Invention Assessment

An invention assessment, also called an invention evaluation, marketability research, or product evaluation means looking at your new invention to find out what its market worthiness is. Would anyone buy your invention? Can it be made at the right price?

Purpose of an Invention Assessment

Getting an invention assessment serves two main purposes: one, you find out if it is worthwhile to put more money into a certain idea and two, when you are trying to raise venture capital , sell or license your ideas, you will be ready with the hard facts that can impress a potential investor or buyer.

Only a tiny percentage of patents ever make a profit and it is better for the independent inventor to understand that fact and act upon it. You are a very creative person by nature, maybe one idea does will not work out but another one might. In a very competitive market, you need to be able to objectively decide if your new invention will be able to do all of the following:

• Can fulfill a consumer's needs or desires.
• Can be manufactured and sold at the right price, sold at no more than five times what it costs to make.
• Can be delivered to market, a way to distribute your product is in place and the market opportunity is established.
• Can pass safety, legal, environmental and performance expectations or standards.

If your new invention cannot pass all of the above criteria and your intention is to make money, you would be better off moving on to your next idea. It is an excellent idea to evaluate your new invention early in the development stage. You can start with your own opinion and that of close friends, but it is unlikely that you or your friends have an objective opinion or the research ability to understand and determine if your new invention can meet the above criteria.

Use Caution Before Hiring the Wrong People for an Invention Assessment

Many invention promotion firms offer invention or market evaluations, but they cannot give you an objective opinion since they have a stake in the fees they are going to charge you for their services. If you have not done so already please read Invention Promotion Firms & Avoiding Scams and How To Avoid An Invention Company Scam . These companies fail to tell you that only a small percentage of new inventions make money. They charge you an arm and a leg to patent and market your invention and they do not want you to think your invention could possible fail.

Use a Confidentiality Agreement

Before hiring anyone to make an invention assessment for you, you must first sign a non-disclosure agreement if you have no patent protection. A non-disclosure agreement (also known as a Confidentiality Agreement) is used when someone with an unpatented idea shows it to another party, and wants that party to maintain as confidential any information.

What an Objective Invention Assessment Professional Can Do For You

A few reputable companies do provide honest assessment services for an up-front fee. Fees for these services range about $175 to $500 and up, some will include a preliminary patent search, some will market your product if they think it is superior.

The forementioned directory lists companies that come with good recommendations from successful independent inventors and inventor groups, for example, the Innovation Assessment Program at Washington State University. They will evaluate your new invention and provide you with a report that covers: environmental impact, potential market, usage learning, service, new competition, production feasibility, investment costs, product line potential, promotion, price, payback period, marketing research, stability of demand, consumer/user compatibility, perceived function, potential sales, safety, societal impact, product life cycle, product viability, durability, functional feasibility, development status, trend of demand, need, appearance, protection, profitability, research and development, distribution, product interdependence and existing competition.

Other companies in the directory will provide similar materials and all of them will let you know what you buying for your money upfront.

That brings us back to point two of why you should conduct an invention assessment, "when you are trying to raise venture capital, sell or license your ideas, you will be ready with the hard facts that can impress a potential investor or buyer." Can you answer all of the questions by yourself that a professional report answers? Do you want to be left speechless at a business meeting? Do you want to appear naive? You can also use an invention evaluation report as a starting place to improve your new invention's marketability. You will have your invention's weaknesses listed and you can try to change them.

A professional invention assessment is invaluable, however, you can do a preliminary self-assessment by yourself.

In part one of this feature we discussed the purpose of conducting a marketability evaluation of your new invention. Again, it can be stated that a professional invention assessment is invaluable. However, you can do a preliminary do-it-yourself product evaluation before deciding to hire a professional. Or if your finances do dictate that you cannot hire a professional then a do-it-yourself product evaluation is very important to help you decide if you should spend more money on your invention.

Also check under No Budget Miracles for economical alternatives.

Do-It-Yourself Product Evaluation

Get a pad of paper and write down everything you know about your invention concerning its: legality/regulatory, safety, impact on society including benefits and novelty, aesthetics, performance, profitability, market demand and size, potential for new markets, development status and time to market, manufacturing costs and methods, pricing, competition, consumer appeal, product drawbacks, licensing potential, inventor's reputation or track record, and intellectual property protection status.

