Re: OT: How to sell ideas(again)

On Oct 12, 5:34�pm, "Jon Slaughter" <Jon_Slaugh...@xxxxxxxxxxx> wrote:
"mpm" <mpmill...@xxxxxxx> wrote in message

news:85139ee0-495b-4429-b77f-193a58b2deeb@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
On Oct 12, 4:34?pm, "Jon Slaughter" <Jon_Slaugh...@xxxxxxxxxxx> wrote:





"Jim Thompson" <To-Email-Use-The-Envelope-I...@xxxxxxxxxxxxxxx> wrote in
messagenews:a1n4f4tber3tp80hd9439b16ru8443qfbh@xxxxxxxxxx

On Sun, 12 Oct 2008 13:31:47 -0500, "Jon Slaughter"
<Jon_Slaugh...@xxxxxxxxxxx> wrote:

I have *another* "make-ah-million" idea that I'd like to "sell.

This idea isn't electronics and actually is very simple but seems no one
has
thought about it(although there is a similar product that has a similar
idea
so there might be a possible issue here but I doubt it because there are
some major differences).

In any case this idea can surely make millions quite easily because of
the
market... and in this case I know there is a market. (although I guess
with
the current economic issues it is smaller).

The problem if that for me to do it is much more trouble since I have to
by
a product from some guys and I cannot make much money off it becaus they
already over-inflate the price. And chances are someone else will steal
the
idea anyways once they see it.

The companies who make the product I use can easily modify their product
with virtually no trouble and reap the benefits. ?(actually there are
several companies that might want this idea)

I'm not sure if it's patentable(although it seems like anything goes at
the
patent office).

I'd rather not start a business to do such a thing because I'd rather be
doing other things(And I'm not a business person). ?The companies that
make
the product already have the infrastructure without virtually any
modification.

(over a million(probably like 10M world wide) of these products are sold
each year from a few hundred to a few thousand dollars each)

I know several of you said that you can't approach these companies(it's
not
worth it or you can't trust them) but surely there is some way to make a
profit off a good idea?

With all your "make-ah-million" ideas, why aren't you a millionaire
?:-)

cause it takes money to make money... Although I don't understand all the
sarcasm and doubt when you guys don't even know the ideas ;/ Hell, if
someone can make a millions off a new flyswatter or some pantiehose then
this idea can do it. (I do think I have some ability to judge the
usefulness
of something along wtih the market... not like these ideas are just random
things. Sure I might over/under estimate things at times but thats not the
point.)

Ultimately it's not the idea but the marketing that makes the money.

Ultimately, its customers willing to part with their money that makes
the idea worthwhile!
And that is the first, and possibly only, thing you really need to
know.
-----

Well, obviously... that a precondition in any sale.

============
I recently sold an idea to a mid-size company.
I'll email you the Agreement I made with them. WIth a few edits, you
can probably use it for your ideas. �Depending on your comfort level
with the particular idea, you could file the Patent App and then sell
the rights (assign) that application to the Buyer. �This can
occasionally add value to a non-savvy buyer. �But in reality adds very
little.
---

Cool, I'd appreciate it. Would you mind expanding on how it went? �I don't
have any doubt that for the right price the company will implement the idea.
The problem I have is that I have no leverage unless it is patented and even
then I imagine they can get around it.

I'll have to look into the patent though... this is the first idea that I
would actually spend the money on the patent if I knew it would protect the
idea from being ripped off. (unfortunately I have been researching the cost
of the components and for a "fancy" version of my product would be quite
expensive unless I could buy in bulk

=========
Overall, it's difficult. �More difficult than you imagine. �A lot of
companies don't even want to hear about outside ideas becuase they
fear that may already be working on somthing similar, and don't want
to raise intellectual property theft concerns with the outside world.
Among other reasons. �All you can do then is move on to the next Buyer
in line.
----------------

Well, it might be more difficult but that's not the issue. It's not as
difficult as doing it myself. To be honest I don't really want to make a
business out of it because I have other things I'd like to work on.. but I
surely would like to make a nice profit off the idea and to see it
implemented. If I were going to do it I might as well go all out and create
a new product from scratch(in fact I have wanted to do that but in no way do
I have the infrastructure for it and it would be a full time thing).

============
BUT, if you're willing to play by THEIR rules, and your idea has
enough merit, you can probably strike some sort of deal with someone.
But do not expect to get rich overnight. �Isn't going to happen. You
can also expend more time, energy and money trying to market the idea,
than anyone is ultimately willing to pay you for it, so keep that in
mind. �Your time is valuable.
--------

Well, obviously it would be part of the negotiations. I do not know how much
the idea is worth but if I look at it optimistically then it can easily be a
multi-million dollar product(revenue). �If I estimate, say, 10k sold with
each one making a profit of 50$ then thats 500k. IMO that is extremely
under-estimated and my best guess estimate is at least 100k sold which of
course is 5M. This probably would be annual so it's a good investment. (not
sure the long term profitability of it though)

I'm not sure how to estimate such a price for the idea based on those
figures. �(specially when there is so little work involved in modifying the
product) �Seems 10k is way to low for them to potentially make millions of
it(out of all my ideas(1000's) this one has the most potential to make the
most money). �Of course I doubt they would be willing to pay 500k for just
an "idea", although I already have the basic circuitry needed and I'm
probably going to try to get a prototype up sometime.

I thought about maybe a "royalty fee" of, say, 10% for everyone sold but I
imagine this is hard to enforce.

Really the biggest problem I have doing it myself is to be undermined by
some other company. I could start by just selling them on the net one at a
time but without some patent(and even with one) I imagine the idea will be
copied. I also wouldn't be able to make much because the cost of buying the
product from the company(Which is why I'd rather have them do it in the
first place since it's more efficient over all).

Anyways, I'd really appreciate your experiences as it could help me
determine how to go about it.

Thanks,
Jon- Hide quoted text -

- Show quoted text -

Check your inbox, Jon.
Just sent it to you.

-mpm
.

Relevant Pages

  • Re: OT: How to sell ideas(again)
    ... and in this case I know there is a market. ... cause it takes money to make money... ... you could file the Patent App and then sell ... More difficult than you imagine. ...
    (sci.electronics.design)
  • Re: The Great Divide
    ... government thought that patents would stimulate invention. ... How could they make money from ... >>Patent Office. ... > Stimulating publication of research. ...
    (sci.econ)
  • Re: The Great Divide
    ... > But sometimes they don't care that much about getting paid. ... If Du Pont did not pay them, and did not buy them supplies and tools ... The patent requires them to publish, ... Those approved by the Bush administration to be able to use Federal money. ...
    (sci.econ)
  • Re: Possible BBB for sale
    ... I have made money on some pins I have ... sold the games for very reasonable prices. ... > Home of the world renowned EXECUTIVE Pin Footie ...
    (rec.games.pinball)
  • Re: Come Cross Test Circuit Theory in Simulation, Over Unity Circuit
    ... any money to know how, it takes money for patent attorney's, patent ... and anything I invent could use that circuit. ... An attorney is trained in law, not electronics. ...
    (sci.electronics.cad)