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I have an idea, now what?

Postby Evilegi » Wed Sep 29, 2010 8:38 pm

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Hey, I'm a creative 19 year old who comes up with great new idea's practically every day. I'm a sophomore studying mechanical engineering but most of my idea's are software related or electrical. I've read through a few other discussions but I'd like to get advice directed towards me as I am VERY new to this.
To start, how much of an idea do I have to have to make anything of it? This may seem vague, I mean, say I thought "wouldn't it be great if___ existed?" Searching the internet no one else has come up with something similar. So now what? What if it is electronic (very basic electronic) but its not my field of expertise? I know the basic parts it would compose of but I myself can not make one without help. Or say, another one of my idea's is really great, but it would require a high level of software development. Can anyone direct me? :mrgreen: :mrgreen: :mrgreen: Thanks in advance! Oh I thought I would add in, I seem to be leaning towards selling the idea than making it myself and having others sell it. If that is how it works....

Re: I have an idea, now what?

Postby Scrupulous » Thu Sep 30, 2010 4:07 pm

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That's a good question, Evilegi.

If you came up with say, a new way to utilize your GPS coordinates, and it was well suited for an electronic device of its own, then you could simple incorporate-by-reference an existing GPS device as one of the fundamental elements of your new gizmo. That means you could just mention a typical GPS device and state that it is common knowledge now, even though a GPS device already contains thousands of lines of software code, as well as tons of circuitry.

You would mainly be concerned with the conceptual aspects of your project, without worrying too much about how to construct one, especially if you intend to just license or sell it.
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I'm Ken Campbell, a registered US patent practitioner at the Affordable Patent Service.

As a forum moderator, though, any input I provide should be considered general information, and not legal advice. The ideas I express are not necessarily the opinions of InventorSpot.com or its affiliates. In general, any action taken as a result of information, analysis, or advice from any forum members on this site is ultimately the user's responsibility.

Re: I have an idea, now what?

Postby Evilegi » Thu Sep 30, 2010 9:46 pm

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Thank you Scrupulous! So I took my idea and I know all the components that would create it, and even have one or two extra idea's that would work for it like voice automation. Aps for your ipod touch like Vlingo voice recognition would perfect for it. So now to the harder questions.

What makes an idea mine? Is being scared other people could take and reinvent my idea and sell it as their own even logical? Is there a hard copy I should have?

I read from another post that company's give 3-5% of profits to the inventor. What is a good template for starting into something like that?

-update! Wow I found a lot of what I was looking for on "From The Inventor Blog"

Re: I have an idea, now what?

Postby Scrupulous » Fri Oct 01, 2010 9:51 am

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Evilegi wrote:Thank you Scrupulous! So I took my idea and I know all the components that would create it, and even have one or two extra idea's that would work for it like voice automation. Aps for your ipod touch like Vlingo voice recognition would perfect for it. So now to the harder questions.

What makes an idea mine? Is being scared other people could take and reinvent my idea and sell it as their own even logical? Is there a hard copy I should have?

I read from another post that company's give 3-5% of profits to the inventor. What is a good template for starting into something like that?

-update! Wow I found a lot of what I was looking for on "From The Inventor Blog"


You're welcome.

You should consider what is yours the concept that you imagine, as long as you have priority to it.

Now the term "royalty" is entirely vague. If you hear someone tell you that you should expect 3-5% for any product, then you should run away very fast.

Think about what royalty means. It's a return rate from a license arrangement. The more arrrangements you have in the middle of your operation, the less of a return you as the inventor will receive at the finish line. How could anyone possibly know right off the bat, that you should only get between 3 and 5 percent???

I'll explain why that happens:

When you hear something like 3-5%, that usually refers to a situation where the inventor has delegated oversight on the entire project to someone else. The person who is given oversight bends the inventor over the proverbial barrel, and let's as many middlemen into the fold as necessary for the overseer to get his money, even if it's at the expense of the inventor. I would liken it to a swarm of parasites that knows almost magically just how much the host needs to barely survive. Everything beyond that is methodically consumed in the process.

As an example of how royalties for the inventor can vary dramatically, let's say you've just invented that plastic document holder called the Page Up.

Hang on, I've got a phone call...
________________

I'm Ken Campbell, a registered US patent practitioner at the Affordable Patent Service.

As a forum moderator, though, any input I provide should be considered general information, and not legal advice. The ideas I express are not necessarily the opinions of InventorSpot.com or its affiliates. In general, any action taken as a result of information, analysis, or advice from any forum members on this site is ultimately the user's responsibility.

Re: I have an idea, now what?

Postby Evilegi » Fri Oct 01, 2010 4:59 pm

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Yea, you are right. It seems like it would be unlikely to hear something so definite as that. That is probably why it is so hard to get involved in something that takes as much time and money as a patent. As a youngster especially. I think I should probably come back in a few years if I have the time then. Until then, I think I'll keep a notebook flowing with idea's. :mrgreen: