How to Commercialize an Invention
There are several ways to market an invention. The route you take should depend on how much money you want to invest in your idea, and how much time you can dedicate to promotional marketing. Before you create your invention marketing campaign, protect it by filing a provisional patent application (PPA) with the U.S. Patent and Trademark Office (USPTO).
Things You'll Need
- Computer with Internet connection
- Materials to make a prototype (varies)
Instructions
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1
Draw your invention and label every part.
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File a provisional patent application with the U.S. Patent and Trademark Office. The cost is approximately $110. This application gives you the right to label your invention as “patent pending” for one year while you seek to commercialize your invention.
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3
Create a working prototype of your invention by yourself or pay a machine shop or invention development company to make it for you.
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4
Make the decision about licensing or assigning your invention rights to a large company, or creating your own company to bring your invention to the market. The latter choice usually requires much more time and upfront capital, but you stand to keep a greater percentage of the profit made per sale. If you license (or assign) your invention's rights to a well-established company, you and your lawyer will negotiate with that company to reach an agreeable royalty payment for a certain amount of time.
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Select a manufacturer to make a working prototype of your invention. After you approve it and decide to market the invention on your own, have the manufacturer mass produce it. See Thomasnet.com for a list of manufacturers.
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Estimate the manufacturing and marketing costs for your invention to determine the price you must have to make a profit, should you decide to commercialize the invention on your own.
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Set up a website to sell your invention online, or sell it directly through brick-and-mortar retail stores.
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Tips & Warnings
When first starting out, if you can afford to, consider offering your invention on consignment to retail stores to gain the sales confidence.
Check out websites, such as Innocentive.com and Edisonnation.com, to find out what kind of inventions they seek and if your idea falls within one of their categories.
References
Resources
- Photo Credit Clear lightbulb image by simbolocoma from Fotolia.com
