By Eric Corl, Idea Buyer LLC

The way most people (and infomercials) portray inventing, it seems like building something is the endgame. Create the widget, the logic goes, and your job is done. All that remains now is sitting back and waiting for fame, fortune and orders to pour in. This extends at least as far back as Henry David Thoreau, who famously declared “build a better mousetrap and the world will beat a path to your door.” Indeed, what could be more appealing from an inventor’s point of view? Unfortunately, this is not the way it usually works in practice. As marketing guru Perry Marshall countered, “Henry David Thoreau never built any mousetraps, and the world never beat a path to his door.” Marshall’s point - and our point today - is that inventing is a business. Like any other business, money is not made merely by developing a product. To truly cash in, you will need to create demand for what you invented and monetize that demand in a life-sustaining way. Several ways of doing this are discussed below.

Above, we said that turning your invention into a business starts with creating demand for the invention. But demand from who? There are actually a few routes you can take in generating demand for the invention. Perhaps the most obvious and intuitive is creating demand among customers. If your invention is a consumer product that could be sold on a store shelf, this is certainly something to consider. However, if you are going after the consumer market, their desires must be taken into account during the inventing process. Rather than merely inventing what you want, you must design, prototype, and develop what the buying public will pay for. It is possible that the latter might be something slightly or entirely different than what you imagined at the outset. Don’t let this stop you. Remember, your goal here is turning your invention into a business. Business is about finding needs and filling them.

That means it is far wiser to gauge demand for your invention at the beginning (by conducting market research or surveys) than to invent whatever you want and try to force it down people’s throats later. Many unhappy inventors have taken this path, only to find that their dreams of market success were doomed from the start. The phrase “an ounce of prevention is worth a pound of cure” comes to mind. Even if you are certain your invention has demand in general (for example, a new kind of bike tire), you can boost your odds of market success even higher by figuring out what current versions are lacking. What are some common complaints about alternatives to your invention that are already out there? Such questions will help you create something that people are already eager to buy without a whole lot of selling and hype. In fact, that is the central lesson of this entire article. The surest way to turn an invention into a business is to invent something for which there is much known, obvious, ready-made demand. If you have to convince people that they “should” want your invention, you’re looking at an uphill climb from day one.

Of course, inventors can create demand for their inventions from people other than consumers. Maybe your personal strengths and weaknesses are ill-suited to marketing your invention personally. It is not for everyone. An alternative strategy is to create demand among manufacturers, who would buy or license your invention and bring it to market themselves. Several advantages stem from this strategy. For one, you have the luxury of focusing on decision makers at a small handful of companies, rather than trying to juggle the logistics of selling in stores around the country. Conceivably, you could spend a few weeks creating a presentation, booking appointments and conducting product demos and close a deal rather quickly. The terms of the deal are completely negotiable by you and the manufacturer. For instance, the two of you could enter into a licensing agreement, whereby you get $50,000 immediately and 2% of gross product sales for 20 years. Or, you could agree to sell the invention outright for a larger up-front sum.

The main difference between creating demand among consumers vs. manufacturers is in how you promote the invention. Selling an invention in stores, again, demands publicizing the benefits of the invention to the consumer. Keeping our bike tire example, you would likely want to advertise how durable the tire is, how it is more puncture-resistant than the leading brand, and how it offers better traction over rocks, branches and mud. This is the information pertinent to a consumer’s decision making process. Manufacturers, of course, have their own decision making process. Rather than product benefits, the manufacturer is concerned with profit margin, production costs, short and long-term demand and the likelihood of the product triggering lawsuits, among other things. Pitching to manufacturers, therefore, requires having pleasing answers to these questions.

Again, the overall idea is that turning an invention into a business centers around demand. Without demand from others, money never changes hands. We cannot stress enough, therefore, that you are not inventing simply what you want. While this is a great starting point, what you personally want to invent must always take a backseat to what consumers or manufacturers will pay for. Luckily, there is often room for both to co-exist. If you have spent your life working with a product category, chances are you are one of its consumers who knows what you and others will pay for. Keeping these principles in mind will go a long way towards turning your invention into a feasible business.

Eric Corl is the founder of Idea Buyer LLC, an Ohio Limited Liability Company. Idea Buyer LLC runs and manages IdeaBuyer.com and is a leader in new product development and commercialization practices. You can email him at EricCorl@IdeaBuyer.com. If you have a product that you would like our feedback on, email info@IdeaBuyer.com.

http://twitter.com/IDEABUYERcom

One of the most common obstacles facing the new inventor is running a patent search. There are many reasons why an inventor would want to do this. The most obvious reason is to justify spending a great deal of time and money on an invention by determining that no one else has patented it. You may even have a specific patent number that you want to investigate further for any similarities to your project. Whatever the reason may be, the ins and outs of conducting a patent search are not always obvious. In this guide, we will explain how to do so in easy to follow steps.

Step One: Narrow your search to a 5-15 very specific names.

This is a crucial yet oft-overlooked step in the patent search process. Before running any type of search, anywhere, you need to narrow your search to a handful of very specific names. This is because the United States Patent and Trademark Office (PTO) demands specificity. The vaguer a patent is the more control the holder can exercise over the market. Therefore, there is an immense burden on patent applicants to be as narrow and specific about the nature of their patent as possible. You need to heed this fact when running a patent search. For example, if the patent you are looking for pertains to an online shopping database that ties a user’s shopping preferences to his shopping history, running a search for “online shopping database” is almost pointless in this context. It will return more results than you could possibly screen, and few if any will be relevant to what you are looking for.

Instead, a much better search would be something like “online shopping history based matching metrics.” The closer you can get to describing what the patent truly protects, the more helpful your search results will be. Simply think long and hard about what you are looking for and come up with 5-15 very specific potential names for it. These are the names you will use to conduct your search.

Step Two: Run the search via the USPTO’s official website.

It used to be that the only way to run a patent search was hiring a patent attorney. Prior to the advent of the Internet, these attorneys had a near exclusive monopoly on running searches and doing all manner of patent-related work. Fortunately, this is no longer the case. Anyone who wants to run a patent search can visit the USPTO website and do so in a simple, self-service fashion.

SRC: http://www.uspto.gov/patft/index.html

There are a couple of options at this page that you can use depending on your exact needs. If you just want to run a cursory search for the patent you have in mind, the Quick Search will work wonders. From here, you can type in two descriptive terms and specify the years between which you would like to search: either 1976 to the present or 1790 to the present. Now, common sense will go a long way towards making your life easier in this regard. If the patent you are searching for is in any way high-tech, you can filter out a lot of irrelevant results by choosing the “1976 to the present” option. However, if your invention is timeless or mechanical in nature, the full “1790 to the present” option is probably best.

You can also drill down into the patent database for the exact type of information you want. Clicking the “All Fields” drop-down menu turns up a cavalcade of search options. You can search for the abstract, the issue date, patent number, assignee name and city, and about a dozen other options.

SRC: http://patft.uspto.gov/netahtml/PTO/search-bool.html

However, what if you already have a patent number and just want to see information about what it pertains to? This link takes you straight to a patent number search. Just key in the number and click “Search” to find the full text of the patent in question.

SRC: http://patft.uspto.gov/netahtml/PTO/srchnum.htm

Now, you may notice in using these pages that the USPTO’s website is not the most user-friendly resource out there. Luckily, there is an easier way: Google Patent Search. The reason we covered the USPTO’s site first (or at all) rather than Google is because this is the official first source of all patent-related data. While Google is by all counts reliable, you should use the USPTO’s site if there are any worries about gaps in the patent records you are seeking.

Step 3: Use Google Patent Search

Google Patent Search is a beta service that combines the easy searching of Google with the patent data from the USPTO. That is the true beauty of using Google instead of the USPTO: your search results and patent profiles are significantly cleaner, more readable and easier on the eyes.

SRC: http://www.google.com/patents

As a demonstration, we will run a search for the patent on the electrophotographic copier, or “copy machine.”

http://www.google.com/patents?id=Pp48AAAAEBAJ

As you can see, the page is very helpfully divided up into distinct sections, making it easy for you to find the information you are interested it. You can choose to download the whole patent, view it as an Adobe PDF document, or even click a direct link to the USPTO’s record. On this same page, you can also view the patent’s list of citations, the claims it makes, and the drawings the patent holder accompanied with his patent application. Again, while these things can be found at the USPTO site, those unfamiliar with patent records will waste hours looking for what Google organizes so readily.

