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In Need Of Assistance
by dreamer08 » Sat Apr 19, 2008 11:40 pm
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Hello, I am a young dreamer with an idea that could improve an existing invention that is currently on the market. My question is, if my idea will improve the existing idea currently on the market, would this be grounds for me to pursue a license for my idea? Any assistance would be greatly appreciated.
Dreamer08
Dreamer08
by DSlackman » Sun Apr 20, 2008 5:10 am
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DSlackman - Green Belt
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Dreamer08,
Yes, an improvement on an existing product can be licensed if your improvement offers sufficient business value.
Can your improvement be developed, manufactured, marketed, distributed, etc at a cost that will yield sufficient profit for the licensee? Can you show a licensee hard numbers to support this contention?
Will there be there sufficient market demand for the improvement? Can you quantify this?
Can you offer the licensee some business advantage? For example, exclusive use of your patented improvement, or a first mover advantage, or trade secret?
Just some things to consider....
D
Inventors Create the Future
http://www.TenbyTech.com
Yes, an improvement on an existing product can be licensed if your improvement offers sufficient business value.
Can your improvement be developed, manufactured, marketed, distributed, etc at a cost that will yield sufficient profit for the licensee? Can you show a licensee hard numbers to support this contention?
Will there be there sufficient market demand for the improvement? Can you quantify this?
Can you offer the licensee some business advantage? For example, exclusive use of your patented improvement, or a first mover advantage, or trade secret?
Just some things to consider....
D
Inventors Create the Future
http://www.TenbyTech.com
by Sunny » Sun Apr 20, 2008 5:13 am
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Hi,
I am of the opinion that you may be better served, if you applied for a patent if it has not already been patented, by filing a provisional at the earliest, followed by a non-provisional at the earliest and then try to license it. It gives you more leverage in any negotiations for a license. But this is just my take on it. I have a similar improvement on an existing product on the market, for which I have granted foreign patent and have a pending US patent.
Sunny
I am of the opinion that you may be better served, if you applied for a patent if it has not already been patented, by filing a provisional at the earliest, followed by a non-provisional at the earliest and then try to license it. It gives you more leverage in any negotiations for a license. But this is just my take on it. I have a similar improvement on an existing product on the market, for which I have granted foreign patent and have a pending US patent.
Sunny
Assistance
by dreamer08 » Sun Apr 20, 2008 11:17 am
- dreamer08
- White Belt
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Hello and thanks for the quick responses,
All of your responses have definitely encouraged me to pursue getting a license for my idea. My product clearly “Can be developed, manufactured, marketed, distributed, etc at a cost that will yield sufficient profit and show hard numbers to support this contention? Also, there will be a sufficient market demand for the improvement.â€
All of your responses have definitely encouraged me to pursue getting a license for my idea. My product clearly “Can be developed, manufactured, marketed, distributed, etc at a cost that will yield sufficient profit and show hard numbers to support this contention? Also, there will be a sufficient market demand for the improvement.â€
by DSlackman » Sun Apr 20, 2008 6:52 pm
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DSlackman - Green Belt
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If you believe this endeavor is worth a substantial amount of money then make an investment in making sure it gets done right. My suggestion is for you to learn more before you act. Read the material on this web site and the USPTO.gov web site.
I especially suggest reading Tamara Manosoft's book "Mom Inventors". It is a good book for beginners even if you're not a Mom.
Prepare yourself since luck favors the prepared...
D
Inventors Create the Future
http://www.TenbyTech.com
I especially suggest reading Tamara Manosoft's book "Mom Inventors". It is a good book for beginners even if you're not a Mom.
Prepare yourself since luck favors the prepared...
D
Inventors Create the Future
http://www.TenbyTech.com
Re: Assistance
by Sunny » Mon Apr 21, 2008 7:14 am
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.Dreamer 08 said: Quote â€
by makeworldbetter » Mon Apr 21, 2008 9:35 am
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makeworldbetter - Black Belt
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- Location: Silicon Valley
It will depend on the degree of improvement. Maybe what you think of improvement can be a new product after all. I have seen a little improvement make a product really stands out. However, it may go another direction also.
Check the product you improve upon, check if it has a patent. If it already has a enforceable patent for many more years, your chance will be lowered. If you have a patentable improvement, your chance then is higher.
Again, all depends.
Check the product you improve upon, check if it has a patent. If it already has a enforceable patent for many more years, your chance will be lowered. If you have a patentable improvement, your chance then is higher.
Again, all depends.
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