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Prototype Usefulness For Licensing

1. The document discusses the process of developing an invention from prototyping to patenting and commercialization. It emphasizes the importance of prototyping to test functionality, refine the design, and encourage others to take the invention seriously. 2. Key steps include documenting the idea, researching patentability and market potential, creating prototypes, filing for patents, producing the invention, and advertising to manufacturers and consumers. 3. Considerations like production feasibility, timelines, and meeting market demand are discussed to successfully commercialize the invention.

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Mari An Darasin Daguinod
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238 views3 pages

Prototype Usefulness For Licensing

1. The document discusses the process of developing an invention from prototyping to patenting and commercialization. It emphasizes the importance of prototyping to test functionality, refine the design, and encourage others to take the invention seriously. 2. Key steps include documenting the idea, researching patentability and market potential, creating prototypes, filing for patents, producing the invention, and advertising to manufacturers and consumers. 3. Considerations like production feasibility, timelines, and meeting market demand are discussed to successfully commercialize the invention.

Uploaded by

Mari An Darasin Daguinod
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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LESSON 4. 1.

2 CREATE A PROTOTYPE OF T/HE PRODUCT TO ESTABLISH SALES


GROWTH
The prototype can help add value to a project as well as credibility. In some
instances, the company will have to innovate to be ready to prove that the concept
works which the theoretical design translates into a working model.
Prototype Usefulness for Licensing
Prototype development isn't essential but can add value to a project. This is often
particularly the case if the company needs to prove that the concepts work. The
prototype would be equal to demonstrate the basic fundamentals of the idea. Some
people may choose a more refined prototype to strengthen their presentation, but the
associated cost of those needs should be weighed up against other factors. Sometimes,
a prototype may help negotiate a better percentage of royalties.
Step 1. Document It
This is the first step to patenting the idea and keeping it from being stolen. Write
the idea down in an inventor’s journal and have it signed by a witness.
Step 2. Research It
The company will need to research the idea from a legal and business standpoint.
Before to file a patent, one should:
• Complete an initial patent search. Visit the website to ensure the requirement
for patenting, complete a rudimentary search for free at www.ipophil.gov.ph to make
sure no one else has patented the idea. One should also complete a non-patent “prior
art” search.
• Research your market. Do some preliminary research of the target market. Is
this something people will actually buy? One can determine these costs by comparing
those of similar products currently on the market. This will also help size up the
competition.
Step 3. Make a Prototype
A prototype is a model of the invention that puts into practice all the things that
were written in the inventor’s journal. This will demonstrate the design of the invention
that will be presented to the potential lenders and licensees.
Here are some general rules of thumb when prototyping invention:
1. Begin with a drawing, sketch out all of the ideas into inventor’s journal.
2. Create a concept mock up out of any material that will allow one to create a 3-
D model of the design.
3. Create a full-working model of the idea; consider using a computer-animated
virtual prototype.
Step 4. File a Patent
There are two main patents to choose from:
1. Utility patent (for new processes or machines)
2. Design patent (for manufacturing new, non-obvious ornamental designs). If the
invention is really valuable, someone will infringe on it.
Advantages of Prototype
1. It tests and refines the functionality of the design.
2. It makes it possible to test the performance of various materials.
3. It will help you describe your product more effectively.
4. It will encourage others to take it more seriously.

Brainstorm Ideas
1. Try making a list of all the things that are interesting. These might be hobbies,
jobs, or products that used on a daily basis.
2. For every activity or item of interest, make a listing of possible improvements
that might be made within the form of an invention. This might include variations of the
merchandise or product or activity or useful add-ons.
3. Make a hefty list. It's better to have too many ideas than too few, so continue
listing until nothing else to feature.
4. Keep a journal at all times, to constantly add new items to possible invention
list. Keeping ideas all organized in one place, a journal, also will help to stay mentally
clutter-free and permit reviewing ideas.
5. Don't rush the brainstorming process. Inspiration might not hit one like
lightning and will require some weeks or months of listing ideas before epiphany strikes.
Patenting
Create a radical record of the invention.
1. Record the method of inventing the merchandise or product. • List all the items that
require to make it, all the possible parts and materials for the invention.
2. Keep records of the research showing that no similar patented products with the
same market? Prove that invention is exclusive so as to qualify for a patent.
3. Consider the commercial sales value of the invention. Make sure you have recorded
the commercial value and potential income based on sales of the invention. This way,
one will know that the earning potential of the merchandise or product outweighs the
quantity paid.
4. Create an off-the cut drawing of the invention. An accurate drawing of the invention
could be required in the application.
Making Invention a Reality
1. Create a prototype.
2. Create a presentation.
3. Present an invention to a manufacturer.
4. Produce your invention.
5. Advertise your invention.
Production Feasibility and Time Frame
An idea isn't only targeting one entrepreneur. The entrepreneur may need to
conceive an idea that's also within the mind of the other person. The case of mobile
phones may be a concrete example. Many companies tried the venture, but the leader
in the industry continues to be NOKIA. Others begin to follow and robust competition
emerged within the process but the leading brand has begun off the ground before
others followed tailing behind.
The new product must have its technical feasibility and also the time to launch
the merchandise or product must be immediately done to require ahead before others
take the concept. The entrepreneur must analyse the market demand and the way he
will be ready to meet this demand on time. He must be ready to determine the risk
involved within the new venture and therefore the investments in terms of cash and
time.
The new product needs testing on its technical capability to satisfy customers’
needs and wants. Some customers prefer branded products, those that are produced
by big names within the industry. Filipino innovators and inventors find it difficult to
convince the local consumers that their product is better than those imported, hence
many are selling their idea to foreign investors.
In the food industry, the growing fast food chain is crowded with growing senior
citizens who have money to buy yet they need not discovered their need for health
foods with less cholesterol. A good restaurant or fast food with fish and vegetables and
some wellness program may do the trick for this demographic sector. This might work
wonders in some developing urban sectors outside Metro Manila because it works
wonders in some known restaurants within the metropolis.

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