There you have it: three simple steps to conducting a patent search. Above all, remember that the more specific your searches are, the more likely you are to find the patent you want – or – the more justification you will have to conclude that no one has your patent, if the search comes up empty. Good luck!

Eric Corl is the Founder and CEO of IdeaBuyer.com, a marketplace for new technology and products 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. You can visit the site by clicking here > Patents for Sale.

Idea Buyer

It is not until a man gives up that he is a failure. Failure is simply an event. Failure can serve us greatly if we utilize its lessons and continue moving forward. For those of you that have allowed the past 11 months since the New Year beat you down and withdraw your enthusiasm for your goals, pay attention.

No one is born a great inventor. Great inventors become so through years of hard work, dedication, and sharpening of their saw.
Successful inventors study the markets they invent for, build contacts, and partner with individuals who can help them take their product to the next step. They utilize their capital wisely, investing in materials and services that are value based and help them build their networks.
One thing they do not do is give up. This isn’t to say you should never let a product go. What it means is that you should never stop inventing, educating, and taking massive action.
This past week I had the opportunity to speak to a very intelligent and motivated inventor named Lisa. Her last invention flopped after she spent a large chunk of her money on patent services before she had a chance to really get started.
While most people, rejected, would feel defeated and give up. Many would think, “maybe this just isn’t for me. Maybe I am not cut out for this”.

Not Lisa. Lisa learned from her mistakes, built up her coffers, kept her journal, educated herself further, and is currently in talks to license her patent pending product. We also had the opportunity last week to get two new products into retail locations where they will begin selling. Collectively, the inventors have been working on their inventions for over 5 years and their persistence is paying off.
The will of the human mind is the greatest gift a person is given.
The human mind is what can help people get through atrocious events like the Holocaust.
Your mind, like a tree, can only grow stronger when it is challenged by the weather of life.
If a tree is insulated against nature, its trunk stays week. It does not grow stronger. Eventually, if it is planted alone, it often snaps during turbulent times and dies.
Let the storms and weather you face serve you in your inventing career.
Think about how you can take control back and fire up that engine inside of you. That engine that says;
“I do not fear failure. I only fear the “slowing up” of the engine inside of me which is pounding, saying, “Keep going, someone must be on top, why not you?””
- George Patton

Best,
Eric Corl

Eric Corl is a serial entrepreneur and the founder of Idea Buyer LLC, a new product development company which operates IdeaBuyer.com. You can email him at EricCorl@IdeaBuyer.com.

“If you want a recipe for a startup that’s going to die, here it is: a couple of founders who have some great idea they know everyone is going to love, and that’s what they’re going to build, no matter what.”
- Paul Graham

As an inventor, it is all too tempting to fall into the “trap of the idea.” What we mean by this is that inventors and businessmen alike often end up with a kind of tunnel vision, such that they ruthlessly pursue their exact idea regardless of what their market has to say about it. The passion most inventors have about their project is so strong that their invention soon becomes an extension of themselves, and criticism of the project is often taken personally. The old “If you build it, they will come” attitude soon pervades the mindset of inventors, until they truly believe that if they could just get the project perfectly right, down to every minute detail and exact feature, the market would finally be held in awe of what they have created, and everyone and their mother would be calling in orders.

Sometimes this is the case, but it is a lot less common than you might imagine. The Segway Scooter, invented by Dean Kamen, is an example of this phenomenon. Discovering a breakthrough technology that allows gyroscopes to monitor the rider’s center of gravity about 100 times a second, Kamen decided he would use it to build a revolutionary transportation device, and that’s exactly what he did. Thanks to an absolute ton of media hype and mystery surrounding the project, and also thanks to the futuristic look and feel of the device during a time (2001) when the world was hungry for such space-age devices, the project was a moderate success. An inspiring story to be sure, but not a scenario every inventor should hang their hat on. What is most important to remember is that a business lives, thrives and dies by one thing and one thing only: Demand. With orders in hand, you’re sure to stand, when orders slow to a crawl, you’re sure to fall. With that in mind, let’s examine a few of the errors that can cause orders to slow to a crawl, and how to avoid them.

