Inventions for sale

All you need to know about inventions for sale

The invention is the result of effort and intelligence of an inventor. A question may arise in your curious minds that “how to these inventors make money out of it?” If you are an inventor yourself you are seeking for the ways to use your invention as a source of income. Of course, a successful invention will become your source of income. You can make your own business with your invention and if you are not confident of this option there is the second option for you. You may sell your invention or you may say the idea of the successful invention to any company willing to buy. The second way is very popular in recent times. In this article, we will discuss the topic of inventions for sale.

What does an invention for sale mean?

You can sell your invention to other company in case you are not in a state of making business. This company will make your invention marketable and in return, you will be paid a good amount of money. The company buying your idea of the invention will require the protection of a patent. The patent on the invention in your name will ensure that no other person gets to sell your idea of the invention.

In the following discussion, we will know about how to sell your invention and the procedure involved.

Understanding market demand and acceptance of the product:

Before you proceed with your plan for selling your idea of the invention, you should start some research work. Do some research about the demands in the contemporary market. It also requires testing amongst a group of known people who will give you honest feedback. This will give you a clear idea of the acceptance of your product. Also, ensure that your product will be the best of its kind in the market.

Ensure the patentability of your invention:

Your invention should be qualified for the grant of a patent from the USPTO. There should be no same invention same as yours which has been granted a patent previously. All the legal works required for the application for the grant of a patent are to comply with and preferably with the help of a registered patent agent.

The process of producing the invention:

The process of production of the invention should be documented for the investors. If in the process of production of the invention any unique or uncommon raw material is required, the details of the same should be provided by you.

Professional presentation for the investors:

This part is very important in the whole process of selling your invention. Prepare a presentation of your invention for the licensors whom you will approach for sale of your invention. this presentation should be brief but should be explaining all the dimensions of your invention including its benefits and key features. The process of production and materials required for such should also be mentioned in the presentation. If you have already received a patent on your invention provide adequate documents required to prove the same. If the application is in patent pending status that should also be mentioned in the presentation. You should never keep the investor or licensor in darkness by not disclosing any drawbacks of the product. You should give them a clear idea of the demand of such product in the market which you have come to know after extensive research.

Find out and approach the suitable company for your production:

When you are done with your preparation to sell the invention it is time to get in touch with investors. This too requires some market research. Make a list of a good number of investors out of many companies in the market who may be interested to buy your invention. it is easy to say but not so easy to do. So better understand the category in which your invention falls. After you have sorted out, look for those companies which are having businesses of the same category.

Not always big companies are the only option available. Sometimes smaller companies in areas where such products are not so popular or not very known may be beneficial. Such companies may make more business with your invention in unexplored areas. So choose the buyer wisely for better returns while selling your invention. This will ensure better returns from your invention.

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Decide the payment procedure and scale of it:

When you place your quote do not make it unrealistic. The payment should be done in three steps which are hereunder explained.

  • The first payment should be done at the beginning much before the procedure for sale even begin. This payment is like an advance against the royalty but popularly termed as an up-front payment. the amount of upfront payment varies and can be decided on the consensus of both the licensor and licensee.
  • Royalty is calculated on the basis of the annual sale of your product. You may claim within a range of 2-5% as royalty.
  • To ensure your benefit you should ask for an annual minimum. This will ensure you get a fixed amount of royalty apart from the royalty from the sale. With this, you will never be at a loss even if sales are down.

You have to earn from your invention for a longer period of time, so the scale should be kept pleasing both the licensor and your aim. So do not fall prey to lucrative deals which will give you money but for a short span of time. Decide wisely while selling your invention. Hope this article will help you to know everything about inventions for sale.

Patent Application Preparation, Filing and Prosecution basics for Inventors

Patent Application Preparation

As an Inventor you need to be aware of some of the basics or components of preparing, filing, and prosecution procedures for a Patent Application.

Some of the components and related language of Patent Application are:
• Patent Specifications, patent drawings,
• The Filing Date,
• The Claims,
• The Priority claim,
• Patent Security recommendations,
• Patent Publication,
• Patent Pending,
• Patentable Subject matter.

The Patent Claims can be described as the most important part of the Patent, it describes what is new and original in the invention for which patent is being applied for, the patent claims also clearly states the scope under which a patent will be protected. Patent specification normally contains the details of the background and general overview of what an Invention is all about, it may contain figures, and data to back up claims or explain the invention, as well as an abstract and summary of the invention procedures, techniques and systems.

Different countries patent offices have different requirements in regards to Inventors’ Patent specifications and prosecution. It is advisable to get familiar with your country specific requirement to avoid any delay in patent processing.
The claims of a patent specification generally define the scope of protection offered on a patent. This is the legal description of an invention and it is one of the most important components that can speed up your patent application. Inventors use their claims to set out the component that can infringe the patent.

