Designing & Licensing A Product
Discussion
I have some ideas for four "tools" and for two "products" relating to the electrical contracting industry, I'm 99% certain theres a market as I would use them for all of my own jobs and my staff would happily use the "tools". Everything would be priced sub £20 (tools) and the products would be sub £1 each, but used in larger numbers and are needed on most commercial jobs. Both the tools and the products would appeal to all cable related trades i.e fire alarm installers, AV installers, intruder alarm installers and it's not country-specific, so they could be used all over the world.
The products are very useful, can save time and money and potentially also money in cost of purchase as well compared to the alternatives. I've not seen anything on the market like it. I think the two product ideas are patentable but haven't looked into it yet. One of the products is so simple to design and manufacture I'd be tempted to pursue it on it's own.
The tools aren't new, there are competitors, my idea is different/better, potentially cheaper than alternatives but I wouldn't necessary be looking to be the cheapest.. One of the tools may be patentable, the others not.
All tools would be made out of solid ABS plastic and are fairly similar, they aren't complicated and are all fairly similar.
I have a lot of stuff on the go and no real capital so manufacturing myself is probably out of the question. So where does that leave me? Do I need to get them properly designed, prototyped and patented then approach a market leader in the industry? How do you even come up with a licensing deal and how do you know how many they sell etc? Has anyone done anything similar and actually got anywhere with it?
The products are very useful, can save time and money and potentially also money in cost of purchase as well compared to the alternatives. I've not seen anything on the market like it. I think the two product ideas are patentable but haven't looked into it yet. One of the products is so simple to design and manufacture I'd be tempted to pursue it on it's own.
The tools aren't new, there are competitors, my idea is different/better, potentially cheaper than alternatives but I wouldn't necessary be looking to be the cheapest.. One of the tools may be patentable, the others not.
All tools would be made out of solid ABS plastic and are fairly similar, they aren't complicated and are all fairly similar.
I have a lot of stuff on the go and no real capital so manufacturing myself is probably out of the question. So where does that leave me? Do I need to get them properly designed, prototyped and patented then approach a market leader in the industry? How do you even come up with a licensing deal and how do you know how many they sell etc? Has anyone done anything similar and actually got anywhere with it?
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