At some point, most hunters or anglers come up with product ideas. But how can you know whether you should turn this product into a reality? Here are some helpful starting points:
Questions to ask:
- Will my idea sell?
- How much will people be willing to pay for my product?
- How will I fund this project?
- How and where can I manufacture this product?
- Should I license this idea or manufacture and sell it myself?
- How will I get stores to consider my product?
- How will I get the word out?
- Which trade shows, consumer shows, and buying groups should I work with?
- What should the price structure be for various distributors and sellers?
- Should I get patent or liability insurance?
- Should I pursue a patent? What kind?
- Should I get a trademark?
- Do I have a non-disclosure agreement?
- Do I have a prototype? If not, how will I make one?
In the meantime, be sure to follow these tips:
- If you’re on a tight budget, consider starting with a Provisional Patent Application.
- Do not show your invention in public before you have filed for a patent.
- Perform a market survey to gauge whether your idea will be successful.
- Select an effective package design and name.
- Focus on short, effective selling points.
The attorneys at Cislo & Thomas LLP are experienced with every stage of the inventing process, from conception to design, prototyping, manufacture, and licensing. Please contact us today to arrange a consultation!