Turning an idea into a product?

[onearmedbandit]

Hey peoples, yes I know I could google it but rather than sifting through 2,675,478 pages of shit, I thought I'd ask here as surely someone here can help, and with relevant NZ input.

So the gist is I have an idea for a product that I can see being affordable to everyone that would have a need for it, solves a problem, is easy to use etc etc etc. I haven't drawn up plans for it yet, I've been going over it in my head for the past month and this morning I think I stumbled onto how to make it work easily. So what do I do? If it's as good as I think it is I want to protect my idea. Then I'll need someone (an engineer) to knock one together for me (once I've got the final design sussed), then if it's all go I guess I'm going to need some capital behind me to start manufacturing.

So where do I start?


(Man I feel like a bit of a 'dreamer' with this idea, but it's just me being cynical towards myself, if someone else came to me with this I'd think it's a goer...)

[Pussy]

Not this, is it, Fraser??

[onearmedbandit]

Ah fuck, beaten to the punch by Mr Bean.

No, no it's not lol.

[mashman]

We googled for a while to find someone who may be able to manufacture what we're looking at. Next step is to go and have a "chat" with them (currenty sweating over wether to patent or not), and then see if we can get it to market, or at least climb aboard shanks pony and try to find a market or two...

It'll be interesting to watch the thread, and iffen we find out anything useful along the way, then we'll post it up .... good luck OAB

[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?

[bogan]

Does dragon's den still run?

Not too sure, but if you figure it out let me know! If it's simple/affordable it may be fairly easy to knock a prototype together? get different people to make different bits if you are worried about IP. If it's motorcycle related and you want an engineers opionion, in confidence, give me a PM.

[mashman]

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?

aye, same dilemma here. Oh to have such trust in people eh... you go first, if you get shafted we'll patent ours

[bogan]

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?

Ideally, ethics, good luck with that shit these days though! I've heard from workmates that patenting is tricky buisness, as long as anothers design is 10% (iirc) different, it's all good. And if it's still in the design stages, chances are your own stuff will be 10% different by the end. Also, if you don't write the patent properly, it becomes way easier to bypass.

[onearmedbandit]

Does dragon's den still run?

Not too sure, but if you figure it out let me know! If it's simple/affordable it may be fairly easy to knock a prototype together? get different people to make different bits if you are worried about IP. If it's motorcycle related and you want an engineers opionion, in confidence, give me a PM.

If Dragon's Den was still running I'd be up there in a flash. I've just drawn out a basic plan of it, and it appears that it will work as designed. Good idea about getting different people to make the different pieces. Ideally it's going to be a singular complete unit, but the prototype could easily be made of 4 or 5 separate components.

[ac3_snow]

"What is Innovate! Manawatu?

Some of you might have heard about this initiative or seen our posters going up around campus. This inventors/entrepreneurs competition is brought to you by the BCC and Palmerston North City Council with the aim of developing sustainable business in the Manawatu. Massey University is one of our four key sponsors (Innovation Partners), the others being The Radio Network, Manawatu Standard and Jumprope.

Over March-May 2011 inclusive we’re looking for people with great ideas for an invention, business or service who want the opportunity to access the resources and support to make their idea real. There is a $20,000 cash prize up for grabs for the winning entry and other minor prizes too. Innovate! Manawatu is all about helping people turn their ideas into thriving business. The competition is open to anyone - inventors, scientists, students, researchers, garage inventors and of course you!

See our website www.innovatemanawatu.co.nz for details."


I'm organising something similar on the Albany Massey campus up here, but what I'm doing is just for students. From what I understand the event in Manawatu is open to any and everyone, sure they wouldn't mind long distance entries either.

surely $20,000 would help getcha goin?!

[trumpy]

I used to, along with a friend, have a Technolgy Transfer company alongside our other business activities. We eventually gave it up because the inventors nearly drove us nuts! Most were hugely unrealistic about what they were going to get out of it, especially if they were getting paid royalties, which is often the way if you have no cash of your own to invest. We spent 6 months trying to convince an inventor that after the investor had fronted up with US$60,000 for the worldwide patent, another US$350,000 in manufacturing set up costs and that much again for marketing he was unlikely to get 50% of net profit as a royalty (the accepted figure being closer to 6% to 8%). 100% of nothing is still nothing which what he now has.
Having said that you can go in "softly, softly" yourself and control as much of the process as you can.
Patents costs are considerable and not worth the cost unless you are pretty sure about the product. Design copyright is much cheaper and quite effective. To further protect yourself never give one company the job to produce the whole prototype. Split it up and give different parts to different companies so no one gets to see the complete product except you. This should be no problem if the parts have been drawn up properly.
If the product manufacture is going to require tooling this could add considerably to the prototype cost and needs to be factored into the manufacturing cost. We have always preferred to own our tooling so, should a manufacturer not deliver to spec, you can go somewhere else.
There's lots more to this process that you need to know and I will try to add some more when I get a spare moment.

[onearmedbandit]

surely $20,000 would help getcha goin?!

$20,000 would surely help, although call me paranoid but I'm hesitant to put my idea out in the public domain yet without full control on it. The idea is so simple, so obvious that really I'm surprised it hasn't been done before, well at least from my searching it hasn't.

[Daffyd]

Get a good patents lawyer.

[bogan]

"What is Innovate! Manawatu?

Some of you might have heard about this initiative or seen our posters going up around campus. This inventors/entrepreneurs competition is brought to you by the BCC and Palmerston North City Council with the aim of developing sustainable business in the Manawatu. Massey University is one of our four key sponsors (Innovation Partners), the others being The Radio Network, Manawatu Standard and Jumprope.

Over March-May 2011 inclusive we’re looking for people with great ideas for an invention, business or service who want the opportunity to access the resources and support to make their idea real. There is a $20,000 cash prize up for grabs for the winning entry and other minor prizes too. Innovate! Manawatu is all about helping people turn their ideas into thriving business. The competition is open to anyone - inventors, scientists, students, researchers, garage inventors and of course you!

See our website www.innovatemanawatu.co.nz for details."


I'm organising something similar on the Albany Massey campus up here, but what I'm doing is just for students. From what I understand the event in Manawatu is open to any and everyone, sure they wouldn't mind long distance entries either.

surely $20,000 would help getcha goin?!

fuck I need to get out of my office (manawatu massey) more, first I've heard about this. Will have to look into that

[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.
He engineered the prototype himself and then took it to an engineer with cnc equipment.
There were 3-4 evolutions created which solved problems and developed the idea. They lived under his bench in a cardboard box (useless in reality, but served their purpose).
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).
He used the product heavily in his sport and other orders came in.
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.