Profitting from a Software idea
Just curious, anyone know how to get profit from an idea? I won’t go into detail what my software idea is but it will be a software that will be utilized by some hardware being mass produced by a company(ies). I already reached a patent lawyer and he said it will be 3800~ to conduct a thorough patent search and can be rejected in process if the conditions are met...
Find a sales person and go for a licensing deal with a big corp once you get the patent. (Generic Shark Tank answer)
How do I attempt a licensing deal
Leave that to the sales person. Us tech guys are noobs at these things. Some of us at least.
can i recruit people here and see if they will work for free after hearing idea and seeing if there is potential?
Damn u. I already offered that in the first comment. And u r already cheating on me!
Free as in you'll at least offer equity in terms of paper money, right?
Lol, you already know how to profit, you said it: be the lawyer who charges 3,800 to do nothing and then more to get a worthless patent. Ideas are cheap.
Not sure if I should pay the 3800. It’s kind of a big gamble
If you genuinely believe in the idea then it's peanuts in the long run. Patent protection is important. Ask the fidget spinner dude who didn't renew his patent before it became a craze.
true... hmm
Op, software cannot be patented. There are some way to get around, but will be very hard. Do some google search before you spend 3800.
For now it’s more an idea for a software / program and attorney said I can, unless he’s trying to cheat me
Also if you’re still at ibm They’ll claim to own your patent Having said that a good friend of mine on my baseball team is a patent attorney and owes me a favor Let me know if you need help
hey thanks, ill dm you
Couple comments: Ideas are not products. It's nice to have an idea, but executing them and making them a profitable product/service is what counts. Rest assured that at least a dozen other people have the same idea as you, maybe more. The difference is time to market and timing market. You don't need to be first to market, but you need to make sure you are going to be last (meaning that nobody else will be able to compete with you once you established your dominance).
so in your opinion, do you think i should patent my idea?
You can't patent an idea, as far as I can tell. You can patent a product or a process. Do you have a process that can be prototyped to show your idea works? If so, you might be able to do something. But that costs a lot, I mean, A LOT of money. If you watch shows like Shark Tank you'll see people pay tens of thousands to get a parent. You could consider getting an NDA and talk to people that can help you out to materialize your idea. But as I said, market timing is key. Too early and you burn all fuel before getting into orbit, too late you're bound to the Sun. This isn't stuff that technical people tend to understand well. Even marketing folks make mistakes. Noteworthy that even big companies mess up. Everyone was trying to make a smart phone, for decades. Until Apple found the right time to launch the iPhone. The rest is history.
Good job Do u need a sales person? Or someone who can look and talk pretty? Or just someone who can help u run errands?
He said he will do a patent search and after if everything looks good, meaning, it hasn’t been already been taken, I can then create a “business model”, or create a team to build my software or sell it (the idea) to a company and maybe also work with them and help. I am no where near capable of enough to hire a small team, so I need to try and sell it
U aren't hiring me. I'll be an early partner. :D