How do you initiate a patent?
There is not really a follow through process to getting a patent, however you should first know what your market it, and the latest in technology related to the product. You should ask yourself the following questions and research the answers.
- How does the process or product work and will it work efficiently enough to replace the currently used ideas or products?
- Who will use the product and how much will they be willing to pay for the product?
- How difficult will it be to manufacture the item?
- What will the manufacturing cost be?
- What will be the marketing plan be? How much of a markup will marketing take?
- Will it be copied? Is this product worth patenting?
Answering just one of these questions and assuming that all is well with the rest is not the right thing to do. Its best to answer them generally, but answer them all then go back and get more detailed information received from thorough market research later.
All of these questions need to be thoroughly investigated, and assuming you have the answer may cause you some severe future financial loss. Most inventors believe their item is the best and that everyone will want it, but that cannot really be determined unless it is thoroughly investigated. Market research of this nature can be expensive, however not doing the proper research can result in even more expense and an ultimate failure, so it is highly recommended to hire professional help from a experienced company such as InventHelp.
There are rarely any ideas that are totally unknown. Most patents are improvements on old ideas, or it is a solution to a well known problem. You can start your market research by asking questions about the product in current use and what are the problems it has and what solutions people have given to it.
There are also other steps you can take while keeping the new invention secret. In fact, a totally new invention can bring a whole set of issues you may have never given thought to, and creating a need for such an unknown product may be so difficult that it is impossible, and terribly expensive.
Most inventors believe in their product and believe that everyone will be as enthusiastic about the product as they are, however this may not be enough for a successful invention. If there has never been a similar product, then there has not been a market for it either. This means people don’t know they need it and may not be willing to try the product right off the bat. Now, if its a product that everyone wants then there may be another issue – people only want things they know about, so it may not be patentable as described in the article on http://baltimorepostexaminer.com/inventhelp-can-help-make-young-inventors-dreams-into-reality/2018/07/20 too.
People that invent tools, machinery, or an industrial product usually can do a market research project easier. They know what the new invention is going to do and what it is going to do for people. They also have a better idea of manufacturing cost and benefits.