- How much will this cost me?
- How do I know you’re not going to steal my idea?
- Do I need a patent to work with Davison?
- What can Davison do for me that I can’t do myself?
- Can another person and I be inventors of the same product?
- What if I see my product idea on the market and haven’t pursued it yet?
- What does your company do?
- Are there other companies like Davison?
- Can I tell people about my idea?
- Should I make a prototype of my idea?
- I heard people can sell their ideas.
- I heard or was told that I should patent my idea first.
- I heard I can pursue an idea at no cost with a company.
- I can make a lot of money from my idea. (I can be rich)
- I have the best idea in the world.
- A lot of product ideas make it to market.
- All product ideas make money.
Answers to Questions
1. How much will this cost me?
Every idea is different. There is no initial cost to speak to our staff. Once your idea is documented and confidentiality is established, we will discuss the costs associated with preparing your idea for presentation to corporations for possible licensing.
2. How do I know you’re not going to steal my idea?
We are as concerned as you are about your idea, which is why one of the first documents you will receive from us is an Idea Security Agreement, which will allow you to record your idea and claim ownership to it. We will only discuss your idea with you after the document is signed by both parties or initialed online. We consider confidentiality a top priority when working with clients.
3. Do I need a patent to work with Davison?
Davison provides services to clients at all stages of development. So whether you have a patent or not, Davison would be happy to work with you.
4. What can Davison do for me that I can’t do myself?
Basically, Davison offers years of experience in presenting new ideas to corporations. Our product development experience and our exclusive development method has allowed us to uncover and maneuver around certain obstacles encountered when pursuing the development of a new idea.
5. Can another person and I be inventors of the same product?
While you cannot prevent people from coming up with the same idea, you can act before they do to keep from losing out if they pursue it first.
6. What happens if I see my idea on the market and I haven’t pursued it yet?
Unless your new idea has features not included in the product that is on the market, you really don’t have anything new to offer to the consumer. There is nothing to stop you from taking an existing successful product and attempting to make it better, however, so that is something you may want to consider if your initial idea is on the market.
7. What does your company do?
Using our years of experience, we work with corporations and individuals with new product ideas to prepare and present their ideas for possible licensing to corporations.
8. Are there other companies like Davison?
There are certain companies that offer partial services, but none that combine all aspects of new product development like Davison’s exclusive development process, which prepares and presents inventions to corporations for possible licensing.
9. Can I tell people about my idea?
We recommend that you do not publicly disclose your invention/idea to anyone (not even a friend or a family member), unless you have confidentiality documents in place to verify that you are the originator of the idea.
10. Should I make a prototype of my idea?
At the early stages of submitting your idea to our firm, we don’t require you to do any more work than necessary. The confidential documents that we provide you with will allow us to discuss your idea.
Answers for Myths
1. I heard people can sell their ideas.
It is rare or unheard of for a person to sell an idea that is still in the concept stage.
2. I heard or was told that I should patent my idea first.
The assumption that the first thing you should do when you have an idea is get a patent generally only benefits people who stand to gain from filing the patent. Patenting should always be considered at the proper time, which is not necessarily at the beginning of the idea process.
3. I heard I can pursue an idea with a company at no cost.
While there are ways to pursue an idea at little or no cost, at some point you must allocate time, energy and money to develop your idea. If a company assumes the total cost and liability associated with pursuing an idea, chances are they will want the rights to the idea, which is something you surely would not want to give up.
4. I can make a lot of money from my idea. (I can be rich.)
While history has shown that some inventions have made a tremendous profit, it is important to realize that the success of the invention depends on the product, the problem it solves, the manufacturer and current market conditions. Davison can not project, promise or guarantee that any submitted ideas will be profitable.
5. I have the best idea in the world.
You may believe that you have created a new or better way of doing something that could impact the lives of many people. But even the best idea is useless unless it is pursued and developed properly.
6. A lot of product ideas make it to market.
It is true that each year many new products are introduced into the marketplace. Of the total ideas that are pursued worldwide, only a small percentage make it to market.
7. All product ideas make money.
We tend to hear the stories of successful products and never of the ones that fail. The truth of the matter is, of all the new products in development, most of them don’t make money.