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Casual Articles - Invention Marketing and Licensing for the Inventor
Many small business owners like us have a difficult time asking for business. It's not that we don't want the business, but wouldn't it be so nice if people just handed over their money for our product or service rather than our actually having to ask them for it?And this is one of the most common ways that small businesses stay really, really small, and sometimes peeter out altogether. They don't ask for the business, or they don't ask for it often enough to create a successful and sustainable business.Here are 5 easy ways that you can ask for the business that if you implement on a consistent basis will guarantee that your business - and your bottom line - will grow.1. Ask what they want...The #1 way to grow a profitable business is to offer what your targt market wants. And
Obtain Financing - Building prototypes and filing patent applications require funds. Finding that initial start up funding is often difficult; however, there are two tried and true methods, namely partnerships and incorporations. A signed partnership agreement is one way for a few people to pool their financial resources into a project. If several investors are involved, then
The cleaning chemicals your janitorial company uses every day come in various forms: ready-to-use, concentrated, and dilution control systems. Cleaning companies are using dilution control systems more and more every day. They see the value in having a system that not only mixes what they need for a specific job or building, but also mixes the chemical in the right dilution every time. This "proper mixing" not only saves money, but helps to ensure better cleaning results as the chemicals are always mixed correctly.Dilution control systems have improved over the past few years and are now compact, easy to install and use, and some even have special features so you can easily fill buckets or auto scrubbers with whatever chemical you are mixing.Most people think that if a little chemical wor
Before you take any steps to market your invention, you should take a few preliminary steps.
Preliminary Patent Search - A preliminary patent search is generally a good first step. A preliminary search of various patent offices can be conducted for a reasonable fee (just contact a patent agent/lawyer), and it is even possible to conduct one for free (see the US patent office at http://www.uspto.gov/)
Patent Application - Don’t publically disclose your invention until after a patent application is filed. Publically disclosing the invention before filing a patent application can potentially ruin the chances of ever being granted a valid patent. In fact, many Companies will not even talk to you until you have filed a patent application.
Prepare a Formal Information Package - You should prepare an informative and concise information package describing you, your invention and the potential market your invention reaches. The package should include color photographs of the invention, and a one page executive summary.
Prototype - It is a lot easier to sell a product if potential buyers can see, touch and feel the product. Building a working prototype is often a key step in selling your invention. Of course, some products are difficult to prototype, in which case a non-working mock-up may have to do. In any event, create the most professional prototype or mock-up you can.
Obtain Financing - Building prototypes and filing patent applications require funds. Finding that initial start up funding is often difficult; however, there are two tried and true methods, namely partnerships and incorporations. A signed partnership agreement is one way for a few people to pool their financial resources into a project. If several investors are involved, then a
Indian textile tradition is the world's oldest textile tradition. The origin of indian textile can be traced back to the days of indus valley civilisation. Rigveda, the earliest of the Veda contains the literary information about textiles and it refers to weaving. Ramayana and Mahabharata, the eminent Indian epics depict the existence of wide variety of fabrics in ancient India. These epics refer both to rich and stylized garment worn by the aristocrats and ordinary simple clothes worn by the common people. The fragments of cotton material originating from gujarat found in the egyptian tombs support that discovery. There are occasional comments about the textile craft in most of the ancient indian writings as well. Indian textile was also exported to various countries since time immemorial. The history o
Preliminary Patent Search - A preliminary patent search is generally a good first step. A preliminary search of various patent offices can be conducted for a reasonable fee (just contact a patent agent/lawyer), and it is even possible to conduct one for free (see the US patent office at http://www.uspto.gov/)
Patent Application - Don’t publically disclose your invention until after a patent application is filed. Publically disclosing the invention before filing a patent application can potentially ruin the chances of ever being granted a valid patent. In fact, many Companies will not even talk to you until you have filed a patent application.
Prepare a Formal Information Package - You should prepare an informative and concise information package describing you, your invention and the potential market your invention reaches. The package should include color photographs of the invention, and a one page executive summary.
Prototype - It is a lot easier to sell a product if potential buyers can see, touch and feel the product. Building a working prototype is often a key step in selling your invention. Of course, some products are difficult to prototype, in which case a non-working mock-up may have to do. In any event, create the most professional prototype or mock-up you can.
