Turning an idea into a product?

**onearmedbandit** · 14th March 2011, 11:05

Thanks Trumpy. I came up with this idea to solve a problem that affected me, then I realised it could be sold and money could be made. Unlike your experiences if someone offered to front the costs I'd be happy to receive that 6-8%. If however I need to source my own funding then I'll be expecting to be fully in control.

As far as tooling goes I really don't see too much involved. 90% of it is very straight forward, the last 10% isn't overly complex but it will need further developing before it's turned into a working product.

**onearmedbandit** · 14th March 2011, 11:07

Originally Posted by Swoop

A mate did something similar a year or so back.
He came up with a much improved model of a piece of racing hardware.
..........................
In the end an Australian company who has a global market came along. After protracted negotiations they bought him and a partner out, requiring ALL documentation, plans, prototypes and even computer hard drives.
Financially he did very well.

Thanks Swoop. I'd be quite happy for this to scenario to play out the same way your mates did, wouldn't we all though.

Keep the feedback coming peoples, I'm learning lots and getting more enthused about it all by the minute, which funnily enough is stressing me out more and more by the minute...

**Buyasta** · 14th March 2011, 11:23

Originally Posted by Swoop

He did not patent or copyright the product! The reasons were that the chinese could steal it easily & legal action would be a waste of money trying to pin the fuckers down. (Lawyers being the only winners).

I think this is a fairly good point, a patent will only get you so far - even if you get one you'll still get Chinese clones if it's successful, and for that matter even in countries with strong patent laws, some companies will ignore patents if they can make more profit off a product than it'll cost them in legal fees, as evidenced by this charming display of how "ethical big business" need not be an oxymoron.

We considered patenting; we prepared a patent and it was nearly filed. Then I had an interaction with a big, multinational electronics company. I approached a guy at a conference and said, "We've got this patent coming up, would you be interested in sponsoring it over the years?" It's quite expensive to keep a patent alive for 20 years. The guy told me, "We are looking at graphene, and it might have a future in the long term. If after ten years we find it's really as good as it promises, we will put a hundred patent lawyers on it to write a hundred patents a day, and you will spend the rest of your life, and the gross domestic product of your little island, suing us." That's a direct quote.

**Swoop** · 14th March 2011, 11:26

Originally Posted by Buyasta

I think this is a fairly good point, a patent will only get you so far

Quite so. The renewal fees associated with the patent add up over the years...

**bogan** · 14th March 2011, 20:48

Another question for those in the know about patenting, what happens when you don't bother, can somebody else recreate and patent your shit (i'm guessing/hoping not) and what about them patenting possible obvious developments to what you design?

**steve_t** · 14th March 2011, 20:52

Check out the Intellectual Property Office

http://www.iponz.govt.nz/cms

**tigertim20** · 14th March 2011, 21:18

Originally Posted by onearmedbandit

Thanks mashman. Yeah I figured getting it made would be the first step before obtaining a patent, but what's to stop the outfit that makes it from making their own version if the idea isn't patented?

Interesting thread. I would start by looking into what exactly you need to do to Obtain a patent. You may not actually need to have a working prototype to get the patent, if thats the case, then sweet, do the design etc and get the patent.

Second option, is approach a company that would be capable of building one for you. Have a lawyer write up a contract that states the following basics.
Its YOUR idea, and this company will build the prototype for you, AND AGREES TO NOT STEAL THE IDEA, and in return, if you can get it into production, they have the first right of refusal for mass production. You may even find they will provide the capital required to get it up and running, OR even buy the idea off you altogether.

Id be looking at patent stuff first though, that narrows down your second step alot more.

Good luck!

**CookMySock** · 15th March 2011, 08:00

Originally Posted by trumpy

Split it up and give different parts to different companies so no one gets to see the complete product except you.

Until the chinks buy one and reverse-engineer it, like they have done with everything else.

**Maha** · 15th March 2011, 08:13

I had an idea years ago..coffee bags! like tea bags only with coffee..most around me at the time laughed and asked why?
I see now you can buy coffee bags.

My other idea of having rear view mirrors stuck the a riders helmet so the pillion can see whats going on behind has yet to be taken seriously.

**oneofsix** · 15th March 2011, 08:18

Originally Posted by Maha

I had an idea years ago..coffee bags! like tea bags only with coffee..most around me at the time laughed and asked why?
I see now you can buy coffee bags.

My other idea of having rear view mirrors stuck the a riders helmet so the pillion can see whats going on behind has yet to be taken seriously.

Don't let those who lack your imagination put you off. Though the reviw mirrors for pillions could use some work

**Drunken Monkey** · 15th March 2011, 08:23

Originally Posted by onearmedbandit

Thanks mashman. Yeah I figured getting it made would be the first step before obtaining a patent, but what's to stop the outfit that makes it from making their own version if the idea isn't patented?

A good contract should stop that, even without a specific patent on the idea you can protect the work that is done for you.

**Drunken Monkey** · 15th March 2011, 08:30

Originally Posted by bogan

Another question for those in the know about patenting, what happens when you don't bother, can somebody else recreate and patent your shit (i'm guessing/hoping not) and what about them patenting possible obvious developments to what you design?

In short, yes. You can have it changed through lengthy legal proceedings if you've got good evidence that you came up with the idea before them (dated drafts, written communication with others discussing key points), and even then you'll have to prove they didn't independently come up with the idea.
In short the advice from patent lawyers is no matter how expensive it looks to do the patent paper work early, it's always cheaper than trying to work out a mess later.

A couple of my friends work at Baldwins if someone does need a contact in patent law.

**Drunken Monkey** · 15th March 2011, 08:34

Originally Posted by oneofsix

Don't let those who lack your imagination put you off. Though the reviw mirrors for pillions could use some work

Imagine what one of those would do to your neck if it catches on something (like when you fall off in an accident)!

There's already a trade off with helmets, there's still an outside chance the extra weight of the bloody thing on your head can increase the trauma to your neck. I want my helmet to reduce my injuries, not make them worse.

Unless of course your mirrors are small, close to the eye and inside the helmet. Maybe fibre optics through the shell to redirect the image. But stuck on the outside? No effing way.

**Maha** · 15th March 2011, 08:41

Originally Posted by Mr Gullible

Imagine what one of those would do to your neck if it catches on something (like when you fall off in an accident)!

There's already a trade off with helmets, there's still an outside chance the extra weight of the bloody thing on your head can increase the trauma to your neck. I want my helmet to reduce my injuries, not make them worse.

Unless of course your mirrors are small, close to the eye and inside the helmet. Maybe fibre optics through the shell to redirect the image. But stuck on the outside? No effing way.

Yet another detractor...