Lowell Sandoval ⋅ Seattle, WA LowellSandoval.com ⋅ 25 years experience

Michael,

You can sell your idea without a patent. This may be a risky path though. On the USPTO (US Patent) website, you can file a pending patent for as little as $45 as a Micro Entity. This could end up protecting your Million Dollar idea from being copied or from being stolen.

The best and easiest path is to explore licensing the product idea out to a large firm in that industry. Then if they like it, you can sit back and collect money going forward without any additional effort or time.

Good luck,

Lowell Sandoval

Phil Marcoux ⋅ Mountain View, CA PPM Associates ⋅ 40 years experience

As you approach possible buyers be sure you ask and received a signed NDA - Non Disclosure Agreement.

I'm located in Silicon Valley where you guess that ideas come and go long before the patents are even filed. NDAs are standard practice and in the eyes of many lawyers offer greater protection for your ideas than a patent. Just make sure you follow all of the requirements of Confidentiality that are needed to have a valid NDA.

Erik Trimble ⋅ San Francisco, CA Independent Consultant ⋅ 20 years experience

Michael,

If you're still in the Winston-Salem area, then you are in luck. One of the best things for young aspiring businessmen like yourself is to be able to attend entrepreneur seminars, where you can get excellent advice on a whole host of "starting your business" questions.

In your area, you've got several world-class Universities: Duke, UNC, NC State, NC A&T, etc. All of them will have such seminars, most of them for free. I would suggest contacting the Academic Affairs or the Career office, and they can help you find the calendar of where and when these seminars are run. In particular, you, as a NC resident, should have absolutely no problem signing up for such a seminar at the public universities, even though you are not an enrolled student.

Protecting ideas, particularly in the technology field, is tricky, and you really do want to connect with several local professionals to give you advice about the business environment in North Carolina.

Arthur Levitan ⋅ Wilton, CT PsquaredT ⋅ 50 years experience

Your first step is to research the idea: using uspto.gov and web search to see if what you have is truly unique. Any new product is 10 percent inspiration and 90 per cent perspiration. Do your homework and put together a business plan around your idea. Be able to answer questions like how much it will cost to make, how much will people pay, what is your addressable market and probably most importantly, what is the barrier to market? If the idea has a defense or homeland security or even Government application, look into the Small Business Innovation program. Each agency (Navy, Army, etc) publishes topics they care about 3 times a year that are set aside to small business. Being ex-military is a plus in the evaluation process. If it were me, I would try to figure out how to create the product, before I shared it with another company. If you decide to share, have the company sign a non-disclosure agreement. It will give you some protection.

David Jackson ⋅ Midland, MI U.S. Army, Specialist ⋅ 3 years served

Michael,
I'm suggesting that you get-in-touch with an organization that is out there to help veterans with business, starting a business and owning your own business. It was started by a veteran and run by veterans. It's called Vet Biz Central and you can check them out on their website at www.vetbizcentral.org

Anthony D. Grande, Esq. ⋅ New York, NY Grande Legal & Consulting ⋅ 26 years experience

You can also search Google for companies that will help people take their inventions or ideas to market, including obtaining a patent to protect their "intellectual property" if necessary. Not sure what the cost may be but wouldn't be surprised if there aren't companies willing to put up the money (or find "angel" investors) but guaranteeing and protecting your stake in the idea/company. As a lawyer, however, do not sign any contract or agreement until you can have a "contract review" by a qualified lawyer. If the idea is really potentially lucrative, you may even be able to ask/demand that the other side pay for you to retain an attorney to do so. Good Luck and thanks for your service.

David Akre ⋅ New York, NY A NYSE listed financial company ⋅ 25 years experience

Michael - Do you want to get paid for the idea? If so do lots of research and hire a patent attorney. You can find a good one that'll work with you if you look hard.

John Gunter ⋅ Riverton, UT TEL electronics, inc. ⋅ 60 years experience

Sure! Tech changes occur so fast that patents often aren't worth the time and expense - first-to-market is often the best protection, along with some copyrights - and this first use is usually enough for great smaller ideas. If you have many ideas, you can often move faster and sell your ideas or your processes/companies much faster than arrange and sell patents.

Our Company has been the leader in several smaller markets for ~40 years - & NO patents!

If ideas are highly unique/original, patents are always better/stronger and tougher to get!

Harry Rakfeldt ⋅ Belfair, WA AMSOIL Synthetic Lubricants and related products ⋅ 38 years experience

Hello Michael,

There is a source that may seem 'off the wall,' but it's valid. And backed by GE. Visit:
www.quirky.com. At the top you can view how 'to do it.' There have been some clever
ideas put forth and accepted and now being marketed. What's nice is this is a legit
operation.

Best wishes for success,

Harry

Michael McIrvin ⋅ Mcpherson, KS Pain Relief Center ⋅ 23 years experience

Thanks for your service. i have actually done this in the past. Many large companies have departments that look at new ideas and products. I suggest that you contact the company and ask how to submit new product ideas. It depends on the company, but many will be happy to review your ideas. Good luck and take care!