It was seen that the works of founders of States, law-givers, tyrant-destroyers, and heroes cover
but narrow spaces and endure but for a time; while the work of the inventor, though of less pomp,
is felt everywhere and lasts forever.          - Francis Bacon Preface to a Treatise on Interpreting Nature




The Design of Everyday Things

Every inventor should take this free online course. Learn the basics of design and start observing and applying design principles.



How to Design Breakthrough Inventions

A CBS interview of IDEO founder David Kelley


How to Build a StartUp

In this free online course, learn the key tools and steps for building a successful startup (or at least reducing the risk of failure).

Friday, May 20, 2022

May 2022

          The best way to make your dreams come true is to wake up. —Paul Valéry

We now have our own dream catcher.  It’s a book, Inventor Confidential: The Honest Guide to Profitable Inventing, that tells inventors how to keep the nightmare of empty promises from ruining their sweet dreams of financial success.  The author, Warren Tuttle (independent contractor for external open innovation, Lifetime Brands; past president, United Inventors Association of America), kindly summarized his book for us.  The first half of the book is about product development, the second half is about what interferes with financial success.

There are two ways to bring an invention to the marketplace: indirectly (by licensing (ie, renting) or by selling the invention to others who bring it to the marketplace) or directly (by arranging for all of the steps yourself: production, tooling, landbridging, shipping, warehousing, fulfillment, sales teams, orders, collecting money, reinvesting money, etc.).  Either way, the odds of success are low for an independent inventor because the vast majority of inventions are not salable.

Licensing to a large company is obviously the easier way.  It provides less potential profit for an inventor (typically 2-7% of wholesale profit) but transfers the risk of failure to a company that acts as an angel investor by providing brands, resources, and capital.  The odds of financial success are still low but at least the inventor does not fail to get the invention to the marketplace.

Getting the best licensing deal requires preparation.  Ask experts in the industry to vet the inventive idea so you can learn what the challenges are to making it profitable and to learn if it has legs.  (To be profitable, your invention must uniquely solve a problem that is big enough to interest a significant number of customers.)  The bases of a licensing deal are a physical prototype and a patent.  So develop a prototype of the invention to prove that it can be built and that it works and to help identify its patentable traits.  And patent the invention to acquire ownership of intellectual property that can be licensed.  Then prepare marketing materials: a sell sheet describing benefits of the invention and a video showing the invention providing those benefits.  Practice communicating politely and effectively with buyers.

There are two main ways to ask a large company for a licensing deal: indirectly (through an an inventor submission/marketing/coaching company) or directly (through a company’s open innovation program).  In general, an inventor is best served by the direct way.  Why?

If you have a dream, there will always be someone who wants to sell something off of that dream to you.  During gold rushes of the old West, people selling shovels and pick axes to miners made more money than did the miners.  Today an inventor submission/marketing/coaching company selling to inventors makes more money than do the inventors.  Such a company takes submissions from inventors, prepares the submissions for licensing by adding prototypes and patents, and represents the inventor to companies that practice open innovation (the art/science of looking outside of the company for new products).  Or the company offers an inventor advice on how to do the same.  The marketing message is that this process is easy, simple, and results in a gold mine for the inventor.  These companies do not buy from inventors, these companies sell to them.  The primary goal of this business model is financial success of the company, not of the inventor, because no one can reproducibly pick a winning product.  This business model is driven by cash flow, taking a lot of money up front from a naive inventor in exchange for information and products that often do not help the inventor and for advice that is often nothing but thin air.  Usually only the company makes money because the odds of financial success for the invention are low.

In contrast, an inventor can skip the middleman and directly ask the open innovation program of a large company for a licensing deal.  Such a program buys from inventors (ie, licenses inventions from them) and does not sell to them.  The primary goal is joint financial success of the company and the inventor.  This business model is driven by profit for the company and for the inventor.  The odds of success are still low but a prepared inventor has nothing to lose and everything to gain.  If no company wants to license your invention, recognize this as an opportunity to fail fast and move on to your next and better invention.

