Has anyone sold a design? 8

[TXMEEN]

I have an idea that works well in my CAD model and could be very helpful to others. I recognize working on paper means nothing if it doesnt work after being fabricated.

I can have prototypes built but the cost will start to add up during the testing stage and having numerious prototypes fabricated to work out the unforseen bugs. Another option is to prepare a presentation and attempt to sell the design/concept to a company.

Has anyone taken an idea from a design in their head to something on a shelf at a store? Has anyone sold an idea? What are some pitfalls in the process? What are some ways to communicate with the appropriate department at a larger company. I doubt you can just call the main 800 number and say you have an idea.

Thanks

 

[moltenmetal]

No, never sold a "design", but have had plenty of stuff stolen, or given it away to customers or employers over the years. In fact, a former colleague's brilliant invention patented by a former employer is about to expire, and I'm looking forward to that- the current owner of that patent doesn't realize its value and in fact may have forgotten that they own it at all.

This history of being ripped off actually solidified some business for me recently- a prospective client and I were both ripped off by the same major international company. Now we're blood brothers! Some companies realize that to develop new technology you need scientists, engineers, laboratories etc. AND lawyers, whereas to rip off somebody else who has already developed a technology, all you need are lawyers!

Patents are expensive and hard to defend (meaning both time and money for lawyers and others).

The most effective use for patents I'm seeing at present is using them as a means to legitimize utter hokum- bogus stuff that is used to scam investors out of their money. No need to "defend" a patent on something that doesn't work, so no cost there. No need to spend a lot of money writing it either, since you don't care to defend it. But dumb people see patents as proof of concept, rather than merely a document that gives the owner the legal right to exclusively manufacture the thing that doesn't work for the next 20 years. And as P.T. Barnum said, "Nobody ever lost money underestimating the intelligence of the general public"!

 

[lumenharold]

We have and will continue to pursue patents when we think it is to our advantage. The issue for us is that we are a very small business which will make defending our patents difficult. Our lawyers are willing to pursue infringment cases based on winning. Think "taco bell dog". We have great lawyers.

We are developing what we think is a great technology now. The biggest problem we have run into is that when we approach a large company where we think it is a natural fit the concern is "technology taint". What if they are working on something even remotely similar? Again, think "taco bell dog". They will not sign NDAs. They will only discuss public (patented) information. The technology does not have value to them if it is not already protected and public.

As for investors, Chris has it right on. VC won't be interested until there is an established business with real clients and cash flow. Nobody invests in ideas. If you have a great idea I would suggest reading "The Art of the Start" by Guy Kawasaki and then doing a search for local start-up support groups. In west Michigan an example would be Innovation Works through the Right Place program.

http://www.rightplace.org/Innovation-Works.aspx

Good Luck.

Harold
SW2010 SP1.0 OPW2010 SP1.0 Win XP Pro 2002 SP3
Dell 690, Xeon 5160 @3.00GHz, 3.25GB RAM
nVidia Quadro FX4600

http://www.lumenflow.com

 

[LuckyJim]

I would suggest you check out a service such as that provided by Trevor Baylis.

http://www.trevorbaylisbrands.com/

(or something similar if you're not in th UK). For a very small fee they will evaluate your idea with respect to patent infringement, marketability, manufacturing etc, etc
Well worth a look and they won't disclose it to anyone without your permission.
I think the cost is around £200.....

 

[flexibox]

Have you established if there is a Market for your invention? If not then why bother!

 

[TXMEEN]

Good point flexibox. My idea is more of a safety device for homes/apartments/buildings etc preventing property damage/loss. It would be a good thing to have but isn't one of those things that you would see and want to buy because it would be fun to have.

I would imagine it would not be a big seller with consumers at a hardware store at first but would be more valuable to insurance companies who would not have to pay for as much for losses since less damage would occur.

I would imagine making a pitch to an insurance company would be out of the question as they are huge and I am just an individual. Getting it on the shelf at a hardware store may not drum up enough interest to make the idea profitable after paying for pattent and attorney fees.

 

[tomwalz]

It’s a hard road selling safety. Check out the Sawstop story.

We build and sell machine coolant filter units. The original goal was safer shops. The attorney convinced us than there was way too much liability in that approach. Fortunately, by that time, we had enough data to sell them as a time and money saving device. It is still like trying to convince people to go to the dentist.

Tom


Thomas J. Walz
Carbide Processors, Inc.

http://www.carbideprocessors.com

Good engineering starts with a Grainger Catalog.