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- 1). Make a drawing of your invention and label all of the parts.
- 2). Fill out a provisional patent application to protect your invention idea and file it with the U.S. Patent and Trademark Office. It costs about $110 and gives you the right to stamp "patent pending" on your invention for one year while you bring your invention to market.
- 3). Make a working prototype of your invention.
- 4). Decide whether you want to submit your idea to a large company for licensing or assignment or if you want to bring your invention to market yourself. The latter generally requires much more time and capital, but you get to keep more of the profits. If you license or assign your rights to your invention over to a company, you can negotiate with that company a mutually agreeable royalty payment for a set amount of time. Usually it is for 20 years, which is how long a patent protects your invention.
- 5). Find a manufacturer to make the final prototype of your invention and have him mass produce it for you if you decide to bring the invention to market yourself. See thomasnet.com for a list of manufacturers.
- 6). Price out your invention. Find out the difference between what it will cost to manufacture and what you can sell it for to determine your profit.
- 7). Set up a website and sell your invention online or sell it directly to retail stores.
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