I'm looking for advice on how to make the most out of a possible invention I have. I say possible because I have not started the patent search.
Basically, I have an idea, design, and prototype. I have two possible investors interested in funding (patent and R&D) and marketing/selling the product. Obviously, I could do all this on my own, but honestly I don't have the time or the contacts.
Has anyone here ever gone through this? What can I do to cover my a$$? What would be the best way to structure the deal with my investors?
A little about the product. It would be high volume (10's of 1000s). It would cost about $5 to manufacture and would sell for ~$30.
I have the design documented so I'm not really worried about someone running off with the idea. I already have a couple patents so I have been through the process from the design side. I'm really wondering what a typical deal would be when you pull investors into the mix.
Thanks
Basically, I have an idea, design, and prototype. I have two possible investors interested in funding (patent and R&D) and marketing/selling the product. Obviously, I could do all this on my own, but honestly I don't have the time or the contacts.
Has anyone here ever gone through this? What can I do to cover my a$$? What would be the best way to structure the deal with my investors?
A little about the product. It would be high volume (10's of 1000s). It would cost about $5 to manufacture and would sell for ~$30.
I have the design documented so I'm not really worried about someone running off with the idea. I already have a couple patents so I have been through the process from the design side. I'm really wondering what a typical deal would be when you pull investors into the mix.
Thanks
