If you have an idea for a new product that you would like to see manufactured, it may be possible to sell your idea to a company. Companies that make their profits through product manufacturing are always looking for products that will sell. Getting your product idea in front of the right person takes luck, but it will help to have all the right tools ready to make the sale.
Draw and Explain Your Product
Just because you know what your product looks like doesn't mean that other people will be able to envision the product like you do. Putting your idea down in a drawing will allow other people to see it the way that you do. If you are not artistically inclined, you may want to hire someone to draw your product but you should be selective when choosing this person. Until the product is patented, it is not legally protected, so you may not want to share your idea with a person that you don't know well.
You also may want to create a model of the product. This model can be crafted with common materials and should work just like you intend your product to work if possible. If not, a nonworking model can still be a good example of your idea.
Whether your create a drawing or model, you should write a detailed description of your product explaining how your product works, what problems it solves and what materials will be needed in manufacturing the product. If you don't know how to determine the materials that will be needed, you may want to hire an engineer to help you.
In your written description, try to answer all of the questions that you think that people may ask. Besides explaining how the product is made and produced, you should also name the product and include marketing information, such as how it will be packaged, distributed and promoted. You can compare your products to a similar product on the market but if you do, be sure to explain why your product is better.
File for a Patent
In the United States, an idea cannot be patented. In order to qualify for a patent, you must have a product model or very detailed drawing. The patent process can be complicated and expensive, depending on what you are trying to patent. You likely will find it worth the cost to hire a patent attorney, who can make sure the patent paperwork is filled out correctly and your product idea is well protected.
Sell Your Idea
When it comes to selling the product, there are a couple of ways that you can go about it. The traditional way of selling a product idea is to target the type of companies that manufacture products similar to yours. You can find companies that manufacture a certain product type through the member lists of trade associations or trade magazines.
A more modern way of product selling is to place a listing online. Idea Trade Network is a forum on which creators list the ideas that they have for sale and investors and manufacturers look through the database for ideas that suit their needs. There is a one-time fee to sign up for an account but once enrolled you will have a lifetime membership and can list an unlimited number of ideas.