Aids to Self Evaluation - Articles & Questionnaires

• Invention Evaluation Checklist
• Invention Evaluation Form
• Article on Product Evaluation Concerning Safety
• Stanford's Invention Evaluation
• Surveying Your Friends

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Top Ten Top Ways to Fail as an Inventor

Don't waste your time and money avoid the common pitfalls most inexperienced inventors make.

1. Fail to Record Your Inventing Progress

Detailed records of the concepts, test results, and other information related to making an invention should be kept in a logbook. You can start a logbook from the very first moment you think of an idea. Proper record keeping can be used as proof of the conception date of an invention. The best way to prove that an idea is yours is by maintaining an inventor's journal or logbook. Your logbook should be a bound binder with pages numbered consecutively.

2. Fail to Actually Make Your Invention

You can't sell ideas - you can only sell inventions. Build a prototype or working model of your invention and test it out. So many inventors think that their ideas are total genius and think that they can sell those ideas for lots of money. Why? Are you lazy? Do you have idea what the invention process is about, it's about inventing and not just thinking about it. Its an enjoyable process inventing. And business people will have much more respect for you and your ideas when they see how dedicated you are to making them a reality with a little elbow grease.

3. Believing Promotion Company Hype

Can you give your great invention to somebody and expect them to build, test, patent, manufacture, sell it and then send you a big fat check for a million dollars. If you need help at any stage of the invention process experts suggest that you hire professionals on a piecemeal basis. There can be conflicts of interest involved in hiring one company. How can a you receive a fair opinion about your invention, if a negative review might deter you from buying more of their services.

4. Getting Too Attached to Your Invention

It's good to believe in yourself and have determination, however, keep your grip on reality. Before selling your house to heavily invest in your invention do what is called an invention marketabilty assessment to help you estimate your product's chances of success. Know when it's time to move on to your next great idea. More »

5. Revealing Your Invention Too Soon

As soon as you reveal your invention to the public or anybody that has not signed a confidentiality agreement with you a one year countdown begins. Now you only have one year to patent your invention if you want to do so. More »

6. Already Been Invented

You don't want to end up infringing on somebody else's intellectual property rights. Conduct what is called a search for prior art. That means checking to see if anybody else has already patented an invention similar or identical to yours. More »

7. To Patent Or Not To Patent

There are arguements from both sides on this point. However, some experts suggest not spending the time or money on a patent, instead they suggest taking your invention straight to the marketplace. Only a tiny percentage of patents make money. If your invention is a very simple item you might want to consider that approach. Did you know that one very successful invention that was never patented was Rubik's Cube? More »

8. Patenting Badly

A patent application is a legal document and you cannot expect to "spend one evening filling it out," the better written the patent, the better the protection your patent will produce. Think of it as a contract for your invention, where every single word has impact. Hire an intellectual property lawyer that has a background in the technology that is part of your invention. More »

9. Acting Unprofessional

Yes you might be a eccentric inventor, however, that is no excuse to act unprofessional whenever you are conducting business related to your invention. Write your letters and emails professionally. Dress appropriately during business meetings. Anticipate the questions you may be asked about your invention and prepare your presentations.

10. Putting All Your Eggs in One Basket

When you are trying to sell or license your invention, you should select at least twenty to thirty different potential buyers. More »

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History of Model Trains - Joshua Lionel Cowen

Model trains are toy train replications modeled after real trains, that are built with accurate scale and appearance after the real trains they were fashioned after.

Real trains and railroads did not come about until the 1800s, hence real toy model trains could not have existed before that time period. The first miniature trains were built by unknown German toy makers, beginning in 1830s, these miniatures were molded in metal similar to the many toy soldier figurines of the day. Toy trains were soon being made across Europe, however, the first model trains were hand-crafted and expensive, made as original and novel one-offs by toy makers, tinsmiths, clock smiths, music box and instrument makers, and anyone else who had the necessary skills. The early model trains also did not function as moving trains, they were hand-pushed at best. One of the first moving powered model train was a steam-powered toy train called the Dribblers and the Piddler invented by Sir Henry Wood.

1891 Marklin

However, it wasn't until 1891 that a milestone in model train history occurred with the introduction by the German manufacturer Marklin of the first mass manufactured toy model train set. This was a complete train set that came with a track, the train was powered by a wind-up mechanism, and the set was expandable, additional trains and track were offered to customers.

