NEVADA INVENTORS ASSOCIATION

FAQ

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Dear Mr. Pilewsky,

It is important to know if you filed a patent application or if you filed a provisional patent application. There is a big difference if you are going to disclose your invention to anyone. You did not say it was a provisional, so I assume it is a complete application. If you have a prototype it helps if you can provide photographs and drawings to the company who shows an interest in your invention. But only if you have a patent application on file, not a provisional patent application. You say you want a partner to promote and manufacture your product, but you don't want someone who wants a lot of money from you. I'm not sure I understand that. Are you saying you want someone to put money into your project, but that you don't want to participate? The patent that protects you and your product from infringers is rather expensive, but to attempt to market a product without one is very risky.

If you are not willing to pay for the costs of obtaining a patent, then you must find someone that is willing to give you money. I'm sorry, but I don't know anyone who would do that, so I cannot help you there. The usual royalty paid to an inventor, with a patented product, is around 5% of the manufacturing costs plus profit and overhead. That is assuming you can find someone willing to license your patent rights and spend their money and time to develop it. I'm sure that is what you must mean. As far as a partnership agreement rather than a licensing agreement, that would be an unusual arrangement unless it is with say a family member or close friend. Usually it is far more protection for the inventor and the manufacturer to negotiate a license agreement with the percentage of royalties paid to you included in the agreement.

There is a magazine available that may have the information you need about a company you need. The magazine is the "Inventors' Digest." It is published six times a year for $27.00. The magazine has a classified section that lists the products certain companys are seeking. The products sought after change from issue to issue. You can subscribe at 1-800-838-8808 or go to their web page at http://www.inventorsdigest.com There are also articles about marketing, and even advertisers who may help you find a market for your product.

You might also try the web page of United Inventors Association at http://www.uiausa.com where several product developers advertise. There are some good articles on that site that may help with advice. There is one other good source for locating manufacturers. When you did your patent search for your patent application, did you notice the names of the licensees on the patents that are similar to yours? The list of prior art you got with the patent search shows the patent numbers of the references cited. Those patents usually have the name of the company who accepted assignment of those patent rights. It is a good source of names of companies who are interested in cooking equipment and kitchen products. Since you have a patent application on file, you are free to contact people who might help you, unless you only have a provisional patent application, which is of no protection for disclosing your invention to strangers. But I assume you already know that. Once your patent issues, you will have a commodity you can license to a manufacturer. But my best advice at that point is never attempt to negotiate a license agreement yourself. That should always be done through an attorney who is skilled in that particular field of law -- usually a patent attorney, but not always. Ask up front.

One last piece of advice, Mr. Pilewsky, I would be cautious about contacting any 800 numbers off TV or Radio, or from the back of magazines. They may not be the ethical companies you are looking for.

Best of luck,
Don Costar,
Founder, Nevada Inventors Association

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