I have an invention that could revolutionize bow hunting
07-10-2004, 03:39 AM
#41
Nontypical Buck
Join Date: Feb 2003
Location: Jax beach Fl. usa
Posts: 4,031
RE: I have an invention that could revolutionize bow hunting
My nieces husband is a patent attorney, and I talked to him about something I had and this is what he told me;
It can cost 10-20 grand and several years to get a patent. You should pay for a patent search because they are pro's who know what they are doing. Not only do you search the US patent office, but the European patent office as well(they have copies of patents from all over the world, and is a better place to search). He also told me the patent office will not take applications unless they are filled out by an attorney.
Things to have when filing; A working model, design drawings, application. Sometimes there are other forms.
And I have some bad news... Even if you have a notarized piece of paper of your drawings AND you mailed it to yourself certified mail, it might not help your case as being the first. The kicker is if the other person who ends up with a patent knew about your product or not. If he had no way of knowing about your product then he has a legal claim to the patent. If it were someone you went to for help, or marketing, and they turned you down then went behind you back and got a patent, then and only then do you have a claim, but it is difficult to prove.
If you went to anyone, they could turn you down and after you leave they could call their sisters cousins brother, and you couldn't prove it without an expensive and lengthy court battle, and if you couldn't afford the cost of obtaining a patent how can you afford the legal process of defending?
Last but not least is Someone could be doing the same thing you are but are 2 days ahead of you. This is why patents are pending and not issued immediately and there is a final patent search just prior to issuance. And you will be investing money, lots of it. In addition to spending lots of money, YOU have to market that idea. Before investing ANY money I would do a feasability study just to find out if a bow manufacturer sells enough bows to recoup there investment from buying the rights from you. It might not be feasable.
Lets say it cost you only 8 grand for the patent (a low amount in todays economic times) Then you spend another 2 grand going to different bow makers, archery suppliers, etc. (better to sell it in person than mailing a letter) Just to break even you gotsta have 10 grand, but you want more and that anount depends on you. Do you want 20 grand? 30? 50 grand? Lets take 20 grand....How many bows does Matthews sell each year? Lets say this product adds 10 bucks to the value of the bow they woul need to sell at least 2,000 bows to break even IF the parts were free. It might not be worth it to them, but an archery supplier might be able to sell the product if you produce and package it.
Good luck!
Holder of TWO patents, and lost my savings on both of them, as they were unmarketable. Received a pending patent that was later denied because an identcal item was filed 37 days earlier than mine. AND my wife told me I couldn't put a 2nd mortgage on the house to pay for another idea to go to patent.
By the way patents are only good for 17 years and nonrenewable.
It can cost 10-20 grand and several years to get a patent. You should pay for a patent search because they are pro's who know what they are doing. Not only do you search the US patent office, but the European patent office as well(they have copies of patents from all over the world, and is a better place to search). He also told me the patent office will not take applications unless they are filled out by an attorney.
Things to have when filing; A working model, design drawings, application. Sometimes there are other forms.
And I have some bad news... Even if you have a notarized piece of paper of your drawings AND you mailed it to yourself certified mail, it might not help your case as being the first. The kicker is if the other person who ends up with a patent knew about your product or not. If he had no way of knowing about your product then he has a legal claim to the patent. If it were someone you went to for help, or marketing, and they turned you down then went behind you back and got a patent, then and only then do you have a claim, but it is difficult to prove.
If you went to anyone, they could turn you down and after you leave they could call their sisters cousins brother, and you couldn't prove it without an expensive and lengthy court battle, and if you couldn't afford the cost of obtaining a patent how can you afford the legal process of defending?
Last but not least is Someone could be doing the same thing you are but are 2 days ahead of you. This is why patents are pending and not issued immediately and there is a final patent search just prior to issuance. And you will be investing money, lots of it. In addition to spending lots of money, YOU have to market that idea. Before investing ANY money I would do a feasability study just to find out if a bow manufacturer sells enough bows to recoup there investment from buying the rights from you. It might not be feasable.
