Forums: Discussions for entrepreneurs and small business.

Hi

I have an idea for a new design for an ink pen that offers a specific feature that I know people would love but that is not currently out there.  But I have no patent.  Is there a way to approach a company and share my idea with them for them to consider buying it from me if I don`t have a patent to protect the idea.  Would a confidentiality agreement cover such a situation.

Edward Clutter
ideasforrent.com  "Because an [idea] is a terrible thing to waste."

 

Hi-

I would definitely consult an attorney (one who is experienced with patents) but in my experience, a confidentiality agreement doesn`t offer much in terms of real protection.

Good luck,
Ron

Hello Edward and Welcome to the board!  There are some great attorneys around here so most certainly wait for the professional advice, but here is my 2 cents

A NDA (non-disclosure agreement) or confidentiality agreement is something that you want to be armed with when talking to pretty much anyone if you do not have a patent.  The kicker is that most of the big companies will refuse to sign one because that leaves them open for trouble in case they are also working on the same idea or something similar in house.  It is common for manufactures to require a tangible asset such as a pending patent, copyright, or trademark.  There are cases though that this is not necessary and you could get a deal.  Personally (and this is just me) I would not start knocking on doors until I at least had "patent pending" status.  It sometimes takes years to complete the patent process so I would not wait around for the pretty piece of paper, but I would get the ball rolling.  That is JUST ME.  I`m sure you`ll get some more great advice soon.  Best of luck and keep us posted!  I`m very intrigued by the thought of a better ink pen!

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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
                                                                                                    

Yes Grill Charmer!
  I piggyback your information with the fact that we at NHF  filed a provisional application for the sake of modifications and a covering.  That move alone enabled us to began to showcase our concept to countless people without fear of being robbed. 
Since then we have been contacted by production companies and many who want to help expose our idea. 
Again I agree with the term,"patent pending".  This will allow you time and a covering to showcase your invention as you promote yourself without fear!
   

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Adrian D Griffin
Newhomefitness
Corp: South Bend, Indiana
574-855-4437
1-800-761-0321
www.newhomefitness.com
sales@newhomefitness.com

Either patent the idea then approach a company with the idea of making money from your idea, or just send them the idea and forget about it. They`ll use it or not, and if they do, you`ll get a better product.

confidentiality agreements are not that useful if/when something goes wrong.  consider the patent route.

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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

Thanks for the advice.  it sounds like I need to at least get a patent pending on it before approaching anyone.  I would be interested in hearing how one goes about contacting a company when the time comes.  Is cold calling companies the only way or is there another way?

Edward Clutter
ideasforrent.com  "Because an [idea] is a terrible thing to waste."

More good suggestion here, hope u get big success in your business.

Edward, I like your site. I`m guessing the reason you don`t have a patent is either because you are too busy or you are weighing the benefit to incurring the cost of filing a full patent which can get REALLY expensive.

I would recommend filing at least a provisional patent. You can easily attain a provisional patent for less that $500.  One site I usually recommend is Legal Zoom.

Once you file a provisional patent, you are patent pending and you can go to the table with more leverage.  Keep in mind though that you then have to file for your full patent within 12 months or you lose the protection.

This is a low cost way to protect yourself when pitching a product to a company. 

File the provisional and then see what the interest is in your product before incurring the full cost of the patent.

Good Luck!





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IdeaBuyer.com - Sell and License Your Patents      
My Business Blog

My Email - Feel Free to Email me with Questions

Hello Edward
I wanted to give you my 2 cents ( I have 2 patents)
Depending on what your invention is, look into what type of patent you need ie, provisional,design...etc.
Then you might be able to save yourself a whole lot of money if you used a patent agent instead of an attorney. Regardless, get a patent!! my website has search key words and one of the top words being searched for is patent. I also know someone who bought a product from the designer and beat him to the intellectual property on HIS idea. GOOD LUCK
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