The claims made by an inventor can have some other dependent claims that can narrow down the protection of patents by defining other specific features of the invention.
The filing date of your patent application is the rule that sets up a cut-off period after which any public disclosures will not be allowed to be part of the patent filing procedure.

The rule of Patent application is that the first person to make an application for the protection of an invention will be considered as the owner of such patent, therefore it is important for inventors to note the filing date when preparing their applications.
In order to get a filing date, the regulations set out by the patent office must be carefully followed especially through the documents filed. The patent office usually notifies an applicant if the requirements for a filing date are not met. It is also possible to make any corrections on your patent application without any shift on your filing date.

Priority Claim references a situation where a Patent application claims priority from a previously filed application in order to take advantage of any information disclosed on such a previous application. Inventors can make use of the opportunity in priority claim to increase their chances of getting their inventions patented, most especially when the prior filing date reduces the number of disclosures you can make.
Security recommendations are integral part of the Patent application procedures.  Patent offices may ask inventors seeking a Patent to obtain security clearance before their application is approved or submitted. Security rules differ in different patent offices, but in most cases, all patent applications are normally reviewed and any security concerns will be communicated to the inventor applying for patent. Also, making Patent application in a country other than your home country may warrant some patent security checks.

The Patent Publication are normally made some 18 months to 24 months after the earliest priority date of the Patent application. Just before the publication date, a patent application remains confidential to the patent office, and some parts of the patent application remain confidential to the patent office even after the publication day. The publication date is the official date at which a patented invention is made available.

Patent Pending simply means a warning to a third party that is it infringing on the rights of the original inventor of an idea or invention. This warning is normally send to the infringement culprit after a patent has been awarded to the original inventor. Inventors are usually advised to label their inventions “Patent Pending” so that third parties who are not aware of the patent application will know.
The patentable subject matter is often a major issue of discuss among some concerned experts. Many have argued that the first inventor to submit a patent application on an invention may not always be the main inventor of such invention, therefore experts recommend that Patent offices will need to take some precautionary steps when awarding patent rights on some inventions , they need to consider any objection that can come from other inventors before deciding who originally owns an invention.

Protecting your inventions and getting a patent to cover it has now become easy, especially when you seek the help of professional patent attorney or Patent Agent to handle the legal procedures for you. Inventnet.com provides you a patent attorney directory where you can always refer to if you want a legal representation to protect your inventions and get your Patent application filed. Our dedication to patent rights , and application filing will guaranty your success.

Benefits of Joining an Inventor Club

Benefits of Joining an Inventor Club

There are numerous benefits of becoming a member of an inventor club and one of such is the opportunity to get a network of friends that can guide you on several ways of protecting your inventions, seek the services of a Patent attorney and also get some other kinds of local, or International Patent Application help. Being a member of this type of association is voluntary and in most cases you will have to make some regular payment or contributions for your membership. Becoming a member of an Inventor club will greatly help beginners who are filing for patent on inventions for the first time.

There are some inventor clubs that provide some forms of learning forums for both young and old inventors as well as entrepreneurs. The idea behind an Inventor club is to protect a new idea, new technology as well as the individual behind such innovations from Intellectual Property thefts. Inventor clubs see their members as resources and not just ordinary people, therefore they do everything to protect their inventions.

Aside from being an inventor, most Inventor clubs are also open to anyone who wants to initiate the process of inventing something new and that which will benefit the general public.  Inventors groups or association also organize periodic competitions and an opportunity to join field trips where members are exposed to diverse innovations within their fields.

Another benefit you may derive from being a member of an inventor club is that you gain more ideas in terms of the technical and business aspect of your invention. You might have a great scientific invention for instance but you may not have the commercialization idea and how to replicate the idea into a money making opportunity. Aside getting the help on commercializing your inventions, becoming a member of an invention club will also will also help you acquire skills on how the product development procedures for your invention evolves, this will include how you can conduct research , evaluation, funding, engineering, prototyping, design and many other components of invention that you don’t have high skills of using.

With a membership of an innovation club, you will receive constant guides on how you can get financing in making your inventions become a bigger project, and you will have more knowledge of handling issues such as licensing as well as challenging issues like marketing and distribution of your invention. You need to keep in mind that as an inventor, some challenges will develop as you try to expand you invention into a bigger project and this is one of the issues that an ideal inventor club will try and assist you in dealing with.

With an invention club, it often becomes easier to find a manufacturer who will license your patent, this is a huge advantage especially when you don’t have the financial strength to commercialize your invention and you already to share the responsibilities with a manufacturer who has a view of the potential success your product will generate.

