With the energy crisis and the worldwide push to “go green”, innovation in the automotive sector is at an all time high. This puts automotive patent holders in a prime position to sell or license their patent. However, it would behoove you to do some research on how automotive patents are typically capitalized on, as well as who would be most likely to buy or license said patents.

Most of the action in the automotive industry takes place in Michigan, specifically Detroit, or “Motown.” A recent article called “Auto Industry Fueling Growth in Michigan’s Patent Applications” describes the recent surge in auto innovation there:

“The auto industry may be bleeding money throughout Michigan, but it is fueling a rise in innovation in the state, federal data on patent activity shows.

The state saw a 20 percent rise in the numbers of patents granted between 2000 and 2006, the years for which the most recent data is available, compared with the seven-year 1993-1999 period, according to the U.S. Patent and Trademark Office.”

SRC: http://www.mlive.com/business/index.ssf/2008/03/auto_industry_fueling_growth_i.html

 However, a number of auto leaders do business internationally as well. Wikipedia offers a handy chart that breaks down, by volume, the largest auto makers and their divisions and subsidiary companies. The table is based on the most recent OICA data.

SRC: http://en.wikipedia.org/wiki/Automotive_industry#World.27s_largest_vehicle_manufacturing_groups_.28by_volume.29

General Motors, Ford, and Chrysler are the largest players in the United States market, in that order. Under the GM flag are brands like Buick, Cadillac, Hummer, Pontiac, Saturn, and Saab. Ford encompasses Lincoln, Mercury, and Volvo, while Chrysler markets the Dodge and Jeep line of trucks and SUVs. The divisions of each auto maker should inform your decision on who to contact about selling your patent.

If your patent pertains to low-mid range sedans or gigantic SUVs, you might look to score a meeting with someone from GM. If your patent applies to luxury models like the Lincoln Towncar, a call to Ford might be best. And if your invention would be best utilized in a heavy-lifting work vehicle like a Dodge Ram or Jeep Cherokee, Chrysler is probably the ideal networking target. Of course, there are several other auto makers worth considering who operate outside of the U.S., but it often helps to start closer to home.

 It is also worth noting that many automakers own stock in and have business partnerships with other automakers. This means that even if you fail to sell or license your patent to one automaker, they might be able to put you in touch with one that would be more amenable to your proposal. Here is a quick reference of ownership overlap within the automotive industry.

• Porsche holds a 20% stake in the Volkswagen Group (30.97% voting rights), as of 2006-12-31.
• The Renault-Nissan alliance involves two global companies linked by cross-shareholding, with Renault holding 44.3% of Nissan shares, and Nissan holding 15% of Renault shares.
• Ford holds an 33.9% stake in Mazda. and an 8.3% share in Aston Martin.
• Hyundai Motor Co. holds a 38.67% stake in Kia Motors.
• Daimler AG holds an 19.9% stake in Chrysler Holding LLC.
• General Motors still holds a 3% stake in Suzuki. Suzuki is also partner with GM in GMDAT and CAMI.
• Toyota holds 51% stake Daihatsu hence having a controlling interest in the company.

However, not every automotive patent holder should necessarily target auto makers. Instead, some patents are probably more attractive to auto dealers, of which there are tens of thousands across the United States. If you are unsure of which auto dealer to contact or how to get in touch with them, the National Automobile Dealer Association is a good place to start. They are an automotive industry trade group that represents some 20,000 dealerships across the U.S. and boasts some 43,000 worldwide franchises. They also develop comprehensive research data on the auto industry, which might be of use to you in putting your pitch together.

You can contact the NADA by phone, e-mail, or snail mail.

National Automobile Dealers Association
8400 Westpark Drive
McLean, Virginia 22102
(703) 821-7000 or (800) 252-6232
nadainfo@nada.org

Of course, you will want to consult a patent attorney before diving headlong into negotiations. Furthermore, this attorney should be one with experience and success in the auto sector. One proven winner in this field is Quinn Law Group, PLLC. “Auto Industry Fueling Growth…” discusses the track record and auto industry connections Quinn has at its disposal:

Principal Christopher Quinn said patent applications in areas such as hybrid technology, vehicle safety and electronics are helping drive annual revenue increases of 20 percent or more. The 19-member firm works with customers including General Motors Corp. and suppliers, as well as with out-of-state companies, many with Michigan offices, whose patents wouldn’t necessarily show up in USPTO data, he said.

