Questions
It depends upon the type of idea, complexity, and the services that you want. There is no initial cost to speak to our staff. Once your idea is documented, confidentiality is established, and we know more about what you have and want, we will discuss the costs associated with preparing your idea for presentation to corporations for possible licensing. All terms and fees will be in writing.
We are as concerned as you are about your idea, which is why one of the first documents you will receive from us is an Idea Security Agreement, which will allow you to record your idea and claim ownership to it. We will only discuss your idea with you after the document is signed by both parties or initialed online. We consider confidentiality a top priority when working with clients.
Davison provides services to clients at all stages of development. So whether you have a patent or not, Davison would be happy to work with you.
Basically, Davison offers years of experience in presenting new ideas to corporations. Our product development experience and our exclusive development method has allowed us to uncover and maneuver around certain obstacles encountered when pursuing the development of a new idea.
Unless your new idea has features not included in the product that is on the market, you really don’t have anything new to offer to the consumer. There is nothing to stop you from taking an existing successful product and attempting to make it better, however, so that is something you may want to consider if your initial idea is on the market.
For people who have an idea or an invention (the inventor), we are their resource for pre-development, as well as, the development of the invention idea. When ready, we can pitch a product for licensing consideration. We select the corporation for product licensing by considering various attributes of the overall project. Prior to the product pitch, we consider the inventor’s goal and the problem & solution the product is solving.
In addition, we consider the needs expressed to Davison by our corporate partners. Due to our longevity in the industry and the relationships, we have built over time, for many corporations, we are their outsourced research and development facility. When meeting with our corporate partners for a product pitch, we present inventions from our “invention vault” inventory. We make a point to show off products that fit the corporation’s current and future product lines. The idea is, we work to fit the right product with the right corporate brand.
Additionally, we brainstorm and invent new products that are aimed at meeting their specific requests. We are proud to say, for over 30 years, this approach has been strategically executed during every pitch!
We recommend that you do not publicly disclose your invention / idea to anyone (not even a friend or a family member), unless you have confidentiality documents in place to verify that you are the originator of the idea and that the person you are disclosing to will keep the idea confidential.
At the early stages of submitting your idea to our firm, we don’t require you to do any more work than necessary. The confidentiality documents that we provide you will allow us to discuss your idea.
Myths
It is unheard of for a person to sell an idea that is still in the concept stage.
The assumption that the first thing you should do when you have an idea is to get a patent generally only benefits people who stand to gain from filing the patent. Patenting should always be considered at the proper time, which is not necessarily at the beginning of the idea process. The team at Davison will educate you on all of your options. Not all invention ideas will require the same paperwork. You can be strategic with your money and time if you consult with a professional before making a decision on what and if you will need a patent.
While there are ways to pursue an idea at little or no cost, at some point you must allocate time, energy and money to develop your idea. If a company assumes the total cost and liability associated with pursuing an idea, chances are they will want the rights to the idea, which is something you may not want to give up.
While history has shown that some inventions have made a tremendous profit, it is important to realize that the success of the invention depends on the product, the problem it solves, the manufacturer and current market conditions. Davison can not project, promise or guarantee that any submitted ideas will be profitable.
You may believe that you have created a new or better way of doing something that could impact the lives of many people. But even the best idea is useless unless it is pursued and developed properly.
It is true that each year many new products are introduced into the marketplace. Of the total ideas that are pursued worldwide, only a small percentage make it to market.
