February Insights: Navigating the Path from Idea to Market
Brian Fried
Inventor Consultant/Coach, Invention Licensing Agent, Author, TV/Radio Host, Innovation Speaker/Presenter, Serial Inventor
Time to Make Money with Your Inventions: Ready to Manufacture Your Product? Things to Consider in Setting Up Your Business
A few more questions for you and thoughts for setting up your business since you’re manufacturing your product.
Did you incorporate your business? Speak with your accountant about the best type of business structure for you based on your finances and how you file your taxes. In my opinion, the best time to incorporate is when you’re ready to start receiving money from your sales. Once you have your corporate structure in place, you want to keep track of any investments that you put in, like legal fees, prototypes, and engineering, as examples. Just keep track of what you spend or have spent as possible tax write-offs. You can also run your business as a sole proprietor, but I prefer a corporation because you never know when someone may challenge product liability or your intellectual property. You want to shield your personal assets from your business side. How about setting up a bank account dedicated to your business expenses only. To open a business bank account, you’ll need to show the bank your corporate filing documents so you can accept customers’ payments! A few more recommendations about setting up a merchant account to accept credit card payments. You can sign up for a merchant account with your local bank or other popular options, PayPal or Stripe. You’ll need your corporate information as well so they can open up a merchant account for you and verify who you are.
Going Deeper with Your Invention Search and Patent Basics
Many people come to me and say that they have this great idea for an invention. So, I ask them if they’ve done a search and they say, yes of course! I later found out that their search was only looking down the aisles of Walmart! There is a difference between the research we did in the previous section and the patent search we are going to be doing now.
Here are some patent search tips. You’ll also have access to a video showing basics of how to use this information. I recommend searching for patents using the Google Patent Search website (patents.google.com).
Just put in the google search bar, “google patents” and their website results come up. You can click on that link right into that link. And there’s also the main site from the U.S. Patent & Trademark Office USPTO .
I think the Google Patents site is really easy to use, but you can use them both. You can begin by using descriptive terms of your idea. For example, if I just came up with a light bulb on top of a pencil, I would type in, “a pencil with LED light,” or “pencil that lights up with a fluorescent bulb,” or “light bulb attached to graphite pencil,” or even look up the same thing using ink ballpoint pens.
Do you get the idea? Use descriptive words. I hear many people say that they’re going to search for their idea with this great
name or a unique name that they came up with. That most likely is not going to show up in your patent search. So, as you do a search, try to be as clear as possible with your “descriptive” search terms and take your time!
Remember that search results are pulling up descriptions of a gazillion things out there. So, think of the words that would be used to find it! You have to search with your eyes open. I know that it can be very exciting searching for your idea in the patent registry and in all these other searches we’ve done so far. But many inventors perform these searches with their eyes closed because they’re too afraid that they’re going to find their invention out there. The easiest way to start is by looking at the drawings in the patents. Then, you could read the claims listed of utility patents.
The Doorhickey?: Hands-free Handle for Sliding Glass Doors by Ginger Thomson
Hands Full and Trying to Open Your Sliding Door?
Congrats to Ginger Thomson on making the Inventor Spotlight in the Inventor Smart Community App, with patents on bristlehead replacements on a toothbrush and storage within the handle of a toothbrush.
Tired of fumbling around trying to open your sliding glass door when your hands are full of plates, trays, steaks, and what not -- only to end of dropping everything and looking like a doofus? So was Ginger Thomson, which is why she invented The Doorhickey?, an extra handle for sliding glass doors! Just PUSH the suction cup firmly onto the CLEAN glass of your sliding door, TURN the handle clockwise, creating a Herculean vacuum suction, then SLIDE the door open and closed with your elbow, foot hip, or whatever! Comes in a set of two -- one for the inside and one for the outside of your door! A set of two is just $29.99 plus shipping! BONUS: You'll also receive a FREE microfiber cleaning cloth for your glass! The Doorhickey? Proudly made in the U.S.A.! Ginger is a proud member of National Inventor Club, included in the Inventor Smart Community app.? CONGRATS GINGER!!!
The Doorhickey is available at www.doorhickey.com
Question: ?What kinds of inventions can be protected?
Answer:?
