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The six steps to sell your invention

The path of innovation is not easy; only 4 out of 100 inventions become products in the market.

If you are an innovator you have already made a great journey along the way, it is time to turn those ideas into a business.

We offer you all our collaboration and experience to bring your projects and ideas to reality. For this reason, we have compiled for you, some of the steps that successful inventors have followed in order to sell their patent to companies, find financing or formalize their own business. Do not miss these tips of interest that will give you ideas to get the most out of your invention.

1. Patent your ideas:

It is a fundamental step, where the inventor reserves his exploitation rights. It is a technical document that is presented to the patent office, in most cases expert advice is required to write the application correctly. Once your application is delivered, it is advisable to initiate actions immediately and in this way take advantage of the first year of international protection. Time runs against you! Evaluate your commercial or communication options from the start!

2. Create functional models or prototypes:

It is the best way to sell aninvention idea since the characteristics of your invention can be seen in an actual way. The development of models or prototypes will allow you to make design corrections, plan production and control the correct operation of your invention. As a general rule, it is recommended that small products have a prototype that allows understanding of the use and advantages of innovation.

3. Create a company or sell my patent?

This is one of the great questions of the inventors. If it is a unique product, perhaps the best decision is to give up your exploitation rights to a company that can integrate it into their usual line of work. If you have a variety of products or applications of your idea, you should consider starting your own company.

4. Business plan/market studies:

If you decide to start your own business, conducting a market study will allow you to establish the real expectations of your invention in the market. Business plans are much more specific; they are recommended to start your own business and are essential if you are looking for an investment of capital funds.

5. Complete the communication tools of your invention:

The lack of effective communication is the most common reason why many patents are forgotten at home. Having basic communication elements is essential for your invention to be known and to reach the market. Investment in communication should be prioritized and continued if we want to have an opportunity in the difficult patent market.

6. Present your invention at fairs:

Presenting your invention in commercial events is one of the best ways to know the real response of entrepreneurs and the general public. It is important to select well the events in which the product will be presented because each event involves significant expenses and preparation time. The most successful is betting on industrial fairs in which you will surely meet experts from the sector. From our experience, we can tell you that the inventions that get licensed in different countries have been presented in 4 or 5 fairs around the world, before finding the ideal market.

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