New or old to the invention process, learning how to take your invention from concept to completion is essential in creating something that is successful in the commercial market. With the millions of new inventions hitting the market every year, it is important to know how to create something that can stand out amongst the crowd. This is where the Clemson University Research Foundation steps in! Check out our top five tips on how to succesfully take your invention from the lab to the market!
1. Do your research and document your ideas & findings
Research often leads to innovative inventions and discoveries. Make sure to document all your findings. Documenting your findings is essential in showcasing how your invention works, it’s benefits, and how it can transform the market it will potentially be entering.
2. Submit an Invention Disclosure and protect your invention
It is important to make sure your innovation is protected through patenting. Patent protection, a common legal protection method, begins with the filing of a patent application with the U.S. Patent and Trademark Office and, when appropriate, foreign patent offices. Getting your invention patented is a necessary step towards getting your concept to the market.
3. Market your invention
Once your invention is patented, it is time to market it! The Clemson University Research Foundation can help you identity companies that have the expertise, resources and business networks to bring the technology to market.
4. Get your invention licensed
A license agreement is a contract in which rights to a technology are licensed to a third party, without relinquishing ownership, for financial and other benefits. This agreement may be required when marketing your technology to a specific company.
5. Introduce your invention to the market
After getting your invention licensed, it can now be developed and introduced into the market. During this process, the licensee continues the advancement of technology and makes other business investments to develop the product or service. This is the most important step because it allows the invention to finally be brought to life. While this process may be hard work, the results are more than rewarding!