IDEA INTO A PRODUCT?

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Permalink Reply by SUp.biz, CEO on July 1, 2008 at 7:00pm

You ask about turning an idea into a “product”. I gather that you would most likely be pursuing a patent (as opposed to a copyright or trademark). Here are your basis steps for getting started:

1) Research Existing Patents

To determine if your product is already covered by a patent, search with http://www.google.com/patents or http://www.google.com/advanced_patent_search to see if there are any obviously similar products undergoing the patent process, and then move onto the United States Patent and Trademark Office’s website (http://www.uspto.gov/index.html).

2) Patent Your Product

If your potential product isn’t already covered by an existing patent, you may be able to patent it. Though some people file for a patent online (http://www.uspto.gov/web/patents/howtopat.htm), it is recommended to instead retain the services of a registered patent attorney or patent agent. Get recommendations for good patent attorneys and contact them for a free consultation. If you are prepared before your meeting, you should be able to leave your consultations with enough information to make an informed decision about whether hire an attorney and pursue a patent.

3) Make Money

There are several avenues for turning your idea into a product and then into a business.

Manufacturing. You could decide to create a prototype, manufacture and sell your product yourself. Check out http://beta.thomasnet.com/ to explore manufacturers.

Licencing. Instead of manufacturing and marketing the product yourself, you could let a third party handle these issues. Through licensing, you retain ownership, but allow a third party to use your idea/product for profit. In return, you receive a recurring license fee or royalty. You could enter into an “exclusive license” where you convey all licensing rights to one party. You could also enter into a “non-exclusive license” where you convey licensing rights to a third party but are still able to enter into licensing agreements for your same product with other parties. There are still other types of licenses that you would want to explore, like those broken down by geographic area, periods of time, and use of your idea for certain products.

Assignment. You could sell your rights to your idea by entering into a contract called an “assignment.” In this type of agreement, you, as the “assignor,” transfer your rights to your idea to an “assignee” who is then free to use it to profit. Here, you retain no rights to your idea and the money you make is from the one-time sale of your idea.

Good luck.

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Permalink Reply by Genius on July 2, 2008 at 2:02am

Hows long would a patent last, and does this only apply in the states or will I get sued if I was in another country and there is an existing patent in the states for this but i do not reside in the states ?

I ahve ideals but I have seen an american patent for this, not too similar but here and there the concepts are the same.

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Permalink Reply by SUp.biz, CEO on July 2, 2008 at 7:16pm

First, let's address your key questions:

Patent Basics:

Question: How long does a patent last?
Answer: Patents last for 20 years from the date the application was filed in the United States (not the date the patent was granted), except Design Patents which last for 14 years.

Question: Does a patent apply only in the U.S. or internationally?
Answer: Patents filed with the U.S. Patent & Trademark Office (http://www.uspto.gov) are only effective within the U.S., its territories and possessions. If you want patent protection internationally, you will need to file a patent in each country in which you want protection. The Patent Cooperation Treaty facilitates this process by providing a standardized filing process for 124+ member countries.

Question: Does it matter where I live?
Answer: No. Where you, as an individual, live does not determine the geographic reach of your patent. If you were granted a patent from the U.S. Patent & Trademark Office, your patent is valid in the U.S. even if you live overseas.

Next, let’s discuss the types of patents. A mere idea or an abstract idea cannot be patented. Instead, a patent is granted after the idea is turned into something more, like a machine or product.

Patent Types:

Utility Patents: Granted for an invention or discovery of a process (which primarily includes industrial or technical processes), machine, articles that are made or manufactured, a composition of matter (relating to chemical compositions) or any new and useful improvement thereof.

Software Patents: Granted on certain computer software.

Design Patents: Granted on designs for articles that are made or manufactured.

Plant Patents: Granted for an invention or discovery of a new plant. To obtain this patent, you must have asexually reproduced the new plant.

One more thought on your question: You mentioned that you have an idea that has similarities to an existing patent. A good patent attorney will be able to do a detailed analysis of your idea to see if it is still eligible to be patented.

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Permalink Reply by Robert Mesa on August 17, 2008 at 2:36am

Hi Melina,

I would highly recommend taking the advise of our resident StarLawyer for your legal protection.

In addition I would like to briefly touch on the creative process. The creative process starts with your idea. Next you need to put your idea to the test, so to speak. By a process known as "critical thinking". Test your product idea's validity from all angles. If you have family, friends or business associates, who you value their opinions, and trust sharing the idea with, exchange some thoughts with them. If you are going to take advatage of legally protecting your product. Next map out the project from idea to manufacturer, by putting it to paper. This would include costs, Break even Analysis, blue prints, all documentation, and research materials. If you can develop a prototype all the better. With this in hand then call our resident StarLawyer.

Good Luck,
Robert Mesa

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Permalink Reply by Jared O'Toole on August 18, 2008 at 3:56pm

Depending on your situation you may also want to look into getting a provisional patent. Its only for 1 year for it also is only about $100. It doesn't always provide as much protection as a regular patent so you should look into more if you consider it. Can be a good way to test the waters with your product before spending the full amount for a regular patent.

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