Which method do you prefer?  Feel free to hire an inventor submission/marketing/coaching company.  But do so while you are awake with your eyes wide open.  Ask the people who will work with you what their relevant business experience is.  Ask for data: what fraction of their clients get a licensing deal; what fraction of those make enough profit to pay for this company’s services; what fraction of those make a net profit from their inventions.

If you want free help with open innovation or a free evaluation of your invention, consider submitting a description of your invention to Tuttle Innovation.  This company is paid by companies that practice open innovation, not by inventors.  The site has links to educational videos and podcasts.  You can also contact companies that have open innovation programs directly.  For example, Procter & Gamble, which sources 50% of its products through open innovation, has an open innovation page hereMarketBlast offers a free platform for directly submitting inventions to companies looking for specific products.

Thank you, Mr. Tuttle, for writing your book, for advocating for inventors, and for sharing your valuable time and talent with us!

Saturday, October 16, 2021

October 2021

Want to build a prototype of your invention?  Has Machyne got the place for you!

Alex Bandar, PhD (executive director, Machyne) believes that everyone has the potential to be an educated and empowered innovator.  If you can imagine something, you can learn how to, and actually, sketch it digitally in 2 or 3 dimensions for free.  YouTube shows you how.  Give that sketch to computer-run machines and they will create a prototype of the thing for you. If you need money for materials or for access to tools, run a crowdfunding campaign.  Show your prototype to a customer, investor, company, or retailer and ask if they will use your idea.  If they say yes, a global network of manufacturers, distributors, and retailers can spread your idea to markets worldwide.

Alex embodied his belief by creating a clubhouse for makers, first in Columbus, OH (Idea Foundry) and now in Indianapolis.  Machyne makes it easy to move an idea from your head into your hand.  Tools, classes, memberships, and a supportive community of people (artists, engineers, entrepreneurs, and innovators) who like to find and solve problems are available here.  Memberships start at $50/month/person.

Machyne offers classes on how to use its tools.  For example, there will be a class on how to use the Formech 508FS vacuum former on October 27 ($20) and a class on how to use 3D printing machines on November 3 ($40).

A wide variety of tools are available for use after you complete and pass a training session for each tool you want to use.  The workshop area has tools for metal fabrication, welding, CNC routing, CNC plasma cutting, CNC milling/turning, CNC waterjet cutting, vacuum forming, laser cutting, and woodworking.  The design area has tools for 3D printing, electronics, programming, and vinyl cutting and has design software.  The media area has tools for virtual reality, augmented reality, photography, videography, and podcasting.  An hourly fee for tool use ranges from $5 to $40 per hour.  Workbenches where you can store your own tools are also available.

Thank you, Mr. Bandar, for an exhilarating tour of Machyne!

Saturday, April 17, 2021

April 2021

Business is about relationships.  Benjamin Harrison (product developer; creator, SmartPitch; author, Licensing Ideas Using LinkedIn) told us how to use LinkedIn to approach decision makers and persuade them to join our teams.

LinkedIn is playing a bigger role for inventors.  Many trade shows have been canceled or have become virtual.  Many people won’t answer a phone call from an unknown caller.  Thousands of companies are looking for inventions but must be approached professionally.

The goal of using LinkedIn is to send direct and courteous messages seeking common ground to specific people.  Then, if common ground exists, move the conversation off of LinkedIn.  There is no need to create content about your invention or to be an influencer in order to get at least a 25% response rate from decision makers.

Build a community of people with compatible interests because you never know who might help you.  Start by creating a professional profile on exactly one LinkedIn account (a free account will do).  A mini-narrative portraying you as human and memorable will interest others.  That profile sells you—a product developer—to decision makers.    

