The light bulb above your head is glowing so bright that it's threatening to blind everyone around you. But what should you do with your great invention ideas? Before you start blabbing about your invention to the wrong person or run to the first company that offers to buy it, you need to do one thing: protect it.

Related: 11 Ways to Stop Companies From Ripping Off Your Invention

Whether you want to produce and market your invention yourself or license it to another company, the only way to make money from your invention and to guarantee that no one will steal your idea is to file a patent with the U.S, how to make money from ideas and inventions. Patent and Trademark Office. This can be an intimidating process, so we spoke to Andy Gibbs, the author of Essentials of Patents to help break it down for you in five easy steps.

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Step 1: Document It

Simply having an "idea" is worthless — you need to have proof of when you came up how to make money from ideas and inventions the invention ideas. Write down everything you can think of that relates to your invention, from what it is and how it works to how you'll make and market it. This is the first step to patenting your idea and keeping it from being stolen. You've probably heard about the "poor man's patent" — writing your idea down and mailing it to yourself in a sealed envelope so you have dated proof of your invention's conception. This is unreliable and unlikely to hold up in court.

Write your idea down in an inventor's journal and have it signed by a witness. This journal will become your bible throughout the patent process, how to make money from ideas and inventions. An inventor's journal can by any bound notebook whose pages are numbered consecutively and can't be removed or reinserted. You can find specially designed inventor's journals at bookstores such as Nolo Press or the Book Factory, or you can save money and purchase a generic notebook. Just make sure it meets the requirements above.

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Step 2: Research It

You will need to research your idea from a legal and business standpoint. Before you file a patent there are two main steps you should take.

Complete an initial patent search.

Just because you haven't seen your invention doesn't mean it doesn't already exist. Before you hire a patent attorney or agent, complete a rudimentary search for free at www.oldyorkcellars.com to make sure no one else has patented your idea. You should also complete a non-patent "prior art" search. If you find any sort of artwork or design related to your idea, you cannot patent it — regardless of whether a prior patent has been filed.

Research your market.

Sure, your brother thinks your idea for a new lawn sprinkler is a great idea, but that doesn't mean your neighbor would buy one. More than 95 percent of all patents never make money for the inventor. Before you invest too much time and money into patenting your invention, do some preliminary research of your target market. Is this something people will actually buy? Once you know there's a market, make sure your product can be manufactured and distributed at a low enough cost so that your retail price is reasonable. You can determine these costs by comparing those of similar products currently on the market, how to make money from ideas and inventions. This will also help you size up your competition — which you will have, no matter how unique you think your invention is.

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Step 3: Make a Prototype

A prototype is a model of your invention that puts into practice all of the things you have written in your inventor's journal. This will demonstrate the design of your invention when you present it to potential lenders and licensees. Do not file a patent before you have made a prototype. You will almost always discover a flaw in your original design or think of a new feature you would like to add. If you patent your idea before you work out these kinks, it will be too late to include them in the patent and you will risk losing the patent rights of the new design to someone else.

Here are some general rules to keep in mind when prototyping your invention:

1. Begin with a drawing. Before you begin the prototyping phase, sketch out all of your ideas into your inventor's journal.

2. Create a concept mockup out of any material that will allow you to create a 3-D model of your design.

3. Once you're satisfied with the mockup, create a full-working model of your idea. There are many books and kits that can help you create prototypes. If your invention is something that will cost a lot of money or is unreasonable to prototype, like an oil refinery process or a new pharmaceutical drug, consider using a computer-animated virtual prototype.

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Step 4: File a Patent

Now that you have all of the kinks worked out of your design, it's finally time to file a patent. There are two main patents you will have to choose from: a utility patent (for new processes or machines) or a design patent (for manufacturing new, non-obvious ornamental designs). You can write the patent and fill out the application yourself, but do not file it yourself until you have had a skilled patent professional how to make money from ideas and inventions it over first. If the invention is really valuable, someone will infringe on it. If you do not have a strong patent written by a patent attorney or agent, you will be pulling your hair out later when a competitor finds a loophole that allows them to copy your idea. It's best to get legal help now to avoid any legal problems in the future.

Follow these steps to help you choose the best patent professional.

1. Do your homework. Have your inventor's journal, prototype and notes with you. This will save them time and you money. This will also help persuade them to work with you.

2. Make sure they are registered with the U.S. Patent and Trademark Office.

3. Ask them what their technical background is. If your invention is electronic, find a patent professional who is also an electrical engineer.

4. Discuss fees. Keep your focus on smaller patent firms. They are less expensive and will work more closely with you. Agree to the estimated total cost before hiring your patent professional.

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Step 5: Market Your Invention

Now it's time to figure out how you're going to bring your product to market.

Start with a business plan. How will you make money? Bitcoin investering 6 days will you manufacture the product? How will you sell it? Now is a good time to decide if you will manufacture and sell the product yourself, or license it for sale through another company. When you license your product you will probably only receive two percent to five percent in royalty fees. This often scares away inventors who feel they deserve more. But consider the upside: you will not have the financial burden associated with maintaining a business. This could end up making you more money in the long run.

It's also important to remember that from the time you conceive your idea to when you see your product on the shelf can be a very long process. Most inventions take years to come to fruition. Have patience and follow due diligence in your steps to patenting your invention and your years of hard work will finally pay off.

Get a Provisional Patent

License Your Idea

Directly Sell Your Invention

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References

Writer Bio

Did you know that you can make money from ideas? Here, we will evaluate the various companies that buy ideas so that you can get paid schnell geld verdienen apps your inventions.

If you’re someone with a lot of great ideas, you are probably looking for companies that buy ideas. The good news is that there are companies that buy invention ideas and much more.

For some people, how to make money from ideas and inventions, coming up with a fantastic and innovative idea is easy. There is no reason not to get paid for your inventions if you are one of those people.

The trick is learning how to make money from your ideas. If you can pull it off, it's a great way to make money. You simply generate new scalable ideas that solve real-world problems.

While some companies will by your inventions, other companies will pay you for your ideas, such as a new app idea or an idea that would make mowing your lawn a lot easier.

