Assessing an Invention or New Products Potential for Success

"FOR IMMEDIATE RELEASE"
Melbourne, Victoria, Australia April 4, 2006

Assessing an Invention or New Products Potential for Success

INVENTConnect is a new Australian Business that helps inventors submit their new product ideas and inventions to industry and also provides promotion services for manufacturers and distributors wanting to announce the release of new products to market.

There are many methods used for evaluating an Invention, New Product or Innovation and at INVENTConnect, the initial client meeting is often the first chance we have for an objective assessment of the Inventor as well as a personal meeting session to discuss the Invention.

The formal agenda for an initial client meeting is generally always focused on the idea, the invention or product and any promotion issues, such as the clients objectives, the scope of the invention or idea to have potential, any charges or fee arrangements, and the like, however what is often more important to note is that throughout this meeting the client and the invention consultant are also evaluating each other.

The client is often seeking clarification, advice, direction, technical ability or indications of competence and of course any questioning will typically centre around these questions, however, the client is also wondering:
1. Can I trust this individual or this business to work for me?
2. Will they work with me and will they reflect what I want to do?
3. Do they understand what I need to get from this relationship?
4. Will they fit into my ideas of what and I can do?
5. Will they take advantage of me or rip me off?
6. Can I afford to do anything they want to do?

At the same time, the Invention consultant is working through a range of their concerns:
1. Does the client understand how to work with their Invention and that the road is often longer than they expect.
2. Do they understand the how the invention works?
3. Is the opportunity good enough to make the necessary decisions as to the next steps?
4. Will they come looking for a ‘blame agent’ if things don't work quite as good as they expect?

During the first meeting, INVENTConnect is often are asked about the merit or worth of an Invention and whether a Patent is a good thing to do for an Inventions protection.

The answers to these questions can vary as much as the inventions being presented.

INVENTConnect does not actually assess Inventions but one thing for sure, Inventors often head into the patenting process for protection without understanding that getting a patent is sometimes best left to a specialist and is not a once-off transaction.

There are often more additional filing fees and even possibly examination costs to maintain the patent and inventors will need to consider the likely costs at the various stages down the track and identify the costs of patenting in Australia as well as overseas.

David Craker, Operations Manager for INVENTConnect says; "We can provide our Clients with a range of referral services to our clients based on the professional services that they need in order to advance their invention and is not because we have any vested interest in receiving any commissions.”

“INVENTConnect provides assistance and general advice with Patents for Inventors and offers Inventors a referral service to Independent Patent Attorneys and IP Lawyers. For the record, INVENTConnect accepts no commissions from Patent Attorneys, IP Lawyers or other parties for referrals.”

David added "Where we differ widely from others offering these types of referrals and services is that we provide a complete range of low cost, pay as you go services. These are able to be taken individually or as part of an overall marketing and development plan which is really a type of living document or process and best described as one that can be assessed and fine tuned as it runs it's course."

David also commented that; "In the longer term every inventor knows what his costs will be and the process is totally transparent. An Inventor knows what is happening at every stage in the commercialisation process and so the inventor can track how effective the process is with regards to their financial commitments and this is designed to be totally measurable.”

This can be seen as quite positive and in direct contrast to the high fees and fuzzy commitments often read about with complaints about other invention promotion firms.

Just take a look at the list of complaints at the USPTO website: http://www.uspto.gov/web/offices/com/iip/complaints.htm

Judging by these published complaints, some invention promotions firms may show little or no regard to the effectiveness of their efforts and results.

With INVENTConnect, the best news is that the Inventor and not the Invention Submission Company is in control of the terms of the marketing and promotions process.

For more information about their Invention & New Product Services or to arrange a no obligation consultation meeting, contact David Craker at INVENTConnect in Melbourne, Australia on +61 3 90173279 or email admin@e-itsolutions.com.au and ask how they can help you with an idea, an invention or new product release.

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