Basic guidance on the key stages of turning an invention into a commercial product.
The purpose of this Inventors' Handbook is to provide you with basic guidance on all the key stages of turning an invention into a commercial product.
Disclosure and confidentiality
Know the important difference between protecting your idea against disclosure and protecting your idea against infringement.
Novelty and prior art
At least one significant part of your invention's technology must be completely new. Search for prior art to make sure that this novel aspect of your idea has never been described, or used for the same purpose before.
Competition and market potential
Does your idea have good commercial potential? Find out about your competition and the market potential of your idea.
Assessing the risk ahead
Ask yourself the vital question: "Is there enough evidence to justify taking my idea any further?"
Proving the invention
Prototypes are necessary. Plan and control your prototyping activities so that you can prove your invention.
Protecting your idea
At some point you must legally protect your intellectual property (IP). Make sure you know your intellectual property rights (IPR).
Building a team and seeking funding
To convince others that your invention is a business opportunity with excellent investment potential you may need a team that demonstrates a range of skills.
A business plan is essential for transforming an invention into a commercial product. It will help you and your team to plan and stay in control of your exploitation activities.
Finding and approaching companies
Finding the right companies to approach, and approaching them the right way, is important if you want a licensing agreement with a company.
Dealing with companies
Research and know your market well in order to deal effectively with a company interested in your idea.
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