Inventors make a lot of money when the invention is needed and when the process is done correctly. There are different types of inventions. Some inventions are more practical, making everyday life easier for people (pens for example), some inventions are simply for entertainment purposes (television) and some inventions are multipurpose (educational devices that are also entertaining). Furthermore, some inventions are simply responses to medical problems, as in prosthetic devices, while others are simply “improvements” made to existing inventions. As you can see, something can be successfully invented in many styles and through many creative avenues.
However, in general, inventions succeed or fail, depending on the need or desire of the consumer for the product. Let’s face it, if something isn’t needed or wanted, no one will buy it, no matter how smart it is! Even Thomas Alva Edison (invented the light bulb) failed thousands of times before inventing many successful products, as did the famous British inventor Sir Clive Sinclair. One of Sir Clive’s “famous failures” included an X-Bike that was a cross between a pair of scissors and a bicycle. Thomas Edison’s biggest failure overall was an invention of a mining operation that would separate iron from other low-grade minerals, and Mr. Edison spent his fortune and eventually lost it, attempting a successful “method of invention.”
However, inventors are rarely deterred, and continuing to try and invent eventually leads to extreme success, as in the cases of Thomas Edison and Sir Clive. Successful invention involves a certain number of steps or processes that will routinely lead to successful inventions:
A. Realistic evaluation of the potential of the invention. Let’s face it, if it’s not “needed or desired,” it won’t sell.
B. If a patent is needed. In some cases, believe it or not, it is not.
C. The legal protection of ideas. Do not allow ideas to be stolen or copied.
D. The development of a marketable product. In addition to being necessary or desired, a product must be affordable enough so that the prices appeal to the consumer.
E. The engineering and prototyping methods for making an invention a reality. This must be done correctly for marketing to be successful.
F. Licensing issues. Some inventions require researching existing licenses and also obtaining licenses.
G. Propose to companies and approach companies for the promotion of the final product. The correct methods to approach interested companies and investors.
H. Royalties and Advance Payment Options. Without the knowledge of these issues, investors can lose money in the long run.
I. Verification of existing patents, trademarks and copyrights. There is no point in inventing something that is already protected by someone else.
As with any other type of business (and inventing something is generally a “business venture”), it takes a lot of work before, during, and after the invention process. Everything from the right market research to the right patent processes, trademark and copyright information, needs to be established a lot, and successful inventors proceed slowly and carefully during each stage of the invention process. Also, successful inventors are very determined and patient. Typically, many failures occur with each product before an “invention success” occurs, so a calm and dedicated personality is also necessary.
Although there are tons of books and other materials on proper procedures to follow, a future inventor can also save money on materials and save time by visiting US government sites specifically configured for the needs of inventors and product / service creators. . These sites are:
United States Patent and Trademark Office: http://www.uspto.gov
United States Copyright Office: http://www.copyright.gov
If you prefer to buy a book or report on how to successfully bring an invention to market, a simple online search will reveal literally hundreds of those materials.
As with any commercial enterprise, future inventors who are informed and equipped with the “tools” necessary for a successful invention, do their “invention homework”, and support their efforts with the necessary funds, most of the time they will produce a invention that works. , it takes, and best of all, it “sells”. After all, what better reward than knowing that consumers were so excited about an invention that they would gladly pay for it?