Lets say it cost you only 8 grand for the patent (a low amount in todays economic times) Then you spend another 2 grand going to different bow makers, archery suppliers, etc. (better to sell it in person than mailing a letter) Just to break even you gotsta have 10 grand, but you want more and that anount depends on you. Do you want 20 grand? 30? 50 grand? Lets take 20 grand....How many bows does Matthews sell each year? Lets say this product adds 10 bucks to the value of the bow they woul need to sell at least 2,000 bows to break even IF the parts were free. It might not be worth it to them, but an archery supplier might be able to sell the product if you produce and package it.
Good luck!
Holder of TWO patents, and lost my savings on both of them, as they were unmarketable. Received a pending patent that was later denied because an identcal item was filed 37 days earlier than mine. AND my wife told me I couldn't put a 2nd mortgage on the house to pay for another idea to go to patent.
By the way patents are only good for 17 years and nonrenewable.
07-10-2004, 04:23 AM
#42
Dominant Buck
Join Date: Feb 2003
Location: Blossvale, New York
Posts: 21,199
RE: I have an invention that could revolutionize bow hunting
Well personnally.... I'm going to really be broken hearted and pitch an absolute tizzy if this thing isn't on the market by hunting season.[
] I may just kick the cat or smack the little woman if I don't have one of these must have "DO DADS" that's going to set the world on fire. I want to be the first too eliminate 2 things off my recurve and make it better. Right now I have a string and a piece of wood. Given that, I've figured out he's come up with a way for me to point my finger and say... "I gotcha". Yes SIR.... sign me up. I may take two so I can use BOTH pointing fingers.
] I may just kick the cat or smack the little woman if I don't have one of these must have "DO DADS" that's going to set the world on fire. I want to be the first too eliminate 2 things off my recurve and make it better. Right now I have a string and a piece of wood. Given that, I've figured out he's come up with a way for me to point my finger and say... "I gotcha". Yes SIR.... sign me up. I may take two so I can use BOTH pointing fingers.
07-10-2004, 08:11 AM
#43
Join Date: Jun 2003
Location: Shreveport, LA
Posts: 305
RE: I have an invention that could revolutionize bow hunting
I want to be the first too eliminate 2 things off my recurve and make it better. Right now I have a string and a piece of wood.
07-10-2004, 08:30 AM
#44
Dominant Buck
Join Date: Feb 2003
Location: Blossvale, New York
Posts: 21,199
RE: I have an invention that could revolutionize bow hunting
NOPE... can't be a spear... that would only eliminate the string.....I'd still have my chunk of wood only now it'd have an added point.[&:]
07-10-2004, 10:22 AM
#46
Join Date: Feb 2003
Location:
Posts: 136
RE: I have an invention that could revolutionize bow hunting
I don't know this for a fact but I've heard that you can try to arrange a meeting with a company rep, have them sign an agreement not to steal your idea, and pitch them the product. If they are interested in adding it to there line of products then a contract is signed and you probably sign off the rights to it for either a lump sum payoff or a percentage of sales. You wouldn't make nearly as much money doing this as you would if you did all the work yourself and it truely was a product that no hunter can go without but at least you would make some money on the deal. Also you would not have to front your savings on something that might not turn out. No idea if this is true but it may be worth looking into, you might make just enough to fund your next big idea yourself!!!
Bass Pro and those stores are just Retail stores for existing products so you would need to work with a manufacturer directly.
Bass Pro and those stores are just Retail stores for existing products so you would need to work with a manufacturer directly.
07-10-2004, 12:15 PM
#47
Nontypical Buck
Join Date: Feb 2003
Location: Jax beach Fl. usa
Posts: 4,031
RE: I have an invention that could revolutionize bow hunting
ORIGINAL: davidmil
...I've figured out he's come up with a way for me to point my finger and say... "I gotcha". Yes SIR.... sign me up. I may take two so I can use BOTH pointing fingers.
...I've figured out he's come up with a way for me to point my finger and say... "I gotcha". Yes SIR.... sign me up. I may take two so I can use BOTH pointing fingers.
LMAO!!!!