I'm trying to make money in the most ways possible to shelter myself in income that will last into perpetuity. Inventions are the one thing that if how to make money from ideas and inventions hit it big, how to make money from ideas and inventions, you can earn royalties for as long as the product is alive.

I've been tracking my cash flow and net worth for free with Personal Capital. It's been a great way to keep my finances all in one place for completely free.

The following sections are divided into the following categories:

1. Companies that will buy your invention or invention idea, and
2. Companies that will by your app ideas.

Sell Your App on an App Market

If you have already developed your app idea and would like to sell it outright, you have a couple of options, how to make money from ideas and inventions. App markets are similar to eBay except you are selling your app code.

Apps sold on these platforms tend to sell for ten and even twenty times what they would sell if you found a broker to help you sell your how to make money from ideas and inventions apps on these markets will sell for $ &#; $5, but once in a while, you will see an app that goes for up to $50,+.

Our top pick for selling an app is Flippa by far.

FlippaOffer:

Free

Flippa is the ultimate marketplace to buy and sell digital property. Their marketplace features a robust listing database of mobile apps, domain name, starter sites and established websites. Try now for www.oldyorkcellars.com OR INVEST

See Related: 18+ Best Online Jobs

Markets to Help You Make Money From Your App Idea

Flippa – This is the top platform to buy and sell apps online. Flippa offers the lowest market fee for sellers and since there is no fee for buyers, you’ll have plenty of people looking at your app.

Here is a guide to website investing and selling.

Fliptopia – When you sign up with Fliptopia you can easily buy and sell apps. Apps on this site have asking prices that range from a few hundred dollars to thousands of dollars. If you are confident that your app is a great idea, try selling it on Fliptopia.

Selling on the marketplaces is an easy way to make money but in most cases, you need to have the app already developed.

You can do this with an app development company and use the marketplaces to start your own app flipping business.

Let's move onto our list of companies that buy invention ideas.

Companies that Buy Invention Ideas

Below is a list of companies that will pay you to invent stuff. The companies fit a variety of industries, including outdoor, petcare, supplies, medical, etc. Let's get into it.

Henkel

This is the parent corporation of the producers of Right Guard and Dial soap. They also operate the Henkel Partnership Program. This is a contest that they sponsor for budding inventors and innovators in technology.

Those with new ideas and inventions are encouraged to submit their ideas to the program. The Kenkel Partnership Program is most interested in new ideas in the area of laundry products, home care, cosmetics, as well as adhesives.

They also encourage ideas that are environmentally friendly.

Sharper Image

This is a company that focuses on staying ahead of the game when it comes to technology, toys, and innovative gadgets. They assign teams to do nothing but sift through the ideas that are sent to them by new inventors.

When you submit a new idea to Sharper Image, the company asks that you send them an email with a description of your product, as well as a picture or video.

If you have smart money invest 2022 started producing your product, they would also like you to include information on sales numbers and where your invention is being sold.

3M

If you are familiar with 3M, you are probably not surprised that this company would be open to ideas from new inventors. 3M is always coming out with new products.

This company produces everything from electronics to office supplies, and health care products. You can submit your invention idea to 3M here.

BD

This is a company that specializes in medical technology. They bring new medical research to the general public to improve the outcomes of patients all over the world.

For those interested in how to make money from ideas and inventions their ideas, the company offers an Acceptance of Terms form that you will have to agree to and sign.

You will need to mail the form to the address listed, along with the ideas for your product.

See Related: Best Survey Sites to Make Money

Dorman Products, Inc.

This company specializes in hardware, houseware, as well as automotive products. Dorman is mostly a distributor of products but they are always looking for new items to add to their lineup.

If you are already producing your product, you can send them a 3D sample for consideration by their review team.

Jokari Home Solutions

If you are looking to sell invention ideas that fall under the category of houseware, Jokari Home Solutions is always looking for innovative ideas to bring to the market. For those who have developed a new kitchen gadget or home organization product, you’ll want to consider submitting your idea here.

Jokari Home Solutions has a form on their website where you can fill out your information and submit it for consideration.

Coastal Pet Products

This company is dedicated to bringing the best pet collars and leads to the consumer. For pet lovers, this may be the perfect place to pitch your idea.

They are always looking for new product ideas that make life better for pets and their owners. If you have an idea for a new type of pet collar, this company will welcome the chance to look at your invention ideas.

See Related: What Does Independently Wealthy Mean?

Hearlihy & Company

Hearlihy & Company produces educational supplies for everything from drafting tools to Life Education and technology.

If your invention falls in this category, this would be a good company to submit your idea to.

Builders Inventions

If you are a tradesman and have an idea for a new tool, there are companies that buy ideas, such as Builders Inventions. This company specializes in producing tools that are invented by builders and tradesmen.

If you have an idea for a tool that would be useful for contractors and builders to use on their job sites, you can contact this company to ask about the process of submitting your idea.

See Related: Best Ways to Get Paid to Write Slogans

Coleman

If you have an idea for a gadget that would be useful for outdoor recreation, Coleman is one of the companies that you will want to look at. Coleman produces outdoor products such as camp stoves, tents, lanterns, and even camp trailers just to name a few of their products.

If you have an idea for an outdoor product that would fit with this company’s offerings, how to make money from ideas and inventions can contact them and offer your idea for review.

See Related: List of Companies how to make money from ideas and inventions Buy Patents

Wild Planet Entertainment

Wild Planet Entertainment produces toys that encourage children to be creative. Their products are meant to promote a child’s imagination and encourage them to explore the world they live in.

Wild Planet Entertainment is dedicated to manufacturing products that are safe, as well as durable and fun for kids of all ages.

If you have an idea that fits within this company’s spectrum of products, you are encouraged to contact them and ask about their idea submission app para investir em bitcoin Performance Sports

This company produced the best in sports training products. If you have an idea for a product that you believe would be a good fit for Pro Performance Sports, you are encouraged to print a copy of their submission form and return as directed on their website.

See Related: Ways to Make Money with Machine Learning

Companies That Buy App Ideas

The mobile app industry is huge. Consequently, how to make money from ideas and inventions, mobile app insiders are constantly vetting app ideas from everyone, including their neighbors, kids, and relatives.