 Quinn can be contacted at the following web URL:

http://www.quinnlawgroup.com/contact.htm

All in all, your quest to sell or license an auto patent should begin with a careful matching of your patent to the right auto maker, and end with the assistance of a proven attorney in the field.

 Eric Corl is the President of Idea Buyer LLC, a new product development company that owns and operates IdeaBuyer.com- The Online Marketplace for Intellectual Property.  The site gives inventors the opportunity to showcase their intellectual property to consumer product companies, entrepreneurs, retailers, and manufacturers. You can email him at EricCorl@IdeaBuyer.com.

While selling a patent is not necessarily easy, it is quite simple compared to licensing. Selling a patent is basically giving up all future rights to it for a set price. Licensing, on the other hand, can take on many other, different forms depending on what you and the licensee want to get out of the arrangement. Therefore, it pays to be “in the know” about what your options are before diving headlong into the process. In this article, we will offer 10 tips on how to license a patent in a way that meets your needs.

1) Realize what a license is and demands of you
There is no doubting the lucrative potential of patent licensing, but you should be aware that it is a different animal than selling your patent. Licensing is not always the “set it and forget it” deal that many licensors hoped it would be. Typically, you will need to exercise diligence in making sure that your licensee(s) are performing the way they agreed to. If they are not, you will need to take action and revoke the license. This should not scare you away. Rather, it is only being mentioned so that you approach the process with realistic expectations.

2) Avoid general “best efforts” clauses
One benefit of licensing a patent is being able to stipulate things a licensee must do to retain his license. However, there is one type of stipulation that you should avoid: a vague “best efforts” clause. As an article called “Patent Licensing” explains, courts tend to interpret these clauses in problematic ways:
“Both parties should avoid this clause in favor of more objective standards. The courts may interpret such a clause to require the dedication of all of the licensee’s resources towards exploitation of the licensed patents, when realistically most licensees will have a number of other significant business endeavors to support.”
The way around this dilemma leads us to tip 3.

3) Use specific milestones and obligations
What you want to do is set specific, numeric goals and milestones that the licensing agreement will be contingent upon. As the aforementioned article states, the key is to be objective in setting these requirements.
“The milestones can be anything definitive that the licensee feels it can realistically meet in the stated time frame. For example, the licensee may be required to obtain an approved New Drug Application with the Food and Drug Administration by a certain date. Licensees should be aware that there is an implied obligation to exploit the licensed patent on the part of an exclusive licensee.”

4) Set those milestones for a reason
While it is important to have specific milestones, they must also not be arbitrary. It may sound nice to tell a licensee “You can only keep your license if you do a million in sales the first year”, but this is probably not realistic. Instead, do some market research on what it would be reasonable to expect. You want to make sure both you and the licensee feel comfortable with the performance obligations being written into the agreement. After all, the goal is to capitalize on the patent, not one-up each other.

5) Set royalty requirements
One alternative to, or supplement of, performance obligations is to use royalty requirements. Simply put, these are stipulations that say “I can revoke this license unless you pay me X dollars in royalties.” The royalties can be paid monthly, annually, or semi-annually, but the idea is that unless you get the dollar amount stated, you can revoke the patent license. This can be useful if you want further assurance that your financial needs will be taken care of. It is a way of ensuring that no matter how the patent licensee performs, he is responsible for paying you a certain amount.

6) Clearly spell out how and when those royalties will be paid
Just as important as specific and non-arbitrary obligations is ensuring that you both know how and when they are to be fulfilled. Few patent licensing issues are thornier than when there are misunderstandings about payment schedules. Therefore, you should take special steps to avoid these hassles. The earlier quoted article continues:
“The agreement should clearly specify when reports are required to be made and when royalty payments are due. Payment needs to be made in conjunction with a quarterly or semi-annual accounting report on the royalties received by licensee. Licensors usually reserve the right to annually audit the records, at their expense, to be sure they are receiving the proper amount of royalties. Licensors are advised to also include a provision to audit for a period of time after termination of the license to be sure they have received all the royalties that are due and owing to them.”

7) Get legal advice for your agreement
As you can see, all of these performance obligations, milestones, and royalty requirements can seem a bit overwhelming if you are new to the field. A patent attorney is the best person to consult when this happens. They can ensure that your contract is on the up and up, that it can be enforced down the road if necessary. While you may balk at paying their high fees, consider it a worthwhile investment. You need to know that you can enforce your agreement if you have to and only a patent attorney can provide this assurance. They can warn you if the terms in your deal are heavily favorable to the licensee.

