Turning an idea for a new product into a commercial success is no easy task. It requires careful planning, research, and hard work to bring the idea to fruition. The invention process involves many steps – from concept development through market research and successful final products. Each step of the development process must be carefully considered in order to ensure that all necessary preparation has been done before launching your product on the market. This includes conducting research on potential customers, staying up-to-date with business news, creating a business plan, researching similar ideas already available in the market place, and even consulting with patent attorneys or filing at the trademark office if needed. Often times it can feel like an overwhelming task as you grapple with developing prototypes and finding potential manufacturers while ensuring that your finished product rarely resembles any other existing products – but taking things one step at a time can make this journey much more manageable! With some free training resources available online or even computer aided design software programs out there today, aspiring entrepreneurs have access to all of the tools they need to turn their concept into reality; however understanding intellectual property law is key before starting this venture so that you are sure you have legal right over your own product ideas. Here we will discuss how to take your idea from conception.
Step 1: Identify Your Target Market
The first step in taking an idea from conception to commercial product is to identify the target market for the product. This involves researching and understanding who your potential customers are, their needs, and how those needs can be addressed with your product. It also involves researching what similar products exist in the market and how your product is different.
Step 2: Develop Your Product Idea
The next step in the process is to develop your product ideas and determine if it’s feasible. This includes researching existing products, developing a concept for your own product, conducting market research, and deciding on a retail price for the product.
Step 3: Begin Your Own Product Development Process
The third step in the process is to begin your own product development process. This includes conceptualizing the idea, developing prototypes of the product, and conducting research into manufacturing processes and materials that could be used to create the finished product. It also involves researching trademarks and going through the necessary steps to receive a utility patent, if applicable.
Step 4: Acquire a Utility or Design Patent
If necessary, the fourth step in the process is to acquire a utility or design patent for your invention. This involves filing an application with the United States Patent and Trademark Office (USPTO) to protect your idea from infringement. In doing so, you should consult an experienced patent attorney. As a former U.S. Patent Examiner and a patent attorney with over 30 years experience, I have assisted many inventors to successful outcomes. Not every idea will succeed, but many have.
Step 5: Find Potential Manufacturers
The fifth step in the process is to find potential manufacturers who can help you turn your concept into a tangible product. This includes researching potential manufacturers and conducting due diligence to ensure that they have the capability to produce a quality product.
Step 6: Develop the Finished Product
The next step in the process is to develop the finished product. This includes working with a manufacturer to create prototypes, refining the design of the product, and testing it for durability and performance. It also involves researching trademarks and filing for intellectual property protection for any logos or designs associated with your product.
Step 7: Marketing and Sales
In my opinion this is the most difficult step of all. There are many firms that can assist with marketing and sales or a product, such as independent sales representatives or companies that specialize in your product. However, there are many scams by companies claiming to be invention marketing companies. Be aware and carefully consult your patent attorney before using such companies.
Taking an idea from conception to commercial product is a complex process that requires research, planning and dedication. However, with the right resources and guidance, it can be done successfully. By following the steps outlined above such as identifying your target market, developing your product ideas and acquiring a utility patent you can ensure that you have taken all of the necessary precautions before launching any new products on the market. With some free training resources available online or even computer aided design software programs out there today, aspiring entrepreneurs now have access to all of the tools they need to turn their concept into reality; however understanding intellectual property law is key before starting this venture so that you are sure you have legal right over your own product ideas.