The sad reality is that most app ideas never get off the ground.

The reasons why some app ideas don’t go anywhere are varied and can range from the app is too close to something else that is already on the market to it being incompatible with the technology that is currently available.

Perhaps it just isn’t that great of a concept.

On the other hand, there are app ideas how to make money from ideas and inventions really do have potential. If you think you have an app idea that will make millions, there are bitcoin investir 5 de that buy app ideas. Here's how you make money from your app ideas.

See Related: How to Make Money with Machine Learning

Make Money From Your App Ideas

There are a couple of ways you can make money from your app ideas. You can either produce and market the app yourself or shop for companies that will invest in your idea.

Take Your App Idea From Concept to Detailed Plan

It is always a good idea to refine your app idea before you try to make money from your app ideas. Some questions that you will need to ask yourself is,

• Does how to make money from ideas and inventions app have a niche in today's market?
• Can you prototype your idea?
• Will it attract buyers or investors?
• Will the finished app be better than other similar apps that are already available?

You don’t necessarily need a new concept to make money but you do need a new way to present that concept.

See Related: What to do With an Invention Idea

Make Money From Your App Idea through Monetization

Here are several ways to how to make money from ideas and inventions your app idea.

• Monetizing Your App Directly – You can make money this way by producing the app yourself and selling it on a variety of different platforms. The user will either purchase the app or pay a subscription. This is money in your pocket but you should be aware that some platforms will take a cut of the money you make.
• Free Demo – Offer your app on the various platforms as a free download with some functionality. The key to making money this way is to withhold some of the app's features for those who buy the full version.
• Make Money From Your App With Advertisers – One way to make money from your app idea is to offer a free download and advertise for other vendors on your app. It is always possible to pair this with the upgrade or full version purchase option so that you are doubling your income potential.

See Related: How to Make Money with Royalties

How to Make Money From Your Ideas Indirectly

The problem with developing your app idea yourself is that it will take money. If you do not have sufficient working capital, it will be very difficult to bring your app to market.

If you can target an investor, it will give you more money to work with and the ability to target a wider market for your app.

• Start-Up Accelerators – These are private companies that will sometimes invest in start-up business ideas.
• Angel Investors – Angel Investors are usually individuals are small groups who will help fund a start-up company or app idea.
• Crowdfunding &#; This involves attracting small donors in large enough numbers that you have the money to fund your idea or start up company. The best part of crowdfunding as that you can get a lot of capital before you have even taken your app idea to the development state.

See Related: How to Get Paid for Leaving Your Computer Running

List of Companies That Buy App Ideas

If you don’t want to deal with the trouble of investors or developing your app idea, you can always look for companies that buy app ideas.

Before you start looking for companies where you can sell your app idea, you will first want to patent your idea. Without a legal patent, anyone can take your idea and make it their own.

Once you have the technicalities of a patent behind you, it will be time to start looking for a company that wants your idea.

• Google – Not only can you sell your app in the Google Play Store but you might want to think of approaching Google as a buyer for your app. Google is constantly developing new apps and technologies so there is no reason not to bring your idea to them.
• Mobile App Fund – You can submit your app idea to Mobile App Fund and after a review of your idea, they may put up to one million dollars into your project. They take care of the development, marketing and share the profits with you.
• FundedApps – This company will pay you for your app idea plus give you a 25% cut once your app hits the market. First, you’ll have to submit your idea. A team of specialists will review your idea. If they believe that your idea has viable, they will contact you.
• GungHo Online – This Japanese company is one of the most successful app companies in the world. You may recognize them as the publisher of Puzzles and Dragons. If you have an app you believe with fit with this company's apps, contact them to ask about the process of submitting your idea.
• Supercell – This company is the makers of the Clash of the Clans app. Supercell is located in Finland and is still in the app business. If you’d like to submit an idea, visit their website to find out the process.
• King – This company is the creators of the still popular, Candy Crush. If you believe your app idea will be the next big thing, why not contact this company and ask about their app idea submission process?
• Apple – Like Google, Apple does more than just make phones. You can sell your app in the Apple Store or you can contact the company to ask about the process for submitting app ideas.

What are your favorite companies that buy ideas? 

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The ways you might make money from your invention fall under three basic paths. You can sell the patent or rights to your invention outright. You can license your invention. You can produce and market and sell your invention yourself.

Selling Outright

Selling your intellectual property patent means that you have permanently transferred ownership of your property to another person or company for an agreed-upon fee. All future commercial opportunities including royalties will no longer be yours.

License Your Invention

Licensing means that you will continue to own your own invention, however, you rent out the rights to make, use, or sell your invention. You can give an exclusive license to one party, or a non-exclusive license to more than one party. You can set a time limit on the license or not. In exchange for the rights to your intellectual property, you can charge a flat fee, or collect a royalty for each unit sold, or a combination of the two.

It should be noted that royalties are a much smaller percentage than most inventors would guess they should be, often under three percent for first-time inventors. That fact should not be surprising, the licensing party is taking a financial risk and it is quite an undertaking to manufacture, market, advertise, and distribute any product. More about licensing in our next lesson.

Do It Yourself

To manufacture, market, advertise, and distribute your own intellectual property is a large enterprise. Ask yourself, "do you have the spirit necessary to become an entrepreneur?" In a later lesson, we will discuss business and business plans and provide resources for conducting your own. For those of you who do wish to become your own entrepreneur and start and raise capital for a serious business, this may be your next stop: entrepreneur tutorials.

Independent inventors may decide to hire help for marketing or other aspects of promoting their invention. Before making any commitments to promoters and promotion firms, you should check on their reputation before making any bitcoin investopedia analysis. Remember, not all firms are legitimate, how to make money from ideas and inventions. It is best to be wary of any firm that promises too much and/or costs too much.

Invention City is seeking great new invention ideas to develop and license to manufacturers in the United States and internationally in virtually all fields including consumer, DIY, trade, tech, industrial, medical, sporting goods, outdoor, snack food, apps, and other categories. We are experienced inventors and entrepreneurs who look at opportunities creatively and seek to find the best pathway to profit for each invention submitted to us. Get started with a Brutally Honest Review ("The best deal in the world of inventing") or submit your invention for FREE here (homework required).