8) Don’t get greedy
This rule applies to both patent sales and licensing. If you are in a position to get some nice, life-supporting residual income from a licensing deal, don’t kill it by being excessively greedy. The idea is to score some nice income from your patent, not suck the other party dry. Remember: pigs get fat, but hogs get slaughtered.

9) Specify a length that you are comfortable with
Patent licensing agreements can be as long or as short as you and your licensee want them to be. Therefore, you should take the time to think of a length that suits you. If you want to someday take the reins and capitalize on your patent, an agreement length of 5 years or less might be what you want. On the other hand, if you want to just sit back and cash the royalty checks, you might want to go for as long a term as the other party will agree to. The key is to set this length consciously based on your true goals.

10) Decide on an exclusive or non-exclusive license
There are two different types of patent licenses: exclusive and non-exclusive. An exclusive license is what most licensees will prefer, since it grants them “exclusive” rights to capitalize on the patent. It ensures them some protection against competition and also allows them to enforce violations of the patent. Non-exclusive licenses, then, let you, the licensor, keep the right to license the patent to someone else. Decide which of these two licenses you are most comfortable with and try to get the licensee to go along with it.

Eric Corl is the President of Idea Buyer LLC, a new product development company that owns and operates IdeaBuyer.com- The Online Marketplace for Intellectual Property.  The site gives inventors the opportunity to showcase their intellectual property to consumer product companies, entrepreneurs, retailers, and manufacturers. You can email him at EricCorl@IdeaBuyer.com.

Some mistakes are just too fatal to overcome. If you make them, your invention is pretty much dead on the water with no hope for success. Fortunately, your invention need not be doomed to the scrap heap of useless or uninteresting contraptions. A wise man once said that smart people learn from their mistakes, while geniuses learn from the mistakes of others. This article is an attempt to capitalize on the latter method. That being said, here are four surefire signs that your invention totally, unequivocally, and without argument, sucks.

1) You have no target market

Entrepreneur.com sums up this mistake:

“You have a big idea. You’re sure the masses will clamor for it. So you begin sinking lots of money into building your prototype, developing a business plan, hiring a patent attorney, and more. Little do you know there’s an identical product that’s already out there on the market. Yes, it can be heartbreaking to learn that someone else came up with your big idea first. But it’s even more heartbreaking when you’ve lost a significant amount of money because of it. Advice: be sure to research stores, the internet, catalogs, etc., before moving along in the invention process. I’ve seen people who’ve invested their life savings only to discover–too late–that their idea isn’t original. And it often takes a 10-minute search to find what you are looking for. How can you be sure your product doesn’t already exist? Spend enough time to ensure you’ve exhausted every angle. Search relevant stores wherever you go. Search the internet with multiple key words. In other words, don’t develop your product in a vacuum.”

This is by far the leading cause of inventions that suck. You cannot – repeat, NOT – create something no one wants and hope for a smash hit. If your invention is to succeed, it has to fill a real need for real people. Find out who they are before pouring your time and money into an invention.

2) Your invention is a vitamin instead of an Advil

The website AntiVentureCapital.com once had an article dividing ideas into two categories: vitamin and Advil. A vitamin is a nice product, but nothing that anyone would feel lost without. An Advil, on the other hand, fills a need so well that once it catches on, one can hardly imagine life without it. This is an instructive distinction for inventions, too. Who would be upset if your invention came off store shelves? Would anyone care? Would they even notice? Is your invention a vitamin, or an Advil?

It isn’t that all non-essential inventions suck; clearly, there is a large market for iPod accessories. It’s just that the ratio of bad vitamin inventions to bad Advil inventions is very lopsided in favor of the former. You are far less likely to screw up if your invention solves a major, pressing need than you are if you focus on some fringe desire that may or may not even exist.

3) It’s a “Me Too” invention

They say imitation is the finest form of flattery, but this is deadly advice in the invention world. It is statistically proven that the first and second to market take home the lion’s share of sales. It is also common sense that the hoards of knockoffs that inevitably follow are seen for what they are: knockoffs. The problem is that when something is first created, the first few producers make sure everyone knows about it. So by the time the knockoff artists come around, the buying public is fully aware that you are just the latest copycat. This being the case, you have no one but yourself to blame when sales plummet faster than The Core emptied theaters a few years back. Create something original, or at least add a new variation on an existing invention.

