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Does a patent guarantee you will get your money back?

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Does a patent guarantee you will get your money back?

Post  Roger Brown on Mon 18 Jul 2011 - 15:23

There is a misconception that just because you have a patent they will come to your house with a Wells Fargo truck and dump money in your front yard. You will wake up that morning your patent is issued and find a line of company representatives fighting over who gets to license your product first. Unfortunately this is not reality. One of the issues I am seeing lately is the amount of Inventors that contact me with products they have a patent issued for and can’t understand why no one is wanting it.

Take look at this made up listing and ask yourself if you think these are marketable to more than 10 people? I am not using their real products so I do not embarass them. I just want you to take a long look at your product idea before you throw away good money on something you will never see a dime back in return because you did not do enough research first.

Paper cup washing machine
Dog leash with backing up beeper
non-writeable or printable paper
MP3 Player built into a vegetable strainer
Coffe Maker and pruning shears combo
gasoline powered toothbrush
underwater hair dryer (cordless)
non-lightable candle
airconditioned BBQ grill
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Roger Brown

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Join date : 2011-02-20
Location : South Carolina

http://www.rogerbrown.net    http://www.looking2license.com

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Does a patent guarantee you will get your money back?

Post  Roger Brown on Sun 23 Oct 2011 - 10:00

Inventors need to remember a patent is a tool and not a automatic ticket to riches. Don’t pin all your hopes on a patent when you haven’t done any research to see if your product is marketable.
Try and determine upfront what benefits do you get if you pursue a patent on your idea. Is the return on investment realistic or will it take you 10 years to break even? If you break even at all. Spending $12,000 on a patent and another $10,000 to get a production run of your product so you can start selling them may not be the best investment if you are only profiting $2,000 a year after expenses.
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Roger Brown

Posts : 95
Join date : 2011-02-20
Location : South Carolina

http://www.rogerbrown.net    http://www.looking2license.com

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