The steps to see to the commercialization of my invention
May 2nd, 2022
The path from idea to invention can sometimes be long and winding. It can be difficult to know what step to take to get your invention to market. It is a process that can seem painful or even laborious for the uninitiated. It is, however, very important to do all the steps in the rules of the art if you want to achieve your goals. The following blog post will guide you through this journey so you can make the best decisions.
Study the market
First of all, market research consists of studying the environment in which your invention will evolve. You can try to assess the sector, the players already present in your field, their respective impacts and relationships, competition, selling prices, etc. It is possible that this data will strongly transform your project, which is why this analysis work must be carried out in parallel with the protection of your idea and the technical development.
Whether you want to sell your invention to a company, lease it out by licensing, or set up a business to market your product, upfront market research work is mandatory.
Protect his invention?
The protection of an invention involves obtaining a patent, it is inevitably necessary to prepare and file a patent application with the Patent Office. In Canada, the Patent Office is a special operating agency of the federal government. To complete the patent application, you will have to write a descriptive memorandum including the description of the practical application of the invention as well as the requests which circumscribe the scope of it. In most cases, drawings are included with the patent application. Although the description seems important, the claims or requests are, in a sense, capital. It is these claims that delimit the breadth of patent protection. All information submitted in the specification and not claimed cannot be protected by the patent. It should be noted that a patent may be invalid if it failed to adequately differentiate this invention from existing or prior inventions. In addition, there is the provisional patent and the official patent. You will go through the development phase of your invention between these two types of patents.
At the end of this sometimes long process, you will be ready to launch your invention in the world. You will have defined a marketing plan and a commercialization plan in which you will define your approach to reach as many people as possible with your invention. You can also enter the contact details of your suppliers, manufacturers relating to your field or any other information that you find relevant.
The process can seem complicated and it is easy to get lost. Do not hesitate to contact professionals who will help you navigate these crucial steps for the commercialization of your invention. Being well guided is the key to success in seeing your idea become reality.