Inventors' Help Line

 

Inventors face many challenges on the road to a successfully developed and marketed new product of service. They can significantly improve their chances of success if they conduct a proper research and analysis of their idea before committing to the actual development of their idea. A Caution on the Use of Inventor Assistance Firms and Consultants Inventors need to understand from the outset that an idea, no matter how brilliant to its creator, is not in itself an invention having value to anyone but the inventor.  Unfortunately the world is full of people ready to exploit your enthusiasm for their own ends.  Firms can be found on the Internet, in magazine advertisements and on ate night television purporting to help you become rich by commercializing your invention. When you contact them they will offer all sorts of encouragement and you simply only need to pay them a series of escalating fees and they will design, patent, engineer, find a manufacturer and market your idea.  You sit back and become rich on the royalties. If it was only so easy!  The experience is usually that at some point the cost of the next step is so outrageous that the inventor gives up and is left wiser and in possession of impressive documentation which, like Bre-X stock certificates, makes interesting if costly wallpaper. There are also very reputable organizations which can help inventors assess the market for their idea and put them in touch with companies which can assist them in design, development and marketing.  These firms charge a more reasonable fee and begin with a realistic appraisal of the market potential of your idea.  You need to listen carefully to their opinion.  You may disagree with a discouraging assessment but reputable firms have an obligation to warn you against wasting your precious time and financial resources on ideas unlikely to succeed. Remember, no matter how encouraging the market assessment may be, no one else but you is going to assume the financial and time risks to champion the invention - as Thomas Edison is claimed to have said "invention is ten percent inspiration and ninety percent perspiration". If you are going to proceed you must recognize that you are going into business and plan your moves just as carefully as anyone else undertaking a significant business investment. As with any business venture you need to ask yourself a series of questions such as: Just what is the business I am undertaking? What is the market for my new product or service and does such a market truly exist? What is the "distinct competitive advantage" my invention will give the business in this market? What are the steps I need to take to develop my invention? Have I got the skills  - managerial, technical, marketing, presentation to succeed? Do I have or can I acquire the initial investment needed to begin this business and bring it to a point where I can begin to generate a cash flow or attract other investors? These are often difficult and complex questions to answer and inventors are well advised to consult the variety of resources available to assist them.

Training in the Elements of Starting a Business The Entre-Corp Business Development Centre provides courses and other forms of assistance to entrepreneurs in the Medicine Hat area.  For individuals with no experience in setting up or running a business Entre-Corp is clearly the best place to start with its featured eight-week entrepreneurial training program.  It is a non profit company , supported by the provincial and federal governments and directed by a local board  experienced, public spirited individuals. The Medicine Hat College through its Continuing Studies offers a variety of business courses dealing with essential elements of business operations. Companies that Offer Assistance to Entrepreneurs Many Technology Networks and Incubator/Accelerator companies now exist which offer various forms of assistance. Patent Information The Canadian authority for patents and other forms of intellectual property is the Canadian Intellectual Property Office.  You can use its web site to learn more about IP protection and to search its data bases.  The site also provides convenient links to the United Stated Patent Office as well as those of other countries. http://strategis.ic.gc.ca/sc_mrksv/cipo/new/new-e.html Look Out for Scams Web sites which give useful pointers on sorting the reputable inventor services from the scam artists include: Beverly Sheriden's company Technology Now and any number of others you will find by searching "inventor scams". One good one seems to be on about.com.