How do I sell a product I invented?
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How do I sell a product I invented?
Three Steps to Selling Your Idea
- Know your market. This means gathering as much feedback as possible on your own invention idea.
- Do some legal legwork. Go as far as you can to determine if your invention is patentable or if it can be produced without infringement on other filed patents.
- Look into production.
How do I patent an idea for a medical device?
Steps to Patent A Medical Device
- Decide if You Need a Patent.
- Decide if You Can Patent.
- Pick the Type of Patent You Need.
- Prepare to Apply.
- Submit Application.
- Work With an Examiner.
- Get Approval.
- Maintain Your Patent Protection.
Can you sell an invention idea?
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. You would collect royalties each time your product is sold.
How much do medical device patents sell for?
With legal fees, these patents often cost $10,000-$30,000. International patent protection provided for by the multinational Patent Cooperation Treaty (PCT), can become even more expensive.
Where can I take my invention idea?
Whether you want to produce and market your invention yourself or license it to another company, the only way to make money from your invention and to guarantee that no one will steal your idea is to file a patent with the U.S. Patent and Trademark Office.
How do I turn my medical device idea into a product?
Turning your medical device idea into a marketed device is a complex process that requires more than simply building a working prototype and attempting to sell it. The medical device commercialization process requires a deep understanding of the engineering, business, legal and regulatory requirements.
How can I Sell my invention idea?
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. You would collect royalties each time your product is sold.
What does it take to get a patent for a device?
For a patent to be granted, the device must be useful (utility), new (novel) and nonobvious (to a person having ordinary skill in the area of the invention). The term of a U.S. patent grant is 20 years from the date of filing of a non-provisional patent application. 4
What is a physician’s role in medical device innovation?
Physicians play an essential role in the medical device innovation process, providing tacit knowledge, technical expertise and clinical experiences and opinions that form the rationale and recommended requirements for new medical devices.