I have a great gadget idea no one has thought of! How do I....?

Question

How do I approach one of the big companies such as Sony, HP, etc to sell my idea to them? Should I get it patented first? Should the company sign a non disclosure contract first? Would appreciate your help!

Answer 1

You should get it patented, and if you are not experienced in writing up a patent, you would want to hire a patent attorney. Sometimes when you have a good idea and you share it with big companies, if they like it, they may try to get around the patent by changing something slightly, so they can use it without involving you. Or, you may have someone invest in the project, but be careful because in many cases, investors will find an inventor, start a company, and even take it public, but if you are not the CEO of the company (which you probably wont be if you have no business experience) you could potentially be fired if for any reason the board members don't feel they need you anymore, (and even then, CEO's get fired too) and they may continue using your patented technology as if they invented it, knowing that you cant afford to sue them. But maybe you can afford it. Even then, be prepared that being an inventor is not an easy lifestyle, because you are always dependent on useless MBAs and other business stiffs who could care less about creative genius. When potential business deals arise, be very strict with the negotiations. Make sure that you will recieve proper royalties, stock options, etc. And don't agree to a deal without speaking to a good experienced lawyer. Shop around for potential business deals, and choose wisely. And yes, have companies sign a non-disclosure contract. It may be your best bet to sell your patented technology to a company and walk away, but there is less money in that, and it's not a consistent income. To make a career out of it, you have to invent things all the time, and successfully sell your inventions. But you will likely run into fewer problems if you take this route. Even so, your patents should be extremely detailed and strict. The big guys do not care about the little guys. If you are not already rich and powerful, those who are might crush you like a bug.

Answer 2

Consider getting it patented, even with a provisional patent.
Get a lawyer who specializes in patents and patent licensing to help you with your patent. There are good ones and not so good ones out there. You will need a good one.
There are some idea submission companies which market these ideas, contact them. They would probably love to help you with your patent (that is how they earn money).
Do a patent search. You would be surprised at what people have thought about already. Sometimes several times.
Do a little market research. Just how well would your gadget sell in the market. I don't mean just ask three friends who will politely tell you that they would buy it. Why would they buy it? What are the alternatives? Is this a must have gadget, a nice to have, a fad, or junk? (note, any of them could sell to the right market)

Now, about your expectations. Large companies often receive dozens or hundreds of fantastic ideas a year. Most of them are impounded without ever getting to an idea person. Why? So the company can proceed with its normal business without worrying that its designers and engineers were influenced by someone's idea. That way, they don't have to pay royalties.

If you do patent the idea, then you are best advised to make the patent as strong and broad as possible. If you don't, then there are a few wizards in the organizations who will carefully analyze it and figure out how to get around it. In some cases, they will simply hold the patent until it expires before they use it. In other cases, they will declare that the idea was obvious and ignore the patent. When you try to sue on it, they will point out that it was an obvious idea, or that they had alread thought of it before you did, and you will be out of luck.

One way that might work is to get your patent. Find a toll manufacturer and have the product made. Start selling it. When someone sees the huge market potential, they simply buy you out or buy it from you. If they don't see the huge market potential, you just keep your own profits.

Answer 3

Very often very large companies aren’t interested in signing non disclosure agreements with individual inventors, as they generally any contact with an individual inventor as a waste of time. To be taken serious you will at least need to show that you are serious enough about the idea that your willing to invest your own money in it (such as filing a patent application) and even then the most likely way you will successfully exploit your invention is to set up your own company and manufacture it yourself. Obviously this is dependant upon nature of your invention and it may not be practical for you to do this.
Patent costs and procedures vary from country to country but in the UK at least, you can file an initial patent application for free (if you DIY) and this will at least secure you an early priority date you can safely disclose your invention to potential licensees/buyers. You can seek guidance on patent procedure and specification drafting from national patent office websites. However, DIY specifications are invariably of poor quality and will ultimately provide little protection. You are therefore best hiring the services of a patent agent who will draft a strong patent specification which will be more resistant to attack and provide you with a stronger deterrent to potential infringers/competitor as well as greater bargaining power with possible licensees.

Answer 4

To protect an original invention OR a significant improvement to an existing product, a patent would be filed. Here's the USPTO's definition: http://www.uspto.gov/web/offices/pac/doc/general/index.html#patent

NOLO is a great, free informational site. Also, be sure to read what the USPTO (United States Patent & Trademark Office) has to say about patents.

Research, research, research – this cannot be stressed enough. Read as much as you can. Here are some book titles that are relevant:

* Patent It Yourself (11th Edition) by David Pressman
* Patents and How to Get One : A Practical Handbook by U.S. Department of Commerce
* How To Make Patent Drawings Yourself: A Patent It Yourself Companion by Jack Lo
* The Inventor's Notebook: A Patent It Yourself Companion by Fred E. Grissom

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 5

1. Get the patent.
2. Sell the patent.

Answer 6

patent it but first write it down and date the paper and maybe even take a picture of it, that way if someone else tries to patent it you can prove when you conceived the idea

Answer 7

Tell me [in private] what your idea is as i am an investment specialist. If i think your product is suitable i will help you get the item patented and produced, for a reasonable %.

Answer 8

yes , do patent your invention before you go to any of the big companies, otherwise they'll just see it and copy it, if you a patent then they'll have to buy it from you

Answer 9

patenting is unfortunately expensive (about £25 k)...

Answer 10

Two options;

1.) Tell me about your idea (I PROMISE to keep is secret and all) and I'll help you with it.

2.) BBC - The Dragons Den ;-)

Good luck