Quote:
Originally Posted by akula
"ideas" are not a legally recognised type of property. they can not be bought or sold.
get your IP issues sorted, and then, maybe you can explore the possibility of a sale or lisensing arrangement
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Hello Akula...hope all is well. This idea selling stuff is very important for all here to know. First, the toy industry generally does not work with patents. In the U.S. there are about 200 especially known toy inventors. In general these people are "by invitation only" as the toy inventing field is FLOODED.
Toy companies and these inventors generally work on a "handshake" because by the time a patent issues a "hot" toy idea has come and gone. The toy companies will not rip off an inventor as generally because they don't want to ruin the resource. The toy industry relies on outside sources.
I have been through the process with a toy invention with dealing with Mattel and Shellcore toys. I have a very large toy concept that will be launched soon.
That being said, other companies will work this way too especially if you straight up say that if you guys, company B aren't interested then you will try company A (the larger competitors) (Number 2 company will always treat you better, company 1 really doesn't need your idea as much)
Once a licensing agreement is signed, it should be set up to continue if the patent does not issue because you offered the jump on the market...you could have done it yourself, hence, you gave something of value still.
The other way without a patent pending etc. is to get yourself an executive job with your idea. Say...hey look...my idea, I have the background knowledge, I'm best to execute or a strategic part of the team. Get that good job with a bonus agreement. I did just this and was offered two direct jobs from Fortune 100 companies.
Sometimes companies are closed to you to submit like Johnson& Johnson until a patent issues. Other times you will be asked to sign a non-disclosure agreement which states they can take your idea and just have it or they can pay you if they wish.
Simply, if you are good, smart, innovative and a fit for them they will offer you something nice as they want you on the team.
Now for patents. In the U.S. we have a "provisional patent" application. For $100 you file a quick document that proves you had the idea first. You have one year to file a full patent app or lose your date of the idea and the protection you have started to apply to. After this application you can call your idea "patent pending" Provisionals are only available in the U.S. and may not last much longer as pressure from the WIPO is mounting to make the same as the rest of the world.
If you can just go with a design patent the process can be as little as $2000 with an attorney and issue in 9 months for an extra fee of about $800 as it is called "made special"
Last way, and this is what a lot of those inventor help companies will do. You can file a disclosure document for about $10. $30 if you want a return receipt. In the U.S. it is "first to invent" The rest of the world is "first to file a patent application"
A disclosure document lasts two years. When you file your U.S. patent you can refer your patent protection start date back to this date if you wish. What this does basically is have your idea filed with the USPTO in case you need the USPTO "as a witness" in later situations. The USPTO will not even look at a provisional or disclosure document until you file a patent.
If you go with a disclosure doc, you can say to a company you have sought intellectual property protection.
I have a disclosure document, 3 provisional patent apps and two full patent apps.
In any case, you will have to create "leverage" to your side and show a company why they need you and want to hold onto you so the competition does not get you. Patents are not sure things by any means and with the global market they can be gotten around even strategically.
The marketing research is so very important too for the companies to respect you and to be impressed by you and show why they need YOU, not just your idea and run.
Hope this helps. Let me know if you need anymore advice. I'm not an expert, but I know some from experience. Good luck!!!
Ron
Inventor of Handi-Straps
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