We are the real deal. Learn more about us and our experience here.

Below are examples of some of the inventions we commercialized over the years.

Learn About Invention City
Rated A+ by BBB

Get started with a Brutally Honest Review. Questions? Email info@www.oldyorkcellars.com

Introduction to Invention & Patent Licensing

Licensing is the easiest path to commercialization and profit: you get paid while someone else takes your invention, turns it into water technology stocks investing product and manages the day to day grind of making and selling it.

When you give a company the right to make and sell your invention in return for payment, you are granting a license - you are the licensor the company is the licensee. The payment can be an ongoing percentage of sales, a royalty, or it can be a one-time payment, a buyout.

The downsides to licensing are lack of control and a smaller share of profits. The upsides are less work, less investment and less risk. If you want to maximize the potential return from your invention AND you are willing to work extraordinarily hard AND you have the ability to build and manage a business… then licensing might not be the right solution for you. For everyone else it’s a path worth serious consideration.

Many inventors harbor the fantasy that someone will pay for an undeveloped idea. While fantasies sometimes come true (someone does win the lottery), you should keep your feet planted firmly in reality, how to make money from ideas and inventions. Fortune corporations will only license patented (or patent pending) inventions. Smaller companies are more flexible but also have a strong preference for ideas that are developed and possess some form of intellectual property protection.

The steps to licensing an invention are as follows:

1. Identify & research target companies.
2. Approach prime targets.
3. Confidentiality agreement.
4. Prepare for negotiation.
5. Initial presentation.
6. Negotiate and Close Deal.
7. Marriage.
8. Divorce and Remarriage (be prepared).

Read about the process in detail in Inventing

Invention City provides great content for you to learn the licensing process and do it on your own (with professional help where needed). It is not rocket science, just hard work and being smart. Prior to doing it on your own, however, we suggest you get a Brutally Honest Review to understand how potential licensees, investors, and others will look at your invention and its profit potential. You may also get an offer from us - which, if you decline, will give you more confidence to move forward on your own. When you sign up for a Brutally Honest Review (just $95) we do a preliminary search of prior art, consider risk and profit potential abd, then share our findings with you. If we say yes, we offer a deal where you do not risk another penny and make money when we do. There is no obligation.

Invention City has had unparalleled success and experience in the business of invention development and commercialization. Over the past 25 years products developed, licensed and manufactured by Invention City and its partners have generated over $ million in retail sales. We know the inventing business in depth from all angles - as both licensors and licensees - how to make money from ideas and inventions our inventions sold across every continent on the how to make money from ideas and inventions except Antarctica. Read more about us here.

Even if you are not looking for a deal and want to go forward on your own, how to make money from ideas and inventions, you can submit to get honest feedback from professionals who have been there.

Invention City gives you valuable insight that may help you improve your invention, may cause you to rethink it entirely or just might lead to the offer of a deal. The best way to make money from an invention is to take a hard look at all of the reasons the invention might fail and try to address those reasons before you file a patent, develop a prototype, or pursue a licensing deal. If you've already started on that path you can improve your chances and save money with unbiased input from the outside.

That fact is that most inventions fail. Even the best ones have odds below 50/ We succeeded through the years because we learned how to fail as inexpensively as possible until a success came along, and then we exploit that success to the stars. It is a great way to prosper in the invention business, quite possibly the only way.

Whether your invention is just an idea or a new product in early production, getting a quick opinion from Invention City is likely to save you thousands of dollars. It is also possible, despite long odds, that invention City could offer you a deal that will make you tens of thousands or just maybe, even hundreds of thousands or more, as we have done with a few of Invention City's own ideas.

Other invention service companies hold out false hopes to encourage you to spend money with them. In fine print they tell you that the odds of success are small (true) and then in phone conversations they flatter you into believing that your invention might just beat the odds. Flattery is easy. All of us like to hear that our ideas are brilliant and that we have a good chance of getting rich. Well, for $20, or more you can enjoy the flattery and maybe get a virtual prototype of your idea. But seeing your how to make money from ideas and inventions on a retail store shelf and actually making money on it - that is not likely at all. $20, is not enough to do the job right. But it is enough for an invention service company to make a nice profit by encouraging you to pursue your idea.

Many patent attorneys are no different. They tell you that the first thing you need to do is protect your idea even before you even have a final product design, or know the details of your invention, or before you go out and get market feedback. If you have a lot of ideas, you quickly figure out that patenting every idea right away is good way to become bankrupt. Even worse, how to make money from ideas and inventions, if you file a patent too early in the development process, you are probably not covering the most important details - you will need to file a second patent to cover those!

Prior to having a patent filed it is very important to keep your idea confidential. But, if saving money matters to you, you should get feedback from a trustworthy, ethical and experienced source to help you decide if an idea is worth patenting at all.

The risks of going forward with an invention are high. The cost for Invention City and its partners to take a relatively simple idea and turn it into a product on the shelf at Wal-Mart often runs upwards of $, Most people cannot afford that risk, how to make money from ideas and inventions. We can because we are very careful about offering licensing deals. You should be careful too and get professional feedback as early as possible.

Invention City's feedback is not the last word on success or failure. But it can save you a lot of money by helping you make better decisions on what to do next and how to move forward.

Invention City will quickly give you a yes or no, feedback that could save you thousands, and in some cases a deal offer that could make you much, much more.

Get started with a Brutally Honest Review.

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Updated September 6, how to make money from ideas and inventions,

Have you thought, “I wonder how to sell my invention idea to a company to produce it?” You are not alone, as thousands of inventors come up with great ideas every day, only to find themselves unable to manufacture it themselves. However, you can opt to sell your idea in several bitcoin investopedia predictions ways and still make a great profit without having to do the legwork of producing it yourself.

I Have an Idea for an Invention: What to Do

You can do some online research to look at other companies in your invention’s industry. Once you have made a list of the companies you would like to sell your idea to, take the time to research every company completely. Some businesses will have a section on their websites to help you submit your idea. While many companies want new invention ideas, some will be resistant to inventors, as they don’t have the resources or time to put into new products.

