[RedEvo]

I've invented a product, applied for a patent and I've got a prototype that's been used in anger and it worked. I've started some dialogue with a potential development partner but in reality I'd be happy to just sell the idea and walk away.

Assuming they like the product is this kind of exit a possibility?

d

[Alvin]

Originally Posted by RedEvo

I've invented a product, applied for a patent and I've got a prototype that's been used in anger and it worked. I've started some dialogue with a potential development partner but in reality I'd be happy to just sell the idea and walk away.

Assuming they like the product is this kind of exit a possibility?

d

Been down this road.Very tricky.Depends what your product is.

My advice is to try to produce the product your self initially.

I took a product around all the large manufacturers.Response in the main was "The idea has merit but we are not interested in producing it at the moment".

After a year of trying to punt the idea I lost heart.:sad1:

2 years later I saw my product being produced by one of the companies overseas branches where I had no patent protection.

That product is now in every garage and engineering works in the world.

The company involved had the letters DB in its title.

So tread very carefully.

Alvin

[consultant]

As Alvin says, it does depend on the product.

There are a couple approaches you can take:

Sell the concept outright.
You may not get what you think the true value is (dont mean to sound rude, but most people overvalue ideas, anyway!)
Licence the concept
Let someone else do the hardwork and you could get a lump sum and royalty payments
Work with a company
Join a company on an exclusive project basis, where you could get regular payments that grow with the projects success.
Do it yourself
The most work but potentially the most rewarding.
This does not necesarily mean personal investment or a lot of hard work.

You must weigh up the risk/rewards to fit your own requirements!

[fee]

why would you want to sell it at this point......it could be a biggy.......id just get someone onboard as a business partner and not a company and sit back and be a silent partner..........

[Alvin]

As Fee says that may be a better route for you ,depends on the cost of bringing the product to market.

Alvin

[RedEvo]

Cheers all. The idea is simple and it works and there's a global market. I simply don't have the inclination to be too involved with the development of it.

License sounds good but no doubt an 'overseas office' of one of the companies I've approached will run with it

d

[fee]

Depending on what it is oviously- There are ways and means of doing it without it costing a packet........

[Alvin]

Originally Posted by RedEvo

Cheers all. The idea is simple and it works and there's a global market. I simply don't have the inclination to be too involved with the development of it.

License sounds good but no doubt an 'overseas office' of one of the companies I've approached will run with it

d

Don't quite understand your reluctance to get involved.

The rewards from a successfull invention could overshadow everything else you may do in your life.

If I had a penny for every disc brake fitted to motorcycles.

Alvin

[Beneddie1112]

Originally Posted by Alvin

Don't quite understand your reluctance to get involved.

The rewards from a successfull invention could overshadow everything else you may do in your life.

If I had a penny for every disc brake fitted to motorcycles.

Alvin

Your idea was motorcycle disk brakes?

[Alvin]

Originally Posted by Beneddie1112

Your idea was motorcycle disk brakes?

I wish

No we developed them into a practicle application in 1964.

Alvin