Forums: Discussions for entrepreneurs and small business.

Ladderless,

you are right on the "money". excellent comments and very clearly to the point.

emmytay

 1. What did you file as a provisional patent? If it is complete, why did"t you file for the patent? The real expense is in writing the patent, the description, and most importantly the claims. If you file something less than all of the information, you will jepordize your position later, if you add material , you lose the earlier filing date, if you go past the year limit, it becomes public domain, and you lose the whole thing!  The filing fees are not the big expense, it is having the patent properly written , usually by a competent attorney that is the biggest expense. Or you could go the route I did with my first patent, I purchased a book "Patent it Yourself " from NOLO Press publisher, and spent roughly 200 hoours writing, drawing , reseaching , etc. Then took it to a patent attorney , because I did not want to jeopardize my investment of time, and he reviewed it , and made a few changes, for $2000.  Today, I spen between $5500 and $10,000 to have my attorney do it all, the first one pays for it. Unless this is the last idea that will ever pop into your head, you need to use this as a stepping stone. I think you are wrong that foreign manufacturers will not take you seriously if you only have a US Patent. If you can restrict access to this large a market, and they need to build different product to ship here, that is an inconvenience. If their competitor licences your invention and enters this market with it, and it is as good as you say it is, then they will lose market share if they do not license it from you. If these manufacturers sell product in foreign markets with your idea attached, you can pressure them to license it in the US Market , only if they respect your rights on foreign soil. One thing that they will NOT respect is a provisional Patent. It is a time bomb ticking, and it shows you did not develope your invention as a patent on paper thoroughly enough to spend $1000 filing fee!  If you really spent $40,000 developing oyur idea, what is stopping you from spending $5000, to 10,000 to get the right kind of protection?  I am guessing some type of vehicle stabilization device that shifts the weight toward the rear wheel, lifting the front, and dropping the back of the motorcycle in a hard stop, thereby maintaining the maximim friction between the tires, and the road surface. This coupled with anti lock brakes could make a motorcycle much safer!  Better file soon before someone else come up with your idea!  You can`t just sit on it, the clock is ticking! 

 Mmmmmm, just thinking, what I would do in your position is to approach local MC dealerships for the main brands with a binding confidential agreement and get them to do the leg work and kick it up stairs. Remember a patent is only good if everyone follows the rules as alot of people have found out over the last few years.
If it is as good as you claim one of the majors will mass produce it in China and flood the market before the opposition can catch their collective breath. Tie them up to a small margin per unit, some consultant fees, kick back and watch the dollars roll in.


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