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We've invented something... next steps?

Discussion in 'General Investing Discussion' started by Sunshine Yellow, 5th Sep, 2018.

  1. Sunshine Yellow

    Sunshine Yellow Member

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    Sydney
    My husband has invented something and we don't know what to do next? Do we need to patent the idea before approaching come companies? We are completely new to this. Not sure what the next step is...
     
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  2. twisted strategies

    twisted strategies Well-Known Member

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    a patent ( if granted ) will only lessen the change of someone stealing the idea without penalty

    it also can be a long and torturous process to have one granted

    does your invention have a big future ???

    the answer is not an easy one but maybe a corporate-type member will be able to help

    depending on your invention you may have to apply for patents in several countries ( like China , US ,the EU for examples )
     
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  3. inertia

    inertia New Member

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    Where are you located?

    I know in Newcastle there is an "incubator" groups, with some government grant money to assist in getting ideas from conception to production (or perhaps advise that it might actually be an "ugly baby" that only you could love...) They have access to business advisers, shared office space, intellectual property lawyers (like my wife...) and other resources.

    If you went to uni, you may also find that uni provides resources to past graduates.

    Cheers,
    Inertia.
     
  4. Terryw

    Terryw Well-Known Member

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    Patent the design
    Trademark the name and logo
    perhaps get the website prior to these
    but first determine what legal entity should own the above.
     
  5. Sunshine Yellow

    Sunshine Yellow Member

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    Hi Inertia, we are in Sydney. There all great ideas. I don't think its one of those ideas that's going to change the world or need a government grant.

    Since posting, I looked into it some more and the first step is to get it patented as we don't want to sell our business case to corporate prior to some design protection. The fees for a patent aren't dear its using the patent lawyers etc. So for now its weighing up if we think its worth putting our limited resources against (I mean money).
     
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  6. twisted strategies

    twisted strategies Well-Known Member

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    many a mining company survives on R&D grants ( and tax breaks ) ,
    don't sell the concept short .... ask but keep your expectations ( of a grant ) low.

    you might be lucky

    cheers
     
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  7. inertia

    inertia New Member

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    Location:
    Newcastle, NSW
    I wouldn't write off gov assistance - it many not be a ton of money on offer (a few '000, maybe up to 10k), but there is also business and process guidance available. And that assistance can mean the difference between being able to get the IP protection you require, and abandoning the idea...

    You may be surprised by some of the services on offer through government agencies, and also as I mentioned through universities, especially if you are a former student.

    Cheers,
    Inertia
     
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