Just had that... Million pound business idea moment...

[jlindsay]

Im sure we all have these ideas. I have had many in the past. Although they were always complicated and extreme.
Well iv just had another idea, while watching Dragons Den. This time it seems more realistic. Did a quick search on google and i cant find anything like it. Its not a complicated product, non - electrical so should be very cheap to manufacture.
Im still at that excited stage. Lol

How would i go about making a prototype?
Copyrighting/patenting my idea?
Finding a manufacturer?
Etc etc..

Ive never tried to design a new product before so any advice would be much appreciated.

Thanks

 

[silklink]

I've no experience of this myself but I've heard so many people say that once you get a great idea, sell it - the idea that is. I think this is mainly due to the long and expensive process of doing what you are asking about

 

[OldWelshGuy]

Move to wales and make contact with the Welsh Assembly Government FS4B department. they will fund that lot for you pretty much .

 

Im sure we all have these ideas. I have had many in the past. Although they were always complicated and extreme.
Well iv just had another idea, while watching Dragons Den. This time it seems more realistic. Did a quick search on google and i cant find anything like it. Its not a complicated product, non - electrical so should be very cheap to manufacture.
Im still at that excited stage. Lol

How would i go about making a prototype?
Copyrighting/patenting my idea?
Finding a manufacturer?
Etc etc..

Ive never tried to design a new product before so any advice would be much appreciated.

Thanks

Have you researched the demand for your product.?

Earl

 

[Parrot Hosting]

Have you researched the demand for your product.?

Earl

Is it like the IBM moment... "there is worldwide demand for at least 5 computers"

 

[Derek Mc]

Depending on the materials and the complexity, speak to someone regarding Rapid prototyping, patenting, H&S investment tooling manufacturing, import and export licences and legals to ensure you own the design the intellectual property and as much of it as possible.

 

[GeorgeStrait]

Have you researched the demand for your product.?

Earl

Course they haven't they have just watched Daragon's Den.

Means either

A) The Dragons took it on an it's a goer.

B) It's a stupid idea and they said so.

Which means, it's not a million pound business idea either way now.

I've just watched a repeat of the six million dollar man, ok I need to up the the budget a bit but..................

 

[K-rado]

I've heard so many people say that once you get a great idea, sell it - the idea that is. I think this is mainly due to the long and expensive process of doing what you are asking about

I completely disagree. The idea itself has no value what so ever. (and I have no idea what the OP is talking about) With this I mean value if you are expecting another company to "buy it". Like all inventions and IP etc, there has to be some actual value added to it before it can be sold or licensed.
Like any business idea, take your time and do your R&D and pull together an outline business plan. If nobody has thought about it before now like you say, then it would be an unbelievable coincidence that somebody else has come up with the exact same thing in a relatively short period of time. Be careful about going to a rapid prototype co with just a fag packet design and a head full of dreams. you may very well be onto something but protect yourself and get an NDA drawn-up. When you meet with RP company, know exactly who will own the IP on the finished design and tooling. This is one of the most important items that could cost you dearly. K

 

First thing is a patent.

A NDA is worthless in many cases

Earl

 

[K-rado]

First thing is a patent.

Earl

Not necessarily though I get your point on NDA's. These should be drawn up by your solicitor. What you could do is file a patent application without claims but with everything else (drawings, description etc). This does not cost a whole lot of money and can be done by anybody. Draw up a NDA and develop the concept with a rapid prototyping co. but only to proof of concept stage. If it is workable and all is good then develop a business plan to see if it is financially viable. Then develop the claims with a IP solicitor ( these are the valuable bits) and request prior art searches from the IPO. Once you have got to this stage, then things can be developed further in terms of product or process design but the costs will escalate from here on in.

 

[MASSEY]

Move to wales and make contact with the Welsh Assembly Government FS4B department. they will fund that lot for you pretty much .

That's jolly good of them.