If you happen to find a manufacturer that is how to make money from ideas and inventions in your invention, there are usually two options. You can sell your invention idea, or you can outright sell the invention itself for one large lump sum as compensation for your idea.

The second option is to enter a licensing agreement. You would collect royalties each time your product is sold. If you choose this option, you need to carefully inspect the offer to ensure that are no clauses that keep the company from holding onto the invention for the length of the contract, which allows you to leave the contract if they make little to no effort to manufacture and sell the product.

It is a game changer to hire a patent attorney for a step by step guide on how to patent an idea, licensing, how to make money from ideas and inventions, and oversee the whole patent application in order to protect your company and invention from future patent prosecution.

Steps to Selling Your Idea

There are several steps involved if you want to sell your idea. Before you approach a company, there are some things you need to be fully aware of:

1. Research your market. You will need earnest money deposit washington state obtain as much feedback as you can on your idea. You can do this through focus groups or use other methods. You also need to research and obtain information about other products that are similar to yours.
2. Make sure the legalities are on the up and up. Make every effort to if your invention can be patented or manufactured without infringing on the right of other patents already on file, how to make money from ideas and inventions. You can do a preliminary patent search to get you started.
3. Research your production options. Take the time to learn about the process of production, especially if you have some specialized materials or techniques that have to be incorporated into your invention.
4. Once you have completed these steps, you will then need to show it to those who may want to license your invention. You should also have a 3-D prototype of your invention to show them, as well as a sell sheet including all of this information. A sell-sheet needs to be a one to two-page document that tells the potential licensee:
   1. The challenge or problem that the invention meets
   2. The features and benefits of the product
   3. The market you want to reach
   4. The legal status you currently have, such as patent-pending, trademark, and the like.
5. You need to also write an introductory letter to go along with your sell sheet. This will introduce who you are, tell the licensee why you are making contact, and set up a time to meet for a follow-up.
6. You will need money maker cp cheats find out the best and most appropriate contacts for your new opportunity. You can also identify potential manufacturers by researching the trade association that is closest to the industry in which your product will fall into. Take a look at the member lists on the website.
7. Do some research for companies in particular industries. After you have a list of about 50 companies, make a decision on which you will prioritize based on how well they would fit with your invention or your product.

How to Patent Your Ideas?

Inventors often sell their product ideas to bigger companies, however some decide to go through the patent process in order to get a more sustainable income revenue in the long term. For someone who has no idea about how the patent process works, it is better to seek legal advice than potentially expose yourself to lawsuits that might cost thousands of dollars. 
We suggest consulting with a licensed attorney as their services inherently implies privacy under the attorney client relationship. On the other hand, if you were to discuss your invention ideas with partners, other people, or someone who is not working as an attorney on your behalf, they would be able to steal your inventions unless an NDA was signed and you would have no legal standing in court.

Legal Support to Sell Your Inventions

If you why you should invest in ethereum help with selling your invention idea, you can post your legal need on UpCounsel’s marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law, and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.

Updated September 6,

Have you thought, “I wonder how to sell my invention idea to a company to produce it?” You are not alone, as thousands of inventors come up with great ideas every day, only to find themselves unable to manufacture it themselves. However, you can opt to sell your idea in several different ways and still make a great profit without having to do the legwork of producing it yourself.

I Have an Idea for an Invention: What to Do

You can do some online research to look at other companies in your invention’s industry. Once you have made a list of the companies you would like to sell your idea to, take the time to research every company completely. Some businesses will have a section on their websites to help you submit your idea. While many companies want new invention ideas, some will be resistant to inventors, as they don’t have the resources or time to put into new products.

If you happen to find a manufacturer that is interested in your invention, there are usually two options. You can sell your invention idea, or you can outright sell the invention itself for one large lump sum as compensation for your idea.

The second option is to enter a licensing agreement. You would collect royalties each time your product is sold. If you choose this option, you need to carefully inspect the offer to ensure that are no clauses that keep the company from holding onto the invention for the length of the contract, which allows you to leave the contract if they make little to no effort to manufacture and sell the product.

It is a game changer to hire a patent attorney for a step by step guide on how to patent an idea, licensing, and oversee the whole patent application in order to protect your company and invention from future patent prosecution.

Steps to Selling Your Idea

There are several steps involved if you want to sell your idea. Before you approach a company, there are some things you need to be fully aware of:

1. Research your market. You will need to obtain as much feedback as you can on your idea. You can do this through focus groups or use other methods. You also need to research and obtain information about other products that are similar to yours.
2. Make sure the legalities are on the up and up. Make every effort to if your invention can be patented or manufactured without infringing on the right of other patents already on file. You can do a preliminary patent search to get you started.
3. Research your production options. Take the time to learn about the process of production, especially if you have some specialized materials or techniques that have to be incorporated into your invention.
4. Once you have completed these steps, you will then need to show it to those who may want to license your invention. You should also have a 3-D prototype of your invention to show them, as well as a sell sheet including all of this information. A sell-sheet needs to be a one to two-page document that tells the potential licensee:
   1. The challenge or problem that the invention meets
   2. The features and benefits of the product
   3. The market you want to reach
   4. The legal status you currently have, such as patent-pending, trademark, and the like.
5. You need to also write an introductory letter to go along with your sell sheet. This will introduce who you are, tell the licensee why you are making contact, and set up a time to meet for a follow-up.
6. You will need to find out the best and most appropriate contacts for your new opportunity. You can also identify potential manufacturers by researching the trade association that is closest to the industry in which your product will fall into. Take a look at the member lists on the website.
7. Do some research for companies in particular industries. After you have a list of about 50 companies, make a decision on which you will prioritize based on how well they would fit with your invention or your product.

How to Patent Your Ideas?

