I am a filmmaker/inventor. My brother & I have been inventing for years but never had the knowledge or funds to go further with them. Due to the poor economy,film work has diminished. We thought this would be the time to explore some of our inventions.
We picked one that would be a small & very inexpensive silicone/plastic product to make that would serve Hospitals, Hotels & Wal-Mart patrons. I have made several protoypes until I found the one that would work as our new product.
I guess my question is what to do now? I looked into Licensing until hearing too many horror stories about companies waiting the 12 month period for your provisional patent to run out,then just stealing your product. This happened to someone I know.
O.k. So next option is to just do it yourself. Right? Only problem is I'm an artist/creator. Business forms/practices blows my mind & makes me sleepy. So, should I seek an investor/business partner to do the paperwork? Give me my product & I will have fun marketing it through commercials & working to get it into stores,but paperwork? Geesh!
My fantasy is to have it be American Made. Is that an option for a first timer with one product? China is making it too easy by their prompt & friendly email responses. American Manufacturers not so eager to contact me back, but I still hate seeing "Made in China".
I am also broke. So, here comes the funding question. Should I be looking for a local,private,angel investor since it's a first time product? Similar to selling a film where it's more of a gamble. Anybodies guess how much money it will make. Of course,I wouldn't have involved myself this much if I didn't believe in my product,but then again who ever speaks negatively of their child? Nobody!
Also need an opinion on Provisional Patents. From what I've read, I almost think they're worthless. In my case, I'm wondering if I should just have the manufacturer sign a non-disclosure,cross my fingers & try to make/sell my product as fast as I can until someone comes along & steals my idea? I expect it as with any product. Not interested in years of litigation.
I'm at a spot in the road where I hope my fellow inventors can give me some insight on which direction to go. Thanks in advance to anyone who posts a reply! I wish you all the best!