My patent is being submitted for a product that I developed. It is an improved version of something we all use. I want to price it such that I make some money (not trying to gouge anyone) but yet it is very reasonable for my customers. It's an item that most customers will only buy one and never need to buy another.
Any advice on how I should attempt to sell this? Should I contract with an order accepting office and I fill the orders. Should I contact the supply houses (although this would add cost to the final price). Start a web page?
I have a marketing plan to get it out there, I also have a manufacturing plan in place. I'm just asking for suggestions (preferably form someone that has 'been there, done that') on how to take orders for it.
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Most of the time, you can sell the patent and still make "royalties" from each product sold? I have one patent on a hunting item, and a friend of mine has several for racing products. I have been approached by many companies wanting to buy the patent and give me a percentage for each one sold. The main thing, is make sure you have a good attorney no matter what way you decide to go. I found this out the hard way! Just An Idea, Eric
Did you know that when you submitt a patent in the US, it is available to the rest of the world per agreement? Your hard work if it has merit, will be available soon on the open market made in Japan, China, Korea etc.
But during the 'patent pending' stage it is not availible to the world. Only after the patent is finalized is it available to all to see. In the mean time I can sell it in 'patent pending' status. I'm not that worried about it as this isn't a time machine that I created here. It is an item that will help us all save time and improve our quality. I don't look at it as much more than that.
I could probably answer those questions if I knew what it was. (Just kidding).
make damn sure your attorney has written it as air tight as possible, so that you and only you can make it in any size, weight, shape, material,etc..
dont let him add a paragraph at the end of the descriptions that states:
it should also be apparent to this with in the industry that this item can be made from various materials and in different sizes, and weights, etc...
have him describe every little detail in length, cover it even if it isnt being made that way YET.
i also learned the hard way, you can look up patent # 6,322,464 (my patent) then look up patent #6,544,727(game trackers patent)
mine was issued first, and if my attorney had written it the way gametrackers attorney did, i would have been retired by now.
Patent law is tricky, especially the "doctrine of equivalents" that was toosed out by the ninth circuit court. it was the part that stated:
if it looks the same, works the same and achieves the same results, then it infringes on your patent. (or something to that effect)
you might also want to apply for a design patent(s)
there are to many loop holes for me to cover here, as i said i found out the hard way, not only would i be collecting royalties from game tracker but other companies as well...live & learn.
Cover your butt, then cover it again.