4) Your costs are out of control

Keeping costs low is not one of the sexier aspects of inventing, and therefore it is often avoided. Inventors without business acumen often assume that sales are all that matter. They figure with enough sales, they’ll have to turn a profit eventually regardless of how expensive it is to make their product. This is a deadly error that fells inexperienced inventors time and time again. It’s fine to use whatever is most convenient when you are making a prototype. At that stage, you are just trying to prove that your invention is workable. But once this is established and you set your sights to selling it, you need to find ways to get cheaper materials and supplies. This is crucial to turning a profit on each unit you sell and recouping the sizeable investment of time and money you are making in your invention.

If you steer clear of these four fatal errors, your invention probably won’t suck.

Eric Corl is the Founder and CEO of IdeaBuyer.com, the online marketplace for intellectual property that gives inventors the opportunity to showcase their intellectual property to consumer product companies, entrepreneurs, retailers, and manufacturers. You can email him at EricCorl@IdeaBuyer.com.

With all the false starts that come with inventing something, it is easy to feel like the Rodney Dangerfield of inventing: like you get “no respect” from credible figures in your field. If investors are turning you down, business partners are flaking out, and you can’t even seem to get your calls returned, it may be time for a change of priorities. Believe it or not, there is actually a tried-and-true formula for establishing yourself as a respected inventor. It begins be creating credibility for your invention.

 Priority # 1 – Creating a Prototype

 If anything separates players from spectators, it is this. Having a prototype – a real, working version of your invention – says unequivocally that you are for real and have serious intentions of entering your field. It takes your idea from, as Entreprenuer.com says, “your mind’s eye to the palm of your hand.”

Their article on prototyping offers some helpful guidance on how to approach the process:

“So what exactly should a prototype look like? First, it depends on your idea. Second, it depends on your budget and your goals. If possible, it’s great to start with a handmade prototype, no matter how rudimentary. For example, I’ve seen prototypes made from the simplest of household items: socks, diaper tabs, household glue, empty milk containers–you name it. If it works for your initial demonstration purposes, it’s as good as the most expensive materials.”

SRC: http://www.entrepreneur.com/startingabusiness/inventing/inventionscolumnisttamaramonosoff/article80678.html

The number one thing to keep in mind is getting your prototype to solve the problem it aims to. Early on, it is not important whether it looks glamorous. It does not need to exactly mirror the ultimate vision you have for it. Get something up and running – something that works – and you will have taken a bold and important step toward gaining credibility for your invention.

 Priority # 2 – Secure a patent for your invention.

 Once you have a working prototype, you should file a provisional patent application for your invention. This will protect any new formulas, equations, processes, technologies, or methods you employed in creating your invention. Having patent protection is an invaluable asset in establishing your credibility.

 For one, it enables you to approach retailers or business partners with a tangible asset. Not only do you have a working invention, but you also have the exclusive, legal right to commercialize it. This portrays you as a legitimate player with something to bring to the bargaining table.

In addition, a patent gives you some peace of mind that a sleazy ripoff artist can’t clone your operation overnight. It won’t stop all of them from trying, but it will give you the right to sue them for damages and legally compel them to stop.

Above all, being a patent holder puts you in a position to capitalize on your invention by conferring on you the status and rights you have earned.

Priority # 3 – Set some initial sales targets – and meet them!

 This step is where the rubber meets the road: that fateful day when the market decides whether your invention will fly. It is a day inventors anticipate with both excitement and fear; excitement driven by hope of success, and fear driven by worries about what could go wrong. However, you can increase your odds of hitting your sales goals with some rational planning and foresight.

 The first thing to do is some market research. You cannot just concoct sales goals on a whim, based on fantasies of what you would like to earn. Instead, you must research the market and determine what similar companies have sold. While this in and of itself does not determine your fate, it will give you a realistic idea of what to expect. Reliable sources of market research include industry trade journals, periodicals, and library/academic databases that include access to market data.

Another good step is to avoid overextending yourself. There is a temptation among many inventors to hit the market in a huge way. They want to get their product in as many stores as possible right up front. While the excitement is understandable, this is not always the smartest choice. A better idea is to start off by selling in one or two stores and use that to test the response. How did people respond to your invention? Were sales high? Are you maybe pricing your invention too high, or low? These questions are easier to answer on a small scale. There is an old piece of marketing advice that applies here: fail early, and fail cheap. If you can learn from mistakes at smaller stores, you can apply that wisdom and approach the bigger retailers with the most important thing of all – a track record.

 It would be dishonest to say that gaining credibility is easy. However, if you are diligent and smart in your approach, it is eminently possible. Don’t give up.

