One of the most frequent questions asked by people that
develop a new product or create a new invention is,
"Where do I begin?"

Should I Patent My Invention?

The cost of a patent can range from several thousand
dollars to millions depending on the complexity and type.
Also, it is often recommended to conduct a patent search
prior to writing a patent adding further cost.

Even if you decide to write the patent yourself, which you
can do and many resources for this are available, you still
might be infringing on someone else's patent, so a patent
search may be unavoidable.

Patents are generally a strong deterrent and can provide
you with a marketing edge.

Being the First and Fastest to the Marketplace

The internet and television offer two of the fastest ways to
bring your product to market and each has its advantages.

For many, this is an alternative mindset to patenting a
product. Many think that if they can get their product first
and fastest to market that imitators will not attempt to
compete.

Generally, the greater the potential for reward the greater
the chance someone will be watching your success. (While
electing not to patent a product because of a first-to-
market strategy has distinct advantages, this is truly a
business decision that must be made carefully and with the
consultation of competent professionals, the scope of which
exceeds the overview nature of this article.)

The Internet as a Product Launch Tool

Using the internet to launch a new product can be a strong
strategy. However, one major disadvantage of the internet
is, if you are not a search engine optimization expert and/or
don't know what a pay per click campaign is, or don't have
a list of eager customers, you might find yourself with a
website and no traffic.

To gain this knowledge or to employ someone that is
internet marketing savvy increases your costs. On the other
hand, if you do have a high search engine position, you will
see steady traffic from all over the

world.

Launch Your Product on Television

If you have a truly innovative product and launch your
product on television, exposure is almost guaranteed.
Further, a successful product on television usually attracts
retail outlets. Exposure of this kind can also drive business
to your website, creating marketing synergy.

For businesses with high aspirations, launching a product
on television can be the single best thing that can happen
to a new product. It is a tremendous use of leverage and
results can come quickly.

One exposure on television can put your product in front of
millions of people at one time. Two of the best ways to get
your product on television are 1. through an agent or
someone with connections, and 2. to contact the home
shopping channel directly. The latter, being more difficult as
most request mail-only submissions.

Trade Shows

The right trade show can provide tremendous concentrated
exposure as they attract a lot of customers to one place.

Marketing at a trade show includes travel expenses,
lodging, and the cost of the trade show booth at a
minimum. Booth costs range from hundreds to thousands of
dollars.

The larger the show, the higher the cost. A simple internet
search can provide information on tradeshows for your
industry.

License Your Product

You can license your product without a patent, but a
product with a patent attached is a stronger candidate for
success.

Licensing has its advantages - reduces manufacturing and
marketing costs, allows you to focus on further product
development, and with the right company, is an excellent
use of leverage.

Look for a company with a strong presence in the market
and solid, established distribution channels. In a licensing
arrangement you make less per unit but you might sell
more.

If you go it alone, you might make more per unit, even after
marketing expenses, but you'll likely sell less and it will
likely take you longer to see success.