Patents may be granted for inventions in any field of technology, from an everyday kitchen utensil to a nanotechnology chip. An invention can be a product – such as a chemical compound, or a process, for example – or a process for producing a specific chemical compound. Many products in fact contain a number of inventions. For example, a laptop computer can involve hundreds of inventions, working together.
National Inventor Club 's "Let's make it happen" in 2024 Kickoff!! For our January 2024 meeting, we hosted Wham-O, an American toy company known for creating and marketing many popular toys for nearly 70 years, including the Hula hoop, Frisbee, Slip 'N Slide, Super Ball, Trac-Ball, Silly String, Hacky sack, Wham-O Bird Ornithopter and Boogie Board, many of which have become genericized trademarks.
We had a live interview with the Head of Design, Product Development and Licensing, David Huang from Wham-O ! Discover the secrets behind Wham-O’s successful products and their relationship with inventors. Learn from one of the most iconic company brands sharing experiences and the anatomy of a great idea, product development essentials, and the art of marketing. Find out about new idea submission criteria, patents, royalties, and their decision-making process.?
We also had some great guest intro speakers lined up. Lori Szudarek , representing the The Inspired Home Show , graciously extended an invitation to the upcoming home trade show in Chicago this April, providing a promising avenue for inventors. Tim Walsh , an esteemed toy inventor and author of "The Wham-O Superbook," shared his expertise, adding a dynamic perspective to our discussions.
We were also joined by @Pierre Laspinasse from the SBDC, America's SBDC imparted invaluable business tips, contributing to the wealth of knowledge shared during our event. We also heard from Marilyn C. Nash , the Regional Outreach Officer at the USPTO , provided updates from the patent office, shedding light on the latest developments in the field. We also had the privilege of hearing Deputy Director Derrick Brent of the USPTO who graced us with words of wisdom, enhancing our understanding of the evolving landscape of innovation.
We also met our Inventor Spotlight of the month, Dr. Alevtina Malakova, DDS , the? inventor of BrushRefresher.? Additionally, we welcomed new premium members to the National Inventor Club, further expanding our community of innovators. The diverse perspectives and experiences shared by these esteemed guests and members truly made the meeting a remarkable and enriching experience for all.
National Inventor Club is one of the largest and most active communities for inventors, innovation, and service providers that support invention and continues to provide a nationwide platform for great guest speakers, networking, and connections founded and moderated by Brian Fried , who has been running inventors clubs for over 15 years.?
To become a member, please join us at National Inventor Club : https://nationalinventorclub.com/join or download the Inventor Smart Community app https://inventorsmart.app Available on Apple App Store or Google Play.
The Got Invention Show features a 30-minute interview where an inventor promotes an invention, seeks a licensing deal, or looks for distribution opportunities. Host Brian Fried focuses on his guest’s challenges and solutions. He asks about their journey, where they are right now, and what will come next. He invites guests to offer words of wisdom to viewers and listeners.
Got Invention Shows hosted Zuly O. , the founder of Tiara.?
Zuly Matallana's journey from Colombian community director to Canadian entrepreneur is marked by qualities of strength, drive, and passion. After moving to Canada in 2004 due to safety concerns, she leveraged her immigrant experience to write an e-book for newcomers.
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Establishing a successful career in software, banking and consulting, Zuly founded two companies. Her first venture, Mavicol, provided quality raw materials to Fortune 500 construction firms. Inspired by her own needs, she created the revolutionary TIARA Bliss Inc, addressing common haircare challenges sustainably.
Zuly's entrepreneurial spirit shone on @Dragons' Den, securing a deal and expanding to platforms like Good Morning America and The View . Throughout the pandemic, she shared experiences, emphasizing innovation and sustainability.
Beyond business success, Zuly's impact extends globally. Recognized for her innovation, she mentors and inspires female entrepreneurs, embodying her belief in intent-driven actions. Her company, TIARA Bliss Inc., evolved beyond shower caps to include natural deodorants, earning acclaim for efficacy and authenticity.
