Invention

[Twoply 0]

Has anyone here gone through the process of taking an invention from your head to making you money? I think I've come up with a few ideas and am right at the beginning of this. One should be able to sell an idea off to a manufacturer I would think.
Any help is welcome.
Thanks
Mike

[ffejdraga 0]

My business partner and I are doing exactly that right now.

The idea is actually the easy part.
My business partner is an inventing genius, and right now we have 4 solid ideas on the tables of various industries, including aviation, pet, industrial and enviromental containers.

One of his ideas will save a company $627,000 per year, and that money gets caputured as soon as our program is in place. Our 'fee' is $197k, so it represents an ROI of 217% IN THE FIRST YEAR! You can hope to have an ROI of 30% if you go offshore, and usually it will take 3-5 years to capture that. The CEO of the company called our program "ingenious" and was super excited about it, and has us meet with his lesser minions, who were also excited, but it got lost in the corporate shuffle. You would think that they would jump at the chance to save that much money, but they aren't.

What you need to do is figure out who the audience would be for your ideas, and then go upstream from there. Sell the idea to someone who will do all the marketing and selling of it. In return, you will get a small percentage, typically of NET profits, typically no more than 7%. But be sure to retain the rights for perpetuity. That way, every time the cash register rings, you get your percentage. Cha-ching.

If you sell the rights outright, be sure it is a number you will be happy with, no matter what the success of it is. You could sell it for a couple hundered k, and then they go on to make it into a billion dollar product line, and there you are with you 200k...

feel to pm me or email at jeff_agard@hotmail.com
if you need or want more info.

Good luck with whatever it is.
jeff D-16906