I have a professional idea for a device that I believe will generate millions or even billions when sold to buyers.



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Great!

 

Good for you. Does it have any benefit for the buyer, or is it just a way for you to make money?

 

Hi LS,
Do you have a question?

Moderation.

 

Good for you. Does it have any benefit for the buyer, or is it just a way for you to make money?

That's why it will generate millions or even billions. Everyone will want it or even want to make replicars of it. That's why I need someone to partner with me on it.

 

Hi LS,
Do you have a question?

Moderation.

Not a question, but I want a partnership or someone we can work on it together.

 

I have a professional idea for a device that I believe will generate millions or even billions when sold to buyers.

Better get it patented right away!!

 

Why? Why would you give up equity and a claim on future earnings to a “partner” instead of simply buying the work you need done.

Most of us here know the answer to that question and, if I can be so bold as to speak for them, are not interested.

To entice an investor you need a strategic plan. That includes many topics including a study of the market, the need, the competition and so. No ”partner” can consider participation before seeing such a plan.

 

What skills do you bring to the partnership, and what skills do you need from a partner?

 

A friend of mine also had once a great idea.
He went to obtain funding from a venture capital company.
They listened to him and then provided a 50 page questionnaire to describe his business plan. When filled up and with all the supporting documentation, it was a 200+ page presentation.
Then he went to an interview with the tentative investors. They grilled him for several hours, with extreme detail and deep probing questions.
At the end of it, even he was convinced that his great idea wasn’t really a viable business proposition. But saved him lots of wasted effort and money.
Thus as others have pointed out, the very first thing is to go to a business consultant or investment bank with an extremely detailed business plan. He’ll steer you further.

Have you watched Shark Tank? It will be even more grueling than it.
https://abc.com/show/535e2b07-18a9-4d94-9803-9ed8257b9d23

 

Why? Why would you give up equity and a claim on future earnings to a “partner” instead of simply buying the work you need done.

Most of us here know the answer to that question and, if I can be so bold as to speak for them, are not interested.

To entice an investor you need a strategic plan. That includes many topics including a study of the market, the need, the competition and so. No ”partner” can consider participation before seeing such a plan.

Then I guess I will figure it out myself, if I don't get any partnership.

I have a professional idea for a device that I believe will generate millions or even billions when sold to buyers.



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I already have a prototype of it, and if you're bold enough, you can just ask to know what it's about instead of being so scared of the unknown. I believe it has great potential, and I'm ready to share more details if anyone is interested.

 

Yup, great ideas are a dime a dozen. True business acumen is saying no to most of them except the rare jewel that might make its way to the market.

 

Then I guess I will figure it out myself, if I don't get any partnership.

I already have a prototype of it, and if you're bold enough, you can just ask to know what it's about instead of being so scared of the unknown. I believe it has great potential, and I'm ready to share more details if anyone is interested.

Without disclosing anything you consider proprietary, can you describe the market need it addresses? Anything you can disclose about your solution would be helpful but please don’t put your IP at risk.

We’re really not trying to discourage you. It’s just reality that an invention looking for a market is a strategy that rarely works out

 

The great Don Lancaster said it best:

"Ideas are worth less than a dime a bale in 10-bale lots"​

Nobody will buy or invest in an idea. You'd have a higher expectation of economic reward selling crack cocaine on the steps of a metropolitan police station. My advice to you is to publish your idea(s) as a stepping stone to becoming a recognized expert in that field and then continue publishing ideas as they come to you to build that reputation. Publish enough and people will come to you. Then you can pick and choose who you work with.

 

Do a market survey. Advertise it and see what response it gets.

Another way is to go crowd funding. In other words, you take payment up front with the promise to deliver some time in the future.
I have purchased many items this way and have never been disappointed. For example, I bought two folding electric bikes and they get a lot of mileage on them.

 

Electronic or mechanical? Good luck, I suspect you're going to need it. Patenting anything is hard and does not mean foreign countries won't steal it even the USA.

 

What do YOU bring to the table besides a brilliant idea?

Do you expect a "partner" to do all the work to make your brilliant idea a reality while you impatiently demand he do more?

Having a brilliant device is only the first tiny step towards selling it big time.

 

Electronic or mechanical? Good luck, I suspect you're going to need it. Patenting anything is hard and does not mean foreign countries won't steal it even the USA.

I would say that patenting anything is easy. Just fill in the patent office forms and pay the fees, and they will do a brief search through prior art, and if they can't find anything obvious, you have your patent.
BUT if anyone infringes it, you're the one that has to pay the lawyers to fight it in court. Just because you have the patent, unless you have written it really well or employed a good patent agent, it doesn't mean it can't be circumvented.

 

Then I guess I will figure it out myself, if I don't get any partnership.

I already have a prototype of it, and if you're bold enough, you can just ask to know what it's about instead of being so scared of the unknown. I believe it has great potential, and I'm ready to share more details if anyone is interested.

Don’t need any technical details Simply share your business plan.

-How do you plan to divide shares?
-Who among the shareholders will have a say on the company’s direction?
-Do you require only a financial partner, or a business partner?
-How will it be sold?
-Do you require to develop a supply chain?
-Do you require employees? How many?
-What unfulfilled needs will the product address?
-Are there similar products already on the market? If so, what advantages does your product has over the competitors?
-Who are your potential competitors?
-How long before a similar object could be copied by potential competitors?
-Where/ how will it be made?
-What is the time
-What are its loaded costs? And potential sales price? To calculate profit margins.
-How much investment do you require, and do you already have your share?
-What is the break even point?

And a couple dozen other questions.

 

Have you searched the web for the product you want someone to develop + finance for you, already exists, or similar or not ? Patenting is simple but takes too long time. Last time I got into that took 3 years. And my patent attorney died in the middle of it. Then, 3M giant lawyers menaced to stop me

Have you searched patents ? One of a hundred countries to look: ----> https://www.uspto.gov/patents/search
You will need to learn chinese to search their patent site, and dozens of other languages for the rest.
Patenting gives you the right to sue, and nothing else. Lawsuits and lawyers cost money. Are you financially prepared for legal fight$ ?

Your member pseudonym tells clues on how this will end.