to patent an invention it cost minimum of £200 and then renewal fees can amount to £4000 over a period of 16 years in the UK and could rise higher if you want it protected in foreign countries.
:-(
And I have a good idea of an invention, its so simple and effective.
And you need a good lawyer to word it so that teams of coaches and horses can't canter through it. Don't forget you have to spell it out in detail and that info is then in the public domain.
Well, keep it to yourself and hope that the market is too small to interest big companies.
If you read a few patents you can get the idea for the wording. Most of it is set phrases repeated ad infinitum. Basically, cover all possibilities of uses for the invention, but not limited to those uses of the invention. Also cover all methods of producing the invention, including various logos and wordings on the outside of the invention that may suggest other uses for the invention. Any tiny loophole that is not explicitly mentioned could be exploited by somebody. Sometimes the wordings make you laugh, they are so over-stuffed. But that's the case with all legalese ! I believe the govnerment and/or Trevor Bayliss are trying to make patents cheaper. Simon.
If you read a few patents you can get the idea for the wording. Most of it is set phrases repeated ad infinitum. Basically, cover all possibilities of uses for the invention, but not limited to those uses of the invention. Also cover all methods of producing the invention, including various logos and wordings on the outside of the invention that may suggest other uses for the invention. Any tiny loophole that is not explicitly mentioned could be exploited by somebody. Sometimes the wordings make you laugh, they are so over-stuffed. But that's the case with all legalese ! I believe the govnerment and/or Trevor Bayliss are trying to make patents cheaper. Simon.
So how would I go about tackling B&D with this merely as an idea I want to sell them it at price?
I'd think about teaming up with someone who can make it for you, someone to maybe do the prototype work for a share of the profits. Ideas are ten a penny but getting to the next stage is not so easy. Small manufacturers will often take as punt at something if they believe in it and it fills a slot in their production schedule. I think most inventions fall at the first hurdle because they're over-priced. If it would eventually costs a fiver to make a 1000, that's the figure you need to work on rather than what it's cost you to make one in your garage. I couldn't believe The Dragons turned down the girl with the gauntlets attached to the pushchair idea. I expect the pie in the sky projections they attach so much imprtance to weren't up to scratch, but I think young mums might disagree.
is it 'obvious'? (it will be rejected) has anyone else already patented it or something like it? has anyone else described it in a published document? would you have the financial ability to defend the patent if it were violated maybe Black and Decker are already working on a similar idea in secret. Even if you patent it they would have 'prior art'. Despite what other have said, I think it is very difficult to write a good (defensible) patent.
If you present your idea to companies, make sure it is clear and in writing whether you are disclosing something confidential to them. Expect them to be very wary of allowing you to present confidential material to them. their big fear is that you descibe your invention and it turns out to be something they already have in development. You later (in good faith) accuse them of stealing your idea. They have to waste a lot of time and money proving tha they had already thought of it before you told them.
Robert
That's a drop in the ocean.
The value of a patent is linked to what you are willing to spend on legal costs to defend against an infringement.
If no-one wants to infringe your patent, it's not worth patenting.
If someone does infringe your patent, you will need very, very substantial financial backing to win your case and force them to stop.
To have a reasonable chance of winning, you really need a professional patent lawyer to have drafted the application in the first place. He will have tried to cover every base that *their* lawyer will use as a loophole when they get challenged one day in the future. Your chances of getting that right on your own, first time, are slim.
Two realistic options:
Find a company interested in exclusive rights to exploiting your invention, and make part of the deal that they bear the costs of the patent and any legal defence.
Make a quick killing by getting to market first, and forget about the patent. When somebody copies it, be ready to release the improved version.
Invention = easy Entrepreneurship = hard
In the real world, make it, sell it, and hope nobody bigger than you takes a fancy to the idea. If so, go back to the shed and invent something else
Very good advice.
Patenting and offering an idea to a company are both insecure.
Mary
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Don Lancaster`s take:
Although offering the idea to companies is insecure, sometimes I think it's the only viable option.
Thanks all for response,appreciated and taken onboard.
ps but how do I get it on the market without patent?
Im thinking sell to each individual shed company at say 500 pieces per company,offer to buy back the pieces if it does not sell (but it will I guarentee it will) it'll make someone in the building/diy games life a doddle to what it is now. Its cost to make wont be expensive? will be ade of Alloy and a cinch to use.
If you have an idea that really is that good, £200 is nothing. An hour of professional services from a solicitor costs that. Frankly, in the scheme of bringing a product to market, £4k is bugger all as well.
If you want to approach a manufacturer with it, then it would be appropriate to go armed with a non disclosure agreement. These provide some measure of protection, but like a patent, would require deep pockets to enforce.
However, the invention may not be as original as you think it is, and if worded too broadly, it would be hard to get anybody to enter into an NDA.
Really the starting point is to decide what you want from the invention
- perhaps bringing it to market in some way and hoping to keep ahead would be better.
Then decide what you are willing to invest. If it really is good and you believe in it, then you will be prepared to take high risk and invest heavily. However, this is not going to be in 3 and 4 figures but probably 2 orders more than that.
The first stages of thinking are the easy bit. Having the balls to risk everything or most things is something else. It's OK after you've done it the first time (I have on 4 occasions). The first time is the worst. Good luck with it.
I don't disagree, I just want to give the warning that it's not secure. A friend of mine had an idea, offered it to a company and now it's universally used - he got nothing because they company claimed that they had developed it. They had the money to argue, he didn't.
Mary
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You don't *need* to have a patent to market something.
Another aspect to consider is whether there is any possibility of product liability. Is there any way that anybody could directly or indirectly injure themselves by using it or in any way connected with using it? This would affect whether there would be willingness by a retailer to take it on.
Nope, its free of product liability unless they use it as weapon to hit someone over the head with,on saying that the damage will result in the item and not the person. :-)
Where do you get it done that cheaply?
Colin Bignell
You can, however, buy insurance to cover the eventuality.
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If you get that stage right, by the time anyone else can get their version onto the market, yours is the name that everyone knows and wants and you dominate the market to such an extent that they cannot do more than pick up the crumbs. (Been there, done that).
Colin Bignell
Nothing is free of potential product liability and it is a good idea to take out product liability insurance. I would suggest £1 million as a minimum level and £5 million as preferable but, if the product really is safe, that should not be too expensive. You might even be able to get £1 million from one company and anything over that from another, although I've only tried that with £5 million base cover and £5 million top-up, to meet Government department requirements. The top-up cover is much cheaper than the base cover, because the risk to the second insurer is lower.
Colin Bignell
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