How to Value and Market Design Innovations

There are literally thousands of people who want to help you . . . usually for a fee of course (buried somewhere in their shtick)

For instance:

https://www.nolo.com/legal-encyclopedia/getting-patent-yourself-29493.html

Patent applications are hard work. A close co-worker was recently awarded one. And he had the law department and IP department of a very large corporation to 'help' and he still worked his butt off to get his name on that piece of paper. Owned by this corporation of course, but he does have bragging rights, which along with $5, you might get a cup of coffee at Morebucks.

Market yourself as a consultant with a contract for services that includes an hourly rate and a piece of the action for any ideas utilized...Write down your ideas and date them with a brief description how you came to think of the idea,, for any ideas that you think may be worth money, and have a lawyer read and keep them for you...Make offers to business owners that you will assign them the ideas if they pay you royalties or a percentage of savings upon utilization....If you see any of your ideas being utilized, file for patent protection, and threaten lawsuit through lawyer for settlement or assignment payments...Get a good patent lawyer and negotiate through him...

How do you file for patent protection on an idea already being used?

How does one little guy threaten legal action against a corporate entity with more lawyers and deeper pockets?

Nice ideas, but not based in reality.

I'm listed on a couple of patents and yes.. They are hard work, but that's just the beginning.

Good design ideas in your head are imaginary.

Either get them out and share them freely or file a for a patent and share them for what they are worth.

If you had the idea first and documented it, and are the first to file for patent protection, it doesn't matter if it is in use....all you need is a patent pending

How does a little guy threaten a larger company? You make a deal with a law firm to split the take, if they feel there's enough money at stake, and your claim is solid, then you get the company to settle....you take what you can get...

You can't patent something that's been made public..

If that were the case, people would be trying to sell something... waiting for it to be successful and then filing for the patent.

Who said anything about making it public?

You silly.

"If you see any of your ideas being utilized, file for patent protection"

So he should already have documentation as to when he developed the idea on file with his lawyer...and if he shared the idea with the company and they signed the NDA, then he has the upper hand...legally speaking

See post #10

https://en.wikipedia.org/wiki/Prior_art

That's where establishing a Provisional Patent to securing your art work prior to being issued a patent is important.

Keeping in mind that a Provisional Patent has a shelf life of one year.

'How does a little guy threaten a larger company?'

'Patented by Smith & Wesson'

I did consult a patent attorney once , he said unless you are a massive company with deep pockets then don’t bother with a patent because there are a hundred guys from a certain northern superpower who sit there and laugh their heads off at our stupidity , they just read them and pick out the cream ideas to manufacture before we even finish testing our first prototypes .

I do hope that for new ideas that are big enough I would do an NDA , approach a big company in that field and with a signed NDA , witnessed by video or photo at time of signing , I could possibly enter into a commercial agreement where I am guaranteed an outright payment if they sit on my IP without making reasonable effort to develop it , or obtain royalties when developed for the benefit of both parties

I found out, that you can file a provisonal patent,... it’s temporary and very simply and quick to do. It’s been put out to secure the patent while it’s under development.

and if the idea is out in public before it’s patented... game over for a patent.

i have a link, that I had sent a friend about a year ago... otherwise google provisionally patents... I’m sure it’ll come up.

one issue that I have, is patenting a process, which consists of possible multiple patents. How to you reference provisional patents on a process... I’m thinking one most secure the provisional patents on individual artwork items, so you can reference them in a process form of art work.

'If you see any of your ideas being utilized, file for patent protection'

Too late then.

I didn't mention the NDA

A powerful tool for sharing an idea. Virtually guaranteed to stifle further innovation, and that's about it.

I shared an idea with a company on a patent-protected product and they came out with a workaround product that was on the shelves in about 6 months.

The point being is that if a big company really wants your idea they will steal it if given the opportunity.

No thank you letter, no acknowledgement, no shared royalty etc. ad infinitum.

Grab a scotch and button your lip around those government ministers..