Neglecting to identify your target market is a common mistake among new inventors. We see very unique and creative ideas from very smart people all the time and one of the biggest predictors in early success is whether or not they know whom they will be selling to. When asked, “What specific group of people will use this, and why,” we are often met with a blank stare quickly followed by a rehash of how awesome and revolutionary the product is. If you cannot identify the exact kind of person who will pay money for what you are creating, do yourself a favor and dedicate some time to figuring it out.

Perhaps the most valuable lesson an enterprising inventor can learn is to be flexible and open minded about your invention. You might have a very helpful invention on paper that will make it easier for business executives to keep track of sales, but if you show it to several executives and they all recommend similar changes to your original design, chances are you should consider them. Since you will be selling to these people, their suggestions reflect what your market is looking for. Failure to adapt to these suggestions and indignantly building exactly what you think is best is little more than exercise in narcissism that is sure to cost you valuable sales. If you are truly committed to meeting the demands of your market, you might consider developing a kind of feedback loop with your customers such that they can make new suggestions to you. These suggestions will inevitably help you to identify how you can rake in more orders and expand your business to new heights, rather than hit a glass ceiling due to neglecting the requests of your customers.

Another common reason why sales do not pour in is a failure to secure widespread reach. “Reach” is your ability to spread the word about your invention and to ensure that your message reaches your target market. Many new companies fail to give this problem proper consideration, and go full speed ahead into production without any idea how they will generate publicity once they have products to sell. Many inventors brush this concern off as a secondary issue, assuming that reach will work itself out naturally once they have their amazing invention created. This is a mistake, as reach is actually of prime importance to any new inventor, and routes to exposure should be carefully thought out and planned before you get too far into production. If there isn’t a clear way for potential customers to discover your product, they have no chance to place their order.

The biggest take away from all of this is that demand for your product is the only factor that will keep you afloat in the long run. It is therefore your noblest duty as an inventor and owner (or soon to be owner) of a nascent company, to make sure that those orders pour in. By identifying your market, adapting to your customers demands, and through ensuring that new customers can learn about your product, you will be establishing your company on a solid, stable foundation with a much greater potential to succeed.

Eric Corl is the founder of Idea Buyer LLC, a new product development company which operates IdeaBuyer.com. You can email him at EricCorl@IdeaBuyer.com.

Well, for one thing, they don’t become failures. In this narrow sense, their decision to indefinitely wait has succeeded in making it absolutely impossible to fail. But is this really something to be proud of? Only by Homer Simpson’s cynical “I find that trying is the first step toward failure” logic can this be considered a success. The truth is that most inventors who don’t try are not happy with their decision. Some try to forget about it by consciously avoiding thoughts of the dream they did not pursue. Others experience regret more intensely, living each day with the deep awareness that they gave up on themselves. It’s not a fun feeling, and for some it never fully disappears.

But enough psychologizing. I think we can safely assume that you don’t want any of that. You would rather know that despite all risk, uncertainty or criticism, you gave your invention an honest-to-God chance. Perhaps it isn’t fear holding you back, but simple confusion about where to start. After all, conceiving of an entirely new product, developing said product and bringing it to market is hardly a routine matter. It is very tempting to look at such a lofty goal and conclude “little old me could never do all of that.” However, this is exactly the type of fearful thinking that “someday” feeds off of. If you are going to make a serious go of this, you need to replace that thinking with bold practicality. Instead of succumbing to complexity, determine specifically what a given thing actually requires you to do. This nearly always involves breaking down huge goals like “develop my product” into smaller steps that do not boggle the mind.

With this in mind, IdeaBuyer would like to offer the new or timid inventor a “roadmap” that will make the huge goal of new product development less intimidating. Think of these steps as stages that any successful inventor passes through. As you read them, ask which stage you are currently in what it would take to keep going.

Step 1) Define your product

Step 1 is where inventors consumed by the “someday” bug never depart from – defining your idea. Nevertheless, it is the critically important step that forms the foundation of everything else. If your product exists in your mind as a jumbled mess of “neat ideas” or things that would “be pretty cool”, it will be tough for you to focus or advance the idea in any meaningful way. The reason is that our brains rely heavily on schemas to motivate us and keep us moving. It has been proven, for example, that students who see college as the centerpiece of a passionately sought-after career of their choosing get better grades than those who simply see college as a vaguely important chore. For the same reason, inventors who begin each day with a crisp, clear vision of what they are trying to create have an inestimable advantage over those less certain.