If you are the kind of person with a million ideas and not enough time to pursue them, you might want to consider “fast tracking” your invention to market. In this way, you essentially become a hired gun. You, the inventor, perform the tasks of researching and developing the product. Then, you “outsource” the manufacturing and marketing to partners with money. Those partners will develop, market, and fund the startup costs. In return for their greater efforts, they will receive a greater return. The benefit to you, however, is that this is one of the quickest ways to bring a product to market and exit with cash in hand. If you are a serial inventor, this can be a great way to build up some cash and move on from one idea to the next.

The best way to get the ball rolling is to find an angel investor, ie, a private person with personal wealth and the skills necessary to fast track your invention. INC.com has a comprehensive directory of angel investors. Using it, you can locate investors in specific areas, with specific skill sets, and find one that is sure to meet your fast-tracking needs.

Once you have found an investor, the next thing you will do is determine how profits will be split and who is responsible for what. Typically, you will be the one researching and creating the product in question. If it was your idea, this is only logical. You should make it your business to know the market inside and out and formulate a product that can be profitably sold in it. Then, you want to create a prototype for it. Since the extent of your responsibility is creating the product, it makes sense to do this as quickly as possible. Then, responsibility shifts to the investor to put up the funds and get the product to market.

In his landmark text “The Time Trap”, Alec Mackenzie stresses that the single most effective way to get more done in less time is writing a list of things you are going to do that day. It sounds simple – and it is – but it takes a high level of discipline to actually put it into practice. Accordingly, this is an excellent way of ensuring that you develop your prototype as quickly as possible. Not a day should go by when you are not doing something to advance this goal.

When you finally do have your prototype ready, you should waste no time hitting the market. How can you do this? The best way is to use a tried and true formula: start with smaller stores, build a track record of success, and use this as leverage to get into bigger outlets. An article on BusinessKnowHow.com imparts a very specific strategy that you can use to get your product to market in a short period of time. Here is the course of action recommended:

“This is where reps come in. They have had to change their ways of working. It used to be that they would spend the majority of their time with the big chains. The little guys got whatever time was left over. In some cases, reps would use sub-reps to call on the little stores. Well, it ain’t that way today. Some big firms such as Wal-Mart say that due to their volume they don’t need the rep to call on them and they want the commission usually paid to the rep for themselves. That means that reps have to look for other ways to make money. They do this by two methods: One, call on smaller retailers and call on them more often; two, take on lines that the smaller retailers are looking for. 

“So, as a supplier to the retail market, seek out the reps. Ask some stores that might be potential candidates for your line who they believe is the best rep that calls on them. Interview several reps, see what other lines they have that would cause them to call on the same type of firm you believe your goods could go into. They are your best bet for getting into all types of stores both large and small, that is their profession.”

For the best results, you can have your investor start working on this while you are creating your prototype. Optimally, you can do these tasks side-by-side, wasting as little time as possible and getting to launch as fast as you can. If this is not possible, you should at least begin this process as soon as the prototype is ready. When it comes to fast tracking, time is obviously of the essence.

Keep your objective in mind with the eye on the prize to compress time and shorten your time to market. 

With all the invention-related things on an inventor’s mind, it is easy to overlook another important consideration: keeping your finances in order! The importance of a well-organized and documented financial life cannot be stressed enough. That being the case, it pays to take reasonable precautions and keep your finances in order.

How can this be done? The first step is a change in habits. Whenever you buy things relating to your invention – materials, postage, storage space, whatever the case may be – you need to save all receipts and paperwork that come with them. This is crucial so you can keep tidy books for your own reference, for future investors, and for your accountant.  Many of the expenses you incur during the new product development stage may be able to be written off.

Another important step to take is establishing a filing cabinet for your finances. Too often, people stuff their receipts and records into random drawers, folders, and other miscellaneous hiding places. The problem comes down the road when you need to find a certain receipt or notice and have absolutely no idea where you put it. The way around this dilemma is having a small filing cabinet to put these things in. The other benefit of a filing cabinet is that not only are your records in one place, you can keep them in order. Nothing is more frustrating than digging through years and years of records when you need someone from one particular time. Fortunately, with a filing cabinet, this does not have to happen to you.

FinancialPlan.About.com offers some helpful guidance for how to go about doing this. They say that you can divide up your filing system into three categories:

• Bills due
• Important documents to keep
• Items to throw away or shred

It really is that simple. Either you have a bill that needs to be paid, a receipt or document that should be saved, or something that can be discarded. It is up to you how you want to organize these items, but it can be as simple as using three individual folders labeled with the above information.

