THE BLOG

The Ultimate Guide to Patents: How to Turn Your Ideas to Profitable Patents

02/20/2015 06:20 am ET | Updated Apr 21, 2015

Life can be unpredictable. At any point in time, a brilliant idea could spring into your head. Regardless of the originality, quality and need for your invention, you will never find success, if the research and development do not meet modern standards.

2015-02-20-PatentProtection.jpg

When you first sketch down your initial product design, you will likely be unaware of the complex path ahead, but in order to become a success, you need to follow a strict process, which will lead you from your first draft, to patent, and finally to reputable inventor and businessman.

The patent process can be a struggle in itself, since it is corrupted, filled with trolls, and in desperate need of legislative reform. This guide will acknowledge and pave the way to profitable patents.

Research and Development

We live in a society, which runs at one hundred miles per hour. New inventions are developed and launched daily, which can elevate the difficulty of breaking into a specific market.

Your initial step should focus on the crucial research and development stages. Strive to find a product that is original. If you're not passionate about your product, no one else will be. Choose wisely and you will have already developed a strong foundation.

Patent Research

Once you've developed an idea that proves worthwhile, you will need to research the patent database. Pinpoint specific patents, which share similarities to your own design. In order to avoid future lawsuits, it is wise to alter your product to make it stand apart.

While it is important to change your initial design, you should not throw your introductory dream out of the window. Once you've reached the point of a unique and original product, it is vital to raise funds and patent it immediately.

Finding Investors

For most inventors, lack of funding is a major obstacle. In order to fully research and develop a product, you will need investors and funding. It is imperative to build sizeable funding, before you attempt to build a prototype or put together a manufacturing team.

Crowdsourcing offers inventors a unique and effective way to get the money needed, without giving away a percentage of their product's profits. However, this should not be done, until the product is patented, because someone, who has more money, can easily steal your ideal, if they patent it first.

Understand your Market

Depending on your specific ideal, you will have unique types and groups of individuals, who will be interested with your idea. There are many ways for you accomplish this. One of the most common is through InventHelp where you will have acccess to manufacturers and companies would be inclined to build and sell your products. Remember that this company is not responsible and in no way offers advice regarding your idea's patentability. However, they offer guidance for researching and understanding your market.

Manufacture a Prototype

In order to market your product, you're going to need a prototype. An ideal is wonderful, but consumers make decisions in a hurry, by examining a product intently. Your next step should focus on building your first prototype. If you have not yet patented your product, it is of the utmost importance to seek out and work with only trustworthy individuals. Since you're working with a potentially valuable product design, you must keep everything silent, until a patent has been filed. Remember the patent office works on a first to file basis, which allows anyone an opportunity to steal your idea in the meantime. Once you have a working prototype, you will be able to begin the marketing process.

Conclusion

From here, it becomes a process of properly advertising and marketing your product or invention. Although it is important to plan for the future, you should take everything one day at a time. If you begin experiencing success, it is wise to seek out the assistance of a patent attorney, who will be able to protect your investment from the trolls, who benefit from filing bogus patents and then frivolous lawsuits against their targeted company. Although patent reform may correct the problem in the future, it is up to you to protect yourself in the meantime.

More:

Patents