How To Protect Your New Invention And Build A Lucrative Business

By Thursday, June 26, 2014 0 No tags Permalink

The world is experiencing a terrible time economically, which is probably the main reason our job markets are suffering. In the past, you could simply visit a few businesses, drop off your CV and wait for them to get in touch with the perfect vacancy. However, at the current time there’s just too much competition, which is why unemployment rates are exceptionally high. With that in mind, I think it’s about time you started building something of your own. If you’re capable, inventing a completely new product and building a company around it could be the perfect solution to all your financial problems. Believe it or not, you don’t need a business or engineering degree to achieve this.

 

How do I know? Well, I invented a new product myself around twelve months ago, and I’m currently waiting for my patent application to be accepted. That means I’m almost at the end of the process and more than willing to give you some handy advice based on my experiences. So, get yourself comfortable and we’ll begin…

 

Protecting your new invention

 

As I mentioned only a moment ago, I’m quite deep into the process of getting a patent at the moment, but you’ll obviously have to start at the beginning. Unless you have some official qualifications or experience in the subject, it’s probably a good idea that you employ the services of a patent lawyer. If you’re unsure as to what these guys can do for you, there’s a wealth of information about patent attorneys at London IP. However, if you already understand their job, just search online to find the most reputable specialists in your area.

 

Once you’ve done that, you’ll have to submit your prototype and design documents to the company so they can start work on deciding whether or not it looks original enough to receive a patent. So long as it does, they’ll start the ball rolling for you.

 

Patent applications can take anywhere from twelve months to two years to process depending on how difficult it is for the patent office to understand your product and compare it to similar items. So, you just have to sit back, and start building your business in the hope you’re successful.

 

How to build your business

 

Firstly, you’ll need to think of a memorable brand name, and then start creating promotional materials. At the end of the day, you can’t start trading until you’ve heard back from the patent office, and so there’s no need to worry about bookkeeping and accountants at this stage. Instead, you should focus on researching marketing strategies and promoting brand awareness.

 

Packaging and such can be designed when you have the time, and getting suppliers ready in anticipation of receiving your patent is a wise move. When your application has been accepted, you’ll want to act fast to capitalise on your invention and achieve the highest level of sales possible.

 

As you can see, this is a straightforward process that even small children could handle, so try not to get stressed about anything. Your biggest concern is the patent, but once you have that, the road ahead is pretty simple.
Good luck!

No Comments Yet.

Leave a Reply