Patent/licensing ideas and inventions

[chaloux]

Anyone done it? I'm sick of working but my time in the field has shown me a few things that can be made/improved upon.

I'm trying to figure out the best way to go about making money off of my ideas. So far it seems as though filing for a provisional patent application and then simply calling the companies up to sell/negotiate licensing (if they like the idea) is the easiest, cheapest, and fastest way to do it. No prototype, if changes are necessary it's easy to change, etc.

Thoughts?

[PRY4SNO]

That could be a spendy process if you have a lot of applications to file.

Also, I'd be leery of giving away your intellectual property without anything binding to cover your ass. Don't leave home without a proper nondisclosure agreement, at the least.

Having a patent isn't always enough to assert your legitimate ownership, especially if you have to prove it thru a lengthy court process. I know someone who had a legit patent here in Canada, and a big company ripped him off then drug him thru court to try and bankrupt him/his company. He eventually sold the international licensing rights just to move on. Something like a half million in legal fees later.

So moral of the story is, how well covered do you think you'll be after merely filing for a provisional patent application?

[audifreakjim]

Go on the show Shark Tank.