Then, whenever you get the mail or receive another financial document, take a moment to put it into the correct folder.

Beyond mere organization, you need to make sure you are in good financial standing at all times. The most easy-to-read gauge of this is your credit health. Do you know your credit score? Is it good? Do you even know what a good credit score is? These are all questions that you can and must answer. As an inventor, it is very likely that you will one day seek investors or loans or credit from stores that you are selling your product in. When that day comes, they will look long and hard at your credit health to decide whether you are a trustworthy person that they should be doing business with.

Not familiar with credit scores? Here is a brief description and link to more in-depth information from MyFico.com.

“When you apply for credit – whether for a credit card, a car loan, or a mortgage – lenders want to know what risk they’d take by loaning money to you. FICO® scores are the credit scores most lenders use to determine your credit risk. You have three FICO scores, one for each of the three credit bureaus: Experian, TransUnion, and Equifax. Each score is based on information the credit bureau keeps on file about you. As this information changes, your credit scores tend to change as well. Your 3 FICO scores affect both how much and what loan terms (interest rate, etc.) lenders will offer you at any given time. Taking steps to improve your FICO scores can help you qualify for better rates from lenders.”

SRC: http://www.myfico.com/CreditEducation/CreditScores.aspx

If your credit score isn’t perfect, don’t worry. There are steps you can take to improve it, and taking them is the important thing. Do some reading and, if necessary, rehabilitate your credit status! Your career as an inventor may depend on it.

While on the subject of your credit status, you should also aim to eliminate any consumer debt that you have. This will only harm your credit status and make you look risky to business partners you may meet down the road. You want to fit the profile of someone who pays his/her bills on time.

Above all, you should strive to be in control of your financial life. This means having an organized filing system with all important records and being aware of your financial standing. Accomplish these tasks and you will have gotten your finances in order!

In a fast-paced world where today’s partnership is tomorrow’s downsizing, how do you maintain your networking prowess? The short answer is to forget the saying “don’t sweat the small stuff.” This may be true in certain contexts, but networking is not one of them. When everyone and his mother is promising you the moon, you trust those who remember the little nuances and details – and who comes through on them.

What types of small things matter? Think about what matters to you. One of the smaller details that always matters is birthdays. Your partners’ lives are just as busy as yours. In the daily bump and grind of conferences, trade shows, stockholder conventions and business trips, even the mightiest producers can be worn down. Consequently, occasions like birthdays are seen as a rare opportunity to relax and take stock of one’s place in the world. If you remember to send over a bottle of champagne or even simple a happy birthday phone call, you will likely be held in high regard by your partner.

Better yet, go the extra mile. If the partner in question lives nearby or will be in town, make a point of taking him or her out to dinner for special occasions like this. Things like this become cemented in our minds as signs of loyalty and good will.

The same holds true for major anniversaries. If you have been partnered with someone for many years, you probably know important anniversaries of theirs – their marriage, the day their company went public, even the first deal you two consummated. These are days of triumph and celebration, as well. It is gracious and appropriate to extend well wishes or even gifts like champagne or tickets to sporting events in recognition of anniversaries. Little things like this show that your partnership transcends the pursuit of profit and encompasses the good will between you.

Of course, the little everyday things matter as well. Remembering the names of a partner’s child, spouse, or even pets can go a long way toward showing that you value them. When you think about it, this is common sense. You would begin to question someone’s authenticity if you had to tell them your kids’ names a dozen times too, wouldn’t you?

You can also look to things outside of work to strengthen your networking acumen. The easiest example of this is the throngs of businessmen who hash things out on the golf course instead of in the board room. There is just something about an informal setting that fosters a sense of trust between partners. For this reason, create such settings often. Whether it’s golf, sporting events, concerts, or anything else the two of you deem enjoyable, such activities will add a new dimension to your partnership that a cutthroat, fly-by-night competitor won’t be able to outdo.

Another way that the little things matter is when it comes to deadlines and obligations. These are the heart of any partnership, since you are presumably partnering to benefit from each other’s skills and experiences. The best advice is also the simplest: be a man or woman of your word. If you promise a partner that you will have a report ready by a certain day, see to it that you do. If you can, strive to exceed your deadlines. This creates an image of you in the partner’s mind as someone who can be trusted under any circumstances. And, like bad images, these are very difficult to dislodge once they take root. You will benefit from this perception of trust and reliability time and time again.

