AIBU to really truly believe that my invention could likely be a success...

[maytheforcebewithme]

but I don't know where to start.

Trademarking/Copyrighting
Business plan and arrange finance
Focus group
Product design
Prototype manufacturer

Reads like an episode of the Apprentice. I had the idea 2 years ago but parked it because I was living overseas and it was too much/complex at the time. It involves manufacturing. Probably from silicone, plastic or rubber

I've not thought about it a massive amount since but it's literally been keeping me awake for the last two hours. I need to give it a fair go.

I am not at all creative. I do have a logo designed by a friend/digital designer who created my other website (little service/cottage business that barely ticks over but brings in a couple of grand a year profit).

Am I bonkers? I believe it could be really successful. There is nothing quite like it and I can see it on the shelves of Mamas and Pappas and JLP. Perhaps IKEA would even buy me out before it gets that far lol. Or have I just been reading about Michelle Mone too much lately...

Have read horror stories of people trying production in China and though the costs are cheaper you are at risk of ruining the brand before you even started. I think the capsule shirt guy said it almost cost him his business.

Could you 3D print the things? and get them on not on high street/amazon etc

Also factor in the cost of safety testing- about 700 pounds. My product is silicone and needs EN71, phthalates and other chemical composition for each different coloured component. Business insurance is only about £60 per year.

Thanks for that. Eggy well done for figuring all that out. Would you PM me what your product is please? Actually one of the things that appeals to me is the whole process. I think because I'm doing this Business Degree and it's all relevant. (We're currently doing law and finance, next up is marketing). So I totally get what you mean about the finance side of it - just last week we were learning the various ways to work out costings and prices etc.

I want to run my own business. I want to be involved in it all (I think lol).

I will look at effectualsourcing. "Made in England" would fit the product/brand and my target market well I think.

I am just looking into patenting. Did you use a lawyer? This is the advice the overseas lawyer gave me and I am still not sure if I need to get a patent. I spoke to one of the design companies mentioned up thread earlier (having both signed an NDA) and he seemed to think I might not be able to patent this; that I only need design protection. I know that on Dragon's Den and such like they make you feel a complete idiot if you don't have one, but this lawyer had a different view:-

"As we discussed patent are expensive, and the process should not be undertaken lightly. They only make sense if the benefit outweighs the cost. Investors are more likely to be interested if you have a patent, but the value of this is subjective and unquantifiable.

If you divulge the information now (before a patent is filed) then there is no point in filing a patent later; because it will be invalid.

If an inventor was able to do all of the functions of an entrepreneur herself then in a lot of cases patents won't make much sense. Patents are more useful for situations where the inventor needs protection from people who "help" them(investor, designer, manufacturers etc) over and above contractual rights, and/or where the marketplace requires it.

Once you have done calculations about potential market size, realistic market share, and realistic profit margins it will be fairly obvious whether patents are worth it or not. Think about whether competitors in similar markets have patents for their products - learn from them".

I don't know - I believe in my product very much but having just got back on our feet financially after moving about a bit I don't want to risk ending up in debt. There are those who say you must believe in your offering 100% and go for it, but there's being sensible too. I will look into investment and see if I can apply for some pre-patent?

I can give you the details of someone who's business is to help inventors start off their projects- checking patents, product searches, making prototypes and so on. I'm not involved in the business so don't know how much it costs, but it sounds like the sort of thing that might help here. Won't give details here of course, but do PM if interested and I can give you the website link. I have my previous posts visible, so you can check I'm a genuine poster and not just advertising!

Believe in your gut instinct, but you need to be sure that the product will be commercially viable.

To do, sort of in order:

1. Get an NDA signed for anyone you disclose details or idea to.

1. Find product designer / product design company that can draw up designs / do CADs.

1. Find a few UK based sourcing companies that deal with Chinese factories. Never go direct to factory, even though it may be tempting as prices will be

cheaper. Get costings from each one and go and visit them to get a feel for how they work.

1. Think about how you will sell it - you will of course get more profit per unit if you sell from your won website, but you won't get as many sales. Selling through a retailer could be good but often the large ones don't like to take a single product. You may need to use a distributor - they take more of a cut but will get you into retailers and you will have a wider coverage.

1. Look at crowdfunding - to raise cash - Kickstarter / indigogo.

1. Is the product purely rubber / silicone / plastic or are there any electronics - if there's no electronics I would also advise getting costings from UK factories -they may be more expensive to start but will poss do smaller quantities. Unlikely China will produce small quantities (less than 2000 units).

Also ask for costs for tooling - you will need steel tooling for any silicone / plastics product and it is very very very expensive, depending on the complexity and size of your product. Could be anything from US$5000 for a small simple product upwards to $50,000 and beyond!!!

1. NDAs should do the trick re confidentiality until you start to see buyers / retailers / distributors. Then you can think about applying for a patent. People do apply for patents themselves, but it is strongly advised against. Patent lawyers know their stuff and if you were ever in a position to have to defend it, you would not stand a chance if you had filed it yourself. Saying that not all products are patentable. A good patent lawyer will be honest if this is the case as you could waste a huge amount of money if the patent is not watertight. If its not patentable you can still register the design and trademark etc.

1. Focus groups etc

These can be expensive and its a very small sample of people. If it's a baby product then ask friends (get them to sign NDAs) but be aware they may not be honest if they know you and think its not a good idea!! A good product design company will give you a valid opinion - especially some companies base their fees on a % royalty so they will not take on any dodgy projects!

1. Do not underestimate the time and money it will take!

1. Look at Inventing for Dummies, or any of that series of books - very helpful.

10. Get a grant - look at MAS (Manufacturing Advisory Service)

11. Get a mentor - lots of services available - approach your local council for schemes.

Good Luck!

Have pm'd you op, and also silverdragonfly1 by accident because I can't RTFT!!!! ;-)

Re: the patents, I couldn't patent mine and costs of registering my designs was mega- outweighed the cost of being ripped off. Plus they only have to make 3 changes to design to render the protection void. I wouldn't have the finances to fight a bigger company, I would have to rollover so am going it alone and praying people buy into my brand rather than the copycat (although no one has copied me yet!)

That's another point the lawyer made eggy - the number of people likely to copy your idea are far far less than you think.

I am so impressed with your product! Wow.

:-) thank you!!

Contact the Patents Office in London and arrange a visit to their office. You can search their database to see if the idea/invention has already been patented or whether an application has already been made to patent it or something similar.