What you should do with an invention idea but no money?

You can make money through your invention in various ways, such as: Sell your idea to companies that buy ideas. Sell your patented idea to companies that buy patents. Make the idea into a product and do all that is necessary to market your brand.

How do I get funding for my new invention?

The federal government is usually the best source of grants for inventions; private organizations are more likely to offer funding if the invention could have a positive impact on society. Check both public and private funding as you research potential grant opportunities.

How much does it cost to get a patent pending?

What Are Patent Pending Costs? The cost to get patent pending status for your invention is around $1,500 without an attorney. If you hire an attorney, you can expect to pay $10,000 or more for a utility patent and $2,000 for a design patent.

Who do I contact if I have an idea for an invention?

Visit the U.S. Patent and Trademark Office (USPTO) website and investigate any patents on items like the one you want to invent. If you have questions or want to be sure your invention is legal for you to create and sell, consult with an attorney specializing in patents and IP law.

Where can I get funding for an invention?

There are several funding opportunities available to aspiring inventors, many of which are likely accessible to you.

• Using personal resources.
• Network funding.
• Private investment/loans.
• Government funding.
• Business financing.
• Crowdfunding.
• Other sources of funding.
• Conclusion.

What is the cheapest way to patent an idea?

There are two ways you can patent an idea: Write and file your own patent application (the cheapest way) – total cost about $830 for most inventors to get an issued patent (USPTO government fees only). A provisional type application is only $150 to file but this only stays pending for 12 months.

Can I file patent myself?

You can file a patent application on behalf of yourself or your co-inventors. Alternatively, you can hire a registered patent agent or attorney to file your application for you. Patent applications require both legal and technical expertise and even small mistakes can dramatically compromise the value of the patent.

How to get started on your invention idea without money?

All of these steps can get you started on your invention without any money. It just takes a little of your time each week to work on your idea and start moving in the direction of turning your idea into reality. The first step in getting your invention idea started is to do a few simple sketches.

Can I patent my idea without a prior patent?

If there is any, then you cannot patent your idea, whether there was a prior filling of another patent or not. Try to determine what people think or feel about your new invention. For you to make money with the invention, people must like and buy your product.

Do patented ideas fail to generate income?

And, research shows that almost 95\% of all patented ideas fail to generate income for the inventor. Preliminary research of the market response in relation to your product is a vital step that you shouldn’t skip. You must know how well or poorly the market will receive your product.

What is the first step in developing an invention plan?

For this reason, the first step will include writing down every single detail about your invention. This includes everything from how the idea came up, how it will work, and how you intend to produce and market the product.

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