----- Original Message ----
From: J C <cimmino7@yahoo.com>
To: entrepreneursathome@yahoogroups.com
Sent: Monday, June 2, 2008 9:40:26 PM
Subject: Re: [entrepreneurs] I have a Great idea BUT??
Thank You all for your great input. I will be careful but still not sure how to bring this to market?
--- On Mon, 6/2/08, Juanita Herring <jherringtaxprep@ yahoo.com> wrote:
From: Juanita Herring <jherringtaxprep@ yahoo.com>
Subject: Re: [entrepreneurs] I have a Great idea BUT??
To: entrepreneursathome @yahoogroups. com
Date: Monday, June 2, 2008, 2:50 PM
Be careful when dealing with attorneys on this issue too. Make sure you get something in writing from your legal counselor indicating what the project is that he/she is working on with you, in addition to a nondisclosure agreement. Bottom line - protect your ideas at all times.
----- Original Message ----
From: "faithfulfamilyoutl e t@comcast. net" <faithfulfamilyo utle t@comcast. net>
To: entrepreneursathome @yahoogroups. com
Sent: Monday, June 2, 2008 3:35:47 PM
Subject: Re: [entrepreneurs] I have a Great idea BUT??
JC,
Believe it or not coming up with the idea is the easiest part. Now the work begins!
IF your idea is similar to products already on the market or falls closely into an existing industry, you can take your idea to existing companies (while you are applying for the patent) and ask if they receive product or process ideas from outside their company. You will need some non-disclosure boiler plate contracts for the company to sign if you are to share with them and some idea of what your idea is worth.
I know a guy to designed a connecter for those Styrofoam noodles. He took his idea to the noodle company - got $10,000 (while his patent was still pending) and a royalty of the volume of sales (a few pennies per 100 sold). He could have asked for an outright lump sum license few (renewable or not).
So you see you have to ask yourself a lot more questions. "How much am I willing to invest in this idea (time & money)?" That is your next step. A university might help but I have not heard of this happening - not the expert here though.
My advice to you is to go to the US patent office web-site and search for a couple weeks on your idea looking for any prior discoveries. Most patent attorneys will do the same thing first (but charge $200/hour to do this). If you can not find anything that looks like your idea infringes upon - then go get the patent attorney and they should be able to coach the rest of the way through.
I hope this helps, God Bless, Ed R.
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