How to Patent & Sell an Invention

Your flash of inspiration could be the next big product.

Taking the time to patent your new invention is an essential step to complete when protecting your ideas. In order for your invention to achieve success in the marketplace and put money in your pocket, you must also remember to consider your invention as a product. Patenting and selling your invention may seem like an involved process at first, but it is well worth the effort if your idea is solid and your marketing is sound.

Things You'll Need

• Internet

Instructions

1. 

   Proper research will save you future patent rejections.

   Research your invention to make sure it has not already been patented. The United States Patent and Trademark Office (USPTO) provides online search engines with records dating back to 1790 for your use.

2. 

   The USPTO recommends using their eFiler system.

   File a patent for your invention. If you are modifying the appearance of an existing article of manufacture, you will file a design form. If you are inventing a new "useful process, machine, article of manufacture" then file a utility patent.

3. 

   The market today is global.

   Define the market for your invention. Use surveys and demographic reports to determine who will be most interested in your idea. Read trade magazines related to the product to better grasp how your target market operates.

4. 

   Use online and face to face sales methods.

   Outline your sales strategy. According to Entrepreneur, sales "goals should be specific and measurable, and based on the specific nature of your product." Use sales methods that work best for you, whether direct mail, meeting with local retailers, or using social media.

5. 

   Grow your success in planned steps.

   Build your demand by gradually expanding into bigger markets. Use product testimonies and feedback from your first generation of customers to approach larger companies in planned growth stages.

Tips & Warnings

• You may apply for a provisional patent for a $100 fee, should you decide to test your invention in the marketplace first.

• Qualifying small businesses, non-profits and independent inventors are eligible for a 50 percent reduction in filing, issue and maintenance fees.

• Patent application forms may be downloaded from the USPTO website.

• The USPTO website offers an extensive resource and guidance section to ensure your patent is filed correctly.

• Expedited review is available for your patent application, if certain guidelines are met.

• The commercial success of your invention is determined by if consumers will purchase it in a competitive marketplace.

• Attach deadlines to your sales strategy to stay on task and track your goals.

• Patent maintenance fees are required every 3 1/2, 5 1/2 and 7 1/2 years.

• The USPTO recommends contacting a registered patent attorney or agent to help you complete the complex application process.

• The USPTO provides no financing or marketing support for inventions.

References

• Businessweek: How to Sell Your Invention
• Entrepreneur: Selling Your Invention

Resources

• USPTO: Process for Obtaining a Utility Patent
• USPTO: Forms
• USPTO: Current Fee Schedule