Invention idea.. what do I do?

[unicorn]

Ok anyone out there ever invented anything?
Just wondering what to do with an idea (that was realised during my drunken Barcelona trip with a pal!)
How do you go about patenting/ getting prototype made up and selling it etc?
In short how do I become a super successful businesswoman (who can retire with millions rolling in?!!!)

must be some mumsnet entrepreneurs out there?

Had a quick scout and came up with This site seemed quite informative.

PS - Do I now get a cut for putting you onto something

You should patent the idea first, before anyone nicks it!! see the official government patent website (can't get the link to work) look up www.patent.gov.uk/patent/ for info

thanks furball, lmb.. drinks all round if idea ever gets anywhere!

Be warned - patents can take ages. DH patents things and it's very rare for anything to go through in less than 5 years.

Lunarsea Oh blimey!
So can the idea still be nicked prior to patent then?
What has he "invented" + has he made a bob or two?

5 years, bl@@dy hell!! Unicorn, if your product has a unique name,you could register it as a trademark takes 3-6 months and costs about £200. Doesn't protect the product, but the use of its' brand name

I think the key is to get the application in though-once thats in, no one else can patent their version-in theory!
Design stage is the expensive bit, generally you need a design company because they know about moulding/plastics etc, they charge a fortune, muck about with your product then you get them to change it again because your original version was better. Then get prototypes made-by design company, again expensive.
Talking about £20,00 to get to production (obv. depending on your "thing" This is from expoerience with one large moulded item (booster seat size) and one small electrical item (not including design of internal stuff-just case!)

ooo just had a thought ... I often see things that say "patent pending" or similar, does this protect the product?

Miggy was that 20,000??????

patent pending means that they've applied for a patent for it, but it hadn't been granted by the time the product was made. It's an - "oy you can't just nick this design unless you want to pay us for it" warning to anyone who wants to make a rip-off version. DH's patents aren't that exciting - more ideas and designs than actual "things" to be honest - they're new ways of doing things with telecoms systems.

If you have a reallllly good idea, draw up a business plan and go and see your nearest office of Business Link, you can get funding depending on the type of product, they also sometimes run local workshop-type courses on starting your own business, plus their website has loads of info www.businesslink.gov.uk

lmb.. how do you draw up a business plan? does everything have to be exact/specific etc.... i'm really just at the idea stage...

initial business plans don't have to be exact in terms of financial projections ... although a bank will want to know this if you wanted a business loan/overdraft facility for business use IYSWIM. You need to take your basic idea and think about what makes your idea unique, how you intend on marketing it, who your target audience are, how and where will it sell, those sort of questions. Does this help to start with?

here, I got this from msn money thingy
Six steps to a winning business plan

Most small business owners dread the business planning process, but a good business plan can spell the difference between success and failure for your company

Here are six key items your business plan must include. This article is provided by bCentral. Its website has all the information you'll need to start and run your own buisness.

1. Executive summary

A two-page overview of your business concept, who you are, and why you are the right person or team of people to launch this particular business. Most people will only have time to read the summary, so make it great.

2. A short description of the business opportunity

What exactly do you plan to sell or offer and why? Why start this particular business right now? What is your motivation?

3. The audience for your goods or services

Explain exactly why you think people will buy what you want to sell. How many potential customers are there? Where do they live? What are they buying now?

4. Your competition

Competition is fierce, especially with the low cost of doing business online. Very few companies will succeed and flourish. Tell folks why you think you can beat the competition and how you plan to do it.

5. Your management team

Outline your credentials and describe the people you plan to hire to work with you. A strong management team is critical to business success.

6. Your marketing strategy

If you get this off the ground, how will you market the product or service? Be as specific as possible.

If possible, try to read a business plan written by a friend or colleague. You have a lot of hard work ahead of you, but it will be well worth the effort when your company takes off.

HTH lmb

Cheers lmb it gives me a definate pointer in the right direction.
I often read about these mums who have come up with simple ideas etc and made their fortune and wonder how they have done it... having said that many of them seem to have been in the financial sector (probably had big bonuses etc) so know how to play the game as it were.