What advice can you give to someone who has a [great] invention idea but no money to act on it? I've heard those "inventor's assessors" are just out to scam people. Any ideas will be appreciated :-)
2007-01-22 16:53:13 · 6 answers · asked by Thunder 3 in Business & Finance ➔ Other - Business & Finance
If you go the route of investors or partner companies, etc, be sure and have your lawyer write up confidentiality agreements for those potential partners. Patent or not, you are the small fry, and they are the big guys- without an agreement, if your idea is really good, they can proceed without you and fight you in court. They probably have more legal resources... Be careful. Good luck!
2007-01-22 18:40:18 · answer #1 · answered by morlock825 4 · 0⤊ 0⤋
Yeah... the "have an idea?" commercials will bend you over and royally screw you. The best thing to do is get a patent for your item. You can find out how to file for a patent online. After that, you can try to get a personal or business loan from a local bank to start a company to manufacture and distribute your invention. If you plan on going nationwide, you'll need a lot of funding which would involve venture capitalists. These are basically investors looking for solid businesses to invest in that will grow quickly so they can turn a good profit. Before you go to the venture capitalists, try to see if you can make it work yourself. Otherwise.. prepare a business plan and start the capital-hunt.
2007-01-23 01:07:02 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Definately get good legal advice and that patent. I'm dealing with intellectual property theft right now. Josh was right about those infomercials touting new invention to market companies. Stay away. However I must also warn you about "vulture" (sic, venture) capitalists. You need very good legal and accounting advice here...and count your fingers to make sure you have them all after shaking hands. They can smell blood better than sharks and if you are not careful you'll get to say you invented "such and such" while they walk away with all the money. There is supposed to be a category of venture capitalists called "angels" who are more altruistic, hopefully you might find one. Best wishes for massive success!
2007-01-30 16:29:44 · answer #3 · answered by fenhongjiatu1 3 · 0⤊ 0⤋
You need to get in contact with a patent attorney. they will walk you through the steps.
2007-01-23 01:51:06 · answer #4 · answered by osu_otter 2 · 0⤊ 0⤋
You should find rich people and convince them and they might invest the money for some or alot %
2007-01-28 05:17:19 · answer #5 · answered by Anonymous · 0⤊ 0⤋
call your states attorney for advice
2007-01-30 13:58:55 · answer #6 · answered by ralph_ralph2001 1 · 0⤊ 0⤋