Ideas for a generating revenue take many forms. For example, an idea for a new product or service, an idea for a new way of doing business, or an idea for promoting a product or service. An idea however is only that, an idea. In order to bring the idea to the point of generating revenue requires a business plan that describes how the idea can be exploited as well as what financial resources will be necessary to implement the plan. Initial financing may include the need for the engagement of professional services personnel to develop the business plan, to secure adequate protection for the idea so others may not exploit the idea, and to conduct financial studies to determine the cost to develop a product or service, the cost to marketing a product or service to make the public aware of and desire to purchase the product or service and the cost to establish sales outlet channels where the product or service may be purchased by the public. In short, it costs money to implement an idea to a sufficient point where others would desire to invest in the idea.
Protecting an idea may involve obtaining patent protection, securing a trademark, securing a domain name for advertising the product or service on the Internet, or setting up necessary contractual relationship to keep a product or method of doing business confidential until full intellectual property protection has been achieved. Our firm is available to provide these types of services on a fee basis as outlined in our schedule of fees. The United States Patent and Trademark Office provides limited assistance to independent inventor. To check out this assistance follow this link.
Protecting an idea may involve obtaining patent protection, securing a trademark, securing a domain name for advertising the product or service on the Internet, or setting up necessary contractual relationship to keep a product or method of doing business confidential until full intellectual property protection has been achieved. Our firm is available to provide these types of services on a fee basis as outlined in our schedule of fees. The United States Patent and Trademark Office provides limited assistance to independent inventor. To check out this assistance follow this link.
Timelines, market studies, market penetration plans, expected revenue outlay, expected return on investment, and personnel identification are but a few of the important discussions that must be made available in the business plan. Creating a business plan is achieved by engaging the services of professional business planners, accounting firms and professional marketing service firms. Engagement of such professionals is necessary if your idea is going to succeed in the generating of revenues.
Remember that you as an individual inventor have certain rights that are protected under Title 35. Individuals and businesses that attempt to act as a link between an inventor with a new invention and the manufacturing industry will charge the inventor for the services that are provided. In order to protect individual inventors the United States Congress enacted The Independent Inventors Protection Act of 1999 ("the Act"). In this regard, the United States Patent and Trademark Office will make available to the public any complaints that are filed so individual inventors can verify whether a promoter provides services under false pretenses. Make certain you as an individual inventor seek out this information before engaging the services of an invention promoter. Also remember, most if not all invention promoters will work with a patent attorney who will charge for his or her services. These charges will be in addition to the charges the invention promoter will charge.
The key portion of the Act includes the following provisions:
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