Coming up with a great invention and making money from it are two very different things. The inventor thinks about how to make life easier and more interesting by creating new products or new versions of old ones. The salesperson, on the other hand, thinks about how to get customers interested in a new product. How do you sell your patent?
Necessary
- - Correctly issued patent;
- - the model of the invention;
- - business plan for the application of the invention.
Instructions
Step 1
Learn about what can and cannot be patented. Find out what rights the inventor of the patent has. You must remember that your patent must be significantly different from what was previously created. You need to know how to properly demonstrate your invention. So, for example, if you come up with a vehicle, you must make a clear plan showing exactly how this machine works.
Step 2
Apply for a patent. You will need to create a plan, hire attorneys for your affairs, fill out a patent application, and pay government fees. It will take some time, but this way you can formalize all the legal protection of your idea.
Step 3
Prototype your patent idea. If possible, build a full-blown working model to show to investors. If this is not possible, then create something that at least looks good enough and demonstrates how your product works. Remember, looks are just as important as functionality.
Step 4
Prepare a 5-minute presentation about your product. Indicate what it will be used for, why it is useful and necessary, and who will buy it. You can also include slogans, marketing ideas, profit and cost estimates, and any other information that could help convince investors to finance your property. You should also print out brochures and handouts detailing the benefits of your product. Finally, you must create business cards with contact information.
Step 5
Use the internet to find buyers interested in your product. Connect with industry organizations close to your field of invention, attend exhibitions and distribute your materials to visitors.
Step 6
Close a deal with a customer. You can sell your patent or license to investors. Alternatively, you can outsource it to a company of your choice to start mass production of your product and sell it for a specified period of time during which you will receive a share of the profits. Then you can continue cooperation or contact another company.
