If you believe your idea can really revolutionize the world, then it is time to make it public and benefit from it.
While there are several ways to benefit from your invention ideas, such as manufacturing it on your own if you can dare invest, licensing it to receive only the royalty, and selling it to an investor or a capitalist who will return you with the percentage share as decided, all ways require an inventor to do proper homework before going ahead with the submission procedure.
However if you have chalked out plans to submit your invention to a company; you must not ignore the points as under:
- Don’t submit your invention unless you have completely understood the submission guidelines of the prospective company.
- If you submit improper documents and agreements with the submission guidelines, the prospective company will decline your request, proposal or application without even having a look on the submitted materials.
- Read thoroughly the idea submission guidelines available on the website of company where you are going to submit your invention idea.
- Remember that companies don’t accept submitted invention ideas unless there’s a compliance fixed and followed.
- The available submission guidelines make you clearly understand what type of product the company where you want to submit your invention idea is looking for.
- Continue to update yourself when the allotted time duration for your invention’s evaluation and review has come to an end.
- The company can also demand the original signed copies that were not scanned, faxed or emailed.
- If the company’s website does not have submission guidelines, you can call and ask for it.
- Make sure if the prospective company accepts unsolicited invention submission.
- A company takes around 60 days to review your invention submission.
- Don’t forget to completely understand their submission guidelines.
- Simply submit the files and material that the company can accept
- It is wise to send electronic files, through CD-ROM or via e-mail
- Request the typical time for reviewing your idea
No company wants to jeopardize their interests, they refrain themselves from any kind of lawsuits.
Therefore, the main objective of an idea submission policy should be to escape potential misunderstandings or disputes, and manageably safeguard later launched corporations’ products that may look similar in appearance.