Naked Science Forum
On the Lighter Side => Famous Scientists, Doctors and Inventors => Topic started by: vdblnkr34 on 22/12/2021 13:04:20
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Hi. This is all sounds good and interesting to read. But, how do you find companies or people to invest or support your project?
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most of the time they look at what you offer and never reply back. How to make negotiations with them in a proper way, so they will continue working with you.
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No manufacturer will discuss an "outside" invention unless it is covered by at least a provisional patent. This establishes priority of invention and protects both you and your prospective manufacturer.
Next thing you need is a realistic projection of costs, and an assessment of the likely market.
And a demonstration of your commitment to the product: how much of your time and money have you already invested and what future involvement are you looking for?
If the product was actually developed for a customer, it is more likely to sell to others - but make sure your first customer hasn't bought the design and production rights. On the other hand a bespoke customer might be interested in marketing the product to others, so you will be jointly seeking a manufacturing contract - much easier than selling the whole idea.
It isn't easy. Less than one feasible product in a thousand ever gets into series production. Paper is cheap: men, money, materials and machines are not! One reason for the dominance of US and German manufacturing industry in the 20th century was the fact that nobody in the UK will lend you a million pounds. High street banks will offer a second mortgage on your house for a hundred thousand, and if the product really flies, merchant banks will quickly find £10M to tool up a factory in China, but the bit in the middle where you scale up from your garage to a small factory is extremely hard to bridge - the UK economy is obsessed with secondhand houses, not manufacturing. German banks are far better at assessing engineering projects, and the USA seems to be populated by individual small investors willing to back an idea.
There are various investors' clubs and sector associations around the country, where you may be able to raise "risk capital" - i.e.shares in a startup company, that will fund your early development and feasibility studies. You will lose some control of the product but gain a lot of credibility by association with "known names" who will also contribute managerial experience and help you grow or sell the whole company. It is an absolute truth that who you know is as important as what you know.
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Thanks. Useful information. Would it happen to know where do I find investors? So many places to look around.
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I spoke to the government and they said copyright of your work is also important. They said I should start with the copyright first. Patent is to get the permission from the government that you allowed to build your invention for sale in this country.
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I spoke to the government and they said copyright of your work is also important. They said I should start with the copyright first. Patent is to get the permission from the government that you allowed to build your invention for sale in this country.
Which country’s government have you spoken to?
The information you have been given is incorrect.
In UK & US law copyright only protects works such as books, articles, songs, photographs, sculptures, etc.
A patent is for an invention, device etc. It does not give you permission to build it for sale, just prevents others doing it.
In order to gain copyright you would need to disclose details and that may then prevent you getting a patent.
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Parton me, forgot to mention that they also provide protection. There is also copyright in works. That allow you to copyright your work.
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Copyright is automatic. You declare your "work of art" (a general term, not just a picture) to be copyright, mark it with the "C" symbol, and sign and date it. Proving breach of copyright is difficult and expensive so it's normal for individual creators to quickly sell or license their song/photograph/novel... to a corporation that can make money by reproducing it.
Patents give you a monopoly to exploit a "means of" doing something. You have to submit your process to a government inspector who (for a fee) assesses its originality and then (for another fee and a maintenance charge) publishes it. This can be triple-edged: others can be inspired to develop a similar but significantly different process and not all countries recognise each others' patents, but an astute manufacturer will keep an eye on relevant patent publications and may approach you for a license to embody your process in a product you hadn't considered. The principal value to a lone inventor is that a corporation won't steal the idea (the penalties for knowingly infringing a patent are huge) but will be prepared to negotiate a fee for using it because your licence gives them the same protected monopoly.