Identify decision makers you want to meet by searching LinkedIn or sites such as Recruitment Geek.  They might be other inventors and product developers or employees of companies you want on your team.  Employees in marketing might be most helpful, followed by those in sales, followed by those in product development.  Pick people who have a lot of first degree LinkedIn connections because they can help you grow your community.

Ask them to join your LinkedIn network.  Limit yourself to 100 new connections per week to avoid portraying yourself as a spammer.

Then use traditional text or the more personal audio message to find common ground.  For example, “Hey ___, I’m sure it’s not your department, but do you know who @ (company name) takes care of open innovation submissions?”  Make the question short, specific, and easy to answer.  Act like you belong on LinkedIn as a product developer: get permission to send marketing materials; don’t show off or try to prove something; don’t ask for a time-consuming favor; don’t be pushy, no hard-sell pitches; don’t send a request in the “custom note” space unless you already know the recipient.

For more of Mr. Harrison’s insights, take a look at his free online videos or subscribe to his SmartPitch program, which includes access to a database of over 1,000 open innovation companies.

Thank you, Mr. Harrison, for sharing your practical wisdom with us!

 

Monday, November 16, 2020

November 2020

This is a brand new day, ladies and gentlemen.  A brand new day.

Sister Act 2: Back in the Habit

 

Sell first and sell fast.  Speed is the key to profiting from a simple, short-lived invention.  To increase our chances of quickly licensing our inventions, Stephen Key (inventor, author, speaker, and co‑founder of inventRight, LLC) recommends that we develop and use four selling tools: the point of difference; perceived ownership; a LinkedIn profile; and a list of companies that love open innovation.

The point of difference tells a potential licensee how your invention differs from marketed products and from prior art.  This gives a potential licensee two things: confidence that your invention has unique benefits that customers might want to buy; and the perception that you could own a place in the market for your invention (ie, get a patent).  A search for your invention on Google and in stores will show the difference between your invention and products like it in the marketplace.  A search for prior art will show the difference between your invention and products (made or imagined) that are publicly known.  Librarians in Indianapolis and in West Lafayette can show you how to find prior art.

Don’t waste time on a patent.  A patent is not useful because the time it takes to get a patent (typically 25 months) exceeds the life cycle of a simple short-lived invention.  But you need to persuade a potential licensee that your invention is marketable, that you potentially own a place in the market, that you could get a patent.  Create this perceived ownership by writing and filing with the U.S. patent office a robust provisional application to patent your invention.

A provisional patent application is an instruction manual on how to make and use your invention.  The application includes the invention’s point of difference, manufacturing information, and a detailed description and drawings of the basic invention and of all variations of the invention that you can imagine.  A good set of detailed drawings is especially important because it allows translation of plain language (in a provisional application that you write) into legalese (required in a nonprovisional application that a patent attorney/agent writes).  A provisional application can not itself lead to a patent but it does provide a timestamp for a nonprovisional patent application that can itself lead to a patent.  If a patent attorney/agent is writing your provisional application, be sure to lead the effort and say what aspects of the invention you want protected.  No one is as interested in your invention as you are.

A provisional application also provides perceived ownership by letting you mark products you sell as “patent pending” during the 1-year life time of the application.  This lets your competitors know that they could lose an investment in copying your product if you eventually get a patent for it.

When licensing to companies, sell yourself as well as your invention.  Companies need to know that they want to work with you.  Your LinkedIn profile is your sell sheet.  Create a complete profile that shows you as a professional product developer.  If you are not on LinkedIn, you are not in the licensing game.

The best way to protect your invention is to license it to a medium-size company that loves open innovation.  There are thousands of such companies.  After you have a list of companies, remove those having several complaints and lawsuits (search Google for each company name and the word “complaints”), those that don’t have a department that handles outside submissions, those that want you to sign a nondisclosure agreement heavily weighted in their favor, those who want you to have a patent, and those not on social media.  Then find which of the remaining companies fit your invention.  Understand each company’s mission, product line, price point, and target audience.  For example, PELEG DESIGN, which sells products worldwide, candidly says what it wants from inventors.  Then use LinkedIn to connect with a company’s marketing manager and ask if you may submit information about your invention.  When working with a company, act like you belong at the table and convey that you are easy to work with and are a team player.

