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Inventing

Sometimes the simplest ideas can turn into the greatest inventions, and although large companies employ hundreds of people to find the next great idea, most inventions are the creation of a single person just like you.

However, many times a lot of time, effort, and money are wasted on "new" ideas because, as hard as it is for the inventor to accept, what may seem like a good idea really may not be. That is why it is important to have a way to test the idea with basic questions like: has someone already invented something like it? does it work? will people buy it? who is the right audience for it? how much profit is there in it? What frequently happens in this process is that ideas undergo tremendous transformation between original concept and success.

Bringing a new idea to market can be a difficult task because of the legalities of patents as well as the difficulties of marketing a new idea. To help the inventor, there are companies that specialize in this process. When exploring them, here are some suggestions:

  • understand what they will provide and at what cost. Make sure you are only paying for the services you need. Be sure that they have experience with ideas similar to yours
  • understand who will have rights to your idea, even if it fails in the market
  • understand your ability to switch companies if you are unsatisfied with their work
  • examine their "track record" for bringing new ideas to market, and contact their references to see how helpful and easy to work with they were

You may want to begin your search by contacting several companies and talking directly with them. Just wait to make any commitment until you have thoroughly reviewed them.

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