ForumsStarting a Business

Help, jerry3009, I took out my crystal ball and looked into it.
Basically it tells me that I need more info.
It sees your new idea, it sees the patent attorney.
It does NOT see a Business or Marketing Plan.
It is also cloudy on your finances?? Do you have the necessary funds.
Finally, it wants to know how soon you can start this business and then
let the big fish buy you out.
Good luck, LUCKIEST

jerry, Thanks for sharing. Where are you located??
Good luck with the bankers.
Do you know about SCORE?? SCORE is FREE and they offer great advice.
LUCKIEST

Based on your patent attorney's conclusion (and the fact that you've really avoided offering us any explanation about the idea itself), I'm guessing that your concept is not all that complex, and that it (or a similar one with the same application) is currently being developed by other people, as well. I'm also guessing that once the concept hits the market, nothing will prevent it from being quickly copied and possibly improved on (provided it really is a multi-million dollar idea). Consequently, my suggestion would be to focus your energy (and professional fees) on branding, a trademark, and being the first to get this to market.

Since you most likely can't protect the competitive position of "only" in the marketplace (no matter what you do), I'd concentrate on securing and protecting the competitive position of "first" -- the innovator -- where the marketplace links your company's name with the product. In fact, you could brand and trademark the product, and then create a company with the same name. In this case, the big fish might be more inclined to buy (instead of eat) the small fish innovator, especially if the name gains market traction right away.

Hope that helps. Best wishes.