How to Sell an Invention
Although many inventors prefer to directly sell their own products, in general this is not the easiest way to sell an invention. If you can find an established company willing to license, produce, market and distribute your invention, you can benefit from their expertise and recognition. A large company may be able to sell your invention all over the world--something which you probably can't do yourself.
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Instructions
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Find a good patent lawyer. Whether you are directly selling your invention or marketing it to investors, you need to patent it as a way to protect your rights. You should also draft a nondisclosure agreement which you can have potential investors sign before they observe your invention.
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Create a prototype. If it is within your means to build it, create a fully functioning model to show to investors.
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Come up with presentation materials. Print out sleek, attractive templates and business cards. You may also want charts, overheads or PowerPoint presentations. It may pay to hire a professional designer to develop some of your materials.
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Develop a short presentation to give to investors. Discuss the invention, who it is targeted to, what need it serves, why you think it will be a big seller, and how much it will cost to produce.
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Set up some meetings with potential investors. Your attorney should be able to help you find investment groups that are interested in similar sorts of inventions. Set up meetings with the most promising candidates.
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Negotiate the terms of your investments. The investors may wish to buy all rights to your product, but it is usually in your interest to keep some rights and license it instead. When the company licenses your product, it buys the right to manufacture it for a certain length of time in exchange for giving you a proportion of the profits which you negotiate. When the term of licensing expires, you can re-license it to the same buyers or find another company which is interested.
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Tips & Warnings
Be realistic about budgeting. You will have to pay for attorney fees, airplane tickets, presentation materials, hotels and the cost of manufacturing a prototype. Sometimes, it makes sense to sell an invention out right. It will give you a lot of money immediately, allowing you to work on the other projects.
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Comments
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I have invented an incredible generator whose proposed name is CPG(closed power generator).this is a fuel free generator and it can produce hundred percent free and environment friendly energy.it can be constructed with different capacities for both domestic and industrial purposes.the energy source used in this generator is entirely different from the existing energy sources and it is being used for the first time ever.it will prove to be the best energy alternative in future.i have prepared prototype model of the generator and I want to upgrade it.i want to sell my invention.