With a reputable invention club, you will have opportunities to meet regional and international inventors who will enlighten you about their journeys through different phases of their inventions- these include; technology transfers, entrepreneurship, and intellectual property protection among several others. You will learn the Do’s and don’ts of presenting a new invention and getting patents for such, and they will recommend some of the steps they followed from their wealth of experience, therefore you wouldn’t have to make the same mistakes they made.
Different inventors clubs have different criteria for selecting new members into their groups; there are however some criteria that seem to be general and applicable to all of them.

How to join an inventor club

To join an invention club, you must;

• You may be interested in developing your ideas into inventions and enjoy the company of like minded and some time more experienced inventors.

• Some may have an invention that is new that have been submitted for patent or you are initiating the process of applying for patent,

• Or even having inventions that are commercially viable and capable of out-performing other similar products or inventions in the market.
In most cases, a preliminary confidential evaluation of your invention will be done in person and you will get an opinion from other members or from a patent attorney to make sure all other requirements are met. Some invention clubs provide you with free advice or services saving you money in your steps towards patent prosecution or commercializing your invention.

• You can also join our online Inventors Network (InventNet.com) and ask your questions or share your thoughts and experiences

When it comes to finding a reputable patent Attorney for your patent application , you need to consider the best and one of such are listed at  Inventnet.com, in our Patent Attorney directory where you can quickly locate an attorney to help you file your patent application easily and correctly.

Basics of Patent Application

Most independent Inventors are confused about revealing their inventions to potential manufacturers or third party partners without the risk of such people stealing their inventions. Luckily there are several Patent Application agents that offer legal services to inventors who want to follow the authorized procedures when disclosing their inventions.
Few inventors will rely on trust especially when disclosing their new inventions, but with a credible agency, there is no need to worry about such issues. New Inventors also need to be aware of the recent patent law revisions that state that, any public sale or disclosure prior to filing a patent application will seriously reduce your chances of getting approval for patent application. Apart from the revisions in Patent rules, new Inventors should be aware of some Patent basics.
Patent Application can be referred to as a “Patent pending” at a Patent office for the purpose of acquiring a patent for a genuine invention that has been described and claimed by the Applicant. The application for a Patent is supported by application forms as well as Patent specification {a description of the invention}.
The application for a patent is usually supported by some correspondence that relate closely to the Invention. In order to receive a grant of patent on an original invention, the applicant must file an application at a regional Patent office and the office examines all supporting documents before granting a patent in a specified Geographical region.
Patent Prosecution is normally one of the procedures for Patent application and it is the process of arguing or negotiating and interacting with the patent office before the patent is granted. Patent Defense is quite different from Patent prosecution; Patent defense involves some legal proceedings on any third party claiming infringement on a patented invention.
There are different types of Patent application and depending on the office where your application is filed; you may get a National, Regional or International Patent. There are also four different types of applications for patent, these are;
• Standard Application,
•Provisional application,
•Continuation application, and
• Divisional application.
A Standard Application can be described as a type of Patent application that normally involves all the necessary parts of the application; these parts include claims and written descriptions of the Invention. All the necessary parts of this application are needed before a Patent can be granted. An applicant for this type of patent may or may not be successful; it all depends on findings from preliminary observations or examinations by the Patent office. A standard application for patent is also referred to as the “Non Provisional application”.
Provisional patent Application is a type of application that can be filed at any patent office, it allows the applicant place an application on file, and obtain a filing date. Provisional application for patent is often less time consuming than Standard applications because some of the complexities in standard applications can be avoid here. The disclosure for provisional application for patient is normally within 1 year and it can be incorporated into a standard application. You need to renew a provisional application for patent because it expires normally after 1 year.
Continuation Patent Application is an application that can be filed as a continuation of a previously filed application. This type of application is quite convenient especially if you want include more materials when the priority year has expired. This type of application can be a refinement of your previous application for patent; therefore it can be a continuation patent, or a continuation-in-part patent application.
Divisional Patent application is a type of application that has been divided from a previous application. This application simply is made when a component of an invention needs to be patented separately by the inventor. A divisional application can only be filed on a single subject matter that has been separated from its parent invention. Though a subject matter may be awarded a divisional patent, it will still retain the filing and priority date of the Patented Parent. Divisional patent is the most suitable for individuals who make new inventions out of a single primary invention.
Depending on the type of Patent application you filed, you might get a Regional, National or International Patent grant. The Regional grant gives you a patent over an invention within your locality or region, this simply means, your patent right confines your invention within the specified area. The National Patent right gives you the right to own your invention all over your country while the International Patent right gives you the right to own your invention all over the world {or in some other countries specified}.
The best possible way to simplify your Patent application procedure is to get the services of a Patent Attorney and this is why Inventnet is right there to help you protect your Interest. You can quickly locate an Attorney on our website- inventnet.com by searching our Patent Attorney directory. We have helped thousands of other inventors like you, let Us help you too!