The Project Pad

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?

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?

Go on the show Shark Tank.