Can I sell my idea for money?

[Sam Barona]

Hi, I hope I am not too late to save this thread. many things have been said that are true, like protecting your idea with a patent and discussing with third parties only under a thorough NDA (Non Disclosure Agreement).

Some others are just plain rude, ignorant of the facts and simply unhelpfull (I thought this forum was to help and support fellow entrepreneurs - We are all dreamers, but dreamers with plans that can be implemented).

I have 3 patents under my belt, sold them for over US $3 Million and now own a number of companies, some of which are in consumer electronics.

You have various avenues open to you, some of which include:
1- Secure your idea with Intellectual Property Rights (Patent)
2- Develop a working model that will allow you to ascertain approximate production costs and iron out any production problems.
3- License your technology to a suitable organisation(s) - you will receive an upfront payment and royalties on units sold during a pre-defined period
4- Sell your technology to an organisation outright
5- Seek funding to develop it your self (you can source manufacturing partners in China, or India) after you have studied your market well and have had your plan audited by a credible consultancy firm (KPMG, PWC, et al)
6- Sell the business and retire to a nice sunny climate with a beautiful woman and a warehouse where you can work on your next project (this step is optional, of course)

Seriously though, you do need to secure your idea with a patent if the idea is worthy of one (only inventions are patentable, not alterations of existing products/technologies). In the US you can also patent business processes, but not in most of the world. You can get a US patent only, whilst you move forward, but seek a world patent as soon as you can (approximately US $70k).

If you like to discuss this further, please contact me as I am always on the lookout for new technologies to add to my portfolio. I will fax you a signed NDA to help things along and can advice if it is something worth pursuing further, or if its market unrealistic (some ideas are just too far ahead of their time).

You can patent the idea your self and save costs, look in the patent office for ideas of what is needed for them to accept an application. You do NOT need complex drawings, or a working model to do this (just look for Microsoft's PAN patent for example: my 6-year old daughter could have drawn it better). You CAN patent ideas as long as they meet the Patent Office's criteria (there is one for a transatlantic foot bridge using hot air balloons).

I know more than most on this topic as I used to be head of marketing for a licensing company, so my job was to identify good products to develop, license, or help take to market.

I will offer you the first advice for free, if I like the idea then we can start talking about partnering; if its not for me, i will advice you where to go next for further help, but cannot spend much time if your idea doesn't match my portfolio.

Hope this helps

sam@moviefactory.co.uk

[imran khan]

yaa i got a concept which is fresh and unique though it is meant for 5% of the world population ,nevertheless it makes a big big economics sense.

i am looking for entrepreneur,independent or consulting firm who could take my concept and sell to the marketer/s and take one time royalty.

as this is the most easiest and shortest way,though i can make this product on my own and sell but being small entrepreneur i wont be able to reach out to world as fast as those company/ies who have got worldwide presence,besides people will get my coined[concept] product faster.

anybody interested may write to me at [meee_imran@live.in]

thanx

[www.Sellmyidea.co.uk]

I have set up a website that can help you introduce your idea to investors. If you are still looking please do have a look at the site sellmyidea.co.uk