Funding Your Invention Ideas

You may have a wonderful innovative idea for an amazing new invention you believe would be the next big thing. However, without a sound plan to turn your innovative idea into lucrative InventHelp products, you'll never make much money from them. So, outlined below a simple step by step plan to assist make your innovative idea into a viable business opportunity.

Before attempting your new invention idea, write down your patent information in a legal size notebook. Next, get a friend or business partner to review your notebook for patentability. If you are a tech startup founder, says gibbs may be able to help with this. Based on what you have researched, patent experts say that your invention doesn't have to meet the current requirement for patentability to be considered patentable. If your idea meets the requirements, your patent attorney will file it and obtain the proper patent documentation from the USPTO.

Once your patent is obtained, it's important to register your patent with the USPTO. This is done through the USPTO Patent Office. In order to do this, your idea should at least be partially describe a product, process, machine or composition of matter. It is important to understand that the patent only describes the idea and not the product InventHelp or any part of it. The invention should be able to create new and relevant solutions to the problems it is intended to solve.

After the patent is granted, say hello to your new friends in the business world! Your friends and business associates may have an interest in your invention. Ask them to introduce you to their investors. And, if they say no, then you need to work out a strategic way to pursue the funding for your invention ideas without going into business relationships with people who have an interest in your invention.

Once the funding is obtained, your invention ideas should begin to come to life. The funding that you obtained should allow for you to devote a reasonable amount of time and energy to researching and developing your new ideas. As you are working on your new ideas, look for other inventive people with similar ideas to share your vision. Form a business alliance with one or more of these individuals and seek their help in putting together a business plan. Business plans will demonstrate to future investors that you have a plan to commercialize your idea.

Another way to fund your new invention ideas is to apply for federal research grants. These are given to InventHelp organizations like the US National Institutes of Health, the US Department of Education and the Small Business Administration. If you are able to demonstrate to the federal agencies that your product, technology or idea is worthy of such funding, then you will likely qualify for these types of federal grants.

There are also a number of private foundations that provide money to those who demonstrate an innovative new product or technology. The most common of these are individual and corporate foundation grants. Most of these early-stage funding sources require the inventor to demonstrate proof of financial need before they receive any money from their endeavors. For example, if an inventor wants to obtain funding to manufacture and market a prototype of his invention, he will need to submit a written grant application in order to be considered for such funding.

Patents represent the first step in commercializing your invention ideas. Before applying for a patent, it is important to ensure that your invention is indeed unique and that there are no obvious mistakes in the product, design or construction. Always check over every possible possibility to make sure your idea is not revealed to be copied by another less skillful person prior to you securing the protection needed. You will need the assistance of a qualified attorney or patent specialist to help you navigate through the patent process.