[anet]

I have contacted Davidson with my new idea which saves lots of time and energy. My new idea was pretty simple but really helpful for everyone to use in every day bases. Davidson (Davison - turning ideas, inventions, and patents into products.) did the necessary research about the idea and created a portfolio for it. The next step was finding a company who will be willing to create the sample material. I have got a congratulation letter from a very well known (Car Part) manufacture and they agreed to manufacture the sample material. But the money they are asking is beyond my budget. So far for this new invention, I have spent almost $2,000.00. But it looks like I have to spend $5,000.00 more to take it to the final point. I wanted to know if this is normal. Why is it so expensive? If I give up now, I will loss the $2,000 that I already paid and the idea that I have already submitted. To be honest, I don’t have that much money to complete the project either. I feel like I am trapped with the situation. It becomes a loss loss situation on my side. Davidson advised me to find a sponsor to get help. I have no idea how to get sponsor on this. Especially when the information is confidential. I am an Engineer and I have lots of small and big ideas. But if ideas cost this much money with no guarantees how much you will be making afterwards, it is almost impossible for a regular person like me to manufacture new idea. Does anybody have any idea about a cheaper way of selling or manufacturing new idea? Also is Davidson trust worthy company? Please help?

[Fr_Chuck]

If you go though patenting, design, and into manufactor for 5000, using a business firm, that is sort of cheap. Now the issue is, after the do the sample product what are you going to do with it.

But depending on the machinary needed, you can make products in your garage, I know a company that makes farm plows in a shed, and so on. If you require special foam or plastic injection machines, or special medal bending or brakes if you own them great, if not it all costs 10's of thousands for many machines.

[anet]

Thanks Fr_Chuck,
According to Davidson, once the sample product is produced, we will target and present the sample to different companies like Wall-mart, Target etc for sale. The sample product is going to be a part for car and the company which agreed to manufacture the product is a car part manufacture company. They have done the study and agreed to manufacture it.
I was surprised when you say 5000 is cheap. Actually the price was 10000, they dropped it down to 5000 and the commission they will be making once the product is selling increased to 20%. It was 10% originally and 10,000 for expenses. Do you have any info how to get sponsor? I can't afford even paying $5000, I wouldn't mind sharing the profit after the manufacture and sale is completed, I really can't afford it at all.

[Fr_Chuck]

Well I may have issues with the 20 percent, but then 20 percent of something is still better than 10 percent of nothing.

But investors, you would have to sell a share or percent,
Or a loan of course.

My cousin is a patent attorney, one of the high class ones I understand, works in all of this electronic tech stuff. I have read the titles of some of his works and don't have the slightest Idea.

Just be sure it has gotten a patent and it is in your name. And have a independent attorney review any contract before you sign it.

[wingrun]

Here's my summary of what you should do:

if you really believe in your product and believe it can make you money then by all means take the necessary steps to come up with the first prototype. Assuming what you went through so far I say you strongly believe this product could be successful. I won't go into the business aspect as of product price, marginal cost and that stuff but I'll say if you forecast good sales then you should pay the manufacturer 10,000 and have them get 10% of the proceeds of sales.

as for where to come up with the money there are lots of sources. Are you in good financial condition? If so worst case scenario you can charge it on a credit card that charges you no interest for 1 year and then a fixed rate. Now I suggest this plan only if you can start expecting cash flow within the range of the credit card 1 year no interest period. Another method is finding investors. Once you get your product patented you can go meet people like you who understand the value of what you made. Another method is prosper. visit their website at prosper.com to learn more.

[anet]

Thanks for the advice, I am looking for a sponsor. Thank you though.

[350cj]

I hope you came to the realization that Davidson is a ripoff. They never receive an idea or submission they deny. Stay away from them!

[ntedes9745]

I think if you have a valid product you should bring it to a company that you know would want to sell it. They will help you get it to the market. Also if Davidson is going to make 20 percent on your product they should be willing to put up the rest of the money if they think they will make money in the long run. I am an inventor and I have contacted companies directly and it works.

[SOLAR -5]

Hi
First you need to search for invention development companies who won't rip you off - by charging you an arm & a leg.

One company I can suggest is Global invent -if you idea is good but cost effective not too hightech then these are the peaple you want - otherwise trust me as an inventor myself most so called invention companies are waiting to bank your money win - or - lose.

Good luck

Solar -5

[Zazonker]

Anet. I don't know what your idea is, but your statement "I invented new idea but can't afford to manufacture the sample product" implies that you don't actually have an invention. Unethical companies take advantage of people because they know they are dealing with an ego thing. The inventor "unfortunately you in this situation" doesn't have the money to build a sample product, bring it to market, etc. Most people with ideas don't know actually how the product could be built, have no idea if it will be mass marketable, and have no idea how to approach the mass market. Those companies will take advantage of you because they have no actual expenses related to your idea, so their revenue is whatever they can bleed out of you.

I do have a few thoughts for you.

An idea is not an invention. Most people who have "great ideas" for a new product don't understand (a) the actual engineering design of the product, (b) how to maximize the utility of the product, (c) how to manufacture the product (d) how to sell the product.

I have looked at many over the years - and FWIW - am in a position where I could finance one, so I'm not just blowing smoke - most of those ideas are - just bad ideas. For example, one dealt with diet and losing weight. The idea was: we just need to develop a substance that when added to food, takes much more calories to digest than it produces. I said, Great idea, but what is the substance and how do we make it. The answer was: that's up to the technicians.

My comment: You may have an idea, but you don't have an invention until you can define all that "stuff" that you'd like to "leave up to the technicians".

The ripoff dudes out there love a guy like this. They'll bleed him for all they can. They don't care if it can be built, works or any of that other stuff, because their revenue is -- whatever money you have plus whatever you can borrow!

My advice is:
(1) If you think you have a great idea, but can't answer all of the important questions stated or implied above and can't afford to hire someone to do that for you, give it up.
(2) Never pay anything to any company that advertises their services to inventors. I haven't seen one that it legit.
(3) If you have a great idea, develop it, work out the details on how it has to be done, do a rough business plan (minimal, meaning the important details, not all the boilerplate).
(4) Identify what you know, and what you don't know. Anything you feel is unimportant and can be left to the technicians, you probably need to solve first.
Good luck on this.

[Ganesanveloo]

Our Government do help those inventors to be a successful. If you willing to be a JV with 60% yours and 40% ours... if you agree, we can start talking about . Mail me >Removed<

[ntedes9745]

I used Davidson and they take you money and don't do a thing. Run a Google search on them you will get you answer. I have been working on my invention for 2.5 years and I finally got a license agreement. My I had made and patented which I have about 40000 invested. You need to find investor who believe in your product. Good investors to invest in a new product. Stay away from the big companies who want your money to look at your product.