I have an idea for a new kind of (orthopedic, not dental), brace. How do I bankroll--patent---and market it?

Question

Funny, I got the idea from a sci-fi movie, of all places!

Answer 1

The first thing you will want to do is look into the patentability of the idea.

A) start writing down what is unique or different about how your device works. These form the basis of the 'claims' of your patent and will be the key to determining if the idea is novel and non-obvious.

B) have a patent search performed. You can actually start this yourself at some of the on-line databases to get an idea of what other devices are out there. To have the complete patent work done you will need to contact a lawyer that specializes in patent work (a Patent Attorney). There should be several in any large city near you. Ask for references and select one that you feel comforable working with.

You are basically going to need to bankroll the above portion of this because it is unlikely that an investor (other than a friend or family member) will invest in an idea that may not work or already be patented.

Once you've got an idea that the design is patentable, you can then start looking for investors to help finance the patent and development of the product. At this point you will want to develop a business plan and start figuring out how much it will cost and how long it will take to get the product to market, what is the expected market size and revenue you will generate.

Other general comments about the process:
The sooner you can build a prototype the better, it always helps to tell your 'story' with a prop.
There are millions upon millions of ideas that are already patented but never get developed, so don't be suprised if your idea is already patented.
There are 'patent' shops that will promise to help you patent your device for a low price. I've heard mixed reviews of these services where they may not be as helpful as one would expect and they may ask for a large percentage of any future proceeds or even 'steal' the idea. So be careful with those services.

Good Luck!!!

Answer 2

The first step is to investigate what FDA requirements must be met before you can market it.

Answer 3

make one first