success
Your Invention
The excitement of conceiving a new invention can often blind good reason. New inventors are easily consumed by visions of super yachts and exotic sports cars all resulting from
their "eureka" moment.
International Organization for Standardization
The facts, however, paint a different picture. Over 98% of all inventors fail to earn more than they have spent on their idea. With such odds, it would behoove a new inventor to diligently assess their invention, and their strategy before committing significant amounts of time or money to their concept.
Do your homework
A good starting point for any new idea is to simply confirm that it is in fact a new idea. Years ago this was a mammoth task which either required the services of a skilled patent searcher, or spending numerous hours at a designated patent repository sifting through thousands of patent abstracts.
Though it is difficult to match the skills of one who is well trained in searching for relevant patents, with today's technology there are a number of resources available free to enable an inventor to independently make a preliminary search of their idea.
The United States Patent Office offers a free online search tool.
Some, however, may find it easier to use the patent search tool now available through Google. Whatever tool used, it is an easy and essential step that should not be overlooked.
Should you be unable to locate any patents that reflect the elements of your invention, do not assume someone else has not already conceived of the idea. In some cases new products are brought to the market with no patent protection at all. Hence, it is not possible to locate them in a patent search. Further research may be necessary to determine if the idea is already in the market.
Reduce your idea to practice
It is one thing to have an idea, it is quite another to "reduce it to practice". This principle often evades new inventors. They may feel that if they have the "idea" that is enough.
This is simply not the case. An inventor must understand how to create and operate their new invention. If they are unable to do this, or do not enlist the assistance of others to do this, they have not reduced their idea to practice.
For example, an inventor may have an idea for a toaster that never burns toast. A fine idea indeed, but how will this be reduced to practice; will electronic sensors be developed to monitor the surface of the toast? If so, have the "sensors" been developed? Do they work? Have they been tested? Are the sensors economically viable to produce? Will the "sensors" withstand the heat generated by the toaster? Will the market buy such toasters?
Questions of this nature involve reducing an idea to practice. Though often ignored, it is an essential activity in the development
of a new product. Successful and experienced inventors intimately understand this point.
Don't fall in love with your idea
Creating an emotional attachment to an object, or the mere thought of one, can contribute to errors in judgment. Bringing a new idea to the market requires a tremendous amount of persistence. However, that persistence must be anchored by sound reason and intelligent analysis.
Namely, a firm grip on the market potential of the given idea, and the likelihood of penetrating that market. Again, this is a process the requires homework on the part of the inventor. This may be accomplished independently, or an inventor may choose to enlist the services of a qualified firm for assistance.
Know where to go for inventor help
United States Patent & Trademark Office
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