Marketing the Invention Yourself

That means starting your own business. Quite a daunting prospect, especially if you have never run a business before. Even more so if you intend to manufacture.  Setting up on your own could either by the making of you or one of the worst mistakes of your life. Not everybody is cut out to be an entrepreneur and those who aren't cut out for it lose far more than just their money. Before taking this step do as much reading as possible and seek us much advice as you can.   

Outsourcing Manufacturing

If you choose to outsource the manufacture of your product you have to be very careful in your choice of manufacturer and make sure that the terms are right. You have to take account of a range of issues including quality control, delivery times, exchange rate fluctuations and even the possibility of our manufacturer's making a few extra copies of your product for himself or, worse, your competitor. You need good professional advice here and in the country of manufacture.

Selling or Licensing your Invention

Probably this is the preferred option for most inventors but it is also the most problematic. Your immediate challenge is to be noticed.  Household names get scores of unsolicited proposals from members of the public. Far too many for most companies to consider. Also, unless you are already well known in the industry, you have to overcome insiders' scepticism at the very idea of your teaching them something. You must get your timing right. Nobody will take a licence from you if there is no demand for your product or there are competing demands for investment however good your technology. Also, times change. Even if your licensee was glad to take a licence when it needed your technology, you can be sure that it will resent your royalty fees once it has mastered and indeed improved upon it. If you take this route approach manufacturers through an intermediary who is trusted by the industry such as a good product design engineer.