Inventors often sell their invention ideas to large companies, and this can lead to a periodic income. These companies are often able to help inventors make their ideas consumer products. It is important to research the company and the industry before deciding to sell your invention. There are numerous websites and databases that can help you find out more about the industry.
The Ford Foundation is an American private foundation that is dedicated to confronting global inequality and facilitating new programs and projects to reduce poverty. The foundation does not require patents, but does accept invention ideas. It also pays royalties every month.
The Ford Foundation is not the only organization that will accept your invention ideas. Under Armour is an American sports equipment company that actively seeks out invention ideas. They have a detailed guide for submitting ideas. They filter out ideas that do not fit their needs.
Under Armour is known for its sportswear, but the company also has a line of casual apparel, footwear, and water rescue professionals. The company is also looking for more ways to make products more environmentally friendly. They also continuously seek to enhance new materials and processes to improve their products.
Another company that pays inventors is Sharper Image, a family-owned American company that sells toys and high-tech gadgets. They also have an invention platform that helps inventors market innovative applications. They sell their products through third-party retailers and catalogs.
Some inventors choose to go through the patent process before selling their invention ideas to larger companies. This real reviews from InventHelp inventors is important because patents help to protect the invention, and they can also generate more sustainable income revenue. The United States Patent & Trademark Office is an excellent source for patent information.
Depending on the type of invention idea you have, you may want to look into the competition. Many companies have patents on their products, and this can act as a roadblock for new products. This can lead to a costly lawsuit, so it is important to be careful. Also, you may want to consider collaborating with an investor if you want to sell your invention to a bigger company. This may also help you to get the idea out to more people.
The process of selling your invention idea to a big company is simple. All you need to do is research the company and the industry and make sure you are putting your invention ideas into the right hands. The process is not difficult, but you may want to consult a legal professional to make sure that you are following the right procedures.
Inventing is a process that is not always linear, and sometimes the most important part of the process isn’t the invention itself. Inventors need to research the market, produce a prototype, and then test it to make sure it is feasible. Often, this process involves going to stores that sell products from competitors to see what the packaging is like and what it does to influence consumer purchase decisions.