How to Find the Best Invention Company for Your New Product

How to Find the Best Invention Company for Your New Product

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New and experienced inventors alike require invention companies to help them through the development, patent, and prototyping process

When searching for the best invention companies to bring your innovative ideas to life, you need to make many critical decisions. These decisions will impact the eventual outcome of your new product. To aid in making an informed decision, we provide insight into selecting and working with top-tier invention companies that can help you navigate the complexities of patents, marketability testing, and intellectual property rights.

We will discuss the importance of researching the best invention companies through unbiased reviews and comparing their services. Additionally, we’ll delve into protecting your intellectual property rights by understanding key legislation like the American Inventors Protection Act (AIPA) and weighing the pros and cons of a “poor man’s patent.”

Furthermore, we’ll examine marketability testing services from reputable firms such as Houston patent law agencies. Lastly, we will provide insights on how to approach corporations that buy ideas for inventions while safeguarding your idea from theft risks when selling it to these companies.

This comprehensive guide aims to equip inventors with valuable knowledge about best practices when collaborating with leading invention companies in order to successfully bring their innovative products from concept to market.

Finding the Best Invention Companies

To successfully launch your invention, you will likely need the help of an invention company

Before committing to an invention company, conduct thorough research by reading unbiased reviews from trustworthy sources. You should also look at the types of products they have taken on in the past to determine if they have prior experience in your industry. In order to find the best possible invention company for your needs, you also need to compare services. To compare services between different invention companies, you should start by analyzing each company’s offerings regarding patent assistance, prototype development, marketing support, and licensing opportunities. From there, you can explore forums and talk to fellow inventors to get their unfiltered opinions on the advantages and disadvantages of different invention companies.

Ultimately, your research is one of the most important steps to begin the invention process. Unfortunately, there are many bad actors in the invention industry. That’s why it is so important to partner with a trustworthy company with the time and expertise to see your new product through to market.

Protecting Your Intellectual Property Rights

Securing your intellectual property is the first step to producing your new invention

As an inventor, knowing your rights under the American Inventors Protection Act (AIPA) is crucial before signing contracts with any patent or invention company. The AIPA safeguards inventors from fraudulent practices and ensures fair treatment. The act was introduced in 1999 to combat a mass of fraudulent invention companies that made empty promises to inventors. Let’s learn a little bit more about the AIPA, so you know your protections under the law.

Understanding the American Inventors Protection Act (AIPA)

  • The AIPA provides guidelines for filing patents and protecting intellectual property rights.
  • Inventor protection measures include mandatory disclosure of fees associated with patent services.
  • AIPA requires companies to provide accurate success rates for their client’s inventions.

The Pros and Cons of “Poor Man’s Patent”

While you may have heard of a poor man’s patent, you have probably heard a lot of conflicting information. Essentially, a poor man’s patent is when you write down your invention idea, place it in an envelope, and literally mail your idea to yourself. This may sound silly—and that’s because it is. While it is true that the “poor man’s patent” provides evidence of the date you mailed your idea, it will not hold up in court. In order to protect your idea, you need to file a legitimate patent with the USPTO. The best invention company will help you through the patent process if you haven’t already patented your invention.

Marketability Testing Services

The best invention companies will help you determine the viability of your product

Early-stage marketability testing can help inventors develop successful innovative products on the market. When you are searching for the right invention company, you want to make sure that they have marketing testing available as part of their comprehensive product launch plan. If a company lacks marketability testing services, that is likely a red flag. A reputable invention company will make sure to test your product for market viability before moving on to any next steps. 

Benefits of early-stage marketability testing

  • Determines if your invention ideas have the potential for success.
  • Gathers valuable feedback from potential customers and industry experts.
  • Fine-tunes your product design and marketing strategy based on test results.

Resources Available from Invention Companies

  1. Learn about the different types of patents available (utility, design, plant).
  2. Understand the steps to take during the patent process.
  3. Avoid common pitfalls when applying for a patent.
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The Importance of Conducting Market Research

Reputable invention companies will conduct robust market research to ensure your product is commercially viable

Prior to approaching these companies with your invention idea, your chosen invention company will conduct adequate market research to understand the target audience, competition, and potential demand for your product. Having a solid understanding of the market can strengthen your pitch when presenting your idea to prospective buyers. Without this market research, you could end up launching a product that doesn’t fulfill a consumer need. When you select the best invention company for your product, they will conduct market research to determine whether or not your idea is viable.

