I have an idea for a product and have gone to Davidson Inc. with my idea and they have sent me a contract outlining what they will do with my idea. They will research it, find companies who may license it, then put together a portifolio, and let me decide if I want them to create a prototype for actual presentation. The catch is, it's about $700 for the research and portfolio, then potentially up to 15K for creation of a prototype with which to take to companies for them to consider. I think my idea is a good one, I know of nothing like it on the market, and I believe in it's marketability. (esp. compared to some of the crap out there in stores) What I want to know is if any one has experience with this company, and feedback. Does anyone know of the cheapest way to promote an idea or product. I can't make one. I could draw a picture with a written description. I was advised to not get a patent right away, as the product itself may require revision.
2006-06-28 06:30:30 · 4 answers · asked by scheiem 3 in Business & Finance ➔ Other - Business & Finance
The final product would then get the patent. I know to get a patent is a complicated process. There are other companies out there that will take a patented idea and work with it, only if they like the idea though. I told my contact at Davidson that I would talk with him again on Friday regarding my decision. I need some good business advice.
2006-06-28 06:32:24 · update #1
Unless you have the knowledge or resources to make a prototype yourself, your going to need a company to help you. However like the previous poster said if they are the ones that advised you not to get a patent then i'd be very wary. There are reputable companies that do deal in this but I couldn't tell you who. You could go with the private investors but again unless you can make it, or know someone who can what good will that money do?
2006-06-28 06:55:20 · answer #1 · answered by Rick61977 2 · 1⤊ 0⤋
I do not have experience with this particular company, but in general.....run away. Do not walk. If you have a good idea, they'll steal it. (They're telling you not to patent it, right?) If your idea isn't so hot, they will take your (up to) $15,700 or more, and won't do anything for you. As for what to do instead, unfortunately, it depends on your particular idea/product and its marketplace.
2006-06-28 06:50:32 · answer #2 · answered by Allen 3 · 0⤊ 0⤋
rather than giving away cash....find some people with cash who want to invest w you.....15 people w 1000 each could work. give them each1% of the company, and if it makes it they will be very happy. Let them decide upon the risk/reward.
2006-06-28 06:38:02 · answer #3 · answered by tsbr1963 6 · 0⤊ 0⤋
ladado
2006-06-28 06:33:24 · answer #4 · answered by bubbles 1 · 0⤊ 0⤋