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Product or Process? Other type of Idea?
- It is important to determine what your idea really is. Many
ideas evolve over time, and may start out as an improvement to an
existing product, and then evolve into an accessory for that product
or even a totally new but related product. Determine how your idea
is used, and what problems it solves. Determine how your idea is
a better solution than past ideas.
Prototypes and Drawings
¨C Once you have determined exactly what your idea is, it is time
to commit it to paper. It is important to document all phases in
the evolution of your idea, and an early step is to design a prototype,
either by drawing, computer aided design, or by constructing a prototype.
Can the idea be protected?
¨C After you have sketched out your idea, in drawings and in descriptive
language, it is time to determine if the idea can be protected.
If an idea can be protected, its potential value increases.
Why Protect the Idea, and How to Protect the Idea
¨C If your idea can be protected so that no one else can use it,
then it becomes something exclusive. Exclusivity yields increased
prices and allows for control. If you can protect your idea, you
can sell it or profit from it by utilizing it, whether by manufacturing
the underlying product or by licensing the process or method.
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