New tool concept

[RockyAussie]

Welding/metalwork I would say no more. Check on google for the patent, that is fairly easy. If you cant find it after a heavy search then a patent application is not that dear. If approved you then have something to sell or license.Keep in mind if you can get a good batch done and the cost is affordable than many would buy from you anyway and the cost of patent is often debatable anyway. If you have not the money to protect the patent then better to you the money to swamp the market as best you can and they cant patent it if it is already common knowledge. Get my drillft.

[joker]

Did some digging around on Google search today. Couldn't find anything like what I built. So I'm thinking maybe the cat isn't out of the bag just yet.

[joker]

Hey guys, thank you for all the input on this, I really appreciate it. I haven't posted much on here for awhile. Between my full time job and my leather work it seems like I go 24/7. There were some good response to my question. One thing that bothered me though was the inquiry's about what my idea was. This is something that I put a lot of time and thought into. I would just hate to see it end up with someone's else's name on it. I know there are people here that are a lot more knowledgeable about this subject than I am. Just to easy for someone with the backing and financial means to take and run with my idea. 

Thanks for all the help guys

Joker

Edited July 21, 2016 by joker

[Studio-N]

You said the evil empire wouldn't consider it. Have you tried Springfield Leather as a possible patron?

[electrathon]

The reason people asked what it was is often times you think you have a new idea and soon find out others already do it.  It is nearly impossible to converse about a topic without knowing even the topic you are talking about.  Most ideas are not knew and most ideas are not financially viable.  Even the ones that are usually do not succeed due to the management of it.  People are not trying to steal your idea, they are attempting to assist you.

Assuming you can have this built (assuming you can not build a production run of it) for $4,000 each and assuming you can sell it for $6,000 each you can have a small run of them made for about $100,000 and assuming people want and like the unknown item you can likely make $32,000 profit in the next few years that it takes to sell it.  Deduct your overhead to run your company and you will know how much the product is really worth.  Most people find out that their item is worth less than they originally thought.  A few make money.

 

 

 

[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.