It may be that given the current state of “first to file” patent law and state of electronic intrusion the best way to profit from your ideas is to form your own company to produce the product.
I would not let the fact that the system is designed to thwart individual initiative while encouraging IP theft prevent you from dreaming.
“It is amazing what you can accomplish if you do not care who gets the credit.” -- Harry S Truman

thanks for sharing.

Yes , its one approach;

do the design and manufacturing as discretely as possible.

be first to market and hammer it hard.

then hopefully you can make a motza before china copies it and hope that your quality product keeps market share while attempting to smack anyone on the head at el-cheapo point of sale for as long as possible.

I’ve always thought with the ideas ... innovations or best payout was getting it to market faster. Just due to some of the simplicity of innovations I did... because the industry I was in the integrity of the OEM manufactures was really none existent.

as far as patenting,... the prior administration changed the patenting laws, where I’m no longer am familiar of what takes precedence anymore.

All I know, is, I made more profit by doing the write up and the artwork for others filing patents.

You have some good advice from other posters, but a key question:

Do you want to set up a company and actually make the product or do you want to license it to some one else? Or, do you want to sell your idea(s) outright for a lump sum?

You may think you have original ideas, but a patent search is always required and those cost money. I tried to patent what I thought was an new item, but a patent search(and thousands of $) turned up hundreds of "similar" items going back a long way, hence, no patent issued without more work and $ spent. I did not pursue any further as the cost of continuing far outweighed the benefits($). You have to be able be able to get your application worded just exactly right to establish why your product is "different" and then can be granted a new patent, but be prepared (extra $) to protect your patent as there are a lot or lawyers out there who specialize in patent law and usually have the resources ($) available to make your life miserable and put you in the poor house by suing you.

Setting up a company is relatively easy, but having something to market is another thing. In my case I managed to find some trustworthy partners who had the capital available and saw that we did have a marketable product. What few areas I was weak in, they brought to the table. But after many years in business, especially in running one, you pick up everything you need to make a go of it.

You do need help, where you find it will be up to you.

I already have a small manufacturing business but I would prefer to do deals for royalty or lump sums.

yes I have done patent searches in the past after months of design prep and found two of them had already been thought of and patented , one example being automatic back flushing (self cleaning) air filtration systems for earthmoving and mining equipment which I discovered had been patented by Le Tournea .

patent searches for other ideas show they have not been thought of or filed.

i feel from posts so far that I may be best to look for a “big brother” business and With the right protections in hand , utilise their “broader spectrum” of staff skills in marketing and law

I have filed six patents. Five made money for me and the companies where I sold/jointly developed the idea. Of the sixth, the less said the better, it sank without trace leaving me a few thousand poorer. It was a good idea but a few months later someone came up with a much better idea, and that is a risk that you will always face. I filed using the UK's largest patent agents and they run an insurance scheme so if a third party infringed they took up the case on my behalf. As an individual there is no way my pockets are deep enough to take on large (and in my case overseas) companies, but once they found out that they were not taking me on but a highly respected, professional and expert legal outfit with deeper insurance backed pockets, either an outright sale or royalties were agreed. In a couple of cases the big guys just walked away to look for easier pickings elsewhere.

For all my patents I found the market first and then developed a solution to fit a hole in that market. I knew at the outset that my ideas would payback both the up front patent costs and the quite expensive insurance premiums. I have had loads of ideas that did not pass that test, so I abandoned or generated good will from existing or prospective customers by giving the idea away. Don't spend a lot of time on an idea until you know where and how you are going to sell it. As to value, if you come up with something totally new or something you don't know how to value, partner with someone who knows the market and how to sell it. Better to split the profits of selling at the right price than get all the profits from something you have vastly under-priced or as in your case nothing at all.

Patents are expensive to get and maintain. Look at copyright and registered designs as much cheaper options with almost equivalent protection.

Been inventing over 50 years. After the first 3 or 4 or 5 decades you realize that the IP mafia has owned all your ideas since even before your ideas were 'born' - even before YOU were born.

My usual advice to anyone with 'a good idea' is to take two bex & have a good lie down. Hopefully you will feel much better in the morning.