The Ultimate Inventor’s Handbook page 202
SUGGESTIONS FOR INVENTORS
• Keep a bound inventor’s journal
• Don’t disclose your invention until your patent is applied for
• Go meet your local SBDC consultant
• Join an inventor’s organization
• Set “SMART” goals
• Write a business plan
• Conduct a patent search
• Don’t accept inadequate financing
• Get help where you need it
• Get all the free advertising you can
• Don’t delay – time is of the essence
• Beat your competitors in the marketplace
• Go to a patent depository in your state
• Make sure all deals are beneficial for both parties
• Understand the importance of effective marketing
• Prepare a creative brief
• Study the distribution channels available to you
• Use public-relations (PR) whenever possible
• Find others who can fill in for your weaknesses
• Think of your invention as a business
• Calculate the present value of your invention business
• Use your financial statements
• Take steps to increase the value of your invention
• Get all the intellectual property protection you can get
• License your invention to another company if you can
• Reasearch your potential licensee before contacting them
• Use equity financing when you can
• Remember that the consumer is the King
• Frequency is more important than reach
• Conduct more market research
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