Can I Really Sell my Idea?
Yes; however, it is important to understand what you need to have in place to increase your odds of success. As you move your idea through the invention and patent process, your odds of success increase as your idea becomes more tangible and real.
The notion of selling or licensing an idea without any effort or development on behalf of the inventor is a misconception of many inventors. Although I believe anything is possible, it is important to be realistic about your odds of success with an idea. Many inventors believe that a company will license or buy their idea and pay a royalty, even though they have not taken the time to move the idea forward with a patent search, patent pending or any type of professional presentation, development or proposal. This is unlikely; to increase your likelihood of success, you should be prepared to move your idea forward beyond just a concept or thought.
Next, when it comes to royalties or payment received for licensing your idea, it’s vital that you have realistic expectations. Don’t expect to receive a 50/50 split on the profits from a company for licensing your idea. A company may end up spending hundreds of thousands of dollars developing, manufacturing and marketing your idea…so a 50/50 split would not be reasonable. Typically, an average royalty can range from 3-5% of net revenues received by the company for selling the product. The royalty rate is negotiable and may fluctuate based on the margin and/or sales volume of the product.
Overall, the key to selling your invention is having a good idea to start with, then taking some steps to protect and effectively present the idea to companies.
There are no guarantees…
The reality is that there are no guarantees for success. Regardless of how great your idea is there are absolutely no guarantees that your idea will ever make money. Great ideas can fail for many reasons, such as poor marketing, lack of market or scarce financial resources. Additionally, ideas that may seem less than stellar can often make millions for example, the Pet Rock or Chia Pet. The invention process can be exciting and rewarding; however, you’ll need to approach the process with realistic expectations and a willingness to do what it takes to succeed.
Lawyers in the USA
Russell Williams cofounded InventionHome.com and MatchProduct.com to assist inventors and entrepreneurs through the patent and invention development and marketing process. He's been asked nearly every invention-related question in the book, and shares his wisdom in an article series, "Inventor Q&A".
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Magnificent Chocolate Recipes:
Heavenly Chocolate Ice Cream, Fillings, and more:
Icing can be formed into shapes such as flowers and leaves using a pastry bag. A pastry bag is an often cone- or triangular-shaped, hand-held bag made from cloth, paper, or plastic that is used to pipe semi-solid foods by pressing them through a narrow opening at one end. Aside from icings and frostings, pastry bags are commonly used to shape meringue and whipped cream, and to fill doughnuts with jelly or vanilla custard. Using icing to decorate cakes is commonly used with wedding cakes, anniversary cakes and birthday cakes.
Marbled Fudge
2 cups of granulated sugar, 1/4 a cup of glucose (pure corn syrup), 1-1/2 cups of cream, 1 tablespoonful of butter, 2 squares of Baker's Chocolate, scraped fine or melted, 2 teaspoonfuls of vanilla.
Stir the sugar, glucose and cream over a slack fire until the sugar is melted; move the saucepan to a hotter part of the range and continue stirring until the mixture boils, then let boil, stirring every three or four minutes very gently, until the thermometer registers 236° F., or, till a soft ball can be formed in cold water. Remove from the fire and pour one-half of the mixture over the chocolate. Set both dishes on a cake rack, or on something that will allow the air to circulate below the dishes. When the mixture cools a little, get some one to beat one dish of the fudge; add a teaspoonful of vanilla to each dish, and beat until thick and slightly grainy, then put the mixture in a pan, lined with waxed paper, first a little of one and then of the other, to give a marbled effect. When nearly cold turn from the pan, peel off the paper and cut into cubes.
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