I need advice on cashing years of chemical inventions into some sort of business.

Discussion in 'Growing and Managing a Business' started by khamaar, Jan 31, 2013.

  1. khamaar

    khamaar
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    Hi, and thankyou for clicking this, and please be kind enough consider me completely naive in the world of business.

    My situation is this. My family is into chemistry. For years, (almost 32 years), this family has been researching in the different branches of chemistry, it has been inventing, discovering, designing etc.... Most of the inventions are in the world of nanotechnology. Uniform fine particles of a vast variety of compounds, Remarkably efficient gas sensing compounds, high performance lubricants, dental materials, etc make up the list of what my family has achieved. However, all we have done is publish loads research papers, complete projects, attend conferences, and produce PhD students......nothing more than that!

    I am a 20 year old of this family, and have been assigned the task to "somehow" work out a way to commercialize these materials. I live in Pakistan, and there is a lot of room for developing businesses here....So No matter how little profit comes in the start, my family wants me to have a start..... I dont know, im absolutely blunt and dumb in this regard, i dont know where to start, who to contact, what to do?

    Please advise me, Please......
     
  2. Rocky

    Rocky
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    First thing you need to do is patent all your inventions.
    Next up, if you have the funds to do so you can set up a manufacturing unit to produce your products in wider scale and then sell it. If not, you can approach pharmaceutical companies in your country with your proposal and see if they interested in your patented products. You can let them market your product with an agreement of getting royalty in return for the sales made.
     
  3. Fergal

    Fergal
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    khamaar you should probably seek the advice of a lawyer who specialises in intellectual property. One thing that would concern me is that once you publicise the know how behind an invention, that information is then in the public domain and you can no longer patent the invention. Intellectual property law is extremely complex, hence I recommend you seek the advice of a legal specialist in this area.

    How does your family make a living, do they work in academia or in business?
     

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