Can your invention, once it enters the market, cover all the costs associated with delivery it to the customer? Can you make money after all of the manufacturing and assembly costs, the sales and marketing fees and commissions, the distribution revenue sharing agreements and any necessary logistics support?
Logistics support includes maintenance and repair, replacement parts inventory, return policies, training and any other associated fees and services that may be required to keep your invention in the hands of a happy customer.
Will your invention earn enough to get an investor excited? Investors, whether amateurs or professionals, seek a return on their investment usually measured in ROI. There are professional patenting offices like InventHelp that will help you in your process. Does your invention have the potential to deliver a good ROI in a reasonable amount of time?
There are many other compensation related issues, but these are the key ones. Notice, we haven’t mentioned you getting a dime yet, unless of course your invention is 100% self funded, then you should be a very prudent investor and seek a reasonable ROI for yourself.
You can do everything else right, get this wrong and lose it all. Control includes your intellectual property protection such as patents, trademarks, trade secrets and copyrights as described by patenting professionals from Invent Help.
It also includes issues such as your rights in licensing and partnering agreements. You will probably need some type of help to get your invention to market. Just make sure that you don’t lose control unnecessarily while you are getting that help.
