- Become informed about the product development process! Learn the steps successful inventors take to develop marketable products.
- Download our Toolkit
- Complete Toolkit forms
- Become an MIC member
- Get Ready for the next Invention & Idea Show
- Network with other inventors
- Attend other shows
- Develop your business with the help of reliable resources with counselors from the SBDC
- Create your team for success from your new network
- Learn the ten mistakes inventors make and how to avoid them
- Learn the 17 mistakes that start ups make
- Design Patents
Frequently Asked Questions
I have an idea – what do I do now?
You want to make sure you are learning how successful inventors develop marketable products. You want to become knowledgeable about the product development process. You want to make sure you are working with reliable resources and are the one making the important decisions based on knowledge, not someone else making the decisions for you.
I don’t want to manufacture my idea. I just want someone to pay me for my idea. Do you have a list of companies that will do that?
Sadly, there is no list of companies who are willing to pay you for your idea. From what we have learned, you need to be able to prove to a company that you can make them money. And that takes research.
What are the basic steps in the process?
- Idea
- Inventors Notebook
- Confidentiality
- Intellectual Property – Learn about different option (Patent, trademark, copyrights)
- Preliminary product/patent search
- Prototype/working model
- Study your competition
- Market research
- Patent decision
- What is your ultimate goal? Sell, License or Manufacture
- Get involved in an inventors group or form one in your area
- Use reliable resources: Small Business Development Center Counselors, Small Business Administration, SCORE
- Take advantage of the internet
- Be cautious about companies that ‘target’ inventors as their customers
Read about one product developers experience with invention promotion firms
Don’t let fear, greed or your ego get in the way of making good business decisions. Using basic business principles is essential.
