Don’t Sit on Getting your Prototype to Potential Investors

Wednesday, August 27, 2014

Coming up with a new idea is exciting – seeing that idea come to life is even better. When you have developed a product, it’s critical to create a prototype so you, investors and potential distributors can see a physical, tangible item. If all goes well, that prototype will lead to a patent so your idea is protected and official.

Having a prototype for your new product allows you and your team to see the actual product in real life. Instead of a drawing or a verbal description, a prototype offers something you can touch, move, use and test. You can check the design to ensure it’s safe and functional, and make sure there aren’t any major problems or flaws that need to be changed before mass production.

Prototypes are also a great way to create interest in your idea from potential investors and distributors. Without a prototype, many individuals and companies will not even discuss investment, as great as it may be. Seeing the product in real life and being able to touch it or use it makes it a real opportunity for investment and distribution.

A fully functional prototype can also be used to gain a patent, which is vital to a new product. Without a patent, another person or company could take your idea and produce it themselves. And time is of the essence when it comes to applying for and receiving a patent. Information travels fast these days and a new product, if its innovative and profitable, won’t go unnoticed for long.

The patent on your product allows you to produce, distribute and sell the product without having to worry about the idea being taken and reproduced by competitors. Patents are granted by country and can be applied for in the US through the United States Patent and Trademark Office, wherein they only last 20 years.

Prototypes and patents are the main ingredients to a long lasting, profitable and secure invention or product. The quicker it can be turned into a prototype, the quicker you can apply for a patent. This means quicker money in your pocket.