[SML] Do you have a successful invention?

[Bruce]

Be *very* prepared for the trouble that comes with attempting to license a 
product.  There is still SO much 'Not Invented Here' mindset.  Not to 
mention that you are typically not going to see greater than 10% of the 
sales price as payment, assuming exclusivity is granted.  This was my 
experience and counsel I received way back when.....

  Effective filing and defense of a patent was north of $25k, back nearly 
10 years ago.  Sure, the filing fee is tiny, but almost no one gets a 
patent accepted and granted in one go.  There are usually half a dozen 
[minimum] back-and-forth exchanges with the Patent Office, all of which 
SOMEONE has to properly and promptly respond to. Never mind if someone 
challenges your patent, unsuccesfully or otherwise.

  So, unless you figure you can make profit [not gross] of 100-125k in the 
first 3 years, I would advise that a patent may not be worthwhile. 

  There is a reason so many folks start small companies to sell their 
inventions.  It is often the path of least resistance, and those companies 
can be purchased in whole by bigger fish further down the line.

My bits-n-thought.

:Bruce Cooper
--
Stagehand in Waiting

 
On Wednesday, April 29, 2020 1:09:52 PM CDT, christopher R. pike via 
Stagecraft wrote:
> I respect the fact that people who use this list have a wide range of
> experiences, which is why I'm writing here.
>
> I'm potentially going to file for a patent and fabricate a prototype
> of an invention (actually, the plan is, fabricate first, file patent
> second).  I would present this prototype to companies with the
> capability to manufacture and market, and hopefully license this
> product to such a company.  I have a quote from an engineering company
> for the fabrication of the first prototype, and it isn't cheap.
> (Filing for the patent if much less cost that fabrication.)  Before I
> pull the plug on this, I was wondering if I could get some advise from
> anybody who might have successfully filed for a patent, created a
> product, and marketed it.
>
> ps. This plan was in motion before the virus.
>
> Thanks.
>