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Inventing New Products/Inventions/Provisional Patent how to market product

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Lotion Wand
Lotion Wand  
I paid a company almost $3,000 to make a website and some pictures of my invention. They claimed that they had a list of people that buy patents, all I had to do was send them my website. When it was all said and done it was just a cold calling list I could find myself. I did get a provisional patent on my idea, but I have no idea what to do now. I have researched the market and have contacted lots of investors, but no one wants to deal with you if you don't have a working proto-type, or business plan. I just want someone to license it and run with it. It is a great idea in health and beauty, and they all say so, but it takes money to make money. Am I doomed to scratch this dream with no money to move forward?

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1). I paid a company almost $3,000 to make a website and some pictures of my invention.

Your not the only one who made such a first mistake. If one has to pay money and sign a Contract one knows for sure one doesn’t have a “partner” ----but a money-making machine --- if one doesn’t know the person or company. You found out what these outfits supply and that it is something you could have acquired yourself by burning a candle.  

2). They claimed that they had a list of people that buy patents, all I had to do was send them my website.

Is that what your Contract stipulates? I bet NOT. They said all it would take would be to send your website, eh? Did you ever wonder how many inventor reps send websites? Unfortunately manufacturers and/or distributors can’t sell websites and make money hence why they desire either fully-finished and market ready products or operational prototypes whom their reps can show to potential clients.  

3). When it was all said and done it was just a cold calling list I could find myself.

“Ain’t” that the truth! I hate to be the bearer of more bad news but from what you’ve described you DO NOT have a PATENT if all that was filed was a Provisional “application.”  It’s just an application! Therefore the only protection IN THE U.S. it conveys is its filing date. Moreover, it will NEVER become a patent unless one hires a patent lawyer or agent to write and file one citing back to that Provisional – within the  time limit (expiration date) of your “application” - failing to do the latter before its expiration and the PTO will flush it. Patents do not generally make money only physical products “may”; when one has a consumer-type gizmo.

4). I did get a provisional patent on my idea, but I have no idea what to do now.

Everyone, literally, can get a Provisional even if they only submit a sheet of paper with the word BALONEY written on it and include the Filing fee. Welcome to the wonderful world of reality, my dear. “Ain’t” nuttin’ special about a Provisional.

5). I have researched the market and have contacted lots of investors, but no one wants to deal with you if you don't have a working proto-type, or business plan.

Get creative!!! Visit a local college or university’s engineering dept to see if there’s a student can help you with a proto; talk to the Dean of engineering or join a local inventors club – likely you’ll find someone who can build you a proto there. I can think of multiple ways to get a proto. As to a Business Plan, visit your local S.C.O.R.E. (Senior Corp of Retired Execs) which is part of the Small Business Association. They offer cheap seminars as part of your community’s local free business advice portal. One of their free consultants may mentor you! Last time I looked learning how to write a business plan (they provide the seminar and written help on it) was around $45!!!!!

6). I just want someone to license it and run with it. It is a great idea in health and beauty, and they all say so, but it takes money to make money.

Gonna be tough to license something where one can’t hold, use or try it. Further, if they “all” says it’s such a great idea, how come you haven’t asked whoever those people are to put their money where their mouths are and become speculative investors in your idea, eh?
It seems to me you are sleep walking so missing opportunities hoping someone else will “run with it” instead of rolling up your sleeves to understand what businesses seek and want especially those who license in your field of endeavor.

7). Am I doomed to scratch this dream with no money to move forward?

It seems so. Only you can change the condition. Roll up your sleeves and get into action. If this is your dream, make it so.

Regards,
Penny Ballou  

Inventing New Products/Inventions

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Penny Ballou

Expertise

The Invention Process; Royalties; Licensing Inventions/Products; Pricing; Direct to Market; Marketing/Promotions; Patent Searching; DIY patent writing; Types of patents/costs/how to's; Funding (grants and Angel investors); Prototyping; Off-Shore sourcing.

Experience

I am founder of an inventors group; Advisory Board President of www.inventored.org; former Licensing Executive Society member; researcher for www.piausa.org and a consultant; plus moderate and contribute to several online inventor discussion groups.

Publications
Enter my email address into any search engine to find them.

Education/Credentials
Invention development: well-studied and applied in all aspects of the process and an inventor myself with one invention in patent pending and others ramping up. Lived and attended schools in Mainland China and the UK.

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