Wise words were recently uttered by a savvy senior product strategist, Tom Gray, in a recent article written for Alister & Paine Magazine…
“Before beginning any prototyping, market research, or planning what to spend your millions on after you hit it big, start by scouring the internet for similar products and patents. Talk to a patent attorney and avoid writing your own patent.“
Gray states that it can cost a company interested in licensing a product idea upwards of $250,000 to bring an idea to market.
Gray is able to dispense this advice since he has launched several products into the marketplace over the years, including the Gumleaf Gutter Guard. He also has additional experience gained as a licensing company for other people’s inventions like the Handy Camel bag clip and the Garden Thorn.
“A licensing company is not going to invest that type of capital in a product that has a weak patent or simply patent pending status because the product is unprotected at that stage. The sooner you can apply for a professionally written patent, the better,” he said.
I have put together check list of items related to finding and working with a patent attorney, I hope you find useful.
1. Does your idea meet the four criteria to qualify for a patent?
2. Have you met with a patent attorney?
3. Is your attorney board certified?
4. Have you checked how many years’ experience your attorney has?
5. Does your attorney have patent infringement litigation and defense experience?
6. Does your attorney seem passionate about the work?
7. Does your attorney seem knowledgeable and trustworthy?
8. Does your attorney offer a free initial consultation and nondisclosure agreement?
9. Does your attorney answer your questions in an honest and forthright manner?
10. Have you run (or had your attorney run) a patent search?
11. Have you filled out the patent application completely?
12. Have you told ANYONE who isn’t directly involved about your idea?
Also watch this video below if you are seeking an investor to help launch your idea.