Don’t buy what you don’t need.  You don’t need a prototype to interest a company in your invention.  Sell to a company the way the company sells to its customers.  If you can’t sell the benefits of your invention, why worry about anything else?  If a company is interested in your invention and it asks for a prototype, then build one.

Have fun but be smart.  Don’t buy into fear.  Sign a company’s nondisclosure agreement and don’t worry about theft.  The value of an idea is almost always in the work you do to bring it to market and no one is going to steal your work.

For more on licensing, see the wealth of information at inventRight: articles, books, coaching, courses, lists of companies, podcasts, videos, and more.  Both inventRight and IP Watchdog offer help with preparing a provisional patent application.

Thank you, Mr.  Key, for opening our eyes to this new way of licensing our inventions!

Friday, October 16, 2020

October 2020

Would you like to have the government (federal, state, or local) as your customer?   The government awards hundreds of billions of dollars in contracts to small businesses every year.  But not every small business is suited for that role.  Inventors Network KY treated us to an online presentation by Darrall Henderson (director, Kentucky Procurement Technical Assistance Center) that described what it takes to become a government (federal or Kentucky) vendor.

Becoming a government contractor involves a complex process that has its own vocabulary and requires a significant investment of time and money.  Educational resources on this process are available from several organizations: Indiana Procurement Technical Assistance Center, Indiana Department of Administration, Indiana Economic Development Corporation, Indiana Small Business Development Center, local governments in Indiana, the federal government, U.S. General Services Administration, Government Marketing & Procurement, LLC, Small Business Administration, and govology.

Thank you for introducing us to the wide world of government procurement, Mr. Henderson.

Sunday, February 9, 2020

February 2020


Would you marry someone you never met or dated?  No?  Then why would you start a business without knowing who your customers are and what they really want?

No entrepreneur wants to waste time and money on a nonviable company.  If you are thinking about starting a business, the most important question is whether you should start a business.

Bill Petrovic (workshop chair and mentor, SCORE Indianapolis; past vice president and treasurer, Roche Diagnostics) recommends using the lean startup method to answer that question.  It is an efficient method of approximation for developing a successful business model.  Make your best guess of what a successful business looks like.  Ask people whom you think are your potential customers what they think about your guess.  Adapt your guess to the feedback you get from those people.  Then ask again.  Repeat.  If you should start a business, this process will likely converge on a business model that profitably identifies your customers, what they really want, and your ability to provide what they really want.

Start the process by developing something simple to sell (a product or service).  This minimally viable product should include the fewest features that you think early adopters will buy at a profitable price to solve the core of some problem they have.

Then get out and do a reality check.  Talk face to face with at least 100 potential customers and see how they react to your product.  Include people who will pay for the product or who will influence the decision to buy.  If you are selling something for dogs, go to a dog park, not to a library.  Talk with people yourself, don’t delegate this important interaction to someone else.  Ask open ended questions.

Does solving this core problem matter to them?  If so, would they be willing to spend money to solve the problem; how much?  Will they buy your product now, as is?  What do they like and dislike about your product?  What additional features would make your product more attractive to them?

If this core problem doesn’t matter to them, they are not your customers.  But don’t waste this conversation; ask what problems do matter to them.  You might be able to develop something else for them.

After sequentially adapting your product to several rounds of feedback, you may have a product that potential customers really like.  When you have all of this information, develop a value proposition, a description of all features and benefits of your product that will induce customers to buy it.

Then worry about production costs and business partners.  Can you manufacture and distribute your product for less than the selling price?  Can you sell enough to make the profit you want?  If you like the answers to those questions, you are on your way to starting a successful business.

