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A new baby-related invention (I hope). How can I make £100,000,000?

(7 Posts)
Wearytiger Tue 06-Aug-13 21:34:27

OP, if you live in London the British library do excellent workshops on intellectual property issues. Check their website.

ChippingInHopHopHop Mon 05-Aug-13 02:58:30

How brilliant - if I were you I'd take Horry's advice. It really is the way to make money from it, rather than throw money at it! been there, done that, still having to wear the t-shirt because we didn't do it that way

MrsWooster Mon 05-Aug-13 02:36:48

Thanks! That sounds fantastic.

By the way, if you talk publically (there are rules about what constitutes public, but MN definitely is, and talking about it in the pub would be) about your invention before you get your patent application in then you can't stop other people from using it. Really, say nothing substantial.

If you think it's that amazing then genuinely your best bet is to approach a company that already makes similar products (Annabel Karmel? Tommee Tippee?) under a non disclosure agreement and sell it to them.

The overheads involved in setting up production, even of a meaningful prototype, are prohibitive to 99% of the population.

The agreement means that they can't use the invention unless they buy or license it from you - and if they mysteriously come up with something similar shortly thereafter you go to court with your NDA and take every penny they make from it. Seriously.

In case you think this sounds like a stupid plan, the chap who invented the (Black & Decker) Workmate did a similar thing - invented it in his garden shed and approached various companies, one of whom famously bought it and put their name on it. I gather the deal was a small upfront fee (small to them but significant to him) and something like £1 for each one they ever sold. How many million Workmates do you reckon there are knocking about?

UnderwaterBasketWeaving Sun 04-Aug-13 15:18:22

I think you need to patent your idea: www.ipo.gov.uk/

I don't really know though.

MrsWooster Sun 04-Aug-13 15:15:27

Seriously, I have had an idea for an invention (related to weaning and that's all I am saying...) that I think could be a real goer. I am not particularly business-y or indeed practical and am short of time and money (sound great, don't I?) so how might I go about getting it made/sold/distributed if it's as good as I think it is? I am scared a company will just pinch the idea if I approach them.
Thanks in advance for any advice

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