It therefore pays tremendously to define your idea as best you can at this early stage.

Step 2) Determine demand for your product

This step is somewhat less fun, but just as crucial as the first. You must determine whether there is demand for your product. The reason, simply enough, is that even the best product won’t sell if nobody wants to buy it. And few things are worse than pouring months or years into creating something with no demand. Luckily, there is an effective way to reduce this risk - market research. IdeaBuyer has an extensive, free article on that here. Read it and follow its advice.

Step 3) Patent your product (but not fully)

If your product survives the “market research test” – that is, you can give plausible reasons why people want it and identify who those people are – the next step is filing for patent protection. Be careful however! Many patent lawyers will falsely tell you that you ought to get a full patent (called a utility patent) right away. This is incorrect. Inventors can actually get what is known as a provisional patent (for hundreds of dollars compared to thousands) which gives them patent protection for 12 months. During this time, the inventor can gauge interest in the product and on that basis decide whether to get the utility patent. IdeaBuyer has an extensive, free article on that here. Our sister website, PatentHelpNow.com, also has an eye-opening 3 part series called “Patent Facts & Fiction” that will answer any lingering questions.

Step 4) Develop a prototype of your product

The next step following patent protection is to develop a prototype of your product. Understandably, this is something you may or may not be able to do yourself. Not every inventor possesses the skills to literally create what he envisions from physical materials and drawings. Fortunately, this is not necessary. There are firms you can hire to do the bulk of this work for you, under your guidance and according to your specifications. IdeaBuyer works with and recommends Product Development Co and its “Turning Ideas Into Profits” process. PDC’s talented and experienced engineers can draft up industry-standard technical drawings and develop physical and virtual prototypes based on them. This is when your idea begins to really take shape.

Step 5) Decide upon a commercialization strategy for your product

When it comes to inventing, there’s more than one way to skin the cat. Many inventors wish to carry their product all the way through completion and get it onto store shelves. This is a perfectly good strategy and one you should certainly investigate. Other strategies include licensing your patented product to someone else (say, a manufacturer or retailer) who will do all of that themselves and pay you royalties. Should the latter strategy appeal to you, visit PatentHelpNow and peruse our library of free articles on everything from valuing your patent for sale to licensing patents to retailers. For all others, continue on to steps 6 and 7.

Step 6) Find a manufacturer (if your strategy is to sell product in stores)

Finding a manufacturer to mass-produce your invention is no simple task. A new inventor with little or no industry experience may feel overwhelmed by the sheer newness of this goal and lack a firm direction on how to accomplish it. For this key step, we again refer you without hesitation to Product Development Co. The same engineers who can assist with prototype development have valuable, long-standing connections with manufacturers who can produce your invention on a wide scale. If not PDC, there are similar organizations that can assist you with this important step.

Step 7) Sell the product

Finally, it comes time to sell the product, either online, in stores, or otherwise. This too can seem bewilderingly complicated, but remember to think pragmatically – what does it really involve? IdeaBuyer has a free article called “Getting Your Invention on Store Shelves Within 30 Days” that begins to answer this question. We recommend everyone check it out before getting started on this step. Of course, IdeaBuyer also works one-on-one with inventors on connecting them with interested retailers and manufacturers. We are happy to talk with anyone who thinks their invention might be ready for prime time.

Someday is not a day of the week

Above all, remember our earlier discussion about someday – and remember that it is not a day of the week. Those who stake all their hopes and dreams on “someday” typically find that life has passed them by, leaving little more than longing for what might have been. Don’t be one of those people! Instead, use this road map as your guide, and remember these timeless words regarding criticism and big dreams.

“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.”

- Theodore Roosevelt

Download this article in full, here; Idea Buyer - Someday is Not a Day of the Week

This becomes important when it comes time to develop a working prototype of your invention, and especially when it comes time to mass-produce it. The crude “notebook” drawings you sketched up yourself won’t be accepted or usable by a manufacturer. Without detailed technical drawings that a manufacturer can take into his hands and understand, you most likely will experience serious delays and costly errors. So let’s explore in more detail what technical drawings are, how they will benefit you, and how you can attain them.

