Got a “million dollar idea”? Turning a patent into a business…

Have you or someone you know ever had an idea for a new invention? Have you thought about getting a patent? The US Patent Office receives an average of 500,000 applications per year, so it’s safe to assume that many people are in the same boat. And as fascinating as creating something new is, the possibility of becoming rich from it may be even more exciting. But how do you get from the idea to the money?

There are television ads for companies that offer to help you get your invention made; however, these kinds of services aren’t free. Before you contact either a patent attorney or the people advertising, it’s important to realize that the patent process is not easy, is not quick, and is not cheap. More importantly, please know that having a patent is no guarantee that an invention is going to make money.

When a large company comes up with an idea for a new product, they do a great deal of market research to see who will buy it and estimate how much money they can make. This will determine how much they’re willing to invest in research and development (R&D), production, marketing, advertising, etc… or determine if they bother making it at all. Most inventors don’t have the expertise or time to do this, but this doesn’t mean they can’t get the same help.

If making money is your goal, doesn’t it make sense to run your idea past someone who can help explain how to make money off of your idea?

Brightleaf Consulting Group has been trusted by inventors to help evaluate the value of new inventions and other business ideas before they invest a great deal of money in completing development, protecting it legally, and bringing it to market. Before hiring a patent attorney to file the patent, work with Brightleaf to help you figure out what kind of return you’ll get on that investment.

- John Thrush