1. If I am interested in starting product development for my ideas, what are the first general steps I need to take?
It is important to begin with a company that has expertise in both the engineering and design aspects of product development. In addition, it is important that the company utilizes economical methods of production and assembly, and be knowledgeable in manufacturing techniques.
2. What are the expected expenses with product development?
The development of a product does not have a set cost and is variable based upon the idea presented. Costs can range between a few thousand dollars up to considerably more. This can be determined through consultation.
3. Is it a requirement to conduct a patent search?
Based on our expertise, we recommend having a defined product including a working model, good drawings or basic design details, before conducting a patent search. A specified model allows for time efficiency in the conducted search, and for the search to be more defined and specific.
4. What steps can I take to protect myself in the process of obtaining a patent?
The United States Patent and Trademark office has a registration process offered to register an idea of a project. Once registered, it is secured for one year. During the one year time period, a patent applied for will be provided protection, and, once issued, protection lasts for 20 years. The details of applying for a patent can be found at http://www.uspto.gov/patents/process/file/index.jsp.
5. What is the process involved in getting a working model?
When beginning the process of product development, a prototype is developed, which is a handmade working model that appears and functions in the manner it would as if it were manufactured by production techniques. The prototype stands as a clear representation of the design being transformed into working hardware.
6. Does your company help in the marketing department of my product?
The marketing of a product should be handled by a professional marketing firm that has expertise in undertaking the advertisement of newly developed products. While our company can assist in providing the product and information, a professional marketing firm is highly recommended. It is important that all services received are of the upmost quality
7. Is it better for me to manufacture my product myself, or to get it licensed?
Licensing a product, and manufacturing it, are both considered to be successful ways to bring a product to the market. When handling simple products, the inventor can have the product manufactured, and approach marketing through his own resources. When it comes to actual sales, the easiest option would be to sell the product to a larger company, which is active in that area of the market. An additional technique to be considered is to contact a large manufacturing firm that is relative to licensing the product. When approaching this type of firm, it is key to be prepared with all the essential information, including the cost of manufacture, pro forma advertising literature, sources of raw material, and information on market growth potential.
8. How can I fund the process of product development and move forward?
When beginning the process of product development, costs can seem significant, but it is when the product reaches the market and starts selling that revenues begin to generate and diminish the cost of production based on the profit that is received. If funds are tight, an approach that can be taken to working with this is having the development of the product divided into phases. Typically, the first phase would be called the concept development phase in which ideas are put together to form a concrete final idea. The second phase would be considered the design phase. Following this phase is the prototype phase, in which a prototype comes into the making. It is after this phase that production drawings and specifications would be completed, and vendors should be contacted to obtain costs for tooling and manufacturing. Once all these steps are completed, you would be ready to go into production, or you would contact other firms in regards to licensing. Dividing production into all these steps allows for funds to be disbursed over a greater period of time in comparison to all at once.
9. I am interested in going ahead with your company. What is the first move needed to be taken?
If you decide to go ahead and begin product development, contact us with a brief description of your idea and any related material. We will then arrange for a meeting in which we can discuss the idea, and how to push for it to be introduced to the market. The first consultation is free. Call us at (818) 481-7178 or email us at info@EmcCreations.com. We will be more than happy to help bring forth your idea to the world and to provide you with our expert services.