“How can I make money off of my invention?” is probably the most common question when people create the next great idea. The team at Idea Design Studio is prepared to walk you through the steps to decide your best course of cation. Here’s a list of things to study up on when deciding if you can turn your idea into money.
- Understand intellectual property – it’s time to figure out how to protect your intellectually property. There are several ways to do so and the team at Idea Design Studio can help you determine which one is in your best interest for each idea.
- Decide if the idea is patentable – If your intention is novel, useful, and nonobvious you can apply for a patent. It is not new if it is too similar to another invention or was described in a printed publication in any other country. Of course you must also prove that it is your idea, reminds Idea Design Studio.
- Learn about Patents & Inventions – After deciding that it’s time to protect your idea, determine which of the three basic types of parents is your best choice. Or, in the case of literary work, you’ll need to copyright it.
- Search for prior art – No, we’re not talking about just drawings, we’re talking about any knowledge that relates to your invention. Doing a prior art search includes trade journal articles, publications, discussions, trade shoes, and public use anywhere in the world, on top of the patent search.
Making money off of an invention is not easy, but the team at Idea Design Studio makes the process easier. They are with you ever step of the way and fully support your decisions throughout. Want to know more about how to make money on your good idea? Read on in parts two and three.