FAQ  •   Login  •   Register  •   Subscribe 

Welcome to the Forum for InventorSpot.com, the most popular invention related website in the world. Read our welcome message.

Skip to content

Moderators: Michelle, Scrupulous, citizen


Invention Assessments -- A service of EDA University Center

Postby Sunni » Mon Nov 26, 2007 11:19 am

Sunni
White Belt
 
Posts: 3
Joined: Mon Nov 19, 2007 3:53 pm
Greetings --

The EDA University Center based at Washington State University advances economic development by providing a variety of services. One unit in the EDA University Center is the Invention Center.

The Invention Center produces Innovation Assessment reports. These are large, comprehensive reports that help inventors know if they should invest further money into their invention by assessing the inventions potential for profitability, ie success, in the marketplace.

Located in the College of Business at WSU, the Invention Center's assessments provide an industry analysis, look at trends, study and compare the competition, review pricing, look at customer needs, discuss distribution channels, include a keyword patent search, and more. Each report also includes the opinions of several experts in the product's industry.

If you would like to learn more about the services of the Invention Center, you can go online to the Invention Center at: http://www.business.wsu.edu/organizatio ... index.aspx

or email me here.

Hope we can be of help to you!
<p>Cynthia (Sunni) Freyer</p><p>http://www.business.wsu.edu/organizations/iac/Pages/index.aspx </p>

Postby Scrupulous » Mon Nov 26, 2007 1:37 pm

User avatar
Scrupulous
Black Belt
 
Posts: 2387
Joined: Sun Jan 21, 2007 7:32 pm
Location: United States
Hello Sunni,

that looks promising at first glance.

I imagine there is no fee?

Postby makeworldbetter » Mon Nov 26, 2007 2:45 pm

User avatar
makeworldbetter
Black Belt
 
Posts: 1496
Joined: Mon Jun 25, 2007 9:15 am
Location: Silicon Valley

Postby Scrupulous » Mon Nov 26, 2007 2:55 pm

User avatar
Scrupulous
Black Belt
 
Posts: 2387
Joined: Sun Jan 21, 2007 7:32 pm
Location: United States


Whoa!

More on Innovation Assessment Reports

Postby Sunni » Tue Nov 27, 2007 9:45 am

Sunni
White Belt
 
Posts: 3
Joined: Mon Nov 19, 2007 3:53 pm
Greetings!

When I first became director of the Invention Center at WSU, I, like you, wondered about the fee. Now, I struggle to keep it so low.

If you were to produce the report yourself, you would first need to expend more than the 160 labor hours per report that is now our median for experienced staff. A wee bit of division will tell you that the per hour for labor from the fee is $4.98. That per hour amount drops further, though, as we also compensate our three industry experts for their opinions.

In addition, we have access to research databases that are exceedingly expensive and cost-prohibitive for the private individual.

Correct me if I'm wrong, but last I checked just doing a keyword patent search cost about $200. That's included in the report, also.

But the more important question, really, is one focused on value.

Is the expenditure of value to the inventor, one might ask?

If you are at this site, you know the cost for illustrations, patents, prototypes and then, the cost to bring an invention to market. Even if you locate a manufacturer and distributor, you still have costs.

I just went online and found this spreadsheet for just one of the above expenses, the patent costs: http://www.webpatent.com/costs.htm

So, I ask you: If you knew at the onset that your product:
-- had an excellent chance at being profitable in the U.S. marketplace
-- had low chance of being profitable in the U.S. marketplace
-- could be tweaked to move from being unprofitable to profitable

that would impact, I would think, your decision to spend thousands of dollars for a patent and additional sums to bring your idea to market. That's the major value of our report, although there are other values also

I recall a fellow who thanked us for our work, saying that he was so passionate about his idea that he totally overlooked assessing whether there was a market for his product, whether that was a market that could or would pay the product's retail price and a market large enough to make it worth his time and money to bring the product to market.

He said that his payment of 795 saved him thousands and thousands of dollars, countless hours of labor time and lots of heartache. He abandoned the idea and moved onto another invention.

If our assessment determines that your invention has a more than 50 percent chance of being successful in the marketplace, we also provide you, free of additional charge, 15 hours of consulting to help you take the next steps to bring your product to market.

Does this help? Questions? Don't hesitate to ask!

Warm regards......

Postby MattB » Tue Nov 27, 2007 3:15 pm

User avatar
MattB
White Belt
 
Posts: 49
Joined: Wed Oct 31, 2007 1:42 pm
The price seems very reasonable, thank you for advertising.

However, given you are at an academic institution, you cannot complain that it is hard to keep the cost down. Don't you have pools of free labor matriculating every year.
I know at the Arizona MBA program they charge $5K to have a team of 3-5 business and engineers work two months on a project.
Matthew L. Bycer<br /> Registered Patent Attorney<br /> http://www.bycer.com

Postby Sunni » Mon Dec 03, 2007 6:45 pm

Sunni
White Belt
 
Posts: 3
Joined: Mon Nov 19, 2007 3:53 pm
I am sorry if I sounded like I was complaining. That certainly wasn't the intent. We pay our help, graduate students or not. At this juncture, we don't want to increase the fee, but total expenses do exceed what we are charging, considerably.

So, my reaction was more to the earlier poster's reaction that the price seemed a tad high. How I wish we could lower it more!

If I can answer more questions, I'm happy to do so.

We are also looking around to see what other help inventors need. I'm sure interested in knowing the answer to that question!

Postby Road Show » Mon Dec 03, 2007 6:58 pm

User avatar
Road Show
Brown Belt
 
Posts: 962
Joined: Mon Nov 20, 2006 5:39 pm
Location: SoCal
Sunni,

Your fee does not seem high to me at all. It is only too high if it is not an appropriate option for a given project, like trying to sell artwork with radio advertising. Not all inventors will get to the point where an in depth marketability study is necessary. For those that are looking to attract investors, having a report from a major university validating the opinions (dreams) of the inventor could make the $800.00 the best investment one could make.

How do you handle confidentiality while researching industry opinions?

RSG

Postby woodtee » Tue Jan 08, 2008 1:23 am

woodtee
White Belt
 
Posts: 3
Joined: Tue Jan 08, 2008 12:54 am
I would like to look into using your services. What does the $795 cover? Do I get a patent or provisional? I am new to all this. Please forgive me. I have board games and many other ideas I want to pursue, but I need help.

Postby woodtee » Tue Jan 08, 2008 1:24 am

woodtee
White Belt
 
Posts: 3
Joined: Tue Jan 08, 2008 12:54 am
I would like to look into using your services. What does the $795 cover? Do I get a patent or provisional? I am new to all this. Please forgive me. I have board games and many other ideas I want to pursue, but I need help.
Next