Patenting an invention is something thousands of Americans do every year. The reality is that only a very small percentage of them ever make it to the marketplace. So how do you go about getting your idea sold? An invention takes passion, inspiration and creativity. A successful invention might take a thick skin, but it shouldn't take a thick wallet. Here are two inventors and the owner of the original As Seen on TV Company, A.J. Khubani. In this video they will share their secrets about what it takes to give your invention a better chance of success - without getting taken.
Summary of the Video
Inventing the product is the easiest part. Khubani from the original As Seen on TV Co - "Telebrands" says...
We look at hundreds of ideas on an annual basis. We select very few that we actually want to take to market.
Khubani may just be the king of invention marketing. He claims his company, Telebrands, has had the most hit products in the history of the infomercial. His [tags]patent- your-invention[/tags] advice to new inventors is...
Don't try to get a patent right away because of the fact that he majority of inventions are never commercially successful. It could end up costing a lot of money, if an inventor were to go and get a patent for every single one of these inventions. There would be a huge investment before they actually get some return on that investment.
The inventor of the Go Duster says that inventors are very passionate about their product and want to see it do well. Joann Bradvica, the inventor of the Ear Lift says that the fact that you're so passionate about your product makes you vulnerable to being ripped off. She mentions that along the way she could have been taken.
I've had numerous calls in the last few years where a company wants to take my product to market, but then they'll ask for some type of support, You know, they'll ask for a fee, a large fee. And so as soon I hear that, I always say, "Thank you, but I'm not interested."
- You should never pay any fees up front.
- Don't go out and get a full patent right away. Get a provisional patent first which costs much less.
- To avoid being ripped off or have someone steal your idea - Any company that you show your product to, have everyone sign a non-disclosure agreement, a non-compete agreement, before they show you're invention to anyone.
Khubani also mentions that having a unique product idea is not enough for your invention to sell. It also needs to...
- Solve a common problem
- Have broad-based appeal
- Not be readily available in the market
- Needs to be easy to demonstrate on TV
Further Resources on How to Patent an Invention
I looked on the abc7.com link that was shown at the end of the video and tried to find additional information for inventors. All that came up were some ads. I found a good resource here at About.com on How I Learned to Become a Successful Inventor. This guy Ronald Riley is someone who has gone through the whole process and is knowledgeable about it.
Patenting an invention and becoming a successful inventor can be tough, but it is doable. I guess the bottom line is that the process is a bit more complicated than just coming up with an idea. You ultimately have to know how to turn those ideas into a working product and have some idea of how to protect your intellectual property. By the way, I'll be putting more newsworthy information including stuff on patents and inventions in my brand new As Seen on TV news area of my blog.