As noted, the main people who will be creating and using technical drawings of your invention are engineers. The main difference between technical drawings and other drawings is the degree of standardization. Rather than simply sketching your invention, an engineer drafting a technical drawing will meticulously draw it out in accordance with industry-wide standards for everything from layout, line thickness, symbols, descriptive geometry, text size, notation, dimensioning and view projections. This means that any similarly qualified engineer can look at your technical drawing and understand exactly what it represents with minimal explanation from you.

An example of a technical drawing (an engineering drawing, in this case) for a machine tool is shown below:

Engineered drawings such as these unambiguously represent the proportions and dimensions of the invention. Every angle, nook and cranny of the invention is described in terms of length, height, and scale indicators that any engineer will immediately understand.

However, engineered drawings are not the only kind of technical drawings useful to an inventor. Another commonly used drawing is known as the cutaway drawing (shown below). The main purpose of the cutaway drawing is displaying your invention in 3D form – rather than flattened out - but opaquely, so that the inner workings of the invention are still visible. Drafting a cutaway drawing enables an engineer or manufacturer to get a better picture of how the invention should look in its finished state.

Still another kind of technical drawing that often proves valuable to inventors is the exploded view drawing. For inventions that contain a lot of moving or inter-locking parts (such as the gear pump pictured below), an exploded view drawing captures the interconnectedness of these components and the exact way in which they fit together to form your completed invention. Without an exploded view drawing, you are left explaining these complicated inter-relationships verbally, which rarely captures the subtle nuances of how it all has to work in practice.

In addition to physically creating your invention, technical drawings come in handy when filing for patent protection. If you do apply for a patent, you will be required to submit what are known as patent drawings (see our article on the subject), that visually convey your invention in much the same ways as you have seen here. Getting technical drawings done early on will be a serious time saver when applying for patent, because you can use these as your patent drawings.

It used to be that a drafter or engineer would create these drawings out manually, using drafting boards, protractors, and triangles, pen and paper to get the job done. Naturally, this was a rather error-prone process that did not always convey the object effectively. Today, the whole process of creating technical drawings is much more streamlined. Using computer-aided design programs like AutoCAD, a skilled engineer can depict your invention on any or all of the technical drawings above with total precision and accuracy.

In addition to AutoCAD, another program commonly used to create high-quality technical drawings is SolidWorks. The main benefit of using a program like SolidWorks is that it lets you specify a feature (or several features) of your invention and hold that feature constant regardless of other changes you make to the design. Wikipedia offers a practical example:

“For example, you would want the hole at the top of a beverage can to stay at the top surface, regardless of the height or size of the can. SolidWorks allows you to specify that the hole is a feature on the top surface, and will then honor your design intent no matter what the height you later gave to the can.”

The benefit to you as an inventor should be clear. Beginning from a simple 2D sketch, an engineer can use a program like SolidWorks to draw out your invention with its features (pumps, hooks, handles, or what have you) as the foundation, making changes to the size, shape, or texture while ensuring that the critical features of the invention remain prominent and intact throughout. This, in turn, enables you to visualize what your invention would look like in different shapes and sizes before it physically exists.

SolidWorks also contains simulation technology that allows your engineer to see how a certain design would behave as a physical object. (For instance, whether your invention will lose durability at a given size or weight can be gauged using simulation.) Designs deemed problematic or cumbersome are then abandoned on the computer screen, at relatively low cost, rather than after being physically created.

Another helpful feature of SolidWorks (which some other programs have since copied) is the ability to “roll back” through every drawing of your invention that exists. For example, let’s say you have ten drawings created of your invention at various stages of its development. Chances are that each of these drawings contains different features, sizes, geometric dimensions and other differences from the drawings before or after it. However, because of the rollback feature, you or your engineer can quickly and easily modify an older drawing in any way deemed necessary without messing up the other drawings.

A typical drawing created with SolidWorks – of a stapler, in this case – looks something like this:

Need technical drawings of your invention?

Idea Buyer LLC recommends Product Development Co. for inventors seeking professionally-crafted, industry-standard technical drawings. Using SolidWorks, PDC’s team of experienced engineers utilize a time-tested, five-step process beginning with a basic surface model and ending with a comprehensive technical drawing that a manufacturer can take into his hands and create your invention with. The process typically encompasses 4-6 weeks and involves the following steps:

Step 1 – Engineering/3D CAD Development: The first step involves creating a 3D product surface modeling of your invention similar to the 3D car drawing shown earlier. At this stage, PDC’s engineers will also conduct a critical analysis and simulation of your invention’s design, looking not merely for what “might” or “would” work, but for the best, most cost-effective design possible.

