Campbell Soup Company is seeking your new invention ideas

Campbell Soup Company is looking for the next best invention idea for controlling moisture migration in breads. Moisture levels in bread are critical to maintain freshness, control microbial growth and modulate mouth-feel and texture. Potential solutions will allow Campbell to deliver an artisan quality, convenient consumer experience where bread maintains a soft interior and crunchy-crust exterior.

To learn more please visit www.campbellideas.com/challenge.php, register, and submit your ideas or contact New Product Consulting for assistance with the process at 888-680-4869.

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3d printing is making some serious advances!

3d Printing is really making some advances out there in the marketplace.  Where at one time you could only do plastics and smaller items the 3d printing industry is expanding into all areas.  Check out the story at the link below for further info into some of these areas.

http://www.cnn.com/2014/11/06/tech/innovation/foodini-machine-print-food/

If you have an idea and need help call us at 888-680-4869!

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New App for Fishing

New Product Consulting would like to congratulate Mike B. on his new fishing app that recently launched in the app store.

Hooked On Sport Fishing is the latest ocean sport fishing game that offers players an exciting, life-like fishing experience. Designed by a saltwater fisherman with twenty years of fishing experience, Hooked On Sport Fishing will appeal to both seasoned pros and novices learning how to fish. Now everyone can enjoy an authentic saltwater sport fishing experience day or night!

Our patent team enjoyed working with you Mike!  Congrats and we wish you lots of luck!  If you are a fishing enthusiast please check out Mike’s app at https://play.google.com/store/apps/details?id=com.hooked.on.sport.fishing

If you have an idea for a new product or mobile phone app contact us for a free consultation at New Product Consulting.

 

 

 

 

 

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Want to file a design patent?

An article in a recent edition of Inventor’s Eye outlined a new option for inventors wishing to file a design patent.
“Thanks to the recent U.S. implementation of the Geneva Act of the Hague Agreement Concerning the International Registration of Industrial Designs (Hague Agreement), a new option now exists for inventors looking for more global protection of their inventions for ornamental designs.

While the vast majority of patent applications filed with the United States Patent and Trademark Office (USPTO) are for utility patents, design patents are also an important form of intellectual property protection available to inventors. Design patents are used to protect the ornamental appearance of an article, such as its shape or the surface ornamentation applied to it, or both.

On May 13, 2015, the provisions of Title I of the Patent Law Treaties Implementation Act of 2012 implementing the Hague Agreement took effect in the United States. Under the Hague Agreement, an applicant having a U.S. nationality or having a domicile, a real and effective industrial or commercial establishment, or a habitual residence in the United States can file a single international design application in a single language through the USPTO or with the World Intellectual Property Organization (WIPO) to obtain protection for up to 100 designs in the contracting parties to the Hague Agreement. Prior to May 13, U.S. applicants generally had to file a separate application in each jurisdiction they wished to protect their designs.

In addition to the new option for filing an international design application under the Hague Agreement, U.S. design patents resulting from both regular design applications and international design applications filed on or after May 13, 2015, will have a patent term of 15 years from issuance.

Foreign applicants filing international design applications on or after May 13, 2015 can also designate the United States in their international design applications in order to pursue design patent protection in the United States.”

For help with an invention idea including patent help and a Free Consultation please contact us at New Product Consulting!

 

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Manufacture your invention or License it?

“I have a new invention that I’ve been working on. I’m just not sure how to actually go about producing and marketing my invention.  Do I need to arrange for manufacturing on my own, which seems like a challenging process in itself, or are there other options that I can explore for producing and marketing my invention?”

Ultimately, after securing a patent (or patent-pending) every inventor reaches a crossroads where they need to decide how to proceed with commercializing their invention.  Do they develop, manufacture and market the product on their own?  Or do they explore partnering/licensing with a company who will then bear much of the financial risks of proceeding?  Whatever the case, after the idea has been protected with a patent, the inventor must weigh these options and decide which one is the right choice for his or her specific situation.

If you are new to the business of inventing or are not really sure how an inventor actually makes money from an invention, consider the following options.

Licensing the invention for royalties:

A license agreement is when the inventor [licensor] agrees to let a third party [licensee] commercially use his invention for a period of time.  Typically, the inventor would receive either an ongoing payment called a “royalty”, (calculated as a percentage of sales of the invention) or a one-time lump-sum payment.  The company/licensee normally proceeds with developing, manufacturing and marketing the invention, which allows the inventor to shift these cost and risks to the licensee.  Also with licensing, the inventor can rely on the company’s experience and established business to boost the product’s chance of success.

Assigning or Selling the Invention:

When the inventor assigns his rights, he is permanently transferring or selling ownership in the invention/patent.  The inventor may receive a lump sum payment or a series of payments.  The difference between a “license” and “assignment” is in the transfer of rights.  With a license, the inventor can retain patent rights (like “renting” the patent), and with an assignment they transfer their rights (i.e., sell it).

Developing & Manufacturing the Invention:

Typically, entrepreneurs with aspirations of turning their inventions into a business where they would sell their product would be the best candidates for manufacturing.   Manufacturing and marketing an invention can be an exciting and rewarding approach for some inventors but the process should be looked at more as a business venture, as it requires the inventor to have substantial capital and a well thought out plan on how to develop, manufacture and market their idea. Manufacturing is very different than finding a company to license the invention, and should not be jumped into without examining the risks and carefully planning the best route for success.

If you choose the path of developing and manufacturing your invention on your own, you maintain far more control of your invention.  But you also assume the various risks and costs associated, such as: research, engineering, tooling, molds, inventory, warehousing, freight expense, distribution, etc.  You also assume the investment of your own time, which for many inventors who hold full-time jobs, is difficult.

For some inventions, little development and setup is required, which can simplify the manufacturing process.  Other, more complex inventions may require far more investment.  Minimum order requirements can also present inventors with a challenge, both financially and in terms of storage space.   For the inventor who finds these aspects of manufacturing to be too costly, too difficult or too much of a hassle, seeking a licensing agreement could be a more suitable solution.

Now that you have a better understanding of the options for commercializing your invention, it is easier to see why it’s important to think through the options and determine what makes sense for your situation.  It doesn’t make sense to select one approach such as manufacturing your invention when licensing may have been a better solution for your situation.

It is important to remember that while neither licensing nor manufacturing is a guaranteed success, taking the time to understand the options for taking your invention to market and thinking through what your goals are prior to leaping into either option will help you take the path that’s right for you and your invention as you continue along the road of inventing.  No matter which option you choose, New Product Consulting can assist you with everything you need!

For more invention information and a Free Consultation please contact us at New Product Consulting!

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Amazon launches new service to help inventors!

Good news for inventors that need help launching their new products!  Amazon is launching a new service to help start ups manage some of the more time consuming work involved with launching new products and running a business.

Amazon Launchpad will help handle inventory management, order fulfillment, customer service and more, allowing business owners and inventors to focus their efforts on the innovation that results in more cool products.

The company will feature products that have already been funded through venture capitalists, accelerators or crowdsourcing. Also, startups will be allowed to participate in Amazon’s Prime program.

If you have a new product and need help contact us at 888-680-4869 to talk with one of our specialists.

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New Product Consulting is happy to announce a new deal with QVC

After a great presentation at the National Hardware Show in Las Vegas this year we are happy to announce that QVC has chosen to work with one of our latest products, The Beverage Buddie!  Congratulations to inventor, Kim C. of the Beverage Buddie glove!  We are so happy for you that they have chosen your product!  We are expecting big things in the future from this relationship!  It is an honor and a privilege to work with the QVC team.  Big things to come Kim!

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