Accolades like the 20 top Female entrepreneurs and Top 10 Latinas for 2023, The Shoppy Diversity Female Award, and the nomination for Women's Executive Network (WXN) Canada's Most Powerful Women underscore Zuly's transformative influence. In a nutshell, Zuly Matallana's journey epitomizes an immigrant-turned-entrepreneur's resilience, innovation, and commitment to positive change. https://shopmytiara.com/?
Would you like to be our guest on the Got Invention Show ? Schedule your interview today to promote your prototype or product now available for sale to now reaching 100 million households!
You and Host Brian will do a 28 minute interview and once the interview is completed, you can use it for your website and social media and we air on Amazon Fire, Roku TV, YouTube TV!! The podcast audio version of your interview is played on Spotify , iHeartRadio , Google and Apple Podcasts and Amazon Music ! Small fee, great promotion for you and your invention!!
IP basic toolkits
Do you want to learn more about intellectual property (IP), but you aren’t sure where to start? The United States Patent and Trademark Office USPTO , in conjunction with the United States Copyright Office, has created toolkits to help those new to IP learn the basics of patents, trademarks, copyrights, and trade secrets, and to provide?step-by-step guides to obtaining protection for each type of IP. Click here to learn more.
“I would say it takes a lot of perseverance, it's taking responsibility for everything. I hear a lot of people blaming other people. Oh, it didn't work out because so and so didn't do their part on this journey. You have to take full responsibility, whether or not you made the mistake or not, this is yours. And so I would tell others, if you're going to go on this journey. There are going to be mistakes and some of them are not going to be your fault, but guess what? You have to take responsibility.”
On February 4, 1941, Roy J. Plunkett was granted the patent for “Tetrafluoroethylene Polymers” also known as Teflon?. U.S. Patent No. 2,230,654.To read more about click this link:?https://suiter.com/patent-week-tetrafluoroethylene-polymers-teflon/
A shop for Inventors, innovators and patent holders - Check out InventorMart.com!
This is a shop for you! You've worked hard on your invention, now you can wear DESIGNS & MERCH made with you in mind! Find shirts, hoodies, sweatshirts, hats, stickers, blankets and over 1,000 unique items to show that you are proud to be an inventor. check out InventorMart.com
About Brian Fried ?
Inventor. Speaker. Coach. Author. Radio & TV Host. Founder.?
Brian Fried, known as "The Inventor Coach," is a highly accomplished innovator, author, and speaker. With 15 patents to his name, he has successfully licensed and manufactured his own inventions, gaining recognition through QVC , infomercials, catalogs, and major retailers. For over 18 years, Brian has been working closely with inventors, providing one-on-one coaching as an invention licensing agent and guiding inventors in commercializing their ideas into tangible products.
As an expert speaker, Brian captivates audiences with his engaging talks on innovation and invention. He has authored three books, offering practical advice and strategies for aspiring inventors. In addition to his speaking and writing endeavors, Brian hosts the Got Invention Show a platform that showcases inventors and their creations, providing them with valuable exposure.
Brian is the founder of the National Inventor Club , a community that supports and connects inventors, fostering collaboration and networking opportunities. He serves as the Chief Invention Officer of Inventor Smart, an invention consultancy that assists inventors in bringing their ideas to fruition.
In October 2023, Brian officially launched the Inventor Smart Community App , an innovative social media and resource center exclusively designed for inventors. The app, now available for download on Google Play and the Apple App Store, aims to create a vibrant community where inventors can connect, share ideas, and access valuable resources.
With his extensive experience, resourcefulness, and commitment to helping inventors succeed, Brian Fried has become a trusted figure in the invention industry. Inventors and aspiring innovators can rely on his expertise and guidance to navigate the complexities of the invention process and turn their ideas into reality.
Sponsorship opportunities available for future newsletters. If you'd like to promote your product or service please contact?[email protected] or call (631) 565-7074
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Inventively Yours,
Brian Fried and the Inventor Smart Team
Just don’t waste your money and file for IP / patents !
Next Trend Realty LLC./wwwHar.com/Chester-Swanson/agent_cbswan
9 个月Thanks for posting.
Senior Graphics Designer | Building Strong Brand Identities that Leave a Lasting Impression | Expert in Logo Design, Branding, & Visual Storytelling.
9 个月Dear Brian Fried, your passion for turning ideas into reality is truly inspiring.