447
Japan
07/01/2011 03:52 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
Start small and don't fear too much that someone is stealing it!

When you have enough Money to pay a Patent-Law Professor use him!

Than start to visit the big Companies, if you want it!
G.Y.!B.E.
Anonymous Coward
User ID: 1451016
Greece
07/01/2011 03:53 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
...


You should hire a lawyer and proceed with the patents
Borrow money or promise the lawyer a good percentage of the royalties or whatever you are getting at the end
 Quoting: Anonymous Coward 1451016


There are lawyers that do that? I didn't know that, cool. Thanks!
 Quoting: Anonymous Coward 1433496


Lawyers specialized in Intellectual property issues
First he will check if anyone on this planet has a patent confirmed or pending or similar invention
This takes months
 Quoting: Anonymous Coward 1451016


In the meantime, I can still sell it under "Patent Pending" though, right? I mean if I get someone to buy my idea...
 Quoting: Anonymous Coward 1433496


Patent pending means that you have applied for a patent and your local authorities , chamber of commerce or whatever are checking.
Consult a local lawyer or your chambers as the American legislation is terra incognita to me
Anonymous Coward
User ID: 1451016
Greece
07/01/2011 03:59 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
This takes months? It takes two hours max!
 Quoting: Anonymous Coward 1436513


Amazed
It takes 6 months or more here
WTHell
User ID: 1451088
United States
07/01/2011 04:04 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
I'm right there with you, buddy. Forget about lawyers for now. First thing you do is figure out if you need a Design Patent or a Utility Patent. You can file for a provisional patent yourself, and this gives you 365 days from filing date to file the real deal. You can do much of the research regarding your idea online and for free.

I've done a bunch of this work myself. I have a kick-ass gardening method to grow indoors which is proven and I'm a horticulturalist who got interested in how apartment dwellers could survive when tshif.

But, be warned. The info on the provisional patent is available for anyone who has the brains to seek it out online also. And if you don't file for a permanent patent, anyone or their dog can. The provisional is good because it protects your claim as first to file, but if you don't follow through, it's up for grabs.

Also, most great ideas don't make it to market solely because there's no profit in it. Maybe it costs too much to manufacture, or folks just won't part with their dollar for the product. Anyone who sells it must put on their huge mark up to pay for their shelf space.

Watch 'Shark Tank' and see how some of this works. Best of everything to you!
Anonymous Coward (OP)
User ID: 1433496
United States
07/01/2011 04:17 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
I'm right there with you, buddy. Forget about lawyers for now. First thing you do is figure out if you need a Design Patent or a Utility Patent. You can file for a provisional patent yourself, and this gives you 365 days from filing date to file the real deal. You can do much of the research regarding your idea online and for free.

I've done a bunch of this work myself. I have a kick-ass gardening method to grow indoors which is proven and I'm a horticulturalist who got interested in how apartment dwellers could survive when tshif.

But, be warned. The info on the provisional patent is available for anyone who has the brains to seek it out online also. And if you don't file for a permanent patent, anyone or their dog can. The provisional is good because it protects your claim as first to file, but if you don't follow through, it's up for grabs.

Also, most great ideas don't make it to market solely because there's no profit in it. Maybe it costs too much to manufacture, or folks just won't part with their dollar for the product. Anyone who sells it must put on their huge mark up to pay for their shelf space.

Watch 'Shark Tank' and see how some of this works. Best of everything to you!
 Quoting: WTHell 1451088


Thanks for the info!
Anonymous Coward
User ID: 1436513
United States
07/01/2011 04:21 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
If you understand the law of attraction this post should make you feel compeled to send me an email so we could talk. We raise capital for startups. I'll explain to you the process and you don't have to tell me what your idea is. It's up to you to explore all of your opportunities.

wdatrip@aol.com
Anonymous Coward
User ID: 1188144
United States
07/01/2011 04:36 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
Also if you get a patent, you have to have the money to hire lawyers to defend your patent in court against infringers. You don't just call the police to have someone stop manufacturing your patented idea. lol
Anonymous Coward
User ID: 1447102
United States
07/01/2011 04:39 PM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
Without revealing too much, what is it related to? auto , home, health, computer, business, energy?

What is it's function? money saving, labor saving, makes life better? And how?

Better advice can be given if you can narrow it down.

A friend of mine does focus groups for new/innovative retail items and markets them to manufacturers.

I have two of mine on the market right now because of her.

Neither of them make a fortune, as is with 98% of new items that actually make it. Many fail for one reason or another.
Sukhdev
User ID: 43827862
Canada
07/22/2013 12:02 AM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
Go onto dragondeal22.com and set up a free account to help you raise money.
AwesomeSince87

User ID: 41748429
United States
07/22/2013 12:08 AM

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Re: I have an awesome invention, but no money and no clue how to make my next move...
Www.kickstarter.com
Do not fall in love with people like me. I will take you to museums, and parks, and monuments and kiss you in every beautiful place, so that you can never go back to them without tasting me like blood in your mouth. I will destroy you in the most beautiful way possible. And when I leave you will finally understand why storms are named after people
Anonymous Coward
User ID: 56146261
United States
03/27/2014 11:21 AM
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Re: I have an awesome invention, but no money and no clue how to make my next move...
Before you do anything! Go to the Patent and Trademark Office website and fill out a preliminary patent. It cost you $10 and mailing cost. When you get your receipt, then you can move to the next level.

Now, a prelimiary patent only shows intent to patent and if another company steals it. Then you better have more money than they have. Its happened to me over and over. Anyone who tells you to hire an attorney. Surely has more money that money making ideas.

The second step is to contact accountants, in person. If you try to do this online, you will be a failure to start with. Kick start, Crowdfunding and others will make sure they get every mile and dollar out of you till you're broke.

The third thing is to take the accountants money and expertise, and set up a business entity. When you put your product up for sale. You lock anyone out from taking your idea but. They can redesign and reengineer it not to work. And will succeed becasue they have more advertising dollars.

This is where you need to find security agreements to cover your disclosure. After that. Be the salesman, the marketeer and get the job done quickly. You must make enough to pay for the patent, copyrights and trademarks within ONE YEAR. If you make any sales at all. this should give you an entrance to get funding, without extensive cost and you can cover the cost for legal issues.

If you need more help? Contact me and I will see if I can help you take it to the next level!

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