How Do I Choose a Partner for My Invention?
I have all the research needed to start but no funds, so I'm having a hard time choosing a company to partner with that already has the technology needed for my invention. Or should I seek out an investor and hire the help needed?
I'm sorry to be discouraging, but I am very skeptical about the possibility of selling an invention to a manufacturer. That rarely happens. The value in an invention materializes when somebody uses it to build a product and figures out how to market and sell that product and make a profit.
In very rare cases, an invention is so compelling, and its patent protection so strong, that inventors can make deals with manufacturers. That's one in a million or so. Use it to build a business, then you have value. Otherwise you're probably wasting your time and effort.
Tim Berry is the chairman of Eugene, Ore.-Palo Alto Software
, which produces business-planning software,