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Getting Started With a New Invention Idea

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When you have a new invention idea, the first step is determining how to proceed. The process includes filing for a patent, building a prototype, and deciding whether to manufacture your invention or license it. Listed below are some helpful steps that will help you get started. The next step will involve marketing your invention.

Making a business plan

A business plan for a new invention idea should include a description of how the product will be produced and marketed. It will also describe the cost of production, which should be conservative and reflect the challenges of launching a new product. It should also outline a projected pretax profit for the product. Additionally, the plan should include the cost of patenting the invention, as this will increase its value.

Filing a patent

Filing a patent for a new idea is a complicated process, and there are several steps you must take to ensure your idea is protected. First, you need to document all the important steps of your invention. You should describe it in detail, and you may also want to make a prototype. Lastly, you need to show that your invention is unique. This means that it isn't similar to previous inventions.

Creating a prototype

Creating a crude prototype of your invention idea is a great way to learn more about the premise of your invention. A crude prototype can be constructed for relatively little money and can help you understand what your invention is about. It should include a description, a list of its key features, and a drawing of the intended product.

Choosing between manufacturing and licensing an invention

When choosing between manufacturing and licensing an invention idea, there are several factors to consider. If you're looking for the most financial benefit, licensing may be the right option. Licensing your invention will ensure that you keep all rights and royalties. In addition, it will ensure that you'll avoid the need for a high level of expertise.

InventHelp

InventHelp is a great place to start if you have an invention idea but don't know where to begin. They've been helping inventors for more than 35 years and have grown their office and staff to include experts in all areas of the business. They'll help you get started and guide you throughout the entire process.

Makexyz

If you have an idea for an Invent Help but don't know how to start the process, you're not alone. There are plenty of ways to turn your idea into a reality. The USPTO is a good place to start, but you can use other patent offices, too.