Can I just sell my invention idea?

If you happen to find a manufacturer that is interested in your invention, there are usually two options. You can sell your invention idea, or you can outright sell the invention itself for one large lump sum as compensation for your idea. The second option is to enter a licensing agreement.

How do I legally sell my ideas?

You Can't Legally Own An Idea

And if you don't own that idea, you can't sell it. The only real recourse you have is to patent your idea, but that may involve producing a prototype that incorporates said idea and may be more than you're willing to do to make a sale.

Can I sell my invention idea without a patent?

No. You are not required to obtain a patent in order to sell a product or service embodying your invention. Many products and services are sold that are not patented. A U.S. patent provides the right to stop others from making marketing, selling, or importing your invention in the United States.

How much is an invention idea worth?

Unfortunately, there is no magic formula for determining this. The value is determined by whether the invention is patentable, by the amount of money you can make through selling products or services under the patent, and by any licensing fees you can obtain from others interested in your invention.

Where can I sell my invention idea?

What to do after you come up with an invention idea

How do I get paid for my invention?

A license is written authorization to exploit an invention. An inventor usually authorizes a manufacturer (the licensee) to make and sell the invention in exchange for paying the inventor royalties. The royalties may be a percentage of the net revenues or may be a payment for each invention sold.

How do you sell an idea to a company without them stealing it?

There are two ways you can protect your idea when pitching it to a company, and those are filing a provisional patent application or using a nondisclosure agreement. Both of these will help you to present and try to sell your idea to a company without them being able to legally steal it.

How do I license my product idea?

How do I know if my idea is patentable?

How do you pitch an idea without it being stolen?

If you determine that the invention is probably not patentable, the most effective way to protect yourself is to have prospective licensees sign a nondisclosure agreement before you reveal your invention. This document is sometimes called an "NDA" or a "confidentiality agreement," but the terms are similar.

What happens if I don't patent my inventions?

If you don't patent your invention, competitors may well take advantage of it. If the product is successful, many other competitor firms will be tempted to make the same product by using your invention without needing to ask for your permission.

What inventions can not be patented?

Explanation– Mere discovery of something that is already existing freely in nature is a discovery and not an invention and hence cannot be patented unless it is used in the process of manufacturing an article or substance. For instance, the mere discovery of a micro-organism is not patentable.

How do you pitch an idea to a company?

How do I protect my invention without a patent?

What to do with a new invention idea?

What is the first step to patent an idea?

The simple answer is no—you cannot patent an idea for an invention. The invention itself has to be produced or a patent application containing the invention must be filed with the U.S. Patent and Trademark Office (USPTO). While all inventions start with an idea, not every idea can be called an invention.

How long does it take to get paid for an invention?

Once a patent application is filed, it can take from two to five years for the patent to be issued or denied by the US Patent and Trademark Office. Studies show that it takes an average of eight years after an invention is disclosed to begin receiving significant royalties on sales.

Do inventors get royalties?

Unless an inventor decides to manufacture their own invention, they usually will obtain income through royalties from licensing the invention to other companies. These entities control the manufacturing, distribution, and marketing processes. Royalties are usually measured in terms of net sales.

How do inventors sell their ideas?

Introduction to Invention & Patent Licensing. Licensing is the easiest path to commercialization and profit: you get paid while someone else takes your invention, turns it into a product and manages the day to day grind of making and selling it.

How do you protect your idea before trying to sell it?

According to statute, any person who "invents or discovers any new and useful process, machine, manufacture, or composition of matter, or any new and useful improvement thereof, may obtain a patent" from the U.S. Patent and Trademark Office. To protect your invention, you must apply for a patent.

What happens if someone steals my idea?

Unfortunately, the answer to "what do I do if someone steals my idea?" is "it depends." The best-case scenario for you is that you have a signed, written contract that says the other party will pay you and give you credit if they use your idea. Then, if your idea is stolen, it's a clear breach of that contract.

What happens if someone steals your idea and patents it?

The bottom line: If a thief steals and patents your invention, you can sue the thief and have ownership of the patent transferred to you.

Who gets credit for an invention?

Often credit goes to the inventor of the most practical or best working invention rather than to the original inventor(s).

How long does a patent last?

154 to provide that the term of a patent (other than a design patent) begins on the date the patent issues and ends on the date that is twenty years from the date on which the application for the patent was filed in the United States or, if the application contains a specific reference to an earlier filed application ...