should I give out a product idea to a company if they seem interested so far?

Question

I'm in the process of getting 3 patents and want to sell them to a technology company when they're done, but I also want to make money fast. I've sent emails and letters to about 5 or 6 companies and the only one that responded and seemed really interested and able to work with me on it was Creative Labs (the website's us.creative.com if you need to see a product.) The thing is they're saying their R and D is very busy at the moment, and will contact later if they are interested. Should I basically tell them one of my ideas and say they can only use it if they have my permission and if I work with them on it? Or should I just keep waiting and sending emails to them until they reply again? This idea could really help them out, but I'm naturally greedy ( :( ), so I need a way to get it to them without them stealing the idea. Are they legally allowed to use it without my permission before I patent it? and if anyone's ever had experience with this, please contact me or just answer. thnx.

I'm actually only 13, so I don't have the power or the knowledge to really know the exact way my ideas would work. That's basically why I'm not just marketing the products myself.

Answer 1

If you're working on getting a patent, wait until you do before sharing that idea. Then you will be protected by the patent.

Without a working knowledge of patent and invention laws or ethics I have a hard time giving advice. However, if I were in your shoes here's what I'd do:

Document your idea in as specific detail as you can. I would make a hard copy (printed paper) and soft copy (PDF or DOC on CD). Make sure they are dated! Put them in a safety deposit box.

You can also seal them and mail them to yourself so you have the date on a post-mark. If your documents are electronic, you can find a file storage place (even use Yahoo!'s briefcase) and save the file there. This will give you another date stamp.

If you share your idea with Creative Labs , document ALL your conversations (record phone calls - make sure to state the date, "Hey Bill, it's me. It's about 4:00pm on November 8th, 2006", save e-mail communication).

That way if you feel they've stolen your idea you can prove that you had the idea first (hence the date stamps) and that you shared the idea with the company (hence the communication tracking).

As far as sharing info with the company, I would stay vague. Tell them your idea, and show them that it works, but don't show them the inner workings. That way they can see enough of your idea to know it's a good one, but not enough to do it themselves. That way they'll have to sign an agreement with you.

Once you get to agreement time, you'll definately need to find a lawyer to review the legal docs.

Good luck.

Answer 2

This is just a caution for you to be really careful, and contact a patent attorney. I gave an idea to a company prematurely and they came out with the product --- nuts to me! Find all ways possible to protect yourself, and be patient.

Answer 3

in case you tell them about your idea while not having a patent for your idea and a non-disclosure contract, you've really placed your idea on the 'public area' that can make it unpatentable and delivers them the right to apply it at will. you may want to screw your self up two times. Get a patent then and easily then seek for organizations to commercialize it.

Answer 4

You should only tell them the idea after they have signed a non-disclosure agreement. Do you have a lawyer who can help you? You should have one. The non-disclosure agreement will help prevent them from stealing your idea.