Device Drivers
How do I sell my idea? I don't want to produce it, I just want to sell it
3
Answers
🌎Harvard Certified Global Corporate Trainer🌍
Here are some options for selling your idea without producing it yourself:
Pitch your idea to companies directly. Prepare a thorough pitch deck outlining the idea, market potential, competitive landscape, etc. Look for companies in related industries that may be interested. Be prepared to sign an NDA before sharing details.
Work with an invention promotion company. These companies evaluate ideas and help connect inventors with potential buyers. They typically take a percentage of licensing and sales revenues. Research companies thoroughly to find one with a strong track record.
Submit your idea to new product databases or contests run by large corporations. Some companies scour these sources, looking for new ideas to develop internally. Do thorough research on submission guidelines and intellectual property terms.
Consider a provisional patent application to strengthen your idea's protection if pursuing the above routes. This establishes an early filing date and allows for presenting the idea as patent-pending.
Consider crowdfunding your idea on a site like Kickstarter or Indiegogo. Use the campaign to gauge interest, gather feedback, and potentially find partners interested in licensing or developing it further.
As a last resort, disclose your idea publicly without protection. This risks being copied, but it may attract interest from buyers willing to compensate you for the idea. Only do this with simple, easy-to-implement ideas.
The key is properly researching partners, having ironclad NDAs in place before disclosure, and establishing the strongest protection possible given your resources and goals. An experienced patent agent or lawyer can help you navigate your best options.
Answered 10 months ago
CS Manager with 15+ years, adept in B2C/B2B.
To sell your idea without producing it, start by protecting it legally. Then, conduct market research to understand its potential. Create a prototype or presentation to make your idea tangible. Identify potential buyers in the industry and network with them. Pitch your idea clearly, tailored to each buyer. Negotiate terms like sale price or royalties, and consider legal assistance. Document all communications and agreements. Once you reach a deal, finalize it with a legally binding contract. Persistence and patience are crucial throughout the process.
Answered 10 months ago
2X Venture Backed Startup Founder
I'd love to understand more about the product and the intended customer or the solution it solves. Finding producers for various products or even testing or selling MVPs will vary greatly depending on the product and the market / fit / customer. Do you have any customers lined up for this product yet? Or rephrased, why do you want to sell this product - is the opportunity driving this - as in someone wants to pay you for the product already? Let's hop on a call and chat through what you are trying to build!
Answered 9 months ago