I had a great idea back in the late 90's, I used a company... I think it was inventhelp... or one of those free to get information places. I spent about 2 months going back and forth with information. I asked repeatedly how much it was going to cost and only got the we have to wait and see answer. after all was said and done, they said I would have to pay them 10 grand to continue on getting the patent. so needless to say, I did not get it. I did find out that there were about 45 patents ranging back 15 years trying to accomplish the same thing, but nothing the way I was planning on doing it, so I could have applied for a patent. But after seeing this, I didn't think it would be cost effective to bring it to market.

Im not sure of any places around that will front the money to anyone with just an idea. It almost always cost you money out of pocket to get to the point of having investors even look at your idea.

the hard part is finding someone who wants to invest, without giving them the idea. once the idea is out, anyone can make it. Also, its extremely hard to cover all basis for patents. Just because a patent is on it, someone can make it, but just do a slight varience, whether its material used, slight change in dimensions... just about anything can be worked around. The wording has to be choosen very carefully as I found out.

Your best bet would be to get a prototype built, then go to investors yourself. You may even want to go to tool makers and see if they want to buy your idea. IMHO, a patent really doesn't protect you as much as most people think. it only protects the EXACT way you made it, not the idea itself. If you have an existing prototype and show to a company or investor, thats as good at protecting your idea from them stealing it as a patent is. At least thats my take on it.

Also as said by classic, you should get the patent check done. Just because it isn't made, doesn't mean it hasn't been tried. Especially involving tools. Designers and Engineers are constantly working on new ideas. the main reason we don't see them is because its not cost effective to produce them. But they still patent a lot of them. I would bet the idea has been designed and prototyped already.

 

not sure if someone has already said this but you want to get feedback from another perspective before you decide this is a worthwhile endeavor. someone unbiased and someone you can trust.

Good luck JP I wish you the best!

 

First thing you do is write your idea in a letter, dated and notarized (the letter, not the envelope), and send it via registered mail to yourself. That way if there's ever a dispute with someone else as to who came up with the idea first, you have proof when you came up with it.

 

that is either the silliest or the most.ingenious thing I have ever heard. Cheap insurance though. Will definitely do. Thanks for your thoughts guys please keep them coming!

 

Its a good idea. I know of a lot of people that do this with their music when they make a song and send it to a record label so that they cant steal the song, or if they do, thee person has proof that it was theirs first. (Theyll mail themselves a duplicate dated copy of whatever they mail out to someone else)

And like other people have mentioned a patent only covers exactly how you make your product pretty much. Think of how many companies produce similar products that are all patented or trademarked. They just come up with their own variant and own name on a similar idea. Id say to see what itll take to get it produced, try to get some investors based on your prototype and go from there in terms of patenting it and what not if thats what you want to do.

 

I can make a prototype with ease. Planning on making a couple tomorrow. Perhaps I should ask my tool dealer to sign a non-disclosure agreement and give me his thought on it?

 

Do you guys think It would make sense to, (after and if the idea takes off) buy patents to similar ideas as sort of an insurance policy? has that been done before? Is it legal and/or ethical?

 

depends on if you got the cash to do so? and how money you make on each unit sold as compared to its material/labor prices if it will pay you back quick enough. Then you have marketing...etc I have a couple ideas. some crazy some not. one or two stolen

 

I had another tool idea a little over a year ago but no idea how to make it work. ONly a few months later craftsman came out with a legitimate open ended ratcheting wrench. It was my idea (I'm sure along with others as well). I submitted the idea to snap on and never heard back. I see gear wrench now makes their own version of the same tool.

I wasn't too bummed out because I was able to add this gem to my tool box (and I had wanted these in my box for a long time).

I'm hesitant to go to snap on with the idea though because they published a story last year about a tech who invented a tool for them. In return he was given the final production set for free. (about an 8 or 9 hundred dollar value where snapon will make thousands on it)

 

People try to patent intellectual property and general ideas and concepts but i feel like thats a gray area and there are easy ways around it so who knows. Your best bet is to talk to a patent lawyer or someone who knows more about this. If i were you, and given you feel its that good of an idea and such, id just try to get it made and start selling it as soon as possible and let it take off from there. Even if you get it patented and then start selling it im sure someone will start selling their own version of it soon enough anyway so just get it out there.
Yeah thats a bummer when you work/engineer for a company. Anything you create or come up with while youre working for them is pretty much their property and they own the rights to it. They get all the money and credit and you get the same old paycheck.