Inventors often sell their product ideas to bigger companies, however some decide to go through the patent process in order to get a more sustainable income revenue in the long term. For someone who has no idea about how the patent process works, it is better to seek legal advice than potentially expose yourself to lawsuits that might cost thousands of dollars. 
We suggest consulting with a licensed attorney as their services inherently implies privacy under the attorney client relationship. On the other hand, if you were to discuss your invention ideas with partners, other people, or someone who is not working as an attorney on your behalf, they would be able to steal your inventions unless an NDA was signed and you would have no legal standing in court.

Legal Support to Sell Your Inventions

If you need help with selling your invention idea, you can post your legal need on UpCounsel’s marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law, and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.

The ways you might make money from your invention fall under three basic paths. You can sell the patent or rights to your invention outright. You can license your invention. You can produce and market and sell your invention yourself.

Selling Outright

Selling your intellectual property patent means that you have permanently transferred ownership of your property to another person or company for an agreed-upon fee. All future commercial opportunities including royalties will no longer be yours.

License Your Invention

Licensing means that you will continue to own your own invention, however, you rent out the rights to make, use, or sell your invention. You can give an exclusive license to one party, or a non-exclusive license to more than one party. You can set a time limit on the license or not. In exchange for the rights to your intellectual property, you can charge a flat fee, or collect a royalty for each unit sold, or a combination of the two.

It should be noted that royalties are a much smaller percentage than most inventors would guess they should be, often under three percent for first-time inventors. That fact should not be surprising, the licensing party is taking a financial risk and it is quite an undertaking to manufacture, market, advertise, and distribute any product. More about licensing in our next lesson.

Do It Yourself

To manufacture, market, advertise, and distribute your own intellectual property is a large enterprise. Ask yourself, "do you have the spirit necessary to become an entrepreneur?" In a later lesson, we will discuss business and business plans and provide resources for conducting your own. For those of you who do wish to become your own entrepreneur and start and raise capital for a serious business, this may be your next stop: entrepreneur tutorials.

Independent inventors may decide to hire help for marketing or other aspects of promoting their invention. Before making any commitments to promoters and promotion firms, you should check on their reputation before making any commitments. Remember, not all firms are legitimate. It is best to be wary of any firm that promises too much and/or costs too much.

Did you know that you can make money from ideas? Here, we will evaluate the various companies that buy ideas so that you can get paid for your inventions.

If you’re someone with a lot of great ideas, you are probably looking for companies that buy ideas. The good news is that there are companies that buy invention ideas and much more.

For some people, coming up with a fantastic and innovative idea is easy. There is no reason not to get paid for your inventions if you are one of those people.

The trick is learning how to make money from your ideas. If you can pull it off, it's a great way to make money. You simply generate new scalable ideas that solve real-world problems.

While some companies will by your inventions, other companies will pay you for your ideas, such as a new app idea or an idea that would make mowing your lawn a lot easier.

I'm trying to make money in the most ways possible to shelter myself in income that will last into perpetuity. Inventions are the one thing that if you hit it big, you can earn royalties for as long as the product is alive.

I've been tracking my cash flow and net worth for free with Personal Capital. It's been a great way to keep my finances all in one place for completely free.

The following sections are divided into the following categories:

1. Companies that will buy your invention or invention idea, and
2. Companies that will by your app ideas.

Sell Your App on an App Market

If you have already developed your app idea and would like to sell it outright, you have a couple of options. App markets are similar to eBay except you are selling your app code.

Apps sold on these platforms tend to sell for ten and even twenty times what they would sell if you found a broker to help you sell your app.

Most apps on these markets will sell for $ &#; $5, but once in a while, you will see an app that goes for up to $50,+.

Our top pick for selling an app is Flippa by far.

FlippaOffer:

Free

Flippa is the ultimate marketplace to buy and sell digital property. Their marketplace features a robust listing database of mobile apps, domain name, starter sites and established websites. Try now for www.oldyorkcellars.com OR INVEST

See Related: 18+ Best Online Jobs

Markets to Help You Make Money From Your App Idea

Flippa – This is the top platform to buy and sell apps online. Flippa offers the lowest market fee for sellers and since there is no fee for buyers, you’ll have plenty of people looking at your app.

Here is a guide to website investing and selling.

Fliptopia – When you sign up with Fliptopia you can easily buy and sell apps. Apps on this site have asking prices that range from a few hundred dollars to thousands of dollars. If you are confident that your app is a great idea, try selling it on Fliptopia.

Selling on the marketplaces is an easy way to make money but in most cases, you need to have the app already developed.

You can do this with an app development company and use the marketplaces to start your own app flipping business.

Let's move onto our list of companies that buy invention ideas.

Companies that Buy Invention Ideas

Below is a list of companies that will pay you to invent stuff. The companies fit a variety of industries, including outdoor, petcare, supplies, medical, etc. Let's get into it.

Henkel

This is the parent corporation of the producers of Right Guard and Dial soap. They also operate the Henkel Partnership Program. This is a contest that they sponsor for budding inventors and innovators in technology.

Those with new ideas and inventions are encouraged to submit their ideas to the program. The Kenkel Partnership Program is most interested in new ideas in the area of laundry products, home care, cosmetics, as well as adhesives.

They also encourage ideas that are environmentally friendly.

Sharper Image

This is a company that focuses on staying ahead of the game when it comes to technology, toys, and innovative gadgets. They assign teams to do nothing but sift through the ideas that are sent to them by new inventors.

When you submit a new idea to Sharper Image, the company asks that you send them an email with a description of your product, as well as a picture or video.

If you have already started producing your product, they would also like you to include information on sales numbers and where your invention is being sold.

3M

If you are familiar with 3M, you are probably not surprised that this company would be open to ideas from new inventors. 3M is always coming out with new products.

This company produces everything from electronics to office supplies, and health care products. You can submit your invention idea to 3M here.

BD

This is a company that specializes in medical technology. They bring new medical research to the general public to improve the outcomes of patients all over the world.

For those interested in submitting their ideas, the company offers an Acceptance of Terms form that you will have to agree to and sign.

You will need to mail the form to the address listed, along with the ideas for your product.

See Related: Best Survey Sites to Make Money

Dorman Products, Inc.

This company specializes in hardware, houseware, as well as automotive products. Dorman is mostly a distributor of products but they are always looking for new items to add to their lineup.

