How to make an invention idea a reality
I feel like I have a really good idea for a new invention. I do not have the mechanical knowldege to make it myself.
When you have an idea but don't know what to do after that, what do you do??
Does anyone have experiences with a book/website that helps or anything like that?
Can you create soem sort of patent for ideas? If so, how specific would you need to be? I wouldnt want someone slightly modifying my idea and then reap all rewards from it.
That is exactly what they will do if you don't know what you're doing. The company Billy Mays worked for does this kind of stuff.
But if it is a great idea and you're serious about it, then check this out: http://www.intellectualventures.com/
WikiQuote: "They reportedly have raised over $5 billion from many large companies including Microsoft, Intel, Sony, Nokia, Apple, Google and eBay."
Patenting an idea is much more complicated and expensive than most people realize. I tried to patent an idea that I had been working on for two years during college but was slown down by legal fees, proto-type creation, etc. Be very wary of those inventtech places that ask you to submit your ideas, They charge an initial fee, then charge ridiculous fees for trade shows, etc. I think their pitch lines included things like, you cant make money if you dont spend money and you cant hit the ball out of the park if you dont swing (ie give us money and your idea). Best piece of advice is to do an initial patent search which I believe can be done for a nominal fee and consult with an attorney. You will generally need anywhere from 5-10K to begin unless you get a financial backer. Make sure you document everything, draft and sign confidentiality agreements, etc. Good luck
IMHO, this is a common misconception: that your idea is worth more than your execution. Here's a nice quote on the issue from a successful entrepreneur:
“You’re going to have a hard enough time convincing your management team to work on the problem that you’ve decided to pursue, let alone having competitors go steal your idea and do the exact same thing.” -- Dharmesh Shah Founder of HubSpot Inc
In regards to not having the technical expertise, your startup is dependent on your whole team not just you. I would suggest finding a good partner with the technical know how to develop your product/invention. It might seem like you're giving away your idea but just creating a prototype is not enough to start a business. Someone has to sell your product, talk to suppliers, market the company....perhaps get a patent or raise capital.
Last summer I had the opportunity to speak to someone who founded a company that reached a billion dollar in sales during the height of the dot-com boom. He came out of MIT, took his research on optical networks, and built a company that reached I think $20 billion in market cap (though that was at the height of the dot-com boom). He told me that starting up a company is about a team of people and that everyone has their role to play. According to him, its very rare to find someone who can do it all (i.e. the technical and the business aspect).
Good luck with your venture!
Well for the mechanical part that you say you have a problem with you want to find a manufacture, someone to make your product for you at a cheap price. I know Bell Micro
hope that helps you get started. Don't forget to do all the other stuff like patenting, but Bell Micro I know will help you with some design and technical aspects to get it done right.
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