Finding a problem to solve

When you're considering a new invention idea, it's important to identify a problem that you'd like to solve. This may not seem obvious, but solving a problem is a major part of the invention process. It can inspire you to create a new product, and you'll be more likely to create something better than what's already available.

Typically, inventions are products that solve a problem. A common example is a pain relieving product. Another example is a game that satisfies a boredom problem. It's essential to understand the problem before you can come up with a great idea.

Creating a prototype

Creating a prototype for a new product idea can be a crucial step in the development process. This is because a prototype is the first working example of a product. It is helpful for various purposes, including pre-selling, marketing, and raising funding. A prototype also allows an inventor to work out any kinks before putting the product into production. It is important to create a high-quality prototype to reduce the need for revisions later.

The first step in creating a prototype is to determine exactly what the prototype needs to do. Write out a detailed description of how the product would operate and what its inputs and outputs would be. The next step is to sketch out the product's design. You can use a digital drawing program to create a prototype or create a rough sketch by hand. Sketches drawn by hand have an advantage over computer-generated designs, because they carry more weight in court.

Filing a patent application

When you've come up with a new invention ideas, it's a good idea to file a patent application as soon as possible. This preserves your priority under the "first-to-file" patent system. In addition, you can then use the term "patent pending" to notify the public that your idea is under the patent application process and has established its rights.

In order to protect your new invention, you need to keep a detailed record of your idea. Not only will this help you prove that you own it, but it will also allow you to document your creative process. It is important to write down every single step you take prior to filing a patent application. Be sure to sign each entry and have two witnesses witness the document as well.

Finding an investor

When it comes to finding an investor for your new invention idea, you have a number of options. One of these options is to find a business network that is willing to invest in your new product. A business network has a number of advantages over a single investor, including the ability to assess the potential profitability of your product. Another option is to look for a licensing partner.

The first step in finding an investor for your invention ideas is to get it out there. You can reach out to friends and family. This is a great way to find the people who will help you finance your idea. However, you should make sure that the investors you seek are ethical and experienced. Also, it is vital not to get into debt to patent your idea, so you should make sure that you ask around before making any final decisions.

Getting a license for your invention

One of the first steps in obtaining a license for your invention idea is to get a working prototype of the product. This is necessary to convince a potential licensee to take on the responsibility of producing your product. Some experts recommend that you create a one-page sell sheet with photos of your invention. This can be accomplished for under $100. However, it's advisable to create just a basic prototype.

If you do not have the time to do this yourself, you can hire a licensed lawyer. There are several types of licensing attorneys to choose from. Some specialize in a particular industry and will have strong connections in that industry. Alternatively, you can find a licensing agent in your area by searching trade shows, industry magazines and even your local inventor's club.