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Want to get a Prototype built

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  • 29-12-2006 11:16am
    #1
    GreenHell
    Registered Users Posts: 2,621 ✭✭✭


    Hi Guys,

    Looking into setting up my home business but first I need to cost the product that I want to sell. Would anyone one have any experience with getting a third party to make a prototype without them running off with the idea?


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    #2
    The Corinthian
    Closed Accounts Posts: 19,777 ✭✭✭✭The Corinthian


    GreenHell wrote:
    Looking into setting up my home business but first I need to cost the product that I want to sell. Would anyone one have any experience with getting a third party to make a prototype without them running off with the idea?
    A standard NDA should cover you in theory in any preliminary discussions with such a firm. You should also register any brand names or trade marks prior to approaching anyone to build a prototype. Another option is to send a summary of your product by registered mail to your solicitor (thus creating proof that you already had the idea at a particular date).

    On a practical level, by the time you're ready to create your prototype, you should be at a point where you will have a significant amount of research on the product and its prospective market. Few companies are going to try and steal another's idea (business idea's are frankly two-a-penny), and very, very few would be tempted to steal an idea when you have such a massive lead, in terms of groundwork.

    In short, if you've very little groundwork done, then it's not yet time to get a prototype made.


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    #3
    Do-more
    Registered Users Posts: 4,748 ✭✭✭Do-more


    GreenHell wrote:
    Hi Guys,

    Looking into setting up my home business but first I need to cost the product that I want to sell. Would anyone one have any experience with getting a third party to make a prototype without them running off with the idea?

    Perhaps you can give us a little more info?

    How do you anticipate the final product to be constructed? Metal, plastic? (injection moulds can be very expensive)

    Are there any electronics?

    If you believe that you have a unique product you may be better off looking at patenting it first and then interest companies in paying you a royalty on what they manufacture and sell.

    invest4deepvalue.com



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