Invention: The 99% perspiration part

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Invention: The 99% perspiration part

As Thomas A. Edison is known, “the invention is 1% inspiration and 99% perspiration.” Today we talk about the part of perspiration.

This step of the invention is generally at the bottom of the invention process in the minds of most inventors, but it should really be closer to the front. What are you going to do when you get your patent? How is your invention made? Who wants it? Can you sell? What about a license? These questions should be answered, at least partially, even before the patent process begins and you’ll find the answers at¬†

You need help if you do not know the answers to the previous questions or if you do not know where to start looking for the answers. This is where the perspiration part begins. Huge amount of research: test your idea to see if ordinary people are interested in your product and get a good idea of the cost that the public might be willing to pay for your new contraption, compared to the cost of doing so, are some of the the roads to travel well to develop your idea.

The invention aid comes in two basic packages. First of all, if you have a business mind and an entrepreneurial personality, you may want to build your own company to manufacture and sell your invention yourself. If you have the right talents, persistence and lots of optimism, and if you have the ability to persuade other people to see the images in your mind, you could do it this way.

Second, if invention helps you to want is simply someone who buys or licenses your invention, you may not need all the entrepreneurial spirit required previously. Just remember, in any way, you always have to persuade others to see your vision.

All this supposes, of course, that you are like most people, and you are looking for $ millions of your fantastic idea. If you are part of the small minority that only wants a piece of paper to frame and put on the wall, go for it. Get the help of your inventor from a patent attorney: get your patent, hang it on the wall and continue.

Inventive aid in the form of money from investors to support their habit of invention, sometimes even from family and friends, almost certainly requires the development of a business plan. A business plan should be considered a necessity for proper development and financing. And to do it properly you can read this great article

It is necessary to conduct an investigation to answer the questions that, without a doubt, any potential investor will formulate: What is your invention (product)?

Who wants it and why (demographic data of the buying public)?
Where and how will they obtain it (marketing and distribution)?
How much money is needed and specifically for what (product development, manufacturing, marketing, distribution, commercial management costs)?
How much does the investor earn and when does he recover his money (return on potential investment (“ROI”) and return term)?

As you can see, a lot of planning and speculation is needed to get invention help. The figures, in most cases, will be what they call “pro forma”, because generally there is no real business in operation to make your new product. BUT – all the information provided and the figures presented must have some basis in reality.

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