Invention or innovation is not the preserve of established businesses. Quite often it is the lone individual who suddenly has that Eureka moment and then has the germ of a great idea buzzing around in their head. The problem then is what to do with that idea and how to reach the ultimate goal of it being sold in its hundreds, thousands or millions and the royalty payments regularly appearing on your bank statement.
In the past I have been that lone individual as I have invented several products and realised the dream of seeing them on the shelves of some of the very large UK retailers like Halfords, B&Q and Screwfix.
Sometimes the journey to market can be relatively easy however this is not typical and quite often it can be very frustrating and time consuming.
My preferred method is this.
From having that initial idea I have designed the product to a stage where it works successfully and where it also proves to myself and anyone else that it has true potential. Typically this will require the design being translated into a fully functioning prototype and styled in a fashion that allows any potential customer to see exactly how the finished product could appear. It’s useful too if consideration has been taken as to how the product could be manufactured.
One important aspect of this whole process is the protection of your intellectual property which you have now created. While patent protection can undeniably be very expensive it is not always the case, especially in the early stages. In my own particular circumstances I have required protection of my ideas during the phase of the project when I was presenting it to potential interested companies. During this period of visiting companies to discuss my idea I have done so under the protection of an initial Patent Application. This Patent Application was always written by myself with help from the very informative guides provided free of charge by The Patent Office. Providing this is done correctly then a Patent Application and Number will be granted to your idea. This is useful as when you now contact any businesses about your invention you can quote this number and it shows them that it is protected. A Patent Application lasts for 12 months which will hopefully give you enough time to meet potential customers and possibly enter into some form of business agreement.
There is another way of protecting yourself from unscrupulous businesses which is to enter into a Confidentiality Agreement. This is effectively a contract between yourself and a third party not to use or divulge any confidential material shown or passed between themselves.
I hope from what I have written and my past experiences that you will see I may be able to help you with many aspects of trying to realise potential from your new idea. If so then I will be very happy to initially discuss things with you, and of course, in total confidence.