selling an idea, can it be done?

Doom

Hi,

I often come up with ideas to make products better...I could never develop them myself, the money required would be massive, can you patent or similar an idea and sell it on to a main manufacturer?

jimmii

You can indeed and thats what a lot of people do. Here is a link to the basic patent office fees it would normally work out a good bit more than the basic though:

http://www.patentsoffice.ie/en/patents_fees.aspx

Buttercake

yep patent is pretty much the only way you can "sell" your idea

Patent search by a firm is about €800 and filing an irish patent is about €1,700. EU patent is about €5,000.

lucky john

Just a couple of things you should be aware off before you spend any money on patents.
Patents are expensive and you will have to pay upfront for them before you approach the company whoes product you can improve. They may have no interest in your idea so your only market is gone. There would be a few reasons for their lack of interest.

Most companies that have a successful product on the market will have an in house design team working on R and D. About 20% of the add on benefits they come up with will be used. The other 80% will be disgarded for various reasons but generally on a cost, benefit analysis.

Owning a patent is one thing, defending it is another. The company you target may like your idea but just ignore your patent. The onus will be on you to law them and defend your right. You will need deep pockets if this happens. You may find they just alter what you have enough to get around patent.

If you are working on an existing product you need to be sure of you searchs. The company may have a patent similar to yours but not used in the product. If they think you are infringing their patent they may go after you. There's a lady in the Midlands here that blogs and bakes cakes. She has a tiny business and called it "Lady Agga". In no time after set up she was threatened by lady gaga's solicitors for brand infringement and had to change her name.

I'm not trying to dash your hopes of making millions but just be aware of the down side as well as the up.

SeanSouth

I think you have to be a bit realistic about this. You're going along in your car and a $2 million dollar idea jumps into your head. You rush down to the patent office to get it registered and you then put it up for sale and drive off into the sunset in your new Ferrari. The world rarely works like that. I think you will need to develop the idea and nurse it along until it is investment ready.

I think you'd be better off approaching "the customer" at an early stage. Ask them to sign some level of non-disclosure agreement in advance and then explain the idea to them. You might end up with some cash in your pocket but probably not millions

Doom

Damn...it was gonna be call "Facekindle" the next "Facebook"..oh well









Joke

Buttercake

Besides the patent hoops and hurdles, I wouldn't let it spoil the passion for your idea if you think its going to be big,

Is there no way you can start it small or prototype it? or get in with someone to explore the idea further?

theres always a way