If you have an invention idea, the next step is to research it. There are several ways to do this. For example, you can conduct a feasibility study or research existing products. Or, you can develop a new product based on an existing idea. Then, you can file a patent for your idea.

Companies that accept invention ideas

If you have an idea for a product or service, you can get paid for it with a company like new invention idea City. They will evaluate your idea and if they like it, they will offer you a license deal to make money from your idea for years to come. All you need to do is pay the company $95 and they will let you know whether your idea is approved or not.

Some companies that accept invention ideas include Hasbro, which is a global play company that makes products such as Monopoly and Scrabble. You can submit your idea for a new toy or game on their website. However, you must be at least eighteen years old to apply. You should also submit a description of your product, its intended target market, and a photo.

Steps to filing for a patent

The first step in filing for a patent for an invention idea is to document the idea. Make sure to describe the idea in detail, and you can do this with hand drawings and bullet point documents. Make sure to date these documents and carefully track your progress. The USPTO takes up to a year to process your application, so it is important to keep track of everything.

After you've completed the detailed drawings and have built a prototype, you can begin the patent process. It's important to include every detail of your invention, so that the government can properly evaluate whether your idea is unique.

Feasibility studies

The process of conducting a feasibility study for an new invention ideas includes identifying the technology needed, researching the market, and describing the marketing strategy. It will also include the project's schedule, cost, and human capital requirements. Finally, the study will outline the business structure and management team. It will also outline the key people who will be involved in the project. There are several different ways to create a feasibility study.

In addition to identifying the market, feasibility studies can also help identify potential barriers to market entry. For example, existing market leaders may block access to certain distribution channels, preventing new products from reaching their target audience. Existing businesses may also be able to license or sell the technology that is required to launch the new product. Ultimately, the purpose of a feasibility study is to ensure that a product or business is viable and worth pursuing.

Making a prototype

Making a prototype for your invention idea is a key step toward commercializing it. It allows you to test and tweak your product before you commit to manufacturing it. It also helps you to determine if your invention has potential marketability. If it is a product that requires electronics, moving parts, or special materials, you may need several prototypes. Without thorough testing, your product could end up malfunctioning. In addition, a prototype improves your product's manufacturability and user experience.

There are two main types of prototypes. First, there is the wireframe prototype. This type of prototype is more basic and will not resemble the finished product. It will not have a cover or any branding. It will be a stripped down version of what your invention will eventually look like.