How would you go about selling inventions or ideas for inventions?
Let's say you invent something or have the idea for an invention. You might have a prototype and/or at least some design documents with a lot of notes. How would you go about selling it? Is there a service online that would cater to this? And how would you prevent someone else from stealing it? A patent?
First of all I would get a patent before I told anyone else about my idea.
You know, going about the entire process of creating, designing, finding a manufacturer, getting a patent lawyer, determining packaging, setting up a website, marketing the product, and managing financing can all be very expensive and time consuming.
While you can make a lot more money that way, it also takes a lot of work. The question is, is it worth your time and can you do it right?
Two alternative options I have for you include:
Use Indiegogo.com. Once you have developed a business plan and know how much everything will cost, if you are okay with people knowing about the idea, create a crowdfunding project to pre-sell your product. You can test the actual market size and make the money you need to get the project going.
Another option is quirky.com. I actually just found out about this website a couple of weeks ago. They will actually make your invention for you! That is, provided the crowd likes it. If you submit an idea - or help develop someone else's idea - you get a percentage of the profits for life! Honestly, unless you want to make your product your life (which starting a business will certainly require), I suggest posting it on Quirky.
Feel free to learn more online money ideas and tips from my newly started blog: laptopmoneytips.com!
Good luck with your invention.
I would suggest a patent. Otherwise they would most likely just steal it. There is little reward in our society for original thought unless you protect yourself legally. If you have sufficient capital you could develop the product yourself, but if you make something that works without a patent it will be copied by whoever manufactures it and re-sellers of similar products.
I would definitely obtain an attorney and then go about trademarking and patenting my ideas before it was too late. The attorney can guide you through the process from that point on.
I have seen a few online companies out there. I think everyone else is right, and you should probably get a lawyer and accountant to help out. www.inventiontomoney.com seems to be a good start. I have some plumbing tools and ideas I'm working on right now.
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