Know-How Exchange : Branding

First things first: Have you protected the idea with a patent filing? If not, that needs to come first.

Next, you need to determine how you want to bring the product to market from a strategic perspective. Do you have or need seed capital, and how are you going to get it? Are you prepared to give up a large chunk of the equity to raise the money? Do you have sufficient funds (or backing) to develop a rough-cut business and marketing plan?

We have been involved in a number of new business ventures with far-reaching objectives and implications, and we know what it takes. It can be daunting. It's as much about the business and marketing plan as it is about the great idea and the patent protection.

We've also worked for large corporations looking at buying or licensing technologies, and their questions and problems are surprisingly similar. It all boils down to some experienced up-front planning and thinking.

Feel free to contact me offline if you need more detailed information. (Where are you located? Are you working as an individual or for a corporate entity?)

Be sure you find a "Good" patent attorney as patents can be gotten around. The difference between a good patent and a bad patent can be a huge deal.

It is much easier to sell a product than an idea. Is this something you can get in the works first. People come up with ideas all of the time, it is the making them work that is usually the difficult part. If you can get it to work you will be able to sell it for much more than an unproven idea.

Mike