Market chance of patented inventions...

  • 06/10/2010 5:40 PM
    Message # 357199
    Anonymous
    Fellow inventors,

    I just came across an interesting story about the average market chance of inventions, entitled "From Countertop to QVC: A Long (and Expensive) Road for Inventors".  The story is here:

        http://www.nytimes.com/2006/05/25/business/25sbiz.html

    According to the story, the United Inventors Association says that "recent studies indicate that only 4 percent to 5 percent of patented inventions ever make it into the marketplace".  That's 5 percent of PATENTED inventions!  

    At first, I thought this was disheartening.  BUt then I realized that this is a statistic, and that any individual case can always do something to move away from the statistical mean, so to speak.  So I am taking this as a call to action, to spend more energy on getting my invention to the marketplace.  With this in mind, the open seminar tomorrow night "Market Research:..." should be interesting but I will be aware that research alone will never get a product to market.

    See you there.

    Cheers,

    Rudy
  • 06/14/2010 8:42 AM
    Reply # 358598 on 357199
    I think the reason the success rate is low is because most inventors don't have enough cash to get their ideas off the ground or they are intrinsically not good at marketing their ideas. Due to the high labor and manufacturing costs in this country compared to China, you have to be a millionaire to even get a good prototype made! Whereas in China you can go next door to a plastic factory, just spend a few hundred bucks, then your product is ready for the marketplace. In this country there are just too many environmental, manufacturing, local standards, and other governmental restrictions that prevents a middle class person from taking the next step after spending all his hard earned money on the patenting phase. So most of the patents become idled and therefore they languish in the patents abyss because the concept cannot be tested in the marketplace. For a product to attain success the consumers must have a chance to use it and the feedback can be used to improve or redesign the product. Obviously these things cost bucko money but sadly inventors are not adept at raising capital and our government is of no help either.
  • 06/15/2010 1:24 PM
    Reply # 359417 on 358598
    Anonymous
    Irving Almagro wrote:I think the reason the success rate is low is because most inventors don't have enough cash to get their ideas off the ground ...

    I just came across www.seedcapital.com, which might be interesting for people needing initial start-up cash.  Let me know if anyone uses them... I can't vouch for them yet, obviously.

    --Kevin Prince

 

 

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