By STEVE HART
Having an original idea or product is fine so long as you can protect it from being copied by other people and sell it at a profit.
Thinking up new ideas is not easy, but a lot has happened since the director of the United States patent office resigned in 1875 saying his department should be closed because there was nothing left to invent.
If you have an idea for a new product languishing in the back of your mind, but do not know the best way forward, then a new book might be the catalyst you need.
The Inventor's Guide to Success has been endorsed by a bank of people such as Stephen Tindall (The Warehouse) and Saatchi & Saatchi chief executive Kevin Roberts.
In a light-hearted, but business-like fashion, the book - produced by Hamilton-based James & Wells, patent attorneys - gives all would-be inventor the information they need to protect their idea from being used (without permission), arrange finance, market and sell it.
Kate Wilson, of James & Wells, explains why intellectual property rights need to be defined. Owners of real estate, she says, know when someone has trespassed because the boundaries are clearly defined.
But the ownership and boundaries of intellectual property are harder to define. With your idea or product patented, you can protect yourself from competition and sell at a premium to recover R&D costs.
"Don't blab" is the golden rule if you think you have an original idea. The book explains that keeping your idea secret is crucial, but also advises on how to share information and protect your idea at the same time.
After you have protected your idea , you need to promote its virtues, perhaps arrange funding and deliver it to the local or foreign markets.
The book helps out here, too, with a list of organisations that can help, and chapters on writing a business plan, developing prototypes, raising finance, manufacturing, and advertising and public relations.
All in all, the book is a sound investment for the amateur and professional inventor.
Right tracks for keen inventors
AdvertisementAdvertise with NZME.