Finally, it must be said: for all of these things to work and truly be effective, you must be sincere about them. In other words, don’t feign concern, care, or respect for your partners if you don’t actually feel it. Harvard Business School graduate John T. Reed offers an example of what not to do in his review of Robert Kiyosaki’s book “Rich Dad, Poor Dad.”

“On page 154, Kiyosaki says “the reason you want to have rich friends” is to get inside stock market information that you can make low-risk profits. He ends that discussion with the sentence, “That is what friends are for.” That is the narrowest, most mercenary definition of friendship I have ever seen. I doubt Kiyosaki is the only person who feels this way about his friends, but he may be the only one dumb enough to say it in a book.”

SRC: http://www.johntreed.com/Kiyosaki.html

Obviously, this is not the reason you want to have friends or partners. You should feel a genuine sense of trust, respect, and good will toward any business partner that you have. If you do not, the tactics in this article will lose their status as friendly gestures and become mere brown nosing.

However, assuming that you and your partner have an authentic relationship, you will do wonders for yourself to keep the small things in mind!

Eric Corl is the Founder and CEO of IdeaBuyer.com, the online marketplace for intellectual property that gives inventors the opportunity to showcase their intellectual property to consumer product companies, entrepreneurs, retailers, and manufacturers. You can email him at EricCorl@IdeaBuyer.com.

Every inventor knows the dreaded feelings of a creative dry spell. It is the pit of dread that comes with feeling like you are totally out of new ideas, that you could not innovate your way out of a paper bag, that you are creatively burned out. Ayn Rand called this anxiety “the squirms”, and it is well-known to any creative person.

So how do you wriggle out of the squirms and back into creativity? Brian Clark, creator of the popular website CopyBlogger.com, offers some helpful clues in his article “Do You Recognize These 10 Mental Roadblocks to Creative Thinking?”

The first roadblock Clark discusses is following the rules. He explains:

“One way to view creative thinking is to look at it as a destructive force. You’re tearing away the often arbitrary rules that others have set for you, and asking either “why” or “why not” whenever confronted with the way “everyone” does things.

This is easier said than done, since people will often defend the rules they follow even in the face of evidence that the rule doesn’t work. People love to celebrate rebels like Richard Branson, but few seem brave enough to emulate him. Quit worshipping rule breakers and start breaking some rules.”

SRC: http://www.copyblogger.com/mental-blocks-creative-thinking/

Two real-life examples of this spring to mind immediately. Ten years ago, people probably would have scoffed at the idea of Wikipedia.com. “A collaborative encyclopedia?”, they would exclaim. “Impossible! It’s never been done. It will be rife with errors – if people bother to edit it at all!” Well, today Wikipedia not only exists, but is one of the most trusted sources of information in the world. In addition, its accuracy rate is almost as high as Encyclopedia-Britannica.

Another example of an invention that whose creator “didn’t follow the rules” is Digg. Prior to Digg, news websites virtually all had moderators and anchors who decided what news got seen. Digg changed all that by creating a socially-driven system where users voted on news and thus determined what was popular enough to be on the front page Today, people pay hundreds and even thousands of dollars to consultants who promise them that they, too, can be seen on Digg’s homepage. All because the creators of the site went against the conventional rules.

Another roadblock Clark identifies is being practical. He argues that while practicality is important when it comes time to deliver the goods, it can lead us to idea killing self-censorship when we are just brainstorming.

“Like logic, practicality is hugely important when it comes to execution, but often stifles innovative ideas before they can properly blossom. Don’t allow the editor into the same room with your inner artist.

Try not to evaluate the actual feasibility of an approach until you’ve allowed it to exist on it’s own for a bit. Spend time asking “what if” as often as possible, and simply allow your imagination to go where it wants. You might just find yourself discovering a crazy idea that’s so insanely practical that no one’s thought of it before.”

The problem with practicality is that too often, we let established conventions define what is “practical” to us. In this way, any new and original thought is instinctively labeled “impractical” because it has not yet been done. Instead, do your best to banish “practical” from your vocabulary during creative brainstorming. You can apply the demands of practicality later, after you decide if you like an idea or not.

A third roadblock Clark talks about is the fear of being wrong. This is ingrained in all of us. As humans, we never like to be wrong on some issue because it makes us feel like failures. However, this is not necessarily true. Even the greatest minds in history have used failure and mistakes as stepping stones to technological discovery:

“We hate being wrong, and yet mistakes often teach us the most. Thomas Edison was wrong 1,800 times before getting the light bulb right. Edison’s greatest strength was that he was not afraid to be wrong.

