"An innovation is one of those things that society looks at and says, if we make this part of the way we live and work, it will change the way we live and work."
-Dean Kamen

Balance is regularly approached by independent inventors. We are happy to review and discuss your concept with you; the initial consultation is of no cost to you. You can download a ‘One-Way Confidentiality Agreement’ here. Once we have this agreement in place, you can discuss your idea with us in complete confidence.

One-Way Confidentiality Agreement

http://www.google.com/patents
http://www.uspto.gov/
http://www.ehow.com/how_2199175_be-successful-inventor.html

How do I confirm that there is no product like my prospective product on the market today?

The Internet is a very powerful tool. We recommend doing a Google patent search to see if an idea like yours has already been patented. Depending on what your idea is, you could engage a patent attorney (or patent agent) to do an official patent search, but we don't think you'll find anyone who will guarantee that your product (or a part of it) isn't infringing someone else's intellectual property in some way.

We see new ideas all the time. Some are unique but don’t necessarily warrant a patent. Keep in mind that getting a patent doesn't guarantee you will have a marketable product.

I've determined my idea is unique; do I have the product designed first or patent the idea (or get a 'patent pending')?

It really depends on the product concept and what you want to do with it. Some products can be taken to a specific level of finish and then shown to manufacturing companies for further development (e.g. they may license your idea and you retain the rights to the IP)... some inventors want to actually create a company and manufacture the product on their own. There are many ways to approach it-each with pros and cons. You need to decide what you would like your exit strategy to ultimately be.

Do I need a patent before talking to somebody about my idea?

Some manufacturing companies won’t even look at an idea if you don’t have a patent or patent-pending. Other companies will review outside submissions without a patent. In the case of the latter, we recommend entering into a Non-Disclosure Agreement with the company prior to disclosing your idea.

My friends and family think this is the greatest idea since sliced bread; should I invest my life savings to develop it?

Every situation is unique. Some people are willing to risk everything on an idea they truly believe in. There are examples of successful inventors that have taken this approach. However, if you compare that to the number of failed inventions, it is a very small percentage.

Friends and family are probably not the most objective judges of your work.

We recommend the more prudent approach of discussing your idea with a group of your intended customers. While this activity costs money, it usually pays for itself in the long run. Wouldn’t you want the approval of your intended customer before investing your hard earned money into a new idea?

Can Balance design it (engineer it) and secure the patent?

You can download a ‘One-Way Non-Disclosure Agreement’ here so we can discuss your idea in confidence. We may be the right partner, we may not be. It depends on a variety of factors. We provide initial consultation at no charge so you really have nothing to lose by coming in and meeting with us. We work in a variety of areas and markets and have multiple strengths and capabilities… we won’t take on a project unless we’re certain we can exceed expectations.

440.247.4711
info@balanceinc.com