Step 2 – Structural Analysis: With a professionally designed 3D product model in hand, the next task is to conduct what is known as a finite element analysis (or FEA) on that design. In a nutshell, this involves running a number of simulations and stress tests to determine how your invention (as laid out in the 3D model) will respond to stresses, strains, and reaction forces. Will it break if someone pushes it too hard? Will it hold up under heat? How will it react to repeated use? These and other questions are answered definitively in this stage, as the overall structural integrity of your invention is rigorously tested by PDC’s engineers. Your invention will also be assessed in terms of its weight, with an eye toward eliminating needless bulk and size.

Step 3 – Virtual Prototyping: Once your 3D product model has shown itself to be reasonably stress-resistant, a virtual prototype is developed based on that model. Essentially, this involves optimizing the model created in step 1 and validated in step 2 so that it can be created using the most cost-effective manufacturing procedures and materials. The end result of this step (from your perspective) will be an interactive 3D image that you can twist, turn upside down, zoom in or out of and see from every angle in as much detail as you wish. Manufacturers actually prefer to receive prototypes in this format because it is easier to rework a virtual prototype than a physical one. It also makes for easier communication between you and the manufacturer.

Step 4: Form Fit Function Testing: All that remains after virtual prototyping is subjecting the prototype to Form Fit Function tests. Very simply, form fit function (or F3 in engineering-speak) encompasses your invention’s identifying characteristics. Wikipedia defines each of these as follows:

Form refers to the “shape, size, dimensions, mass and/or other visual parameters which uniquely characterize an item. This defines the “look” of the part or item. Sometimes weight, balance and center of mass are considerations in form.”

Fit refers to “the ability of an item to physically interface or interconnect with or become an integral part of another item or assembly. This relates to the associativity of the part in relation to the assembly, or to other parts, and includes tolerances.”

Function refers to “the action[s] that an item is designed to perform. This is the reason for the item’s existence, which also includes secondary applications.”

This step, then, involves ensuring that the virtual prototype created in step four includes each of these things and that any manufacturer or engineer can clearly discern them by looking at your technical drawings.

Step 5: Final analysis: When each of the first four steps is complete, a final analysis is performed to ensure that everything has been done correctly, according to standard and without oversights. Loose ends are tied up and the end result is an invention ready to be created by any manufacturer willing to do the job.

To learn more about Product Development Co and its services, visit their website today.

Vall Iliev is the president and CEO of Vallmar LLC, Stow, Ohio, www.vallmar.com, a product development and management company founded in 1984. Vallmar works with inventors to design, plan, develop, and validate ideas so they may be patented and brought to market. Vallmar clients range from individual inventors to large manufacturers and nationwide retailers.

Phase One: Research

Phase Two: Development & Realization

Phase Three: Presentation Material

Phase Four: Pitching to Companies

Each week our newsletter has covered a phase in this process. Following the process should save you time and money, while greatly increasing your chances of success.
This week we explain the last phase of the process, pitching to companies. If you have missed a phase of this series, you can find the articles archived here.

Phase Four

Step Ten: Generate Interest

Time: 30-50 Hours

Money: $3,000-$8,500

Now that you have all of your pitch material compiled, it is time to generate interest. This process has two steps: 1. Generating interest among potential customers and 2. Generating interest for the sale of your patent.
The goal of the first step is to get potential customers excited about your product. Ultimately, you should aim to walk away from this process with letters of intent or purchase orders. Any LOI’s or pre-orders will greatly enhance your position when trying to license or sell your patent in the next steps.
Press releases should be sent out to publications with readers that are in your target audience. Many publications have “New Product” sections where a spotlight is given to products that would be of interest to readers.
Interest in your patent can be generated through advertising that your patent is for sale. Again, it is important to advertise in places where the people you are targeting, are going to read it. Online marketplaces like, IdeaBuyer.com, can help you to promote your patent to people who are looking for intellectual property. For instance, your patent on a home product would be best advertised to individuals looking to purchase or license patents specifically in home goods. IdeaBuyer.com allows Entrepreneurs, Retailers, Manufacturers and Distributors to choose which patent listings they would like to be informed of. As a medical supply company, it is likely that their interest is only in patents regarding their same field.
Don’t forget to think outside of the box on places to advertise:

• Magazines
• Newspapers
• Craigslist

Although, it may seem unusual, the key is to ADVERTISE IN PLACES WHERE YOUR TARGET AUDIENCE WILL BE EXPOSED.

