Someone in an other country owns my genius idea.... What now?

[brianmvp]

Hey I do not want to say to much on the specific idea (as its top secret haha), but I had a brainwave last week on a household appliance that every house should have, but does not already. I done a quick search online to find that my idea is already available in the UK, but to the best of my knowledge it is not already in Ireland, the USA and other big countries.

My question is I want to know how to approach the current patient owners, with a plan to bring the product to Ireland. I understand that since the product is already produced and available to be sold i want to know.

How you go organizing discounts on large quantities. (in the future as the 1st order will be considerably small as i need to generate leads 1st, door to door possibly, but im positive word of mouth will spread like wold fire and grow my business)

How to organize possible the rights of the product to an area for a set period of time. i.e. how could I become the sole distributor of the product for Ireland for 3 years?

Should i try organize all these details over the phone, or arrange a meeting at their head office in the UK

[SCJeff]

It really would help to know what the product is lol, but I understand you want to keep it secretive. You could still make your own product, you just have to differentiate your product enough from the one that already exists. Think of it this way, go to a appliance store, wal-mart, or what ever, and look at lets say microwaves...There is probably 4 or 5 different microwaves made by different companies, yet they all still do the exact same thing using pretty much the same technology. Just because someone has created a product doesn't mean you can't make a similar product to compete with them.

[brianmvp]

Yeah that true man but what way does that work with the patent so?
I thought that once you own the patent i would have to pay royalties to replicate the idea.. is that correct. The cost involved in developing this product would be out of my current budget and I would not know where to start. Its an electrical home device.
I'm gonna ring the English suppliers and hopefully come to an arrangement with them. I think the only thing I can do is, try get the product for as cheap as I can and make a business from supplying and fitting.
What do you guys think the mark up should be, 10% of what i may be charging is coming in as only a modest return. Meaning I will have to be getting a couple of these done a day. And I cannot put the prices up as the price that it is working out at is so expensive, i will struggle to get customers on board.

I'm thinking of using the same model as Sky, the way they use door to door sales guys going around getting customers, for the installers.

[itsjustmoney]

The US has a first to invent patent law, so you are out of luck there. In countries with a first to patent law you will be able to file a patent and steal the invention, legally. I'm not sure which one Ireland (member EU) is but it shouldn't be too hard to find out. You are going to need alot of capital if you go this route...

[rogercbryan]

Don't worry about the patent.. ask them for resale rights its much easier and less complicated. Basically buy the rights to market their product in a specific country. This is expensive but it is probably your only option.

[Auspreneur]

It really would help to know what the product is lol, but I understand you want to keep it secretive. You could still make your own product, you just have to differentiate your product enough from the one that already exists. Think of it this way, go to a appliance store, wal-mart, or what ever, and look at lets say microwaves...There is probably 4 or 5 different microwaves made by different companies, yet they all still do the exact same thing using pretty much the same technology. Just because someone has created a product doesn't mean you can't make a similar product to compete with them.

I really wouldnt bother have your product developed, your looking at least a minimum of $250,000+ for a consumer electronic.

I would look at having the rights to their product in certain places ect.