New Inventions

Research the market Whether you're creating an entirely new category in the marketplace or simply putting a new spin on an existing item, your invention has to fill a need in the marketplace. Make sure your product is unique before investing a lot of time and money in it.

I recommend:  Do simple Internet searches on sites like Google and Business.com to determine what kind of competition is out there. Find focus group sample survey forms at InventionCity.com. If this is your first invention, study the "Seven Things Every Inventor Should Know."

Develop a prototype Developing a model of your invention streamlines the patent process and simplifies the search for a manufacturer. It's also a good way to work out design kinks and determine how much it will cost to manufacture.

I recommend:  Find out the many reasons why every inventor should develop a prototype before marketing an invention at IPFrontline.com. Learn how to create a prototype and digital renderings of your product at AskTheInventors.com. If you aren't an engineer, get help creating a working prototype, physical prototype or virtual prototype from an invention services firm, such as InventionHome.com or InventHelp.com.

Patent your invention Protect your invention in the marketplace with a patent. This will prevent competitors from stealing your idea and will protect it for a number of years — 14 to 20 — depending on the type of patent. The patent process is notoriously difficult to navigate, so consider hiring a registered patent attorney or agent to assist you.

I recommend:  Apply for a patent on your design through the U.S. Patent and Trademark Office (USPTO). Find a registered patent attorney or agent in your area by searching the USPTO attorney/agent database.

Find a manufacturer and distributor Before you can start marketing your invention, it has to be translated from a prototype into a real-world product. To find manufacturers, attend tradeshows and interview potential partners about pricing, quality and service.

I recommend:  To find a manufacturer for almost any type of product, look to the Thomas Register for a list of American manufacturers or the Thomas Global Register for international manufacturers. Learn more about the manufacturing process at InventionCity.com.

Market your invention To get your invention from the manufacturer's warehouse to the consumer, you need to come up with a sales plan.

I recommend:  Get tips on marketing your invention in the Ultimate Invention Success Kit from InventionSuccess.com. If your product would appeal to a wide base of consumers, consider selling it on television as a direct response retailer. Home Shopping Network (HSN), Guthy-Renker and Thane all provide submission guidelines for new product vendors.

License your invention If getting your invention to market seems like a lot of work, it is. To lighten the load, consider licensing as an option. In this scenario, you hire other companies to produce and sell your product while you collect licensing fees.

I recommend:  Get a better idea of how licensing works and find companies that are searching for products to license at AskTheInventors.com. Before signing any agreements with an invention marketing firm, learn what to beware of and search a list of companies that have been known to scam inventors at BPMLegal.com.