Step Eleven: Contacting Companies

Time: 30-60 Hours

Money: $2,000-$4,500
Before making contact with any company, be sure to refer to your market research regarding which companies to contact. Of the several companies that you may feel would be a good fit for your product, choose the five with the most potential to contact first.
*By starting with only five companies, you will have fewer conversations to manage.
When you decide to make contact, use the method of communication that they prefer. Email will typically be the best form of initial communication for most professionals. However, it may be necessary to contact the head office in order to find the name and contact information of the person you need to contact.
(For step-by-step in-depth information on contacting companies, please see A Foot in the Door, our guide to contacting companies.)

Step Twelve: Sign a Deal

Time: 20-30 Hours

Money: $750-$6,500
As you begin negotiations, it will be important to not let the excitement get the best of you! Hiring someone to help you through negotiations is highly recommended.
Benefits of hiring negotiation help:

• You are not alone! Imagine being in a boardroom all alone, trying to talk to ten people all while attempting to understand the terms of the agreement.
• Now, it’s two against ten! You have someone on your side to make sure you understand all terms of an agreement correctly.
• You get to be the good cop! When hiring someone to handle negotiations, they will be the person to play bad cop in order to get you a good deal!

Food for Thought from Past Articles:

• When you license a patent, the first decision should be whether it will be an exclusive or non-exclusive license. In general, people looking to license your patent will prefer an exclusive license. This way, they will be the only ones allowed to profit from the patent, and have the right to enforce violations of it if anyone tries to “copycat” what they end up bringing to market. However, you may prefer a non-exclusive license.

• As the name suggests, a non-exclusive license grants someone rights to utilize the patent, but on the understanding that you may license those rights to others as well. For obvious reasons, potential licensees do not usually like this kind of licensing deal. It creates the threat of competition in the future that will make their lives harder. However, some licensees will agree to this, and it would be advantageous to try and work out such a deal.

• One of the biggest fears you may have as a patent holder is “What do I do if the licensee fails to capitalize on the patent?” Not every licensing deal works out as hoped, and this is a reality you must in some way face. Therefore, you may want to write certain requirements into the contract so that you can revoke the license if this happens. These are called performance obligations, or milestones. Simply put, you can write sales targets, profit margin expectations, or just about anything else that both parties agree on into the contract. If the other party does not meet these obligations, you can revoke the patent.

• Another way to ensure that your financial needs are met is to simply use royalty requirements. Under this approach, you do not require them to capitalize on the patent in any specific way. Your only concern (and the only thing written into the contract) is that by X date; you want to start receiving Y dollars in royalties on a monthly, annual, or semi-annual basis. This might be worth looking into if you want to get paid, but don’t want to be hassled with figuring out what reasonable sales or profit targets are.

• Signing does not necessarily mean all of the work is over. You should be continuing to manage the relationship with the buyer or licensee of your intellectual property, to make sure that the agreement is being fulfilled.

For more information on this newsletter series, or if you are looking for help moving your product forward, please feel free to email me at: Lindsey@IdeaBuyer.com
Recommended Service Providers and Resources for Phase Four:

• A Foot in the Door – Company Contact Workbook
• IdeaBuyer.com – Start Networking with Companies and Create a Listing!
• Five Key Networking Tips for Inventors
• How to Sell a Patent

Recommended Service Providers and Resources for Phase Three:

• Product Development Co – Professional Presentation Material
• IdeaBuyer.com – Patent Promotion to Companies

Recommended Service Providers and Resources for Phase Two:

• VallMar Studios LLC – Engineering, Prototypes, CAD
• Legal Zoom – Provisional Patents, Trademarks & Copyrights
• Patent Help Now Articles: “Choosing a Patent Attorney”

Recommended Service Providers and Resources for Phase One:

• Product Development Co – Market Research & Product Design
• Patent Help Now Articles – “Searching for Issued Patents”

Lindsey Yeauger is the Product Marketing Director for 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 her at Lindsey@IdeaBuyer.com.