Safeguarding Your Idea Before Submission or Sale

Before you submit your idea, you need to make sure you have all of the appropriate protections in place

Secure your intellectual property by registering applicable patents, trademarks, and copyrights in countries or regions where infringement is a potential issue. A reputable invention company will make sure that you have the right protections before you submit your idea. Next up, it is time to file international patents and get the right copyrights and trademarks for your new invention.

Filing Essential Patents for International Protection

File Patent Cooperation Treaty (PCT) applications to seek patent protection simultaneously in multiple countries with a single application.

Obtaining Trademarks and Copyrights

  • Trademarks: Register your brand names, logos, and slogans with the USPTO.
  • Copyrights: Register with the U.S. Copyright Office for public record evidence of ownership.

Approaching Companies That Buy Ideas For Inventions

There are lots of companies out there that buy or license ideas from inventors—let’s take a look

Large corporations seek new ideas through open innovation platforms provided by various organizations worldwide, such as Nautilus Inc., Wilson Sporting Goods Co., Fila USA Inc., New Balance Athletic Shoe Inc., and Knight & Hale Game Calls LLC. The right invention company will help you pair up with the best possible fit to license and distribute your invention. Once you are paired up with a company, you can begin to work out licensing agreements for your invention.

Examples of Corporations Seeking New Ideas

  • Nautilus Inc: Accepts innovative fitness product ideas from inventors.
  • Fila USA: Interested in acquiring unique designs for sportswear, footwear, and accessories.
  • Knight & Gale Game Calls: Searching for new ideas to improve their existing range of hunting gear.

Selling Your Idea to Companies Without the Risk of Theft

Don’t get scammed out of your invention idea!

Protect your idea by working with reputable invention companies like Elite Inventions that specialize in obtaining patents. From there, Elite Inventions will help you choose the right company for a licensing agreement. When you find an invention company to help you through the process, you won’t have to worry about 

Research Potential Partners

  • Google Search: Look up reviews and testimonials from previous clients who have successfully sold their ideas through potential partners.
  • Referrals: Ask experienced inventors for referrals to trustworthy firms that specialize in assisting new inventors throughout the entire product development process.

By taking precautionary measures, you can reduce the hazards of selling your invention and guarantee that you are adequately rewarded for your effort and ingenuity.

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FAQs About Finding the Best Invention Companies

Which company holds the record for the most inventions?

IBM has over 140,000 patents granted worldwide, making them the leader in annual patent grants for more than two decades. Their innovations span across various industries, such as AI, cloud computing, and cybersecurity.

Can you make money from your invention ideas?

Yes, inventors can earn money by licensing or selling their ideas to interested companies, but it’s crucial to secure intellectual property rights through patents before approaching potential buyers or licensees.

What’s the best patent help company?

The “best” patent help company depends on an inventor’s specific needs and budget constraints. Research each provider thoroughly and read unbiased reviews before making a decision.

What’s the most groundbreaking invention today?

Determining “the best” invention varies based on individual perspectives. Still, some groundbreaking innovations that have significantly impacted society include smartphones (like Apple iPhone), electric cars (such as Tesla vehicles), renewable energy technologies (solar panels & wind turbines), CRISPR gene editing technology, and advanced AI systems like DeepMind’s AlphaGo program.

When searching for the perfect invention company, it is important that you keep the following tips in mind:

  • Research and compare services offered by top invention companies.
  • Protect your intellectual property rights by understanding AIPA and obtaining patents, trademarks, and copyrights.
  • Conduct early-stage marketability testing and seek resources from patent law firms.
  • Safeguard your idea before submission or sale with international patents and legal protection.
  • Approach corporations seeking new ideas after conducting thorough market research.
  • Sell your idea without theft risk by working with patent assistance.

Follow these steps to find the best invention company for your needs, and you will be well on your way to patenting your new invention. When you choose Elite Inventions, we will help you through every step of the process. With our help and connections, you can see your product through to a successful launch.

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