Invention Ideas – Top 3 Items You Must Know Before Selling Your Invention Ideas to Big Companies

One of the most important things to consider before selling your invention to a big a company is what they are looking for and how they will evaluate your idea. Companies may use the following 3 items to evaluate your idea before they consider buying or licensing the invention:

#1. What is the primary benefit to the company that your are submitting your idea to?

Is your idea…
A. Faster to manufacture than alternate competing technology?
B. Cheaper to make than alternate competing technology?
C. A better product than alternate competing technology?
D. Or, comparable to alternate competing technology?

Consider these questions and how the relate to your idea. Ask yourself: which of the above questions fit my idea? Now, write a short description of how one of the above questions fits your invention.

Chose one of the above questions and follow up with some detail regarding the following subcategory. For example, what is a key benefit from one of the items below?

A. Is the idea an improved process?
B. Is there a better product consistency?
C. Can the material outperform comparable material?
D. Is the packaging unique or have a high selling quality?
E. What is the interaction with the consumer?

#2. What is the primary benefit to a consumer?

A. Faster and easier to use than alternate competing technology?
B. Cheaper to purchase than alternate competing technology?
C. A better product than alternate competing technology?
D. Or, comparable to alternate competing technology

Consider the above questions, then follow up in detail how your invention related to the below subcategories.

A. Does your invention offer the consumer convenience?
B. Is your invention more durable?
C. How about ergonomics? Is the invention easy use and does not cause fatigue?
D. Is the invention fashionable, and decorative?
E. Does the invention improve functionality?
F. Is there a new unique function built in the invention?
G. What are the portability qualities of the invention?

#3. Why do you think this is a strategic fit for the company?ideas for an invention

The above question may be the most important question that you’ll have to answer. Consider this question carefully before writing it down and sending the answer to the company that you are submitting your idea to. A good example may be…

1. This invention is the first of its kind and will open new possibilities
2. My idea is a solution to a limiting factor of an existing competing productideas for an invention

The company may only accept the idea if it fits within the brand(s) of the company or could be used to compete with alternate products. A strategic fit for a company is an invention that can be used to strengthen their existing brand. Carefully consider this before submitting your idea and you may find the exact product description or solution that the company is looking for.

An example of an evaluation process can be found on the corporate website of Newell Rubbermaid. Newell Rubbermaid owns 11 home and family brands. They also own 19 office product brands and 10 tools, hardware & commercial product brands.

There are over 350 companies, investors, product scouts, manufacturing reps and licensing agents, seeking ideas listed in The FREE Inventor’s Phone Book. Also included in the ebook are resources, guides and contacts you can use to profit from your idea fast.