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The plan
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Dan Peterman
frameracer

I am completly new to the inventing scene and after a few discussions with disreputables wanting me to send them cash and my great idea I can see it’s a tough business. I am thankful to have found this site with so many like minded individuals in one place.

Here’s where I’m at. I have a working prototype and have been trying to figure out the best method to get this product to market without losing my idea. I have started a page at legalzoom to file for a provisional patent but I’m hesitant on this method because I don’t want to mess it up so early in the process and funding is probably my #1 issue.
Only because I believe if I had a million dollars, everybody would have one under their tree next year. Don’t laugh too hard. I know everyone believes that. It is a very good idea though. What I’m hoping to find is someone who does have the money and know how to get it under every tree and not leave me out of the loop. What kind of things should I be doing now? Send me a line and help me get this thing off the ground. Best wishes this holiday season.

posted December 21, 2008 12:55 (
)

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Toni LaCava
toni
191,750
Insider Points

Hi Dan, Welcome to EN. Today is a little slow -
it’s the weekend. During the week there are
many more on the forum. I am sure they wll all
come on and greet you and help you anyway they
can. Have a nice day.

posted December 21, 2008 13:36 (
)
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Greg M
cowbell
106,250
Insider Points

Welcome Dan. You are in the right place.

posted December 21, 2008 14:53 (
)
kalelkent's Avatar
Mark Tanguay
kalelkent

You sound like the perfect candidate for a Live Product Search.

“Challenge: Ho! Ho! Ho! Christmas Tree Shops is looking for new holiday decor items and gifts to put under the tree!

Challenge ID: CTS186

Deadline: Mon, Jan 26 2009 11:59PM – Pacific Time (US & Canada)

Details:
As a subsidiary of the home product wonderland Bed Bath & Beyond, Christmas Tree Shops has 40 stores serving up year-round holiday cheer. One of the country’s most beloved retailers, Christmas Tree Shops sells not just the expected holiday decor and decorations but also just about any gift you could ask for under your tree.

Don’t let the name fool you; Christmas Tree Shops offers an annual assortment of fun, useful and traditional items. Christmas Tree Shops selection of categories includes:

- Toys
- Kitchen gadgets
- Household furnishings
- Small appliances
- Novelty gifts
- Holiday decor & decorations
- Food prep items

When developing your submission, ask yourself these questions:

- Can my product be put on or under a Christmas tree?
- Does my product make a good gift?
- Will my product make people happy?
- Does my product solve a problem?
- Is my product an incredible value – a bargain that can’t be missed!
- Can my idea be easily explained or demonstrated in a visually interesting manner?
- Can Santa’s elves make my product in less than 12 months?

posted December 21, 2008 16:43 (
)
markreyland's Avatar
Mark Reyland
markreyland

Hi Dan….welcome to the forum….the best fun you can have with your close on…

Inventing is a blood sport – there are some really great folks and some not so great folks – here we just try to get out the facts, educate people, and help wherever we can…..

As I’m sure you have picked up by reading these threads…there are a couple way to get to the same goal line – basically licensing an idea or partially developed product to a manufacturer for a % of sales – and developing the idea to the end and getting it into retail yourself.

No right or wrong way….just different.

That’s step one…educate yourself about both tracks and then figure out what one is best for you, your invention, and your family!

Please feel free to ask all the questions you want….there is sure to be someone who can help.

posted December 21, 2008 18:38 (
)
heather30's Avatar
Heather S.
heather30

“Hi Dan….welcome to the forum….the best fun you can have with your close on…”

ummm, Mark- what pray tell, are “close”?

posted December 21, 2008 18:57 (
)
markreyland's Avatar
Mark Reyland
markreyland

It’s an old Chinese tradition where you go to bed with just one sock on your left foot….

silly girl…I thought everyone knew that…..

posted December 21, 2008 19:00 (
)
heather30's Avatar
Heather S.
heather30

ahhh, i see, Confucious say, “Man who go to bed with close on wake up with cold foot” yes, I’m familiar, thanks…

posted December 21, 2008 19:06 (
)
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Account Removed
accountremoved

hahaha…

welcome Dan :-)

posted December 21, 2008 19:36 (
)
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Brett Juilly
brettfromla

