Life is full of possibilities. Innovative and brilliant ideas can pop-up in your head at any time and any situation; which you can possibly turn into rewarding patents. For the idea to be an invention (despite of the fact of the originality and quality of the invention) it has to go a long way for meeting the modern standards. If it fails to do so, the invention can never be patented and popularized.
The path from idea to an invention may sound easy but is a gradual and methodical process. It requires one to first sketch the ideas or create a product design. This is then followed by an initial draft which eventually through various other examinations qualifies itself to gain a patent. A successful inventor or businessman is finally born!
Ways to Turn Your Ideas to Rewarding Patents
Research and Development
We live in a society where new ideas and inventions come up almost every day. Some of them obtain patent and some not. Those inventions which are granted patent obviously raise the difficulty level for other inventions in their related fields.
As an inventor your first and foremost job will be to find and prove the originality of your invention or product. No one will be as fervent as you for your own creation. This phase is the basic building block and the most important of all. The future of your product depends on this research and development.
Once you have developed an idea that can be worth patenting, the time comes for an extensive patent database search. Search every nook and corner to find out if there is even a single similar or near similar patent. This survey is of utmost importance and should be done diligently in order to avoid future lawsuits.
If you come across the slightest similarity, it will be better to make alterations or minor modifications in your product or invention to make it different from others. This by any way doesn’t mean that you have to change your product altogether. The ultimate requirement is to prove that your product is unique in its field and the first to come. Once you reach this target point, get it patented after raising funds.
Now that you have found your invention or product is the first to appear in its field, you need funds to research and develop your product further. For majority of investors this is a big hindrance as it is hard to find investors ready to fund. Much before creating a prototype or setting up a manufacturing team, it is crucial to build a substantial funding.
Inventors often manage to gather funds for their products through crowdsourcing without sharing the profit or their product. But this is somehow a risky venture and should be avoided till an invention or product is patented. A person having more money can easily steal your idea and patent it!
Analyze your Market
Each market has their distinctive set of individuals who will show interest in your ideas more than others. This part has to be accomplished proactively by you. Try to figure it out if the companies or manufacturers are interested in developing and selling your products. A sound understanding of the market is necessary for your product to popularize.
To market any product a prototype is necessary. Once you develop an idea it is important to build a prototype. The first and foremost step is to patent your idea (to be more specific invention as ideas cannot be patented). Your product carries immense potential and must not be spoken publicly until and unless patented, the reason being that any patent office works on first to file basis. This means your invention is vulnerable and anybody can steal your idea and file a patent before you. A working prototype will help you begin with the marketing process.
Once you successfully obtain a patent, time comes for proper advertising and marketing of your product. Eventually you will succeed. Simultaneously, you should remain under the guidance of a patent attorney who will be able to safeguard you patent from patent trolls. You may still have to time to correct it through patent reform but it’s better to protect from the beginning.