The best thing we do is learn from our mistakes, but we have to free ourselves to make mistakes in the first place. Just try out your ideas and see what happens, take what you learn, and try something else. Ask yourself, what’s the worst that can happen if I’m wrong? You’ll often find the benefits of being wrong greatly outweigh the ramifications.”

The common theme in all of Clark’s roadblocks is that if you want to be creative, you shouldn’t self-censor. Instead, let creative brainstorming be a time of open, free flowing ideas. Ask yourself bold new questions and don’t feel like you need to come up with exact answers right away. It may turn out that you are onto something huge - something you may have cast aside by being unnecessarily stringent.

Some inventors make the mistake of pouring years of their lives and thousands of dollars into bad ideas. Maybe their idea was ill-formed and nobody actually wants it. Maybe they wasted years pursuing an idea that actually will not work the way they originally thought it would. Whatever the case may be, the end result is lots of wasted time and energy on a dead idea. By this point you are probably thinking, “There must be a better way!” Fortunately, there is. It is a bold, decisive strategy that is best summed up as “Kill your ideas quick.” What does this mean, exactly?

Basically, you want to expose your idea to as much critical scrutiny as you can, as early as you can. In this article, we will discuss two main ways of doing that. The first and easiest way is to collect feedback about your idea. Ask people questions like, “Would you buy this? What need would this fill for you? Can you think of any reason why you would not want to buy it or use it? What about your friends? Do other products do what my idea is going to do, better? How so?” The more detailed feedback you get, the better. However, merely collecting this feedback is just the starting point. What you want to do is implement the feedback you get into your prototype or working model. Doing this as quickly as possible will help you determine whether your idea is a winner or a bust. As you force yourself to actually create it rather than endlessly theorize, you will discover whether it is too expensive or too big or too hard or impossible.

Of course, the best scenario would be if you know someone in your field that you trust and can ask for advice. They above all people will have a good sense of whether your idea is unrealistic or not. The feedback they provide will also be immensely valuable, especially if your idea doesn’t need to be killed.

Another way to kill your idea fast was pioneered by Internet advertising guru Perry Marshall. He advocates using the cheap, fast-response ad medium of Google AdWords to test public interest in your idea before diving headlong into pursuing it. Perry describes the nuts and bolts of his approach in his free e-course on Google AdWords:

“Let’s say you’ve got a product idea. The product itself costs $50,000 to develop, and you’re sure it’s a good idea because it solves a really thorny problem.

So here’s what you do: You write a report, e-book or white paper about how to solve that problem. You create an opt-in page where people can get your report in exchange for their contact information.

Then you buy keywords, send people to that page and see how many people you can get to opt in.

That alone will tell you something.

And if you absolutely cannot get anybody to opt-in to your report - or if you can’t find keywords that anyone is searching for - then that’s a good sign you should abandon the project before you throw any more money at it.”

SRC: http://www.perrymarshall.com/google/day4.htm

Perry’s point is that you can use an inexpensive testing medium to see if your idea is a winner. At the very least, you will be positioned to proceed on the basis of actual knowledge instead of wishful thinking. Perry continues:

“Not only will this process validate that you’re solving a worthwhile problem; it will also fine tune your efforts so that you’re dealing with the real problems that real people have!

It’s worth repeating: after testing your concept on Google AdWords, you’ll never throw good money at a lousy product idea. And when you need assistance or investment money, you’ll have proof that people are looking for what you have to sell.”

Perry’s method can be applied to virtually any invention relating to something that people would look for on a search engine. Best of all, it does not need to be expensive. If you can spare a few hundred dollars, you will get real-time market research from people who are actively looking for what you are making. What could be more valuable than that? And like Perry says: if no one likes your idea, it is probably a dud and at least you know for sure.

Whichever method you choose, killing your ideas quick is sound practice. It is also a bold step away from the “Inventor Baby” mentality who seeks to protect his idea from harsh contact with the real world and its desires. You will be facing reality as it actually is. You will not spin your wheels on ideas that are doomed to fail. And most importantly, this will free up your precious time and energy for more fruitful projects.

Eric Corl is the Founder and CEO of IdeaBuyer.com, the online marketplace for intellectual property that gives inventors the opportunity to showcase their intellectual property to consumer product companies, entrepreneurs, retailers, and manufacturers. You can email him at EricCorl@IdeaBuyer.com.