If you are already producing your product, you can send them a 3D sample for consideration by their review team.

Jokari Home Solutions

If you are looking to sell invention ideas that fall under the category of houseware, Jokari Home Solutions is always looking for innovative ideas to bring to the market. For those who have developed a new kitchen gadget or home organization product, you’ll want to consider submitting your idea here.

Jokari Home Solutions has a form on their website where you can fill out your information and submit it for consideration.

Coastal Pet Products

This company is dedicated to bringing the best pet collars and leads to the consumer. For pet lovers, this may be the perfect place to pitch your idea.

They are always looking for new product ideas that make life better for pets and their owners. If you have an idea for a new type of pet collar, this company will welcome the chance to look at your invention ideas.

See Related: What Does Independently Wealthy Mean?

Hearlihy & Company

Hearlihy & Company produces educational supplies for everything from drafting tools to Life Education and technology.

If your invention falls in this category, this would be a good company to submit your idea to.

Builders Inventions

If you are a tradesman and have an idea for a new tool, there are companies that buy ideas, such as Builders Inventions. This company specializes in producing tools that are invented by builders and tradesmen.

If you have an idea for a tool that would be useful for contractors and builders to use on their job sites, you can contact this company to ask about the process of submitting your idea.

See Related: Best Ways to Get Paid to Write Slogans

Coleman

If you have an idea for a gadget that would be useful for outdoor recreation, Coleman is one of the companies that you will want to look at. Coleman produces outdoor products such as camp stoves, tents, lanterns, and even camp trailers just to name a few of their products.

If you have an idea for an outdoor product that would fit with this company’s offerings, you can contact them and offer your idea for review.

See Related: List of Companies that Buy Patents

Wild Planet Entertainment

Wild Planet Entertainment produces toys that encourage children to be creative. Their products are meant to promote a child’s imagination and encourage them to explore the world they live in.

Wild Planet Entertainment is dedicated to manufacturing products that are safe, as well as durable and fun for kids of all ages.

If you have an idea that fits within this company’s spectrum of products, you are encouraged to contact them and ask about their idea submission process.

Pro Performance Sports

This company produced the best in sports training products. If you have an idea for a product that you believe would be a good fit for Pro Performance Sports, you are encouraged to print a copy of their submission form and return as directed on their website.

See Related: Ways to Make Money with Machine Learning

Companies That Buy App Ideas

The mobile app industry is huge. Consequently, mobile app insiders are constantly vetting app ideas from everyone, including their neighbors, kids, and relatives.

The sad reality is that most app ideas never get off the ground.

The reasons why some app ideas don’t go anywhere are varied and can range from the app is too close to something else that is already on the market to it being incompatible with the technology that is currently available.

Perhaps it just isn’t that great of a concept.

On the other hand, there are app ideas that really do have potential. If you think you have an app idea that will make millions, there are companies that buy app ideas. Here's how you make money from your app ideas.

See Related: How to Make Money with Machine Learning

Make Money From Your App Ideas

There are a couple of ways you can make money from your app ideas. You can either produce and market the app yourself or shop for companies that will invest in your idea.

Take Your App Idea From Concept to Detailed Plan

It is always a good idea to refine your app idea before you try to make money from your app ideas. Some questions that you will need to ask yourself is,

• Does your app have a niche in today's market?
• Can you prototype your idea?
• Will it attract buyers or investors?
• Will the finished app be better than other similar apps that are already available?

You don’t necessarily need a new concept to make money but you do need a new way to present that concept.

See Related: What to do With an Invention Idea

Make Money From Your App Idea through Monetization

Here are several ways to monetize your app idea.

• Monetizing Your App Directly – You can make money this way by producing the app yourself and selling it on a variety of different platforms. The user will either purchase the app or pay a subscription. This is money in your pocket but you should be aware that some platforms will take a cut of the money you make.
• Free Demo – Offer your app on the various platforms as a free download with some functionality. The key to making money this way is to withhold some of the app's features for those who buy the full version.
• Make Money From Your App With Advertisers – One way to make money from your app idea is to offer a free download and advertise for other vendors on your app. It is always possible to pair this with the upgrade or full version purchase option so that you are doubling your income potential.

See Related: How to Make Money with Royalties

How to Make Money From Your Ideas Indirectly

The problem with developing your app idea yourself is that it will take money. If you do not have sufficient working capital, it will be very difficult to bring your app to market.

If you can target an investor, it will give you more money to work with and the ability to target a wider market for your app.

• Start-Up Accelerators – These are private companies that will sometimes invest in start-up business ideas.
• Angel Investors – Angel Investors are usually individuals are small groups who will help fund a start-up company or app idea.
• Crowdfunding &#; This involves attracting small donors in large enough numbers that you have the money to fund your idea or start up company. The best part of crowdfunding as that you can get a lot of capital before you have even taken your app idea to the development state.

See Related: How to Get Paid for Leaving Your Computer Running

List of Companies That Buy App Ideas

If you don’t want to deal with the trouble of investors or developing your app idea, you can always look for companies that buy app ideas.

Before you start looking for companies where you can sell your app idea, you will first want to patent your idea. Without a legal patent, anyone can take your idea and make it their own.

Once you have the technicalities of a patent behind you, it will be time to start looking for a company that wants your idea.

• Google – Not only can you sell your app in the Google Play Store but you might want to think of approaching Google as a buyer for your app. Google is constantly developing new apps and technologies so there is no reason not to bring your idea to them.
• Mobile App Fund – You can submit your app idea to Mobile App Fund and after a review of your idea, they may put up to one million dollars into your project. They take care of the development, marketing and share the profits with you.
• FundedApps – This company will pay you for your app idea plus give you a 25% cut once your app hits the market. First, you’ll have to submit your idea. A team of specialists will review your idea. If they believe that your idea has viable, they will contact you.
• GungHo Online – This Japanese company is one of the most successful app companies in the world. You may recognize them as the publisher of Puzzles and Dragons. If you have an app you believe with fit with this company's apps, contact them to ask about the process of submitting your idea.
• Supercell – This company is the makers of the Clash of the Clans app. Supercell is located in Finland and is still in the app business. If you’d like to submit an idea, visit their website to find out the process.
• King – This company is the creators of the still popular, Candy Crush. If you believe your app idea will be the next big thing, why not contact this company and ask about their app idea submission process?
• Apple – Like Google, Apple does more than just make phones. You can sell your app in the Apple Store or you can contact the company to ask about the process for submitting app ideas.

