New poster here, not a mech eng. I have an invention/idea related to bicycling. I haven't drafted it out or built a prototype because I don't even know what to do with it once I do that. I know there is a demand for my idea because I want it and a lot of other cyclists do, too. But nobody is making anything like that now. What can I do to produce my invention and bring it to market?
Hi, Every invention starts with an idea. Build a prototype or two & test it in the field. If after a while you have positive feedback & good sales, then begin to look for investors who can really bring your invention to the market. It's kind of like the American show - Shark Tank..... If the Sharks (inventors) really like your idea or invention, they will gladly invest. If not .... Well, you know what happens...
Hi, We are in the business of helping start-ups to develop and build prototypes. You'll find that if you was to "peddle" (sorry!) your idea around the banks / VCs for development funding then a prototype / proof-of-concept model will be absolutely invaluable. The down-side is that you will likely need some money to do this (unless you do it yourself), so its time to speculate. In order to get any kind of investment you will need to do your homework and generate a rock-solid business case. For this you'll have to generate some data on the size of the market, the selling price, the development costs (one time costs) and the manufacturing cost amongst other things. Understanding the market and evaluating the size of the opportunity is likely to be your biggest hurdle. I hope this helps, John.
You should also speak to a Chartered Patent Attorney before using your prototype in public or disclosing the idea to others. At the very least you should ensure a confidentiality agreement is in place with anyone you disclose the invention to (although a patent application offers far, far better protection). I am a Chartered Patent Attorney and just wanted to point this out to avoid you kissing goodbye to any rights to stop someone copying your ideas. It is also worth mentioning that most patent attorneys will offer some free initial advice.
I have a client who operates in the bike industry. If your idea does not relate to aspects of the bike frame, but some other part of the bike, I would be happy to give you some free initial IP advice, and, if you wish, introduce you to my client. Best wishes Matthew Allen European Patent Attorney
Contrary to what a lot of people might say, there are some very very inexpensive ways to protect yourself, and this can often be done for free!! 1. NDA is easy to download 2. Post the details to yourself via 'recorded delivery' 3. A "Patent Application" is not the same as a Patent! Its free!! And you can even write this yourself if you are willing. Alternatively you can use a patent agent, but you should make sure that you are fully informed first. Some, but not all laywers like to enourage you to spend money... I once knew a guy who spend £20,000 on patents he did not need. Yes... His wife lift him!! So understanding IP is your 1st step. And do not tell anyone about it until you have a NDA in place. I am updating information in more detail regarding developing new products and inventions on my blog (see my signature), and there is a lot to learn. You should undertake this research seriously and carefully, as this is a hard thing to achieve, and if its a goer, then people will certainly be trying to make a buck out of you!!
Posting a letter to yourself by recorded delivery is certainly better than doing nothing. It can help to prove you have posted something on a particular date, but it is far from conclusive in proving just what is inside the envelope (i.e. just what has been invented). It is preferable in my opinion, but by no means perfect, to email details in an attachment. You can then prove both 1. the date of transmission and 2. the content. Consider copying in one or more reliable third parties, if you can. By all means send a confirmation copy by recorded delivery. And with regard to drafting your own patent application, please only do so if you understand how to draft claims, and understand the repercussions of not correctly defining the scope of the claims at the outset, which is probably the number one mistake.
APE, I'm a mech. eng and focus on product development (making prototypes, testing, manufacturing, finding $$$). If you want some advice, contact me. I will, of course, sign a non-disclosure agreement. I'm also a huge biker... and very knowledgable about the sport. JN
