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 Look Before You Leap!

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Roger Brown

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Location : South Carolina

PostSubject: Look Before You Leap!   Wed May 06, 2009 1:50 am

I get requests everyday from Inventors wanting my help getting their product licensed. Since they have seen that I am able to get my products licensed spending less than $100, they want me to do the same for them. The problem is they don't do the same amount of homework and researching I do before spending any money. A large majority of Inventors could save themselves thousands of dollars if they would just take the time to check on their idea first. I have made several Inventors extremely angry when I point out that their million dollar idea (that they have spent thousands on at an invention submission company) is already on sale at Wal-Mart or Lowe's.
Inventors need to follow the "Look before you Leap" logic.

www.rogerbrown.net
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Bill Goldblatt

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PostSubject: Re: Look Before You Leap!   Wed Jun 03, 2009 3:21 pm

Just to add...

Just because your invention isn't on sale at Home Depot or Lowe's....doesn't necessarily mean it hasn't already been described in 50+ patents...amongst other things...

This is just to add the hopefully obvious clarification that, your research should certainly extend beyond checking whether your product is on sale at Wal-Mart or Lowe's or the equivalent, regardless of your situation and how much you have invested in an invention. In my experience most inventors claim to look before they leap, but many presumably simply go through the motions superficially (and in other cases their eyesight is probably just bad).
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Roger Brown

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Location : South Carolina

PostSubject: Doing Research   Thu Jun 04, 2009 2:11 am

Bill, very good comment. My frustration comes from the person who I have never talked to before that day (after we sign a nondisclosure) tells me about their idea swearing there is nothing like it on the market and within minutes I find several websites carrying that item. You have to do a combination of research just looking in stores is not enough and just searching the patent office website is not enough. If you find a patent it does not automatically mean there is a product on the market for that patent.
One other reason I suggest searching stores is to see who your competition is prior to getting it to market. You need to know the size of your market, is it flooded with products or is it a niche market. Is your product going to stand out form the others or just blend in and get lost?
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Sally Hopkins

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Location : Northlake, IL.

PostSubject: Re: Look Before You Leap!   Wed Jul 15, 2009 3:13 pm

Hello,

Let's say you have done a ton of "homework", and have covered all of your bases. Can it be that there is a patent in the process that hasn't been made public yet? Is that possible, and should that be a concern?

Thank you so much for your time flower
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Bill Goldblatt

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PostSubject: Re: Look Before You Leap!   Wed Jul 15, 2009 10:13 pm

Sally Hopkins wrote:
Hello,

Let's say you have done a ton of "homework", and have covered all of your bases. Can it be that there is a patent in the process that hasn't been made public yet?

Certainly.

Quote :
and should that be a concern?

It is a reality, period. You can't control it, so it is what it is. If it is a concern to you, inventing (and entrepreneurship in general) is not up your alley. Where it is not a concern, it is one more reason why, as if you were to invest in the stock market, you might strive to hedge risk by diversification (i.e. other income streams) and/or by not investing what you can't afford to lose.
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