Hobbyist and seamstress Diane developed a unique invention called Seams Sew Fast. With the aid of a marketing and product development company, her product has been sold in thousands of stores throughout the country. Making Diane’s dream becoming reality and now she is enjoying an exciting life as a successful inventor. Listed below are the 10 steps that she combined with the product development company to take her sewing hobby craft product to market.
#1 – Signing of any confidentiality / Non-disclosure agreement
Should your invention is not really patent pending or has not yet received a patent it will always be a good idea to possess a confidentiality / Non-disclosure agreement. Select how much information you can make public or divulge using the I Want To Patent My Idea that you want to work with.
#2 – Send your product or service concept towards the product development and marketing company
You should select the right product development company for the invention idea. Make the choice by the connections they may have with big manufacturing companies or big box retail shops. Foe example, if your idea is a household item, then choose a company which has experience developing and promoting products in the home. You wouldn’t wish to select a company that lacks experience with the related market of the invention.
#3 – Report on product, advising of possible changes
Listen to the product development company’s advice, to make recommended changes. What you ought to listen for are changes and suggestions that could enable you to place your invention inside a retailers existing brand family. As an example, the item development company may suggest changing or adding a function that could complement a preexisting brand’s look and design.
#4 – Review of production and marketing possibilities
This maybe where you’ll have to rely on the product development companies advice probably the most, which is in the event you don’t already know the marketing possibilities. The marketing possibilities include who the consumer, or consumer lives. Also, just how much the consumer is ready to pay and where the customer shops.
#5 – Investigate intellectual property protections
It is recommended to conduct consumer research before trying to get provisional patents or full blown patents. Patents can be very costly and time consuming, make sure you know what Inventhelp Inventions Store is going to be and who will purchase your invention before applying for a patent.
#6 – Fabrication of mock-up sample
Create a model or prototype from the invention. A working prototype of an invention is the simplest way to work out any problems or functions of the idea. Most problems will surface while creating the prototype and save lots of money before the invention enters into full manufacturing production.
#7 – Showing of products to key account buyers
Chose and meet with potential buyers, such as manufacturing companies and large box retailers. Show off the invention in person as far as possible.
#8 – Gauge overall interest in product invention
Depending in the feedback and willingness to purchase from your account buyers select the appropriate manufacturing capacity. When the account buyers only want to consider using a small test purchase first, it may be necessary to start manufacturing small xqvfcq making an investment in expensive setup fees.
#9 – Decline / proceed with production, or negotiate royalty payments
After gauging the entire interest within the invention make a decision to produce the A New Invention yourself or license the invention to your retailer or manufacturing company. If you choose to manufacture the invention yourself you may need start-up capital or investment funding. Should you decide that the start-up expenses are too much consider licensing the invention and negotiating royalty payments.
#10 – Product launch
Your invention is made, manufactured, packaged, and ready available for sale.