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How To Get Paid for Invention Ideas

Why do so many people want to become inventors? More than a love for making things, we suspect part of the reason is because they want to get paid for invention ideas that they come up with. There is really a lot of money in store for the person who comes up with a hot or the right invention idea. If a company takes an interest in it, and makes an order for thousands of units, then an inventor can really strike it rich. This is why so many people want to know what to do so that they can start getting paid for their invention ideas. Below are a few things that they, or you, should be doing:

1. Hire a patent lawyer- The way to get paid for invention ideas is to make sure that it is protected and is credited under your name. That way, if other people want to use it, they will have to pass through you. This is exactly what a patent is for- a document that will prove that the rights of an invention belong to you. The simplest way to get a patent is to hire a patent lawyer. The patent lawyer will go through the necessary steps to draw up a patent for the invention that you’ve made. One extra tip we advise is to make your patent lawyer sign a non-disclosure agreement, so that he too, doesn’t get any ideas about stealing your idea and claiming it for his own!

2. Look for investors- If you want someone to pay for your invention idea, you may have to start the search for investors early on. Investors who show interest in what you’ve invented may be willing to pay you so they can manufacture and distribute your invention idea, or even offer to buy the exclusive rights of the idea off you. If they decide to purchase the rights, do note that you will lose all right to the invention forever. However, if they just want to lease it, the license to produce an invention for a certain number of years can be granted to them, but you will still have the rights in the long run. Depending on their offer, see which option will serve you better. If the offer to buy the rights is a very big one, then it could make you very comfortable for a long time.

3. Come Up With A Solid Presentation- Oftentimes, investors won’t buy an idea outright. You’ve got to convince them that your invention is worth purchasing. To do this, you may have to impress them with an amazing presentation. You have to pull out all the stops- use graphs, charts, and even professional illustrations to really show what your invention can do. To help you come up with a foolproof presentation, you may want to consult with other experts, such as invention marketing or invention development companies.

Always remember that you can always approach companies like Idea Design Studio if you need extra help in getting your invention together. We can offer invention development, or marketing services, that are sure to add value to an overall invention idea. If you want to hear more about the things that we can do, you are more than welcome to set a meeting with us. Call our hotline if you have more questions. We are always happy to help!