How to Protect an Invention When Pitching It
It is very important to pitch your invention in the right order to find an investor even if you are sure your amazing creation will be successful and make lots of money. A number of new inventors are cautious as they fear that prospective investors will steal their inventions. As a result of this, begin preparing your pitch when you get to know these steps to reduce the risk and protect your creation. You can do this by withholding crucial information about the invention in order to safeguard it and avoid someone stealing it from you in the shape of a distributor or manufacturer.
Instructions
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1
Carry out the patent search
Do a preparatory patent research with a close by Patent and Trademark Depository Library or at the United States Patent Trademark Office. This is because a person might have applied for a patent for the exact creation. On the other hand, keep an inventor’s diary to note down the progress in your invention. Write down all the details about your invention. Think about recording your work on video and mark it with a date stamp along the way. This will help you keep track of the things in the long run. -
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How to protect your invention?
Be aware that you can transfer your creation from the idea level to actual before having to fill out the patent form. Filing prematurely usually results in less concentration in your patent, which makes it difficult to sue an investor for patent infringement. A provisional patent application helps safeguard your product by putting something on file while you do your home work on feasibility reports and pitching your creation. Try to organise an outside market feasibility study to find out whether there is a strong market for your invention or not. Get in touch with inventor’s group about well known companies that carry out feasibility studies or seek help of university students. -
3
Get the investors to sign an agreement
Urge prospective investors to sign a non-disclosure agreement, which says that they will protect your details about the invention to themselves and will not market it as their own creation. If a businessman or a company do not want to sign the agreement, you need to see whether you wish to risk your invention with them or take your idea elsewhere. Choosing the right business partner or sponsor is of high importance as it will determine the success of your product.
