If you have come up with an idea for a new invention, you might be thinking that the hard work is over. Think again, as now you need to patent your idea to protect it, and then you need to find a company that will actually buy or license the idea from you. The industry surrounding patenting and promoting new inventions a $300 million industry. You need to research any company you approach about your new invention idea to ensure tat it has you and your product's best intentions at heart.
Black and Decker
Black and Decker manufactures power tools and accessories for professional and home users. If you have an idea for a new tool or how an existing tool can be improved, you can submit it to Black and Decker via their website. The idea must be your own, be novel and be related to their industry sector. Before submitting your idea, you must either already have a patent or have protection from a provisional patent application.
Franklin Forge helps you with the patent application process for your new idea. It markets ideas to manufacturers and negotiate licensing deals for suitable patented ideas. The patent and marketing of your idea can be an expensive process, Franklin Forge offers payment plans to suit your budget.
Edison Nation works with inventors, helping them get their new product ideas to market. They review ideas, test prototypes and arrange licensing agreements with manufacturers. They host on-line forums and blogs for people to discuss and exchange ideas. Companies use Edison's "Live Product" search platform to search their database of products to find matches compatible with their brand.
Trevor Baylis Brands
Trevor Baylis invented the clockwork radio and now helps other inventors through the patent process. After exchanging confidentiality agreements, Trevor Baylis Brands will carry out a patent search to ensure your idea is novel. If it is, you can then apply for a patent. Once your idea is Patent Pending, it is protected from others copying it for one year from the date of filing. If your idea is potentially valuable, Trevor Baylis Brands may be able to licence it through its network of over 300 industrial collaborators.
Yet2 acts as an intermediary for creators of new ideas and companies looking to license them. The company evaluates new ideas and, if your invention is suitable, enters into a confidentiality agreement with you. Yet2 will then approach corporate buyers in an attempt to secure a licensing agreement. Companies who use Yet2 to source new product ideas include Honeywell, Microsoft and Siemens.