Several tools are available to help with this process. For example,  Mr. Petrovic has kindly provided the slides of his presentation.  Udacity offers a free online course on the lean startup method.  A lean startup template is available.  By appointment only, a librarian on the 4th floor of the Indianapolis Central Library will show you company business plans related to your interests.

Thank you, Mr. Petrovic, for helping the business community create jobs and for sharing your extensive expertise with us!

Some inventions patented by our members:

Bob Brand
3,179,907 Tuning system for television receivers
3,219,933 Television tuner switching system
3,241,072 Tuning control system
3,538,466 Television tuner cast housing with integrally cast transmission lines
4,503,740 Optical cutting edge locator for a cutting apparatus
4,503,896 Dog system for veneer slicer
4,601,317 Veneer slicing system
5,511,598 Veneer-slicer with remotely controllable blade angle adjustment
5,562,137 Method and apparatus for retaining a flitch for cutting
5,590,700 Vacuum flitch table with self-cleaning vacuum valve
5,678,619 Method and apparatus for cutting veneer from a tapered flitch
5,680,887 Veneer slicer with timing belt
5,694,995 Method and apparatus for preparing a flitch for cutting
5,701,938 Method and apparatus for retaining a flitch for cutting
5,819,828 Method and apparatus for preparing a flitch for cutting
5,868,187 Method and apparatus for retaining a flitch for cutting
7,395,843 Method and apparatus for retaining a flitch for cutting
7,552,750 Method and apparatus for cutting veneer sheets from a flitch

Kenton Brett
6023685 Computer controlled event ticket auctioning system
6704713 Computer controlled event ticket auctioning system
6907405 Computer controlled priority right auctioning system
7647269 Computer-based right distribution system with reserve pricing
7698210 Computer-based right distribution system
7720746 Computer-based right distribution system with password protection
7747507 Computer controlled auction system
7769673 Computer-based right distribution system with request reallocation
7992631 System and method for seasonal energy storage
8073765 Computer-based right distribution system with password protection
8128407 Method and system for teaching math
8538856 Computer-based right distribution system
8732033 Computer-based right distribution system with temporal variation
9614733 Methods and systems for reducing burst usage of a networked computer system
9900220 Methods and systems for reducing burst usage of a networked computer system

James Dougherty
8622039 Rockerless desmodromic valve system
9488074 Rockerless desmodromic valve system
9366158 Unitary cam follower and valve preload spring for a desmodromic valve mechanism

Ron Jackson
4,886,110 HVAC zone control system
4,943,039 Adjustable clamp
4,987,409 Level sensor and alarm
5,132,669 Level sensor with alarm
5,381,989 Adjustable spring clamp
5,944,098 Zone control for HVAC system
6,145,752 Temperature monitoring and control system
6,322,443 Duct supported booster fan
D347,596 Audible security alarm
D376,747 Door security device

Jerry McQuinn
D689,343 Universal Nutcracker

Richard McVicker
3,261,937 Three position snap switch utilizing interference blade means
3,319,477 Timer Escapement
3,332,704 Manually propelled treadmill vehicle
4,625,616 Thumb pick
6,309,076 Light barrier, screen or reflector
D240,237 Sculpture or the like
D356,653 Yard light
8389839 Thumb pick

Bill Pangburn
5,943,831 Device for Hauling Objects

Matt Thie
4,940,162 Rolled coin dispenser
4,844,446 Multiple-compartment currency stacker-sorter
4,940,162 Rolled coin dispenser
7,298,280 Lighted fluid flow indication apparatus
7,617,826 Conserver
8146592 Method and apparatus for regulating fluid flow or conserving fluid flow
8230859 Method and apparatus for regulating fluid

Don Walls
D707090 Torque key lever
RE36209 Door lock apparatus

Dave Zedonis
5,637,926 Battery powered electronic assembly for wheel attachment

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