What are your favorite companies that buy ideas? 

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You had a great idea for an invention, and after spending months brainstorming, filing, (waiting) and discussing the details with your patent attorney, your patent is granted.

Filing for a patent isn’t cheap, so it makes sense that if you went to the trouble of protecting your idea, the next step is to figure out how to profit from it.

According to Forbes, in , 95 percent of the million active patents weren’t licensed or commercialized: they didn’t generate any money.

The value of your invention is completely in your hands. Here are six ways to make money from your patents.

1. Start a business: Product conversion

One of the best ways to make money from your patent is to create and sell the product you invented. If you’re thinking about manufacturing and retail opportunities, start by yourself the following questions:

• Does your invention solve a real-world problem?
• Does it do its job better than existing products in the market?
• Have you done an assessment to find if your consumers are going to like it?
• Do you have funds for manufacturing and promoting the product?
• Can you sell it at a competitive price?

Keep in mind that developing and selling a product—starting a business—requires different skills than creating a product idea and going through the patenting process.   

There are plenty of independent inventors that have chosen to travel the path of entrepreneurship. Dan Brown, the inventor of Bionic Wrench and founder of Logger Head Tools, is a prime example.

You can read the bright side of Dan’s story here. Dan did face some challenges, though, so make sure you think it through so you’ve accounted for potential risks before you get in too deep.  

Start by writing a business plan—they’re required by bank lenders and investors. But even if you don’t need outside funding to get started, business planning will help you make sure you’ve considered every aspect of your business.

2. License your patent

If starting your own business isn’t the best approach for you, you can still earn a handsome amount by licensing your patent.

Patent licensing is a practice that lets you transfer your patent rights to a party that can use it for making or selling a product or service.

There are two types of patent licensing:

• Exclusive Licensing: The patent owner transfers all the ownership rights to the licensee.
• Non- Exclusive Licensing: The patent owner/licensor can also produce the invention along with the licensee.

The benefits of licensing your patent rights

• Your brainchild, your invention, sees the light of a day in form of a product.
• Lack of resources or funding won’t stop your invention from going to market.
• The trust and brand value of the licensee could help you build a legacy.  
• Your licensee may sell your product worldwide faster than you would have been able.

Patent licensing as a number of complexities and intricacies. I recommend reading this article—it’s a guide to patent licensing. It will help you start developing solid understanding of what it entails, including scenarios where licensing may become less profitable than your initial expectations.

3. Use a patent licensing company

If you’re not interested in doing all the licensing legwork yourself, there are patent licensing companies, (some of them are publicly traded) like Acacia Research Corporation, that help individual inventors monetize their patent assets. Often these companies serve as a middleman, connecting an inventor with a company that could help them with expertise or capital.

Acacia Research Corporation, based in Newport Beach, has been one of the biggest supporters of individual inventors and small companies. They work with patent-holders to help them unlock the financial potential of their patent. It partners with many companies/inventors and splits the licensing revenue

Intellectual Ventures is another such company. It is one of the top five owners of US patents.  It acquires patents from almost every domain. It has more than 40, patents in its portfolio.

“The set of incentives that go around patents, that&#;s part of how the system works. Inventors should get rich. We should have more inventors. It&#;s good for everybody.&#;

― Nathan Myhrvold, former CTO of Microsoft and co-founder of Intellectual Ventures

It’s worth mentioning that companies like Acacia Research and Intellectual Venture are considered Non-Practising Entities (NPEs). NPEs are entities that own patent(s) but don’t use them to develop a product/process. Some of the NPEs have earned the moniker of “patent troll” because they use their patent(s) for filing frivolous lawsuits against renowned companies and startups.

4. Use it as collateral for a bank loan

Did you know that sometimes you can use your patent as collateral when seeking a bank loan? You might be surprised that this is a fairly common practice and something even major players like General Motors, Alcatel Lucent, and Kodak have done. Between and , leading banks like JP Morgan, Morgan Stanley, Bank of America made , transactions for patent loans.

It has another benefit. If you mortgage your patent, there’s a fairly high chance that it could be acquired by a big company that wants to avoid litigation or to maintain its competitive edge. Often when patent owners mortgage patents, they’re more interested in leveraging the value of their resource, than licensing it or spinning up a business with it.

So, if a bank agrees that you can use a patent as collateral, they essentially agree that it has significant value, based on their due diligence. This can actually be a positive signal for companies looking to acquire patents.

5. Sell off your patent rights

What if you aren’t interested in licensing your patent? Maybe the market for your intellectual property is diminishing or the technology is becoming less relevant. It might be time to sell the patent.

Before you sell, ask yourself the following questions:

• Is there any way to further develop your invention that might your intellectual property worth more down the road?  
• Is patent pooling possible?
• Are you running out of ways to make licensing profitable?

The next big question is—where will you sell it? Check out this list of 22 patent marketplacesto get started.  

6. Sell to a business that’s expanding to your country

Some patent owners make a point to research and keep tabs on overseas companies that are expanding their operations internationally.

Patents are location-based, meaning that you’ll need a patent in each country where you want to protect your idea. So when a company expands its operations to new countries, it will often try to acquire patents in the new country to help mitigate their risk of being sued for patent infringement.

Often, the expanding companies are openly looking for individual patent owners who are willing to sell. Xiaomi is one example of a company that acquired a lot of patent assets through its global expansion process.

Conclusion

Getting a patent isn’t a walk in the park. It is a complex, expensive, and slow process. Make sure your patent results in financial reward, whether you use it to launch a product, license it to someone else, or sell it. Don’t let your patent sit around!

Kanika Sharma is a patent research analyst at GreyB Services. GreyB is a technology research and consultancy firm that helps Fortune companies and top law firms across the world with its technological insights.