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About Justin Schwab
Expertise
I can answer questions in regards to: new innovative ideas, patents,
patent process, product development including software, hardware, mobile applications (RIM, IPhone, Android) WAP sites and consumer products. I also am well versed in licensing and brokering Intellectual property (IP).
Experience
I have over 8 years experience in the product/technology development and IP brokering arena specializing in the healthcare, Technology (Mobile, software, hardware) and consumer goods. I am currently a managing partner at an "unnamed firm" in San Francisco, CA. and have held positions at other product/technology Development firms in various positions from Sr. Project Manager, VP of Licensing, conusltant and Partner.
In my current company I focus on B2B clients focusing on start-ups to fortune 500 clients that have a need for outsourced development to additional IP to add to their current technology to make themselves marketable at another level. We are currently involved with healthcare, media, technology, mobile and consumer products companies around the world. I have had the opportunity to work with companies all around the world and have many successful deals both in the past and current deal flow.
Organizations
Select Investor Groups, developer groups and trade organizations in the product development, mobile, software development and engineering realm.
Education/Credentials
CSU Chico, BA-Business/Finance
Past/Present Clients
Start-ups
SMB's
Fortune 500 clients
Media companies
Sports organizations
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You are here: Experts > Science > Inventors > Inventing New Products/Inventions > Idea for New Product
Expert: Justin Schwab - 10/13/2009
Question
I have lived in Cape Cod Massachusetts for a few years. In searching for the perfect Cape Cod and Islands gift for a family member I realized that what I was looking for didn't exist - I had done multiple searches on the internet (Ebay, Amazon, local companies, national companies, etc.) as well as inquired at local retail stores. I think my idea is original for a product and probably would sell given that the Cape and Martha's Vineyard are heavily populated by tourists thru out the year. The problem I am having is I was recently laid off and I do not have the funds to patent/market the product. I am not sure if I am supposed to post the idea here or let you know what the idea is via email. Please let me know ...... any advice would be greatly appreciated.
Answer
Patrick....I am sorry for your job loss, it is a tough marketplace. If you are relying on this idea to pull you these times, I wouldn't rely on it. I hate to blunt, but I want to be upfront. There are many things you need to take into consideration....the main thing is that it is very difficult to bring a product to market with just an idea. I will bullet point some points:
1. You need to broaden your market research beyond searching for your product on the market.
a. Look at like products and try to attain annual sales number
b. Depending on your contacts, you may want to hire a firm to do market research
c. Be resourceful
2. Protection of your idea
a. Knowing your financial position, you may want to go to your family and friends to attain
funds to do this....if you believe, they should as well.
b. Protection is key....you can go to market with patent pending.
3. Licensing/purchasing
a. This is the kicker....you need to have someone license your product or buy it.
b. Any company that will do either of these, will want to see, touch and feel a real
product....Proof of concept.
c. If you do not have contacts in the marketplace.....you need to instill the help of
a firm that does.
There are other routes, like attaining manufacturing and locating distribution channels....this takes an extreme amount of capital. I hope that this can help guide you, but it will take some capital as you move through this process....there is no getting around it. I wish you luck.
Justin
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