Forums: Discussions for entrepreneurs and small business.

I am looking for some valuable suggestions for my Idea. Its a product very useful for an ordinary/common man and even business people. In my research, I found out that it is not out there and to support the usefulness of it, I have called, PayPal, Chase Bank and even AMEX to see if my idea holds any value. I am throwing big names here to show that I am serious about my idea and asked them few questions to make sure my product will work if implemented properly.

About me:

1. I often get many great ideas and all of them are unique.
2. I am a software guy with over 12 years of industry experience. I have worked in the very functional area of the business myself where this product can be very useful.
3. I wanted something more than a website this time so it is very different but quite catchy idea.
4. I dont think of a Pokers web site or a common game, or gambling or some off-shore real estate investment ideas. Not that these ideas aren;t great but I think of very unique things unlike a common man.
5. I make good amount of money in my work as a software engg.
6. I have done enough research on my idea. Even spoke with one very successful businessman who owns few Mil dollar business himself. He is working on his business. In our discussion, he gave me few points to work on to. Being a technical guy, I have looked into those which are more business type of problems. In my research, I came up with very promising results after speaking with PayPal, Chase Bank etc. Technical side of it can be solved by some technical guy. There are thousands of techies all over the world. It doesnt need lot of research on the product, just a knowlegeable team can work it out easily.
7. I have very little but valuable experience myself of unsuccessful start- up> We failed because of Time-to-Market factor. This time I want to go aggressively on my idea.
8. I am very bad businessman myself. I dont think like businessman obviously because I am not one.

Hi GMB!  I know you said you have done enough research, but I didn`t see you mention the 1 place that is an absolute necessity to search, search then search again and that is www.uspto.gov

Only 3-5% of all "ideas" make it "out there" so just because you have not found it, doesn`t mean that someone else doesn`t own the IP.  A true patent search is so very very important. 

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Leslie
Founder and President
Charmed Life Products LLC
Grill Charms™… The MUST HAVE grilling accessory that is revolutionizing the American Cook-out AND The perfect gift for any occasion!
Grill Charms
                                                                                                    

why are you discussing this idea with others before filing a patent application?

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James Lindon, Ph.D. Patent Attorney
Lindon & Lindon, LLC
Cleveland, Ohio
Patents, Trademarks, Copyrights, Pharmacy Law, Litigation
[this is not legal advice - provided for discussion only]
Intellectual Property for the Individual and Small Business: Identify, Protect, Enforce, Defend.
"Fools rush in where angels fear to tread."
http://www.LindonLaw.com

Hello James & Charmer,

Thanks for replying on my post. You are probably right. But trouble is its very hard to describe what product it is. So I am really not sure how to search it in the patent DB.

I was out for a week end break and I met there a friend of mine who works as a Product and Pricing Manager for a huge company. He kinda discussed some value based pricing for such products and said this prodct could be very valuable to the consumers if the whole business plan is implemented properly. He liked the whole idea and suggested me many things. But the trouble is there are many things that he told me I didnt understand. Lets see.

And of course I am not going to discuss the details here. I wanted to know how should I go about it. I will start working on a business plan and then take it from there.

when did you file your patent application?

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James Lindon, Ph.D. Patent Attorney
Lindon & Lindon, LLC
Cleveland, Ohio
Patents, Trademarks, Copyrights, Pharmacy Law, Litigation
[this is not legal advice - provided for discussion only]
Intellectual Property for the Individual and Small Business: Identify, Protect, Enforce, Defend.
"Fools rush in where angels fear to tread."
http://www.LindonLaw.com

James,

I have not filed it yet. I was looking through the databse to check if it is already registered by some1.

which database?  how were you checking?

-------------------------

James Lindon, Ph.D. Patent Attorney
Lindon & Lindon, LLC
Cleveland, Ohio
Patents, Trademarks, Copyrights, Pharmacy Law, Litigation
[this is not legal advice - provided for discussion only]
Intellectual Property for the Individual and Small Business: Identify, Protect, Enforce, Defend.
"Fools rush in where angels fear to tread."
http://www.LindonLaw.com

Hey GMB, you`re on the right track with a business plan.  It is an invaluable document that I still refer to on a regular basis.  If you are not sure how to do a patent search by all means enlist the help of a patent attorney or at least www.legalzoom.com  Getting the IP or at least searching make sure you`re not infringing is so important as the rest might all be a complete waste of time should someone else already own the rights.  Best of luck!!!

-------------------------

Leslie
Founder and President
Charmed Life Products LLC
Grill Charms™… The MUST HAVE grilling accessory that is revolutionizing the American Cook-out AND The perfect gift for any occasion!
Grill Charms