You’ve come up with an idea that’s great, will solve a problem for a lot of people and– you believe– will make you rich. Now, it’s time to bring that idea to life; but, how do you do it? You’ve got a few options to consider. First, you can start your own company, manufacture yourself … Continue reading Deciding to License, Manufacture or Both
Prototype. Proof of concept. Production. Pilot. What does it all mean? Before having a full-blown product, there’s a process you have to go through to make sure your technical and functional aspects actually work and that there’s even a general interest in your product. The ideal path to help mitigate risk, refine the scope and cut … Continue reading The Inventor’s Process to Production
An ODM, or original design manufacturer, is a company that designs and manufactures a product that is eventually re-branded and sold by a different company. This model is frequently used in international trade. A local ODM will produce goods for a foreign company; this choice is usually made in response to some kind of advantage, … Continue reading ODM Manufacturing: Do You Know What it Is?
In a traditional sense, the original equipment manufacturer, or OEM, is a broad term used to describe the web of relationships that go into manufacturing. It’s a company whose goods are used as components in the products of another company, which then sells the finished item to users. The company purchasing from the OEM is … Continue reading Understanding the Web of OEM Relationships
Looking for funding to get your invention off the ground can be a tough process; so, why make it any tougher on yourself? It’s not always financially feasible for inventors to fund the entire process themselves– outside funds can be critical for development. Angel investors are an option, but they can be difficult to get … Continue reading Approaching Venture Capital Firms: 5 White Lies to Avoid
Licensing an invention is about profiting while minimizing the personal risk and commitment. While there is less risk for the inventor, there are a few trade-offs you make when you decide to license. 1. You’ll Only Receive Royalties In exchange for the rights to produce your intellectual property, the licensee will pay you a share … Continue reading 4 Trade-Offs You Make by Licensing
Raising funds is a great accomplishment for any inventor, but it can be taken too far. Like all elements of life, too much of a good thing is a bad thing. 1. It Will Keep You From Running Lean When you start out inventing, you have to be very creative to get your company off … Continue reading 4 Risks of Too Much Money Too Soon
When you’re applying for a patent, there’s two main types you should be familiar with: a utility patent and a design patent. Determining which patent applies to your invention can be confusing but it’s a crucial part to receiving adequate protection for your ideas and inventions. While a utility patent is by far the most … Continue reading Utility Patent or Design Patent?
So– you’ve got a great idea, you think it can develop into a useful product and you feel like the market is ready for you to share. You’ve possibly even imagined a catchy name and packaging to go along with your new idea. But are you really ready? There’s more than meets the eye when … Continue reading 4 Questions to Keep in Mind While Inventing
This article originally appeared in Inventor’s Digest on September 12, 2017 as “The Keys of Prototyping“. The key value in prototyping to the best of your ability– meaning where it looks, feels and operates as close to what you would release into the market– is very important when planning to visit investors, manufacturers or licensing … Continue reading The Value of Prototyping
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