Three Tips for Developing Your Ideas
Doesn’t matter how unique and innovative your idea is, it cannot bring the desired results until it is developed into a usable product. An idea should be able to help you make a business around it. It should have usability and marketability. Your idea should be able to generate significant value so that the customers will feel inclined to try your new invention. Also, it should be unique and sellable.
Hence, an amazing idea requires, time effort and perseverance to be developed into a valuable product. Also, your unique creations need to be protected from people who will blatantly copy them to get the rewards of your hard work and dedication.
In such a case, patent law can help you in protecting your unique creation and its exclusive rights. Therefore, an idea needs to be developed to create something valuable. Here are a few tips that can help you develop your idea into an unprecedented product. Read further to know a few tips that can help you develop your ideas.
1. Research
Research is a quintessential step to developing an idea. You need to undertake thorough legal and business research before you start working on your idea. Failing to do so can reduce your chances of getting patent protection for your idea.
First of all, you need to do thorough research on existing patents. Analyze whether your creation overlaps with some other patents that already exist. Also, check any publications or written documents that relate to your idea.
If the know-how of your idea is available in the public domain, there is a lesser chance of you receiving exclusive rights for your creation. Hence, if you are planning to get a patent for your unique idea, you need to begin the process with research.
You can also hire a patent attorney to do patent research for you. You can also check the official websites of USPTO to know about existing patents. This important step can help you save a lot of time, effort, and money.
2. Market analysis
The second step to develop an idea is undertaking market analysis. When you devote a significant portion of your time, resources, and effort to developing your idea, you need to get adequate returns from such an investment.
Your idea should enable the creation of a business. Hence, you need to undertake market research to understand the mindset of your potential customers.
Analyze whether people find your product useful and are they willing to pay for such usability?
Are there any competitors who are solving a similar problem?
What makes your solution better?
How much are your customers willing to pay for the increase in value over competitors’ products?
This critical question will provide you with more clarity about your idea.
3. Create evidence of your creation
Begin the process with an inventor’s journal. Write your idea and get a witness to vouch for the date and time you came up with your unique invention. Gather all the useful information and maintain documentation at each stage. Your investor’s Journals should also have diagrams of the planned product.
The next step is to develop prototypes. Doesn’t matter how good an idea looks on paper, you need to develop a prototype to put your idea to practice. A prototype helps you in presenting your creation to the manufacturer and investor.
Also, there are various aspects of your design that you will notice once you start developing a prototype. An invention goes through many modifications at the prototype stage. Hence, you should develop a prototype before you file for a patent.
Some inventions are difficult to prototype due to the large sum of investment they require, or it may be simply difficult to make their prototypes. In such a case, you can choose to make a virtual prototype.
These are the three crucial steps to develop an idea. The next step is to draft a patent application to protect your idea from getting stolen.