Frustration

Discussion in 'Growing and Managing a Business' started by Willfields, Nov 3, 2011.

  1. Willfields

    Willfields
    uix_expand uix_collapse
    New Member

    Joined:
    Nov 3, 2011
    Messages:
    5
    Likes Received:
    0
    Hello everyone i hope you can help me, I have found a new use for a product that already exists, which will increase the sale of this item immensely. I don't have the money to manufacture it myself so how do i make money from my knowledge? I can't patent it so where does that leave me? can i legally enforce a spotters fee on a manufacturer? i don't know where to go with this and its infuriating!
     
  2. DaveB

    DaveB
    uix_expand uix_collapse
    Member

    Joined:
    Dec 29, 2010
    Messages:
    179
    Likes Received:
    10
    Hi Will,

    Your best bet is to find a funding source and make a prototype. Once you have a prototype you will then have a great shot at getting funding for manufacturing. The reality is not many people if any get paid for just having an idea. Business is much more about execution then ideas. You certainly can not charge an idea fee to anyone and especially for an idea based off an already existing product. This should not frustrate you it should motivate you to go find capital and get the project / idea off the ground.
     
  3. Willfields

    Willfields
    uix_expand uix_collapse
    New Member

    Joined:
    Nov 3, 2011
    Messages:
    5
    Likes Received:
    0
    Thanks a lot for the advice dave, now with a prototype, if I just have the plans and proof of concept on paper would that be enough? Or will I need the physical item?
     
  4. James Greg

    James Greg
    uix_expand uix_collapse
    Member

    Joined:
    Jun 13, 2011
    Messages:
    208
    Likes Received:
    32
    Introducing on paper would be enough to give a vague idea of what your idea is all about. But investors wold like to see a working model too before investing heavily in it thus you should have a working prototype too just in case an investor finds it interesting and would like to explore it further.
     
  5. firstchoicecar

    firstchoicecar
    uix_expand uix_collapse
    Member

    Joined:
    Mar 17, 2010
    Messages:
    713
    Likes Received:
    29
    That is a great Idea get patent,But the most important is to have your funds.
     
  6. td2011

    td2011
    uix_expand uix_collapse
    Member

    Joined:
    Apr 14, 2011
    Messages:
    182
    Likes Received:
    12
    Be sure you have the interest of an investor before spending a fortune on producing a prototype.
     

Share This Page