invention idea

What You Should Do With An Invention Idea But No Money

You have a lot of ideas, you are a good innovator, you have been informed and realized that the world can benefit from your innovations. However, you can’t start because you don’t have enough money. What to do in such a situation? Don’t despair, because a solution exists. We will try to give you an answer to the question: What should you do with an invention idea but no money?

Inventors And Their Works

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Mankind has always strived to know the laws of nature that surround us. We wanted to tame and use the forces of nature for our benefit, thus trying to improve our lives through the millennia. Known and unknown people are responsible for the knowledge we have – and for the opportunities that are provided to us today. Learning, researching, and enabling the application of new knowledge will never stop – because the human race is by nature curious, diligent, resourceful, and intelligent.

Everything that has ever been produced in the world has been invented, designed, refined, and improved by countless people. They have brought their knowledge, effort, and commitment into their work – which is why many great inventors and innovators have indebted humanity. But all that wouldn’t have happened if they did not have someone next to them who believed in them and their invention.

Inventions Require Investing

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There are significant differences between inventors and innovators. That difference is reflected in the fact that the inventor prefers independent work to create something completely new that will solve complex problems in the future – while the innovator more often strives for teamwork to create sustainable problem-solving work. customers by improving existing products and services.

Creating an invention requires scientific skills – while creating an innovation requires combining different skills such as technical and marketing. This, of course, requires money and investment. But what to do when there is none?

You Have An Invention Idea, But No Money?

When we talk about investing in inventions, we don’t just mean the money that sometimes needs to be invested in the invention process itself. In fact, some of the demanding inventions have required certain operating conditions, testing, and other forms of assistance that inventors sometimes so desperately need. However, this is only one aspect of the work on the invention.

Such endeavors are most often accepted by patrons who are enthusiastic and willing to invest their money in something they believe will succeed. On the other hand, even when you complete the work on your invention – further work is still ahead of you because your invention must be patented and pass various types of controls before it is officially approved.

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Protection Of Intellectual Property

In the 18th century, intellectual property rights in the field of technical and artistic creation – began to be legally recognized. Today, intellectual property is divided into industrial property and copyright and related rights. Protection of innovation is necessary for the innovator to have the exclusive right to use and dispose of the innovation – and to prevent interested competitors from using it illegally.

A patent is a way of protecting a new solution to a technical problem, industrial design protects the new appearance of the product – as well as the brand. There are also copyright and related rights which apply to the protection of works in the artistic and scientific fields. For many inventors, finding investment is key to directing their ideas and creating them in the right way. This is why you need to look at the investment and how you can secure it from the start of the business.

You Have An Invention, And Professionals Have A Solution

When it comes to inventions and patenting – you must have the advice or help of those more experienced than you. It is quite certain that you cannot complete the entire patenting and protection procedure on your own without the help of experts in various fields – from law to marketing.

So it’s a pretty good suggestion to find it all in one place. How? Fortunately, today there are companies like Invent Help – that can make it possible for you – you can learn more about it here. When you contact them, you can be sure that they will take over part of your responsibilities in legal, marketing, etc. – and then you will be more relaxed and able to dedicate yourself to what is your primary focus, and that is invention. Such companies offer you their practical services in the field of consulting – but also concrete solutions to issues such as patenting, legal protection, or later placement of your invention.

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Help Is Necessary

When dealing with an invention, you must have people around you who will help you in professional management. These are things that are not directly related to the invention, but its future placement. This will significantly relieve you from stress, allowing you to work further on your invention – making it better and more adaptable. So, try to be practical and give your trust to a reliable company that will be your best ally in the fight for success. It often happens that the experts of such companies point out some shortcomings or omissions in the working process. Therefore you have a better chance for your invention to break into the market. Remember that two heads are always smarter than one.

Find A Way For People To Hear About You

Marketing and promotion are also an integral part of this business. Your invention is your product – and every product has a purpose. Therefore, marketing is a very important component in the work of inventors. The basic way to start – is to promote through your website. This way, you will influence the improvement of your promotion. Not only does it matter here that people know the mere fact that you are an innovator – but you have to intrigue them further. Given today’s rapid sharing of information, you can expect people to share news about you if they are intrigued by your work. Also, this is a great way to reach new investors who would be willing to invest in your project. Therefore, try to be practical – even though creativity is something that makes up the biggest part of your job.

How to protect your idea and invention

Imagine that you have thought of an amazing marketable invention idea. What is your next step? You are now faced with a lot of questions and dilemmas. To make any profit out of the invention, you must license this invention to a business that is often a distributor or manufacturer who will invest in advertising, selling, and mass-producing. But there is a risk when pitching your invention that it might get stolen or no longer be protected by any laws. In other words, the company to which you are pitching your invention could steal it without paying you a dime.
So how can you sell your idea without the risk of losing your rights? To protect your invention, people often consider these two common strategies. You can either file a provisional patent application, or you can use a nondisclosure agreement.

To learn more about these two strategies to keep your invention and idea protected from theft, then make sure you read our short guide.

File a patent application

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If your idea qualifies for a patent, then it is a smart idea to file a provisional patent application and obtain a status of “patent pending. Usually, this kind of move will discourage all infringers, because they will see that you know what you are doing when it comes to protecting your inventions’ rights.

Nondisclosure agreements

If you realize that your invention idea is probably not patentable, the best way to protect yourself is to have licensees sign an NDA (nondisclosure agreement) before you show them your invention idea. This document may also be called a confidentiality agreement, but it is usually the same thing.

This kind of agreement must be first signed before you meet with the interested licensee or buyer and before you reveal any of your secrets about your new invention. If someone signs your nondisclosure agreement and later abuses your secrets without permission, you can sue the infringer for damages. The NDA contract is not a joke, and if the company breaches this kind of agreement, you can seek contractual damages and liability.

Nondisclosure agreements, typically contain one of these important features:

• Responsibilities of the party receiving this confidential information
• A definition of which part of the information is confidential or not
• Time periods of the agreement

If you have an invention idea which you believe in and you are sure it is going to be a marketable success, then check this if you want to see your invention come to life.

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Defining the confidential information.

All nondisclosure agreements provide a definition on which of the information listed is confidential. Any information which is discovered before signing the NDA does not have to be protected by the receiving party. This means that not every single piece of information during your pitch will be protected; only parts of the information that were specified in the nondisclosure agreement.

Time periods

This is an important factor of the NDA which specifies how long the confidential information must be kept confidential by the receiving party. This is usually done with negotiation since receiving parties will want a short period of time while disclosing parties will want as much time as possible.

If you are planning to pitch your idea to potential buyers, then make sure you keep our guide in mind and keep your invention protected.