You might have had an epiphany and have thought of some amazing idea for a new invention that you think a lot of people will find it useful. But without a good plan to make your invention ideas come true, you will never make any profit off of them. Invention ideas may come and go all the time, so make sure you write them down and follow our guide to help you make your invention a reality.
1. Record and document your idea
When it comes to profiting from your invention ideas, the first step is to get yourself ownership rights of this invention. You will not be making money from an idea just by envisioning it, you must have documentation and a record that you were the first to think of this invention or potential product.
This is why you need to make sure you write down every single detail about your idea. Write down the design, concept, the marketability of the invention, target audience, and pricing. You can put all this information in an inventor’s journal. An inventor’s journal is any notebook with numbered pages where they can’t be reinserted or removed. This kind of notebook can hold out in court. Make sure you have someone to witness your idea and sign the journal.
2. Make sure your invention is not already taken
If you have not heard of your invention ideas ever before, that does not mean that you are the first to come up with it. This is why you should first make a patent search. If someone else can claim that they have had the idea before you, they could also claim all your money from the sales of your invention.
So make sure you make a patent search to check if anyone else has already patented your invention. You can do this by yourself, no need for a lawyer. You can also search for any design or artwork that is related to your invention. If this art does exist, you probably will not be able to patent this idea.
If you want to make sure your new invention idea is a success, then you should consider getting an expert. Learn more about invention experts.
3. Do some research to find out if your idea is marketable
It is easy to think that your invention idea is perfect and that everyone will feel the same about it too. However, the only way to find out if that is correct, you will need to do some research. Ask any of your potential customers what they want and then make sure to listen. Knowing what people are willing to spend their money on will you give the idea of whether you should keep moving forward with your invention. Customer feedback is essential for any kind of product.
4. Have a prototype ready
If you want to work out any of the flaws and problems of your invention, you will need to have a working prototype of your product. You should never file a patent until you have a completed prototype of your idea because you will not be able to do any changes to your invention after filing the patent. So make sure you have a product that you are happy with before patenting it.