Inventing have a high failure rate, and we are not very sure why, please put in ur opinion






Thank You

hmmm... y isnt any one participating the concept is easy vote for one problem, so we can see what do u think makes people fail

Hi,

I just voted this poll as "lack of money". I worked in a company for several years and had 5 US patents as one of inventors. Among 2 of the patents, I am a first inventor. Three years ago, I was dismissed due to finacial problm. After leaving the company, I have got new idea which will improves the patents I had for the company. Unfortunately, I got no money to apply a patent for this idea, resulting in that I could not promote this idea. Anyone have suggestions.

James

In my opinion, lack of knowledge is the #1 cause of inventors failing, especially for those that are attempting to license a concept to a company rather than marketing the concept themselves.

Most inventors are unaware of how to present an idea to a company, or how to even gain contact to a company. Its a very tough thing when you are on the outside, and it takes a tremendous amount of time and effort to get inside. I've managed to get inside on my own, and I'm now able to submit to companies on a regular basis, I even recently got a deal offer from one very successful company.

Inventors need to stop worrying so much about patents and spend more time trying to build an open relationship with manufacturers. The great majority of manufacturers don't give half a crap about your patent, all they care about is whether or not your concept can sell in the marketplace. If they believe it can, you'll receive a licensing offer. No company has ever offered someone a deal JUST because they had a patent. Most ideas that have been patented are awful ideas to begin with that have no chance of ever succeeding in the marketplace.

The next important thing inventors need to be doing while they are doing everything else I mentioned above is... They need to be coming up with new concepts and designs. I can't understand why an inventor would sit around with the same idea for 10 years. Come up with new material! Surely, if you can come up one good idea, you can come up with more.

My belief is, if you can't come up with more than 1 good idea, then your career is already over because chances are, that ONE idea you have is not going to get licensed anyway.

To add to my last point, coming up with more ideas is great for the simple fact that much of licensing is a numbers game. You may submit 50 ideas to one company and get rejected, but the 51st gets licensed because you had enough material to give yourself enough chances to come back. If you are dealing with competent professionals, they will see that you have talent and that you know what you are doing, and they will keep giving you chances until you make a hit. Just because they reject your idea, does'nt mean that your idea is no good either, it just often times means that the idea is not a fit for that company. So in that case, you just have to take it to another company.


So to review:

1. Stop wasting time on patents. They wo'nt make your idea much more appealing to manufacturers. Manufactuers are looking for concepts that can sell and sell a lot. Only go after a patent if you've just invented something that would be a as big as inventing the wheel, other than that spend your time and energy on coming up with more concepts and designing those and following #2 and #3. What's the sense of having a patent or a number of patents and you are'nt making any money? It makes no sense.

2. Come up with more ideas. If you can come up with one, you can come up with more.

3. Make contact with companies. Get an agent, or contact the companies on your own. You'll get the shown the door a lot, but don't give up. Eventually someone will let you in and you'll be able to build a working relationship. Use email as well, and be professional. Each of your letters MUST be professional. Have all of your designs ready and send it out immediately. If they don't offer an NDA, offer yours and don't send anything until its signed.