New tool concept

[Studio-N]

Don't forget that these days you can go the CrowdFunding route or a Kickstarter progam to produce it yourself. however, you would have to disclose it.

You can always do like Glowforge laser and collect millions of dollars for a product that has yet to ship.

[Boriqua]

I have seen some Alibaba manufacturers offer some great pricing on multiples. If you believe in it enough fund a smallish run, cross your fingers and go for it. You only live once and you dont want to be old, looking in the mirror and wondering if you missed the boat.

[graywolf]

One thing you have to know about patents. To protect them you have to use the laws. That means legal fees. And in my experience who wins is the guy with the most money. e.g. Telsa v Edison, Armstrong v RCA, as an example. Both Telsa and Armstorng had the patents, both lost. When you get involved with the law, the only winner really is the lawyers. Also, when they work, patents usually only pay off in royalties, typically 1% or 2%.

The best way to use patents is to invent something then lobby to get a law pasted requiring its use, like that third brake light on the back of you car. For that to work, you obviously need a patent.

On the other hand, if you just sell something and spend the money as it comes in, it does not really matter if someone has a patent on it, they cannot get money that isn't there. So basically all they can do is get a cease and desist order on you. Current tax law keeps you from warehousing a large stockpile for them to confiscate, anyway. This of course applies in both directions.

Once again, the law favors those with money. Or, "Money talks, others walk".

Disclaimer: The above is personal opinion, I am not licensed to practice law.

[johnv474]

One way to keep track of your idea that *is* accepted by courts is to use the proper methods for your details, drawings, etc. A website called Scientific Notebook Company, snco.com, sells notebooks for just this purpose, and includes instructions on how to use them in a way that will hold up in court. Basically, you keep all of your ideas and notes about the product on the dated pages and have others sign as witnesses to the date/work.

[johnv474]

One option is just to start making and selling them yourself. They will get knocked off anyway so you may as well be the first one making them.

Out of curiosity, is this type of invention something you would expect to be in the hands of professional shops (i.e.price of $1k+) or something that the average hobbyist might pick up on a him (say, $20)? I would imagine it's somewhere in between, but just to have some idea.