# Invention/ideas to market?



## Julie (Feb 8, 2007)

Does anyone know how to bring a new product / idea/ invention to market? Financing? Etc.? 

My husband has come up with several great ideas but we don't know where to go after the "idea" part. How do you start? What do you do next? How do you get financing?

We have contacted an invention number that advertises on tv,but they want money up front(several thousands) and we were warned not to send them money,that it was a scam.

Any ideas?

Thanks in advance.....eace:


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## RikiDaisyDixie (Apr 15, 2008)

*we have a friend who knows it all...*

PM me and I'll give you the details. We have a friend who has gone the route with some dog products. He is now on one of those shopping channels or something. He got backing, financing, and had the product made overseas.


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## Julie (Feb 8, 2007)

Linda,
I'll contact you through e-mail. 
Thanks!:hug:


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## brandy (Jun 12, 2007)

This is intersting. How did your friend do it? I have thought of things and wanted to pursue them too but never knew where to go. Ive seen that add on TV too and contacted them myself but for obvious reasons it didnt go any further. Would you share info?


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## Thumper (Feb 18, 2007)

The first thing you need to do is get a patent, trademark. You can find details on applying for that here:

http://www.uspto.gov/

Depending on what the product is, would determine where/how to find investors. We (hubby and I) are venture capitalist, so we do find money/investors for small companies, but we specialize in Mining and Technology, I may know someone, but I'd have to know what the product is, or sector. He may be better off with loans, and may be eligible for small business loans, typically...investors want a high return quickly, and/or the company to be brought public on one of the smaller markets...which is a whole other ballgame.

Kara


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## Julie (Feb 8, 2007)

Is it safe to approach an existing company with a better idea for improving the product they got? What keeps them from going "no,dumb idea"--but 3-6mo.later implementing your idea?


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## Thumper (Feb 18, 2007)

NO.

Not without a 'non disclosure agreement'. Google around, you may be able to find a free template, but it is basically a legal document that your husband would sign, along with the person he is discussing/disclosing his ideas to, and it would have to be notarized (for protection)

Which basically states that this person cannot discuss and/or implement his idea in way, shape or form, or your husband would get all the profits, etc.

http://en.wikipedia.org/wiki/Non-disclosure_agreement

This would protect him. But I would not trust companies claiming to help unless I did a HUGE background check. There are lots of crooks out there.

Kara


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## Thumper (Feb 18, 2007)

Oh and be careful with these invention companies that claim to help, have your own attorney review ANY agreement, or even non disclosure agreement that is provided by another person and/or company. They could have fine print that says they have the rights to 80%.

I know someone who was scammed big time with one of these companies and he lost thousands of dollars and created SUCH a mess for himself that nobody could help him, he bought a really ****ty 'shell' company and basically lost his idea/profits and there was no recourse because of the papers he signed w/o hiring an attorney.

Even sharks can be nice and wear Italian suits and seem trustworthy. And there are lots of sharks out there.

Kara


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## Thumper (Feb 18, 2007)

Julie said:


> Is it safe to approach an existing company with a better idea for improving the product they got? What keeps them from going "no,dumb idea"--but 3-6mo.later implementing your idea?


_A non-disclosure agreement (NDA) (often known outside of the United States as a confidentiality agreement; occasionally called a confidential disclosure agreement or CDA, or secrecy agreement), is a legal contract between at least two parties that outlines confidential materials or knowledge the parties wish to share with one another for certain purposes, but wish to restrict access to. It is a contract through which the parties agree not to disclose information covered by the agreement. An NDA creates a confidential relationship between the parties to protect any type of confidential and proprietary information or a trade secret. As such, an NDA protects non-public business information._

A non-disclosure agreement will protect him. They are done all the time in the invention/patent world. I've signed atleast 10 of them.

Kara


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## Julie (Feb 8, 2007)

Wow---I knew this was tricky--

I didn't pay for a patent,and had my idea stolen and changed up alittle and it hit the market in catalogs etc. I have kicked myself in the arsh every since---but I'm not sure the patent would of helped me much--still very sad.

Now this is my husbands idea(s) and we are gun shy...almost afraid to make the next move.


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## dboudreau (Jan 12, 2007)

I agree with Kara, you have to protect your idea and yourself before you share your idea with anyone. Can you find a "patent lawyer" to advise you how to proceed?


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## Thumper (Feb 18, 2007)

The problem with patents....Is that someone can take you patented idea or design and TWEAK it just so, and its not in violation of your patent, how alterable is your husband's idea? would a slight change in the product be the same, basically?

An experienced patent attorney is a great place to start, even if he just goes in for a consult and gets some feedback on marketability, production, etc.

A lot of smaller companies want to be 'bought out' by large companies for their ideas and there is more work to it than you'd think, lots of meetings, negotiations, and NDA's.

I wish you both the best of luck! 

Have you ever watched that Inventor show?

Kara


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## Julie (Feb 8, 2007)

We have watched that inventor show. My husband was fascinated by that.....however we thought some of the ideas were better then what actually won/vise/versa you know?

I think that is most of the problem--people are out to steal your ideas and make a profit off of the actual person who came up with it,so it doesn't take much to change it up a tiny bit and call it your own. There probably isn't a way to prevent this is there?


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