Marklin also set the international standards for train scales, they introduced the first five gauges of toy model train sizes, and the O, Ho, and Z scale sizes. These sizes refer to the scale of the model toy trains as compared to the real sized, real trains the toys were modeled after. For example, the tiny "Z" scale trains are 1:220 scale, meaning for every 220 inches of real train there is a 1 inch accurate reproduction in the "Z" scale toy model train.

American Model Train Manufacturers

Founder of a real train company, the Baltimore Locomotive Works, Mathias Baldwin created a model toy of a passenger train in the 1830s, one of the first examples of an American built model train. George Brown and Company of Connecticut is created the first self-propelled American model train in 1856, the model was propelled by a wind-up clock mechanism.

However, America is known for its mass-produced model train makers, during the late 1890′s and early 1900′s, three now famous toy train manufacturers were established, Ives, Lionel and American Flyer.

Joshua Lionel Cowen had a real passion for trains. Cowen was an inventor of sorts; he developed a fuse to ignite photographic flash powder. Though the invention failed in its intent, the U.S. Navy bought up the fuses to use with underwater explosives.

Joshua Lionel Cowen finally achieved the success he really wanted: he was the person who successfully mass manufactured toy model trains in 1900. As happened with the fuses and the flashlight, Cowen was actually trying to invent something else when he invented toy nodel trains. He originally intended to create a store window display, a battery powered toy car that traveled on a circle of track. People wanted to buy the display more than the real merchandise for sale. Joshua Lionel Cowen went on to start Lionel Model Trains.

• Lionel Trains

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Undercover Colors

Ankesh Madan, Stephen Grey, Tasso Von Windheim and Tyler Confrey-Maloney are undergraduate students at North Carolina State University. The foursome have invented a nail polish called “Undercover Colors” that changes color when it detects common date rape drugs like Rohypnol, Xanax, and GHB (Gamma-Hydroxybutyric acid) present in a person's drink.

The team of four students won the Lulu eGames student competition, which was sponsored by North Carolina State’s Entrepreneurship Initiative to "challenge students to design working solutions to real-world problems", the prize was seed funding for their new venture Undercover Colors. The four students were all majors in Materials Science & Engineering. Much of the research for Undercover Colors was done at a lab at NC State's College of Veterinary Medicine where DEA scheduled drugs were allowed for research purposes and the team's faculty adviser was Nathaniel Finney, an organic chemistry professor at the university

How Undercover Colors Work

 Imagine you are at a bar or party and someone offers to buy you a drink, or perhaps you have been on the dance floor dancing and have left your drink unattended. What if your drink was somehow spiked with a date rape drug without your knowledge? A "date rape drug" is one of many substances that after ingesting could leave you incapacitated and unable to fend of unwanted sexual advances.

There are several products on the market that can detect the presence of an unwanted substance in your drink. For example, the Anti Date-Rape Strawinvented in Israel by Fernando Patolsky and Michael Ioffe. Undercover colors is a similar product that comes in the form of a nail polish, a combination of chemistry and cosmetics.

Quite simply, the person wearing the nail polish stirs (or perhaps discreetly dips) the nail polished finger into the drink in question. If any of the date rape drugs that Undercover Colors is able to detect is present in the drink the nail polish will change color to alert you.

The Controversy

As of this writing, none of several similar anti-date rape drug detection products are widely available for consumers to buy. The products need to increase their efficiency (less false positives, less failures to detect) and increase the number of possible drugs detectable. While other critics such as theHuffington Post state that

"well intentioned, products like "Undercover Colors" actually perpetuate rape culture by placing the burden of safety back onto women. Let's stop getting distracted by gimmicks like this and talk about real solutions to the growing violence against women."

According the inventors of Undercover Colors,

Through this nail polish and similar technologies, we hope to make potential perpetrators afraid to spike a woman’s drink because there’s now a risk that they can get caught. In effect, we want to shift the fear from the victims to the perpetrators. We are Undercover Colors and we are the first fashion company empowering women to prevent sexual assault.

An admirably statement, however, how many rapes and sexual assaults involve a date rape drug? Ninety percent of the time a drug is involved with date rape, alcohol was that drug.

Well I agree with Huffington that the issues surrounding rape should be addressed, discussed, and acted upon by our society. However, I disagree that the availability of an invention that detects a date rape drug would put the burden of safety back on the victim. The perpetrator is and always has been the problem. And women need to be aware that too much alcohol consumption can also put them in a vulnerable position.

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