Launch an invention al mercado
Business Models to Launch an Invention to the Market
The sale of the patent is the ideal scenario for many Inventors. Inventors who achieve this goal do not do so by chance. It is essential to create a patent sales strategy, study the world patents that affect the state of your art and focus efforts in the manufacturing cycle of the prototype on the simplification of existing parts already patented by others and get the most up-to-date technology involved in the sections you intend to claim, that is, in what makes your invention different.
If you have a real intention of creating and selling the patent of an invention, we can accompany you throughout the process: Creation of the concept, manufacture of the prototype, registration of the patent and optimization of the functional prototype that opens the doors to potential buyers.
In the case of the sale of the patent, it is true that higher figures are handled at first glance. On the other hand, the charge for Royalties is another interesting option for inventors who are not willing to commercially exploit their invention.
It is a business model where the commercial process of the product as well as its industrial manufacturing, is in the hands of a business partner, who pays a small commission for units sold. This commission responds to the payment of the potential commercial distributor for the right to exploit an invention protected by a patent.
Although it is the longest career, with greater risk and need for investment for inventors, the direct sale or introduction to the market of an invention, is undoubtedly the one that could represent the highest profitability. Even so, it is one of the least chosen paths by inventors in Spain. On the other hand, the most selected by our inventor clients in Miami.
Inventors, our connection Spain – United States has allowed us to create a collaboration network between: entrepreneurs in Miami, investors from Europe, as well as Spanish inventors, which allows the achievement and implementation of projects with a high potential for profitability for all parties.
We can help you get the structure and equipment you need to launch your invention to the market.
Information to launch an invention to the market
Bringing an innovative product to market is expensive. The prices of the steps to demonstrate that it works and get it to do it in the best way, can represent an investment of between € 8,000 and € 30,000 depending on the type of product and the engineering disciplines it includes. The process of launching a product does not have to be financed only by the inventor, it is like a relay race, where, as objectives are met, strategic investors enter to reach the next milestones.
It is important to define the best way of functioning of the product. An invention can work in more and less efficient ways, these decisions have a high impact on the future profitability of the product. In Let's Prototype we have received patents, with clearly improvable technological descriptions. These subsequent changes substantially affect the patent, for this reason, before defining the product and launching the patent, it is important to build a functional prototype with the appearance of a final product that defines the most efficient technologies and ways to make it work while being profitable to manufacture it. That iteration cycle allows you to learn enough about the invention to make it a competitive product.
Once you are clear about the problem to be solved or the improvements you want to apply to an existing product, it is important to design and manufacture a functional prototype The prototype manufacturing cycle is a process where the technical arguments and economic viability of the product are taken into account to achieve a balance that allows obtaining a different invention, efficient, technically and economically viable. The result of this process will allow to obtain the details and appropriate information to patent the invention.
The factories are responsible for reproducing a product in large series. It is important to give them the functional prototype so that they have a clear guide of what the final product will be. The technical documentation necessary to replicate the invention is also delivered. It is important not to manufacture the functional prototype with an industry, especially because far from ensuring the economic viability of the invention, they will guarantee that it can be manufactured with the machinery they have available. For that reason, there are invention manufacturing laboratories like us, we look after your interests as an inventor.
Once you have the prototype and the patent, it is possible to approach leading brands in the industry or sector you want to address. Due to Let's Prototype's own professional footprint manufacturing prototypes for different industries, we can help you on the way to approaching potential inventors. We know how they think, what they prioritize and what their strategies are. In addition to turning your invention into reality, we can bring it closer to the priorities of leading brands in different industries.
The inventions we receive in Let's Prototype are very varied. In the case of the simplest inventions or those that are related to technologies that are part of our day to day, we propose the manufacture of the inventor so that the functional prototype itself is the sample of functionality of the invention. In other cases, such as prototypes related to power generation, we opt for the development of feasibility studies and basic engineering projects. In these studies we propose realistic scenarios in laboratory mathematics programs to simulate their existence and validate with quantitative data that the invention works. With the resulting documentation, in addition to obtaining data that proves the operation, you can attract financing for the subsequent step. The manufacture of the invention.
4 Steps to launch an invention to the market
It is about identifying the needs of the customers that you intend to cover with your product. Demonstrate that the improvements you propose mean comfort or efficiency for your customers. Want to check it out now?
You have to prove that your invention works. The process of designing and manufacturing the prototype will bring you closer to an almost industrializable version. It is essential that you can take the next steps. The prototype makes the difference between meaningful and non-sense projects.
Protect what you invent. Once it is demonstrated through a working prototype that your idea works, we can patent your invention with the protection instrument that best fits. If you do it before the manufacture of the prototype, your patent will lose details that are relevant so that no one copies the product you will launch on the market.
We will help you choose and implement your business model. Whether you want to assign part of the commercial exploitation rights of your patent to a potential distributor or leading brand in the industry, or if you want to sell your patent to a third party or sell your product directly, we can help you. With our commercial team in Madrid and the United States we can work hand in hand to take the first steps.