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| 02 - Small Talk for Small Business General talk about Starting a Business -- Sponsored By: Opportunity World Magazine Featured Opportunity: Make Millions in Real Estate Featured Opportunity: Rotovac - Carpet Cleaning Business Opportunity |
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#1
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About a year and a half ago I came up with a new cable design based upon customer complaints. Not complaints about my products, just complaints in general. 90% of network labs have this problem. My design would add almost no cost to the end-user. If there current setup on this situation was $460 per 20 servers, my designs cost would probably equate around $560. And thats if I get greedy. But many lab managers have already expressed an interest.
Anyhow, I vaguely looked into the idea, but not receiving much support from loved ones I dumped it. This last week the need for my product came up again while visiting customers with VERY large labs (think 3,000 servers). The headache part? I don' know how to take the next step. Part of me just wants to give the idea away to some main manufacturers just to see it become a reality because the product is a needed one in the industry. But another part of me feels like I'll regret it if I don't try to earn some revenue from it. And that part of me is not to trusting to the many manufacturers who I work with that could potentially build first articles for me. I'm thinking about making rough drawings and sending it to a company after having them sign an NDA this week... assuming they will sign. I think if I had a first article/prototype I could pitch it to quite a few larger companies. I wouldn't really want to sell the idea to any one of them, as I'd like to see them all use it. Maybe licensing or something, or an agreement to have them purchase the actual cables from me. Just venting. The internet is full of invention websites, blogs, forums, and whatnot, it's hard to fish through the crap to find legitimate information... I guess I'm worn out before I even get started because I know this will be a long road, but I feel strongly that I should walk it.
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Warmest, Greg [url]http://www.bilingualjapan.com[/url] |
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#2
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If you're convinced that it is a needed improvement then get it patented as soon as you can. Then you can talk about it all you want to interested ears whom may be able to help get it in to production.
If it's a product that is needed and can solve some problem then go get the ball rolling! |
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#3
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In marketing terms, you have "differentiation" with such a product. That means you can set your product apart from all others in the market, which is a very good thing to do.
If you can patent it, that's even better. Get an International patent and keep the production in the US. Many offshore sources would think nothing of stealing your idea if they get the specs to produce it and sell a cheaper knockoff regardless of patent laws. |
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#4
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Yea definitely patent it first. I have always thought that those "submit your invention" sites were scams to steal peoples ideas. Make sure that you investigate the companie that your are going to submit the idea to, and Make sure that it will be profitable. In some instances it would be wiser to just sell your idea for an upfront cost, and others you may benefit greater by earning a percent of all revenues generated from your product.
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#5
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Yes it is definately a needed product in the market. I wish I could share. But basically the only analogy I can come up with is... "whenever we stop I am thrown forward in my car, and when we get in wrecks we hit the dash and the steering wheel, and the windshield" baddabing baddaboom, the seatbelt.
I feel this product is just as much of a "duhism". Quote:
Quote:
I don't really want to sell my idea to any one person, I rather see all the main manufacturers adapt it because it could really be helpfull for a lot of folks. I've been in contact with one manufacturer who I know could build it for me, but again my concern is that they could steal the idea. I'm not egotistical, I don't believe it's the best thing since sliced bread, and I'm not sure that anyone will take it, but I feel strong that it's worth holding on to and going after. Know what I mean? I'm going to buy a book (or go to the library) on patents. Any suggestions? How long does it usually take? It's my understanding the "patent pending" label lasts for 1 year and costs $80-ish. I invented another item that everyone told me to give up on... two years later I saw it at Fred Meyers... I figured I'd learned my lesson.
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Warmest, Greg [url]http://www.bilingualjapan.com[/url] |
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#6
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Your description is too vague to make any accurate or useful comment. Can you be more specific?
Also. Have you done a patent search if it is patentable? I suspect it is not patentable, as you seem to have a process, not a novel, new idea. If it's just a new way to cable up things then join the queue. |
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#7
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First things first; apply for a patent. There is no such thing as going out and getting a patent. It’s just not that easy. You can at least apply for now.
Next; develop a couple of white papers that identify the need and functionality of your particular product. In marketing terms, if you can consider this a “new-to-the-world product”, writing white papers to substantiate the product will make the patent process easier and it will make those you seek as customers a little more interested being that you have a patent application. This does not mean “patent pending”. Licensing is a great idea, only after you’ve incorporated your business and have patented the product as well. For now, a partnership with your current customer seems a viable alternative. Your white papers should help you write a confidential proposal identifying your rationale for presenting the product. It sounds to me as if you are still motivated to see this through. Try it. Failure is in those who never try. |
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#8
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Dustin I agree with everyone about getting the patent process started. Do some research if you have to, but get the application as soon as you can and begin filling it out.
Here's the lnk ot the US patent office. http://www.uspto.gov/ It's probably a good place to start. If you're feeling unsure about some of the business end of the new product you could find someone to partner with on it. You'd still be able to make money off the idea that way and if you find the right person for a partner you may end up making more money than you could doing it yourself. And if you partner with someone on this pay attention to everything they do so when your next idea comes along you have the option to go it without a partner. |
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#9
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Thanks!
Steve, already scouring the link, thanks for posting ![]() Quote:
Quote:
__________________
Warmest, Greg [url]http://www.bilingualjapan.com[/url] |
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