A couple years back I designed a 'fishing tool' which will take a fishing line offshore. Can go as far as your fishing line is long. Actually designed a few different ones for different applications, rivers, ocean, off the beach, from a boat... Anyway, never thought too seriously about it until the other day decided to build a real slick model. I was down the beach talking to this old bloke and showed him one of my older models but couldn't launch it due to very strong winds. Correction, it would have launched but possibly may have got damaged. I went home and thought again and I'm now building a real strange concept model which will tackle heavy winds and probably would go thru surf. My son is quite a savvy bloke so we discussed creating a web site and selling the plans. However on further consideration thought perhaps a better idea would be to sell the concept to a multinational like Mattel. Any suggestions on this?
If you think it has real merit then you should strongly think about a patent. Takes a few bucks to hire a patent lawyer, but could be worth it. Patent process takes a long time, mine took about 5-6 years. Without patent protection all your work could easily be stolen. But I do like the idea of a website and selling plans. And don't forget about jumping thru the hoops to get it on Amazon. Instant exposure to millions and millions.
I do business for a few inventors (I manufacture the product and they figure out how to sell and how distribute it). None of them have made A LOT of money doing it. Some have made a living. Not one of our "inventors" have successfully sold a concept to a large corporation, nor has any inventor had their idea stolen from a large corporation. Most either direct sell their product or find a distributor and sell through them. There are companies (especially in the toy industry) which will distribute your product for you (and take a significant 30% haircut) - but its your product even if they brand it otherwise.
After 5-6 years awaiting patent process? Years ago I designed and began to build a prototype rotary firefighting nozzle. Also in conjunction was a rotary sandblasting nozzle. Both of these were quite a complicated design and involved exotic metals, but after thinking hard about it gave up. Thought the patent process was too hard and defending the patent too expensive if it were stolen. Figured I would go to lots of expense and hard work for nothing after getting it stolen by you know who nation. The latest idea re fishing tool is actually a simple concept. Everyone will kick themselves "why didn't I think of that".
Wait...what? China doesn't respect patents?? Sounds about right - for the small time inventor, patenting and defending is probably not worth it. But definitely start an LLC or the like, if you start selling them. FWIW I live near Bass Pro world hdqrts and I think they would sell your product if it worked well and you could supply enough units. I believe they try to help the small guy.
Thx. I didn't wish to build or manufacture for customers, that would be going back to slavery for me, would rather either just sell the plans but that creates another problem, after a while the concept will become publicly available, the idea will go onto fishing forums for example then my idea of selling the plans will dry up. Having a large company manufacture & sell etc would be better, even on 5% commission to me.
The paper dart us a simple concept to create but if people had never seen one before they would never have guessed. It's still amazing how even now new product come out on the market with simple concepts
You are underselling your contribution at 5percent. Do some research on how to build a business around your idea. You don’t need a large company to manufacture and sell it. But that is for you to figure out how to best monetize your idea (and if it monetizable)
Patent first, then begin to manufacture after 6 years? What about marketing, distributing, packaging? I didn't want to get into being a business owner, there are others who are more efficient and professioal than me who could do this, I didn't wish to re invent the wheel, just sell the concept to someone who has all the connections. If I sold the idea, would I need a patent first?