Submitting an invention idea can open doors to exciting opportunities, but it requires planning, protection of intellectual property, & finding the right channels to bring your idea to life.
By MarketBlast

 

As an aspiring inventor, you’ve come up with a unique idea that has the potential to solve problems, improve lives, or revolutionize an industry. However, having a great idea is just the first step. Knowing how to submit your invention to the right people, companies, or platforms is essential if you want to see your idea transformed into a product. Whether you’re looking to license your invention, sell the idea outright, or partner with a company to bring it to market, this guide will help you navigate the process of submitting your invention idea effectively.

In this article, we’ll explore the key steps for protecting your intellectual property, researching potential submission avenues, crafting a compelling pitch, and submitting your invention to the right audience.

 

1. Protect Your Invention Before You Submit

Before you share your invention idea with anyone, protecting your intellectual property (IP) is important to ensure it is not stolen or misused. Here’s how to safeguard your invention:

File for a Patent

A patent gives you the legal right to prevent others from making, using, or selling your invention without your permission. If your invention is novel, useful, and non-obvious, it’s likely eligible for a patent. There are two main types of patents:

Utility Patents: Protect the functional aspects of an invention (how it works).

Design Patents: Protect the ornamental design of a product (how it looks).

If you’re not ready to file a full patent, you can start with a provisional patent application. This gives you a 12-month window to market your invention as “patent pending” while securing the time to file for a full utility patent.

Filing for a patent can be complex, so it’s wise to consult a patent attorney or agent who can guide you through the process.

Use Non-Disclosure Agreements (NDAs)

When presenting your invention idea to potential investors, companies, or partners, always have them sign a non-disclosure agreement (NDA). An NDA is a legal document that prevents the recipient from sharing, using, or disclosing your invention without your consent.

While it may seem daunting to ask someone to sign an NDA, it’s a standard practice in the world of inventions and startups. It protects both parties and ensures that your idea remains confidential.

Keep Detailed Records

Maintain a detailed invention journal that includes notes, drawings, prototypes, and timelines of your invention’s development. Documenting your progress can help prove that you were the first to conceive the idea if any disputes arise later.

 

2. Conduct Market Research and Assess Demand

Before submitting your invention, it’s crucial to determine if there is a real demand for it. Conducting thorough market research helps you understand the potential market, identify competitors, and assess whether your idea solves a meaningful problem.

Identify Your Target Market

Who will benefit from your invention? Is your product aimed at consumers or businesses? Consider demographics like age, gender, occupation, and location. Understanding your target market will help you refine your product and increase your chances of submitting it to the right companies or investors.

Analyze Competitors

Look for existing products that are similar to your invention. How does your idea compare to what’s already available? Identify the gaps or weaknesses in competing products and highlight how your invention improves upon or solves those issues. Demonstrating the competitive advantage of your invention is crucial when submitting it.

Validate Demand

If possible, try to validate your idea before submission by seeking feedback from potential users. Conduct surveys, create focus groups, or develop a simple prototype to gather input. The more data you can provide about the demand for your invention, the stronger your submission will be.

 

3. Choose the Right Avenue for Submission

Once your invention is protected and you’ve validated its market potential, the next step is to decide where and how to submit your idea. There are several routes you can take, depending on your goals.

Direct Submissions to Companies Open to Licensing

Many companies actively seek new invention ideas from independent inventors. These companies usually seek innovative products that complement their existing product lines or open new market opportunities. Submitting your idea directly to these companies allows you to bypass middlemen and negotiate licensing terms. Here are some of the top companies that welcome submissions from inventors:

Allstar Innovation  

Allstar Innovation is a well-known consumer products company that has helped bring several "As Seen on TV" products to market. They specialize in identifying and commercializing innovative, problem-solving products that appeal to a broad consumer base. Allstar Innovation has a history of working with inventors to license their ideas and help them navigate the product development and marketing process. Their open submission process allows inventors to pitch their products directly for consideration, offering a pathway to commercialization and royalties.

Shurtape Technologies 

Shurtape Technologies is a leading manufacturer of adhesive tape products for a variety of industries, including packaging, construction, and HVAC. They are constantly looking for innovative adhesive solutions to add to their extensive product lineup. Shurtape Technologies encourages product submissions that align with their goal of providing durable, high-quality tape products for professional and consumer use. Innovators with ideas for new tape applications or related products can submit their concepts for consideration, potentially leading to licensing agreements and royalty payments.

Hyde Tools

Hyde Tools is a recognized leader in the hand tool industry, particularly for painting, drywall, and surface preparation tools. They have been innovating for over a century, consistently bringing new tools to market that make professional and DIY tasks easier. Hyde Tools accepts product submissions from inventors looking to develop new hand tools or improve upon existing designs. Their open innovation approach allows inventors to present their ideas directly to the company, and successful submissions can result in a licensing partnership, where inventors earn royalties based on sales.

MindWare

MindWare is a respected provider of educational toys, games, and puzzles that promote critical thinking and creativity in children. They actively seek new products that align with their mission of fostering learning through play. MindWare’s open submission portal invites inventors to submit their educational toy and game ideas for evaluation. Inventors whose products meet MindWare's standards for educational value and market potential may be offered a licensing agreement, allowing them to collect royalties as their product is sold through the company’s retail and online channels.

