When inventors have an invention that they believe is marketable, their next step is to try and find a company that will license the product. This can be a daunting task, as there are many companies out there that may not be interested in what you have to offer. In order to increase your chances of finding a licensee, it is helpful to know what types of inventions are most likely to be licensed. So, what are they? Read on to find out!
1. Inventions that solve a common problem
If your invention solves a problem that many people have, then it is more likely to be licensed. This is because there will be a larger market for your invention and companies will be more willing to pay for the rights to manufacture and sell it.
Some examples of inventions that have solved common problems include the automobile, the light bulb, and the telephone.
2. Inventions that make life easier or more efficient
This includes devices that make everyday tasks easier, such as can openers or self-cleaning ovens. Inventions that make life more efficient are also often licensed, such as energy-saving appliances or fast-charging batteries.
3. Unique and interesting inventions
If your invention is truly unique and interesting, then it stands a good chance of being licensed. This is because potential licensees will be eager to get their hands on something that they feel could be profitable or helpful to their business. Of course, you’ll need to be able to prove that your invention is actually unique and not just a copy of something else that already exists.
4. Inventions with a wide appeal or potential market
This type of invention has a lot of potential customers or a market that is not easily saturated. In order to be successful, your invention needs to appeal to a large group of people or have a wide range of potential uses. Some examples of this type of invention include new medical treatments, innovative technology, and green energy solutions.
5. Inventions that are already in production or have been released to the public
These are more likely to be licensed than those that are still in the development stage. This is because companies are more interested in products that have already been proven to be successful.
Inventions that are still in development may be more difficult to license because companies are often reluctant to invest in products that have not yet been proven to be successful.
Products that have already been released to the public are more likely to be licensed than those that are still in production. This is because companies are interested in products that have already been proven to be successful.
Invention licensing is a complex process, and there are many factors to consider when trying to determine which inventions are most likely to be licensed. However, by understanding the different types of inventions and the patent process, you can increase your chances of having your invention licensed.
If you have an invention that you think has potential, don’t hesitate to contact a patent attorney to discuss your options. They can help you navigate the process and increase your chances of success.