Obtain Financing - Building prototypes and filing patent applications require funds. Finding that initial start up funding is often difficult; however, there are two tried and true methods, namely partnerships and incorporations. A signed partnership agreement is one way for a few people to pool their financial resources into a project. If several investors are involved, then
Procurement describes the acquisition of goods or services at the best possible cost, in the right quantity, time and place, for the direct benefit of the firm. The question now arises: how do you prioritize when you only have a limited amount of money to spend? That’s where the role of budgeting comes in.A budget is a quantitative expression of financial plans. How are budgets useful? Budgets induce management to think systematically about the future. They also serve as a device for coordinating the complex operations of the business, and provide a medium for communicating the financial goals of the firm.In order to be useful, the budget must be drawn up for a specific time period. Usually, the budget is drawn up for a year. The operating budget for the firm may be constructed in terms of
Prepare a Formal Information Package - You should prepare an informative and concise information package describing you, your invention and the potential market your invention reaches. The package should include color photographs of the invention, and a one page executive summary.
Prototype - It is a lot easier to sell a product if potential buyers can see, touch and feel the product. Building a working prototype is often a key step in selling your invention. Of course, some products are difficult to prototype, in which case a non-working mock-up may have to do. In any event, create the most professional prototype or mock-up you can.
Obtain Financing - Building prototypes and filing patent applications require funds. Finding that initial start up funding is often difficult; however, there are two tried and true methods, namely partnerships and incorporations. A signed partnership agreement is one way for a few people to pool their financial resources into a project. If several investors are involved, then
Customer relationship management, or CRM, refers to reliable systems, processes, and procedures that allow companies to better manage customer relationships. It is a corporate level strategy that focuses on creating and maintaining effective communication with its customers. Ideally, a sound CRM strategy should develop an end-to-end process that encompasses sales, customer service, and marketing.A successful customer relationship plan can manage all business-related operations and interactions with customers simultaneously. It often includes special software programs, called CRM programs, which aid companies in tracking and organizing their customer base.Customer relationship management is just that: learning ways to manage the happiness of your customers by giving them what they want, inc
Prototype - It is a lot easier to sell a product if potential buyers can see, touch and feel the product. Building a working prototype is often a key step in selling your invention. Of course, some products are difficult to prototype, in which case a non-working mock-up may have to do. In any event, create the most professional prototype or mock-up you can.
Obtain Financing - Building prototypes and filing patent applications require funds. Finding that initial start up funding is often difficult; however, there are two tried and true methods, namely partnerships and incorporations. A signed partnership agreement is one way for a few people to pool their financial resources into a project. If several investors are involved, then
India fast emerging as manufacturing hubIndia's technological prowess coupled with a favorable industrial climate is making the country a hub for not just software, but also the manufacturing sector, the Commerce and Industry Minister Kamal Nath reported at the World Economic Forum held at Davos. According to Kamal Nath, the hub of world economic activity is shifting from the Atlantic to the Indian Ocean. India's technological skills together with its attractiveness as a manufacturing centre are fast making it the hub of not only IT-enabled services but also manufacturing.Superior quality manufacturing centers: Geared up Indian Garment Industry The diversity of India can be discouraging for any visitor, more so for a person who plans to start a business from such a huge country without an
Obtain Financing - Building prototypes and filing patent applications require funds. Finding that initial start up funding is often difficult; however, there are two tried and true methods, namely partnerships and incorporations. A signed partnership agreement is one way for a few people to pool their financial resources into a project. If several investors are involved, then an incorporated company is a better method. Essentially, the company takes ownership of the invention and the investors contribute money to the company in exchange for shares. The number and price of the shares can be tailored to suit the particular needs of the project.
Now that we have dealt with some of the preliminary issues, let us look at the mechanics of selling your invention to a company. The actual steps in the process are as follows:
1. Compiling a List of Potential Buyers - Finding a company that is willing to buy the invention is the most challenging part of the process. It begins by generating a list of companies that may be interested in the invention. You can use a business directory to generate that list. Business directories list companies by the products they manufacture (or services they provide) and include basic information about these companies such as their address, phone and fax number, and the name of the president (CEO or owner). Suitable business directories may be found in the business section of the local reference library.
2. Contacting Potential Buyers - Your list of potential buyers may include literally hundreds of companies. You simply call up each company on the list and ask them if they would be interested in receiving a solicitation for a new invention. Then get the contact information about who in the company to send your information to.
3. Presenting the Invention to Prospects - After you have thinned out your list, your next step is to submit your information to each of the companies on the list. This may involve calling the people identified to be the “contact” for new product ideas and telling them that you are sending them an information package abou
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