Dan, you’ll find a lot of bad humor amid the good inventing advice and the supportive group of fellow inventors.

posted December 21, 2008 19:40 (
)
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Mark Reyland
markreyland

It’s the price Brett…you have to pay the piper buddy

:)

posted December 21, 2008 19:41 (
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rjlinnovations's AvatarRest In Peace
Ron Komorowski
rjlinnovations

Dan…you must hit the books. The books about inventing that is. This field is not so much complicated but you need a great collection of specific information to even think about playing the game or else you will just get spanked, robbed of your idea and sent away crying.

When you make a deal with a good size corporation, that is one of the grandest contracts that can be written in the sense of power and importance. You cannot come off the street to get this done correctly as one mistake and all is lost. Some study is necessary…atleast so you can recognize your lawyers and licensee are doing the right thing for you.

Here at this forum you can clear up anything you don’t quite understand after you read about it. Also, get yourself a subscription to Inventors Digest. Every month is filled with information you just must know….unless you don’t mind losing…

Ron Komorowski
Inventor of Handi-Straps
www.handi-straps.com

posted December 22, 2008 05:47 (
)
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Trent Rousey
tmrousey

I would say everyone is right…..read, read, and read. But first off, do some research to see if you want to license, start your own company, or what direction you are planning on going. Just my experience….that part was the hardest beginning decision for me…..Trent

posted December 22, 2008 06:59 (
)
frameracer's Avatar
Dan Peterman
frameracer

Hi. Thanks to all for the advice and humor. I think at this point I need to be able to share this idea with people without a patent. Any thoughts on this matter? I know I can’t do it all but it is conceivable to begin a limited production and see where it goes from there. I’m sure the right people would be able to make the most of it. Once I’m able to show my product, I’ll be able to solicit funding. Has anyone heard of loaning money on a percentage of the patent? Anyone interested in taking a look at what I’m working on I would be happy to show with a well written NDA. Thanks again all.

Dan

posted December 22, 2008 08:24 (
)
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Trent Rousey
tmrousey

If you have a nda, I would be glad to give you any advice I can offer.

Thanks…Trent

posted December 22, 2008 08:40 (
)
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Toni LaCava
toni
191,750
Insider Points

Me too Dan, I would be happy to help out and sign
your NDA on your product.

posted December 22, 2008 11:40 (
)
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Mark Tanguay
kalelkent

Dan,

The key line that suggested the Live Product Search was

“What I’m hoping to find is someone who does have the money and know how to get it under every tree and not leave me out of the loop.”

Aside from beening really trustworthy guys, EN has a pretty solid NDA reputation and commitment. Their reputation is more valuable then any product.

Additionally, if the Christmas tree shop (or any other search sponsors) should decide to rip you off, they are also ripping of EN, who happens to have the funding and the lawyers to make things right.

If you have the time and money, you should move forward with the patent application. If you want your product under every tree next year, I would go with EN. If it doesn’t get picked, you can enter it into another search, or you can opt out and you’ve only lost a little time, and $25.00.

posted December 22, 2008 19:56 (
)
frameracer's Avatar
Dan Peterman
frameracer

Hi

At this point I need to focus on funding. I think that is the #1 thing holding me back. Thanks for the feed back Toni. You brought up some good points in your note. I am confident I can expand the hard core gamer crowd especially looking at pedal and wheel sales so far this year. This product will expand the hard core gamer crowd by lowering cost as well. I’m not terribly concerned about shelf space considering the vastness of the net although a few products at gaming shops is feasable. I seen a gaming chair at Wal Mart that must have been a complete flop but it shows atleast an attempt at the gaming market. MarkT it does sound appealing to get this thing in Live Product Search but I’m not sure it fits in The Christmas Tree store’s genre. Maybe I have a misconception of the program. Thank’s for the input though. Hope all are enjoying their holiday week with friends and fam.

posted December 23, 2008 07:56 (
)
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