If you have an idea for a new product or service, you can pursue the development of it further by working out the process of creating a prototype, a patent, or licensing it. But how do you patent or license your idea? Read on to learn the steps you need to take to ensure your idea has a solid chance of becoming a hit. After all, the process isn't over until you have a business name for your new product or service.
Research

To refine an idea for an invention, first consider what your target market wants. Often, inventions are intended to make something better, more efficient, or more convenient. Some are also environmentally friendly. Others aim to improve something by making it lighter or more compact. Aside from functionality, research on your idea should also take into account the aesthetic appeal of your product. In any case, you should research an invention idea thoroughly to ensure its success.

It is important to remember that the process of research and writing a research paper will differ from the process of creative writing. It is often more difficult to find a research topic than to come up with a topic. A research paper will be centered around a general idea or an idea. If possible, you can look up previous inventions that have similar functions. In addition, you should look for information on the popularity of your idea by checking the history of the invention.
Prototype

A prototype is a crucial step in the process of inventing a product. It allows the inventor to test and refine the idea before it is taken to a manufacturing company for further development. The prototype should work as closely as possible to the finished product, but the design of a working model does not have to be beautiful. A working prototype is a valuable source of information for the inventor, so it is imperative to get a good price quote from various prototyping companies.

Typically, a prototype is the first working version of a product, and it is a vital part of the invention development process. The prototype is an important element in marketing, pre-selling, and securing financing for the next stage. A prototype enables the inventor to test the concept before it moves into production, and it helps iron out the kinks before moving to the next step. Oftentimes, a prototype must be updated or revised, particularly if it is a complex one. The prototype must also be of high quality to minimize the need for further changes made by the manufacturer.
License

If you are considering licensing your invention idea, you have two main options. You can hire a patent attorney to help you draft a contract, or you can post your idea in an online marketplace like UpCounsel. The site accepts only the top 5 percent of attorneys and their average experience is 14 years. Many have experience working with companies such as Google, Menlo Ventures, Airbnb, and others. Listed below are some steps to take to get started.

First, you must find the right people to review your idea and provide financial support. Once you have a team of reviewers and the funding to develop your invention, you can then license usage rights or sell your patent. You can also permanently assign your patent to another company in exchange for cash. If you are considering this option, make sure you have your prototype and a good drawing of the product before you get started. Make a list of potential users and manufacturers. You can find this information through the Yellow Pages or by using Thomas Register.
Marketing

If you are looking for a way to market your invention, you should create a marketing plan before pursuing patenting. Patenting your invention is costly and time consuming. Unfortunately, this is not an indicator of how well it will sell. A marketing plan for your invention will make sure that your idea gets the attention it deserves. Below are some ideas to consider:

First, determine your target market. This may be difficult if you aren't familiar with the products your target market wants. For example, major professional sports teams often choose less talented players over top draft picks. By focusing on less talented players, these teams won't destroy the team's morale, cause division, or tarnish the franchise's reputation. If you have a product that solves a real problem, you may have a better chance of selling it than if you are a high-profile celebrity.