Best way to sell my patent pending product

[tenacity4me]

I have designed and built four prototypes of varying sizes.
They are of two distinct categories though they perform the same task.
The larger one is for commercial and domestic use the smaller one for schoolchildren.
They are at the substantive examination stage of the patent process.
My own personal research in conjunction with other agencies has produced no prior art.
I have paid £3500 for CAD drawings and renders produced on a cd rom.
I have also paid £2670 to a 'credible' inventions company who after one year refused to divulge to me the companies he had approached or seen. I dispensed with his services and have apealled for reimbursement to the Small Claims Courts.
I have produced line drawings, photographs of the same and a press release with detailed description of my product, together with the cd-rom, I am now in a postion to approach companies.
I am not in a position to finance the manufacturing of the prototypes so seek to sell my product in return for a lump sum and royalties.
I have been approached by 2 USA companies, Absolutely New and Davison but my experience of the same genre leave me not wanting to accept their approaches.
I need to locate key personnel of leading companies.
I have demonstrated the products and schools and elswhere and the response has been tremendous, when asked if they would buy one, they all said yes.
The product has world wide potential, it is eco friendly, promotes exercise, has potential to become a valuable school resource, reduces physical stress. I could go on forever but I am passionate about my product.

 

[FunkyBears]

A the momment it sounds like you have nothing but and idea people say they will buy. Would you not be better waiting until you have the patent then you will have something of value to sell. I doubt if anyone will give you a lump sum only to find your patent application has been turned down. Once you have the patent in place then it is a different story and you could look for an investor or partner to drive it forward.

 

[tenacity4me]

Thanks for your reply.
My product is a reality and not an idea.
Patents can take years before they are successful.
Middle men such as the companies who have approached me have seen my products potential and a way of them making profits from my work. These comapnies do not wait for patents to be given, on the contrary, they jump in.
I was simply asking if out there there was someone who could advise me on the best way to locate company key personnel.
I am ready to go out there and demonstrate my product.
Thank you.

 

[oliver3487]

depends what the product is. Can you post details of the product please

 

[Target]

There's a (surprisingly effective) Scottish government agency that helps with exactly this sort of enquiry - http://www.icass.co.uk/. Not relevant to you, I realise, but I'd be astonished if there isn't an English equivalent. ICASS are accessed via Scottish Enterprise/Business Gateway. Try your equivalent in England.

George

 

[tenacity4me]

Thanks George , much appreciated, I'll get onto it rightaway.

 

[captaincloser]

Both Absolutely New and Davison are notorious US scam/crooked companies as you found with your UK 'invention promoter'. They all simply prey on gullible 'inventors'...

 

[tenacity4me]

They are .
I have done some detective work on the company that did me and I
have dug up a lot of interesting connections. Do you know of an organisation that would follow up my concerns. Thanks

 

[captaincloser]

Unfortunately there is unlikely to be anything you can do for redress from an invention promotion scam.Hundreds in the UK conned each year and thousands in the US.

Carefully worded contracts/agreements signed with invention promotion companies mean an individual would fine it hard to get their money back.

The best you can do is kick up one hell of a fuss over the phone and keep at it..do not waste money on legal advice.These guys will have better legal advice, they always do.

There is a very harsh reality to 'inventing' and invention promotion companies and the patenting process in general for the man in the street. The words 'invention promotion scams' typed into Google should tell you all you need to know. But spending more money chasing any 'losses' is not really going to help you. Just bug the hell out of them and don't let go.

 

[2vida]

I work with retail buyers from the high street and unless you have very strong and historical relationships with them it would be virtually impossible for them to offer a deal based on a paper idea.

Another idea might be to look at speaking with companies that specialise in your sector and offering them a licensing deal to manufacture the product for you?

 

[tenacity4me]

Thanks for your reply.
I agree in some respects to a strong historical relationship being crucial in this matter but surely it is not the only way.
I don't expect it to be easy, I've been around the block many times but what I do know is that where there is a will there is a way.
My aim is to sell the license to a company in return for an up front lump sum and royalties.
If I had the finances I would go the whole hog but I haven't and that's why I need advice from forums like this one.

 

[TBTB]

You will certainly need to be able to demonstrate your product. Do you have a working model? In all of the start up companies that I have been involved with, success is about being able to identify your market and then to build relationships with appropriate players i.e. if you can't sell it yourself, get your partners to sell it for you. But you have to be prepared to reward them in some way. If your target market is schools, you need to approach a range of government organisations and educational authorities. Good luck!

I don't see anyone giving you a lump sum for an unproven product. Do you have a business plan? How much funding do you need? What timescale have you to break even? PM me if you want an informal chat. I am currently involved with a sports-related company.

 

[k frost]

I am one stage ahead of you. My granted patent is to be published june 6th. So now I hold the key to my IDEA. I guess I will have to sell 'out right' to ever see any cash because like you mentioned I am not able to start a manufacturing operation, £200k+. And so I my get £20k on a good day. But 16 years of a monopoly on a new technology could could generate millions. Thats life.

I only want 5% to 10% of my cake. And thats to put towards my next idea on my quest to save energy.

Keep at it.

 

[RENATA BARNES]

My client has asked me to help him sell a patent pillow which he wishes to market in the UK. I do not know the first thing about getting investors for this type of invention. I can provide images and more info should anyone be interested. Sorry for being a bit vague.

 

[Mr D]

My client has asked me to help him sell a patent pillow which he wishes to market in the UK. I do not know the first thing about getting investors for this type of invention. I can provide images and more info should anyone be interested. Sorry for being a bit vague.

Can he produce a prototype?

 

[RENATA BARNES]

I presume he can, he has sent me a pdf Sworn Court translation of his pillow M-9885 invention.
It Is an elastic pillow good for cars, aircrafts, as appendix above sleeping bags. Good for sleeping on the floor :habit in Japan. Can be easily cleaned. I can send you the document if you provide me your email address or email me at info (at) startbrand (dot) co (dot) uk and I will reply back. Kind Regards Renata. Sorry I cannot send links at the moment on this channel.

 

[Chris Ashdown]

I was granted a patent for a new buoyancy aid equipment but was unable to finance it, visited many companies in similar equipment but totally different and told "if we take on your patent we will ruin our own range of Buoyancy equipment " so if you are successful we will then by it.

Never did happen and expired a number of years ago

 

[RENATA BARNES]

Thank you for your message, I will continue to contact manufacturers and will cross each bridge when I come to it. My client will sell his patent outright to the right investor.

 

[Mr D]

Good luck. Not all parents get sold, not all are worth a company investing in.
Or he could arrange his own investors and get it built.

 

[RENATA BARNES]

Thank you for your feedback, it is all duly noted