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Submit Your Invention Through MarketBlast.com

If you’re unsure which company would be the right fit for your invention, using an innovation submission platform like MarketBlast.com can streamline the process and connect you with potential buyers, manufacturers, and licensees. MarketBlast is an innovation marketplace designed to simplify the submission process for inventors by allowing them to present their ideas directly to companies looking for new products.

How MarketBlast Works

MarketBlast enables inventors to submit their ideas to various companies actively seeking innovation in different categories, from consumer goods and electronics to medical devices and automotive products. The platform provides a central hub for both inventors and companies, allowing them to find and connect with one another efficiently.

Here’s how the process works:

• Submission Opportunities: MarketBlast provides inventors with a list of companies seeking new inventions. These companies post “open innovation” opportunities, detailing the types of products or ideas they are looking to review.
• Streamlined Submission Process: You can submit your invention directly through the platform by following the specific submission guidelines laid out by each company. The platform makes it easy to manage multiple submissions in one place.
• Direct Access to Decision-Makers: One of the key benefits of MarketBlast is that it allows inventors to bypass traditional gatekeepers and present their ideas directly to company decision-makers who are actively looking for innovative solutions.
• Review and Feedback: Once your invention is submitted, companies will review your idea and provide feedback. If they’re interested, they may request more details, leading to potential licensing or partnership opportunities.

Why Choose MarketBlast?

• Targeted Connections: Instead of submitting your idea blindly to companies, MarketBlast connects you with organizations specifically seeking innovation in your industry.
• Visibility to Multiple Companies: Your invention is not limited to one company; you can submit to various companies and increase your chances of landing a deal.
• Transparency: MarketBlast provides clear submission guidelines and feedback, helping inventors understand how their ideas are being received and what companies are looking for.

By using a platform like MarketBlast.com, inventors can save time, reach more potential buyers, and navigate the submission process with greater confidence, all while ensuring their ideas are showcased to the right audience. Be sure to follow each company’s guidelines carefully and present a professional, polished submission to make the best impression.

 

4. Create a Compelling Invention Submission Package

To increase your chances of successfully submitting your invention idea, you’ll need to create a compelling submission package that clearly communicates the value and potential of your idea. Your submission package should include:

A Clear and Concise Invention Description

Provide a detailed yet easy-to-understand description of your invention. Explain what it does, how it works, and what makes it unique. Focus on the problem your invention solves and the benefits it provides to potential users.

A Visual Representation or Prototype

Include drawings, sketches, or a prototype to visually demonstrate your invention. Even if you don’t have a fully functioning prototype, a 3D model or mockup can help companies visualize how the product will look and work.

Market Research and Competitive Analysis

Show that you’ve done your homework by including information about the market demand for your invention and an analysis of competing products. Highlight the potential market size, target audience, and how your invention stands out from the competition.

Patent or Intellectual Property Protection Information

If you have filed for a patent or have other intellectual property protections in place, include this information in your submission package. Showing that your idea is protected can make it more attractive to potential buyers or licensees.

A Well-Written Executive Summary

The executive summary should briefly summarize your invention, its benefits, and its market potential. This document is typically the first thing a potential buyer or company will read, so it’s important to make it clear and engaging.

 

5. Submit Your Invention and Follow Up

Once your submission package is complete, you should send it to the company, platform, or organization you’ve chosen. Be sure to follow the submission guidelines precisely to avoid delays or disqualification.

After submitting your idea, it's important to follow up with the company or platform. Some companies may take weeks or months to review submissions, so patience is key. However, a polite follow-up email or call can show your continued interest and professionalism.

 

6. Prepare for Negotiations

If a company or buyer is interested in your invention, you must prepare for negotiations. Depending on your goals, you may want to sell your invention outright for a lump sum or license it for ongoing royalty payments.

Selling Your Invention Outright

Selling your invention outright means transferring all ownership rights to the buyer in exchange for a one-time payment. This option can be attractive if you want immediate compensation without further involvement in the product’s development or sales.

Licensing Your Invention

Licensing your invention allows a company to manufacture, market, and sell your product in exchange for royalties. This option provides ongoing income based on the product’s sales but requires you to maintain a relationship with the licensee.

During negotiations, it’s a good idea to work with a patent attorney or licensing expert to ensure that you get a fair deal and that all legal protections are in place.

 

In Summary

Submitting an invention idea is an exciting but complex process that requires careful planning, protection of your intellectual property, and targeted submissions to the right audience. By following the steps outlined in this guide—protecting your invention, conducting market research, choosing the right submission avenue, creating a compelling submission package, and preparing for negotiations—, you’ll increase your chances of turning your idea into a successful product.

With determination, research, and the right strategy, you can bring your invention to market and make your vision a reality.

 

About MarketBlast®

Founded with the vision to transform the landscape for monetizing and commercializing innovative products and brands, MarketBlast® is the leading Product Hunt and Submission Management Platform connecting buyers and sellers across the globe. Since our inception, we have been dedicated to empowering small companies, startups, entrepreneurs and emerging brands to connect directly with industry companies and accelerate their own marketing and sales efforts to achieve lasting results.

At MarketBlast®, we believe that innovation thrives on collaboration. Our platform provides seamless access to a diverse network of companies, proprietary content marketing and advertising programs, and access to a wide range of resources designed to support the overall journey toward success.

For more information on signing up for a premium membership or to start a content marketing campaign for your products, email info@marketblast.com or visit www.marketblast.com.    

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