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Old 22nd August 2011, 07:36 AM   #1
Jlindsay
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Default Need Some Help With My Idea.

Hello. I am new to the forum and this is my first post.
I have always wanted to start my own business. I have many ideas and i think i have finally came up with the perfect idea.

After doing some research i have found that there are no similar products on the market. I would like to protect the idea with a patent, although this is not a new technology, i am just modifying it and applying it to a new industry. Can i patent that??

The idea is quite simple. My company would sell the product to other businesses who would then modify it to their own standards then sell to the customers. An example would be if i sold a cover to apple for the 'ipad' or sold it to other computer manufacturers, they would then put their logo on it and sell direct to customers or distributors.

The product is a new way to market an existing product and solves a particular problem that the existing product has. I am not trying to compete with the existing manufacturers, i want to work with them all.

My questions are:
How do i pitch my product to these large multinational companies?

How do i protect my idea? Non disclosure agreement? Can i patent existing technology for another use?

If i cannot patent the idea, how do i talk to the companies without them taking my ideas?

Finally, my idea is currently only an idea. I have done research etc, but where do i go now? What is the next step?

Thanks for any advice. I really appreciate it

Jonathan

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Old 22nd August 2011, 07:43 PM   #2
BeTheBest
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Default

Ahhhh... what a kettle you got going here.

Oh yeah... Hi Jlindsay! Welcome!

You really didn't explain your idea, but I understand. I don't have a good grasp on what you're trying to do.

What I can tell you for sure is this.

Patents are going to be a huge waste of time and money... that is, if you can patent your idea. You can not patent something that has already been patented, but you can patent 'around' it... if you follow that.

Problem with patents are this. They only give you the right to protect it. There are no 'Patent Police'. Nobody monitors what's going on in the field. It's totally up to you.

So even if you've got 100 sets of eyes watching... and I decided to use YOUR patent. Then what? You contact me. You 'pound your chest' and make threats. So what. If I know enough about your company... I simply sit back and tell you to sue me. Go ahead. That will cost between $15-$20,000 out of YOUR pocket to launch. Much more if you lose the case too!

On top of that... I cloud ownership... have a string of offshore companies that you have to chase in OFFSHORE jurisdictions.... and maybe spend 10 years tracking down the company that (ahhh... chucks...) just went out of business. Ooops!

Got that kind of money sitting around in the top drawer of your desk? Uh.. I didn't think so.

So forget about patents.

Get a simple 1 page NDA. They keep honest men honest. I did a lot of work using that system. Release only as much as you have to until you get comfortable.

As far as your company only being an idea... you need some sort of sample. You need (at the very least) a prototype. Nobody is going to buy an idea from a guy who sits across the table from them, twirling his finger in the air, trying to paint a picture that nobody gets.

Hope this helps! Good luck!
If you need more help... PM me.

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Old 26th August 2011, 05:33 AM   #3
Jlindsay
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Default

Thanks for the advice.
Yes i totally understand what you mean about patents. However i would like the protection. I see this as a unique idea and im thinking about applying for a provisional patent. That would give me a year to try get the product to market.
Obviously i dont want to give too much away about the idea. But it solves a particular problem that 99% of the population has. It is a simple product so should be able to be manufactured very cheaply.
At the moment, i currently have:
A design of the product.
Chosen company name and website are available.
Know exactly where i want to sell it and have a rough estimate of RRP and profit margin.

I know this isnt much, but its a start. I think i will look into patenting my idea. Then approach manufacturers, distributers and retailers.

Another question:

How would i find a reliable overseas manfacturer?

Thanks
Jonathan

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Old 27th August 2011, 12:46 AM   #4
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Quote:
How would i find a reliable overseas manfacturer?
Good question... when you find out, let me know!

I can tell you that I have had a lot of experience with overseas manufacturers. To do this properly, you need an agent. That's somebody who WORKS FOR YOUR or has your best intentions in mind... they typically know who can do what.

Not trying to hound in... I do have contacts. If you want to PM me, I will drop you my toll free number and we can chat... if that helps.

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