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Having A Patent Does Not Mean Success

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Having A Patent Does Not Mean Success

Post  Roger Brown on Mon 7 Mar 2011 - 7:49

There is a huge misunderstanding when it comes to having a patent. Inventors think once they get that piece of paper companies will be beating down their door wanting their product. It does not work that way. Talk to most people that get a patent and the first calls or emails they get are from companies wanting them to buy a coffee mug or plaque with their patent embossed on it. Or they are wanting to sell them services to bring their product to market.
It all comes down to what I have always said " Just because it is patentable does not make it marketable". It only means you got a patent. What you do with it is what matters. Some people are happy to have that piece of paper so they can say "I have a patent". Others do not have the necessary business skills to sustain a product for at least 3 years to get a good foothold in the market.
Others can not afford to quit their job to pursue this venture full time. You also have the niche products that will never sell or sell more than a couple hundred to a thousand. Then you have those that price themselves right out of a market. It comes down to only the strong willed, well prepared, and very lucky survive. You have to be able to go with the flow and adapt your product to meet the current and future needs of the consumer.
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Re: Having A Patent Does Not Mean Success

Post  Guest on Tue 12 Apr 2011 - 6:59

Roger,

Golden comments from your quote below!

It all comes down to what I have always said " Just because it is patentable does not make it marketable"

what about reversing it!

"Manufactures and Distributors know what is marketable, get them to lodge patent's for the Inventor"

"Inventors need the level of Interest from Manufactures first"

if its good enough then the manufactures will cover the costs

see the quote from the below web-link

http://www.tenonline.org/art/9705a.html

Keep expectations reasonable. Every inventor thinks his or her idea is a "million dollar idea". Unfortunately, the worth of an idea is what the market (e.g., manufacturers) are willing to pay to license it. A common mistake is to assume that the worth of an idea is equal to the amount of money and time you have invested in it. Pick a reasonable price and be willing to negotiate. Don't raise your price or change terms at the last minute. These are deal-killers!


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Having a Patent Does Not Mean Success

Post  Roger Brown on Fri 18 Nov 2011 - 15:16

Inventors need to understand that a patent is tool and nothing more. It is not the answer to fabulous riches on its own, it depends on how you use that tool or if you even need the tool to begin with. Rushing out and getting a patent before you have even researched to see if you need one is risky business and a waste of your hard earned money.
Do your best to research your product idea to see if it is even marketable. Spending money on a product that only a handful of people would want may not be the best return on your investment. As I always say try and do your research upfront so it can help you make informed decisions.
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Re: Having A Patent Does Not Mean Success

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