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anyone ever sought after a patent?

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Forum topic by Holbs posted 516 days ago 688 views 0 times favorited 12 replies Add to Favorites Watch
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Holbs

428 posts in 530 days


516 days ago

suppose… you just brainstormed a fantastic idea in regards to retractable bench wheels. You jump in the workshop and create a mockup / rough draft to ensure it functions. Something that would appeal to all genders and age with it’s quick and ease of use and low physical impact. With all the searching of hidden, retractable, swing out of way, etc workbench wheels and failing to find something ideal… I think this could go commercial with success.

has anyone sought after a patent for something they created?


12 replies so far

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Loren

6752 posts in 2148 days


#1 posted 516 days ago

I have not, but I did read a book called “How To License Your
Million Dollar Idea” which describes a pragmatic approach
for turning product ideas into income, whether or not
they are patentable. For that matter, patents can be
costly and impractical to defend in today’s knockoff economy,
particularly if the patent holder lacks the capacity to
meet market demands.

View redryder's profile

redryder

2062 posts in 1602 days


#2 posted 516 days ago

I would think the first thing you would need is a good patent lawyer who can offer sound advise…................

-- mike...............

View Tedstor's profile

Tedstor

1369 posts in 1133 days


#3 posted 516 days ago

Problem is, a company like Sears will simply steal your idea and begin building their own version of your product. An avg joe would have to spend millions just to have a chance to defend their patent. Heck, even fairly large companies often have to sell their patent rights to mega-large companies that can fend-off corporate parasites. See the link below. Sorry to be a cynic. But today’s patent laws favor the deepest pockets.

http://finance.yahoo.com/news/popular-wrench-fights-chinese-rival-004542621.html

View Gshepherd's profile

Gshepherd

1365 posts in 702 days


#4 posted 516 days ago

I will echo what everyone has said here…... Sad, you write and sing a song, someone else makes a song close to it you nail them, invent a great product you best have deep pockets….. By making everything so hard and expensive has eliminated a lot of great and sometimes life saving ideas from ever being offered….....

-- What we do in life will Echo through Eternity........

View Loren's profile

Loren

6752 posts in 2148 days


#5 posted 516 days ago

In some cases, the idea may not have a real broad appeal
and be specialized enough that you can set up to make
it yourself and these days even sell direct to consumers
(more or less) through outlets like Amazon. Lots of
woodworking aids are sold this way and there is often
not enough incentive for offshore knock-off firms to
bother with the English speaking market if they
copy the product at all.

In other cases, you can go to a firm that makes and
sells such things… Woodworkers Supply, Lee Valley,
Rockler, and so forth and work out a deal. While
they can screw you over if they want to, reputable
firms understand that inventors come up with more
than one marketable idea in their careers. If your
idea is really an innovation like the wrench in the article,
then there’s cause to patent it. The article said
the company making the wrenches in the states laid
off 31 workers, and that tells me that this is a mass-market
tool innovation that is worth fighting over.

In the case of lots of products however… kitchen gadgets,
toys, and wood products, the reality is that even if
patents can be obtained, they are not defensible
and the best strategy is to get the product on the
market and sell as many units as possible before the
knock-off firms produce and ship (typically 2-4 quarters)
to retailers.

View Jim Finn's profile

Jim Finn

1500 posts in 1422 days


#6 posted 516 days ago

Patents are so easy to get around that if I had a product unique enough I would just start manufacturing it and selling it. When one of the deep pocket guys starts to make them just drop the product and invent another. You could put the words “Patent Pending” on your idea. This may slow some folks down a bit .

-- In God We Trust

View Monte Pittman's profile

Monte Pittman

10801 posts in 838 days


#7 posted 516 days ago

Unfortunately there are people who specialize in stealing ideas. I agree with building and marketing it yourself as much as you can. Get what you can out of it and run.

-- Mother Nature created it, I just assemble it. - It's not ability that we often lack, but the patience to use our ability

View getlostinwood's profile

getlostinwood

224 posts in 1103 days


#8 posted 516 days ago

You can file a provisional patent for about $300 dollars. fill out the paperwork yourself it’s not that difficult. The provisional is intended for a one year timeframe in order to give the inventor time to finalize the design but get some protection. In reality you would want to use it to get some market share before the big guys jummp in. If your market share is profitable enough then worry about going full bore and hiring lawyers.

-- The basis for optimism is shear terror

View exelectrician's profile

exelectrician

1355 posts in 928 days


#9 posted 516 days ago

Check the statistics on how much you invest in lawyers and marketing versus the return you get for the endless stream of cash you pay to the lawyers, and you will soon find out for yourself – IT IS NOT WORTH IT .

Go to PopCap industries for good free honest practical advise first.

I totally agree with Jim Finn – the first to market wins and like a good poker player – ya gotta know when to fold.

-- Love thy neighbour as thyself

View Grandpa's profile

Grandpa

2982 posts in 1176 days


#10 posted 516 days ago

The man that came up with the over flow tank idea for car radiators did patent it. He sold them for less than $10 in discount stores. Several years later all the car makers were using the idea so he sued them and won MILLIONS. Honda held out since they were a foreign company. The US courts told them they could pay their fair share or stopp selling them in the US. They finally paid. I would not say it is impossible to win. Seek wise council and most of us are not lawyers on here.

View HorizontalMike's profile (online now)

HorizontalMike

6699 posts in 1414 days


#11 posted 515 days ago

Unfortunately, look up the guy who invented the windshield wiper delay:

http://www.autonews.com/article/20081002/zzz_special/810029938

No good deed goes unpunished…

-- HorizontalMike -- "Woodpeckers understand..."

View exelectrician's profile

exelectrician

1355 posts in 928 days


#12 posted 515 days ago

Yeah, Mike, I read he had a nervous breakdown and his wife left him. All that left is a downtrodden soul.
The auto makers smirking all the way to the bank. The patent attnys,. sitting high and dry on a pile of his cash.

-- Love thy neighbour as thyself

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