I've designed a device with accompanying software. I would need to get a patent and prototype built. My research tells me that it will cost a lot more than I can manage now. Are there any companies I can approach that invest capital and or develop the product for equity? Are there ways to present my idea without jeopardizing the intellectual property?
Answers
Hi Tzvi,
I've worked in consumer product design and development (mostly consumer electronics, sporting equipment, and firearms) for the last couple decades and would be happy to chat with you about next steps . As Jerry mentions, getting a NDA in-place when talking to folks about the details of your product is important for several reasons. There are also "provisional patent applications" which can help you get some protection without the full cost. Another path to consider is licensing (check out the book "One Simple Idea", by Stephen Key).
-Paul
paultusting@gmail.com
Hi Tzvi,
I can't really point out exact companies, but I may be able to give some guidance based on what I've read and heard.
First of all, you will need to get an NDA/ CDA completed. I'm sure you can do that on any online legal website. This should provide some protection.
Secondly, you could look up angel investors locally.
https://angel.co
I hope this helps.
Jerry
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