Re: How to get started with a new idea

From: Bob Serling <bserling_at_cts.com>
Date: Mon 03 Dec 2001 10:32:12 -0500

As a long time product developer (both business and
consumer products) who just created a software
product, licensed it out, and sold the company for
$6.2 million, there are a number of points where
you could be potentially harming your future
opportunities, Daniel.

First, you haven't indicated that you've protected
your product through all available avenues of
copyrights, trademarks, and patents. If you haven't
already done this, it's impertative that you start
now, particularly with the patent process. There's
a free issue of my ezine that can help you with this.
The issue is called "How to Protect Your Product
Ideas" and you can read it or print it out at
http://www.product-lab.com/article1.html

Second, unless you have non-disclosure documents
signed by all those who are beta testing your product,
you should halt beta testing until you get these
documents signed. Without them, you seriously
jeopordize your chances for getting patent protection.

Finally, the topic of how to start is far too complex
to be covered in a thread like this. You need to
fully understand protecting your idea, the benefits
of licensing versus selling it outright to a company,
how to properly present your product, and how to
negotiate a deal that's mutually beneficial to you
and the buyer. So let me recommend two resources for
you. The first is a book, "How to License Your Million
Dollar Idea" by Harvey Reese. It's available at most
bookstores.

The second, which I obviously have an interest in, is
my own e-book, "How to Make a Small Fortune with Your
Big Idea". You can get all the details on this at
http://www.product-lab.com/bigidea.html

I hope this helps!

Bob Serling, President
ProductLab, Inc.

Our FREE ezine helps you do more business
- even in tough economic times
http://www.ProductDevelopmentHotline.com







Received on Mon Dec 03 2001 - 09:32:12 CST