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Subject:
Commercializing a patented invention.
Category: Business and Money > Advertising and Marketing Asked by: tvpedaler-ga List Price: $10.00 |
Posted:
25 Aug 2002 17:48 PDT
Expires: 24 Sep 2002 17:48 PDT Question ID: 58443 |
OK, so I invented the TV Pedaler (www.tvpedaler.com), an exercise device that easily connects to your TV. You sit in your own comfortable chair and you have to pedal in order to view the screen. Stop pedaling and the screen goes blank. As a physician I think it's a great idea for those who need a bit more motivation in order to get exercising. According to some statistics I've read that's millions and millions of Americans and it is leading to a multi-billion dollar epidemic of premature disease in adults and children in this country. So why am I having such a hard time marketing it and why can't I get some one or some company interested in licensing it? If I have to do it all myself, how can I get a government grant to help build my small business? What ablout a celebrity endorsement? Why do I constantly read to stay away from invention marketing firms that ask for up front money, but can find none that work on a contingency basis? Would the government itself be interested in promoting it? How about McDonald's or Burger King. 95% of companies I've contacted don't let me get past the secretary answering the phone? How should I proceed? and remember..."Just Say NO, to the COUCH POTATO!"® |
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There is no answer at this time. |
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Subject:
Re: Commercializing a patented invention.
From: expertlaw-ga on 25 Aug 2002 20:11 PDT |
That's a lot to answer. I just want to post a comment in relation to one of my pet peeves - "invention marketing" companies that make their money not by finding markets for investions, but by charging enormous fees to investors. (Why don't they work on a contingent fee basis? Because they rarely find buyers for inventions, and exist primarily to defraud inventors.) A few months ago I heard an inventor being interviewed on NPR, describing his own experiences trying to market inventions. He found that most companies simply weren't interested in acquiring other people's inventions, even when they could obviously benefit from doing so. One of his most lucrative inventions was not producing royalties after a sale - it was producing royalties after he successfully sued a compan for infringing his patent. It can be a difficult world for inventors. |
Subject:
Re: Commercializing a patented invention.
From: googled-ga on 26 Aug 2002 05:07 PDT |
First issue is that no matter how much you hate the reality, and no matter how great your invention or technology is, the Thomas Edison quote of "1% inspiration and 99% perspiration" still very much applies. In the end, nearly all businesses are nearly 99% about sales, marketing, and operations and NOT about the technology. Second issue is that, in my opinion, you are selling something that people fundamentally have no compelling reason to buy. Nearly everyone who has an interest in bicycle-like home exercise can buy a "real" exercise bike for around the same price and probably has already done so. You are basically asking them to not use their existing bike but instead to set it aside and buy a new one. A suggested approach would instead provide an attachment to existing home exercise bikes (a MUCH bigger market!) so that they have a renewed reason to use and justify their prior purchase. A $19.99 add-on to existing home exercise bikes would seem infinitely more appealing to the potential buyer and thus also to potential licensees, investors, etc... Best, Ed |
Subject:
Re: Commercializing a patented invention.
From: digger-ga on 12 Oct 2002 09:09 PDT |
You are probably having trouble because the area is already saturated with somewhat similar devices. The concept has been around for several years and nobody has been successful with it. For example see: U.S. Patent 5,246,411, and numerous web sites talking about the idea (it has also been mentioned in the concept of video games several times) NO Free Ride http://sincentral.jrn.columbia.edu/sloth/sloth2.html Article: Exercise bike televisions: a new treatment for childhood obesity? Pediatrics June 2001 Unless your version has very significant advantages over those previously proposed (cost, features, benefits) there is no reason for anyone to license it over the exisiting versions or to prevent them from just creating their own version. A thorough search of the prior art before filing for your patent could have anticipated this problem. One solution is to produce it your self. But since none of the prior art has had great success in the marketplace, it might be a very risky undertaking. Digger |
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