How to promote your patent, invention or idea
Promoting a patent, invention or idea can be a complex process, but there are some steps that can be followed to increase its visibility and attract investors, potential buyers or licensees. First, it is important to point out that only the interested party or right holder is the best one to promote its invention or idea and is the one who should develop a clear marketing and communication strategy, recommending that it includes the creation of a website, a promotional video and a social media plan. You may also consider registering for relevant trade shows, publishing articles in trade magazines and contacting companies that may be interested in your product or service. In addition, working with an intellectual property agent can help protect your patent, broker professionals who can assist in the promotion process and help you with the type of contract to enter into.
Generally, for companies that already have their own means or infrastructure, contacts, commercial network, and manufacturers, it can be relatively easy to launch and commercialize a new product. On the other hand, if you are an individual, the promotion of a patent, invention or idea can be a challenge with certain difficulties to face and require a certain economic effort, time and dedication on your part, but there are several strategies that you can take into account when it comes to publicizing your innovation:
Protect your invention as a patent: If you have not yet patented your invention*, do so as soon as possible. This way, you will have the necessary legal protection to be able to promote it with the confidence of having the necessary legal security. Perform a preliminary search to determine whether or not it is patentable with an industrial property agent. If it is not patentable, evaluate with a professional agent other ways or types of intellectual property rights to protect it or give it an additional value; copyright, trademark registration (brands), industrial design (aesthetics), industrial secret, etc.
*Inventions or processes subject to the legal conditions and requirements of patentability: a patent must be new worldwide, not be obvious to a person skilled in the art, be applicable to some field of industry and be workable by a skilled person.
- Identify your target market: You should try to understand your target audience and how your invention, idea or project can help or benefit them.
- Create a marketing plan: Develop a promotional plan for your invention or idea through different channels, such as social networks, industry events, presentations, etc.
- Look for investors and manufacturers: If you need funding to carry out your invention, look for investors or business angels who may be interested in supporting your project or helping you in its commercialization. Also contact possible manufacturers of the product for prototyping or contact experts in the sector if you are dealing with procedures and you will be able to make a cost and quality analysis.
- Use crowdfunding platforms: You can use crowdfunding platforms to raise funds and promote your invention at the same time.
- Look for strategic partners: Identify companies or individuals who may be interested in working with you to bring your invention to market.
- Participate in industry events: Attend industry trade shows, conferences and other events related to your industry to showcase your invention and meet other professionals in your field.
- Do public relations: You can do a public relations campaign to publicize your innovation. Look for media outlets that may be interested in publishing your story.
- Be wary of those who claim that they will promote your invention in exchange for considerable payments of money; there are companies that claim to do a market study and put you in contact with investors or distributors and thus “guarantee” their successful promotion, although in reality they do not achieve any satisfactory result, with the consequent loss of the investment made for that purpose. In that case, check the conditions, the fine print and their promotion plan. Because we insist, the best seller of your invention is yourself, since you are the most knowledgeable of your idea or project, and the most interested in its success.
Remember that the promotion of your invention or idea takes time and effort, but regardless of its nature and characteristics, it is important that you draw up an adequate business plan for your project, never fall into discouragement and put all your enthusiasm and determination to make your idea succeed, because by following the right strategy, you can successfully exploit your innovation in the market.
In this regard, it may be crucial to have professional advice to obtain the best possible patent protection on the functionality of the innovation, copyright (for original artistic creations), trademark registration (the commercial distinctive brand of the product or service), industrial design (for the external aesthetic appearance of products), to maintain a trade secret, as well as to draft the corresponding contract of assignment or license of rights to others, which have been freely agreed, this will avoid possible misunderstandings that could lead to disputes and become long and costly legal proceedings.
If you need more information about these issues or how we can help you, please contact ABECSA at https://www.abecsa.com/en/contact-us/ and we will clarify any doubts you may have.