Maybe you have a keen mind for inventing, but you don’t have much of a business mind. Or maybe you both are fine, but instead of beginning a full-scale company you’d better focus your time on developing ideas.
Fortunately, an option is available that ideally meets your needs: to license your innovation concept. Licensing is simply the way to market the invention to a corporation that will grow it entirely and take up all the corporate activities involved with launching a new product.
Licensing can also be a great option for those with extremely limited financial means. So how does one sell an idea about an app to Google?
Yeah, it’s the age of information— meaning, the more information you’re armed with, the better. It’s no exception to license the design. Before even considering marketing your proposal to prospective firms, make sure you are consistent in the following areas:
Know your market
That involves getting as much input on your own concept project as possible. Focus group testing is a good way, even between friends and families. You also need to compile information on similar and competing products, for example, about what is available, what sells and who produces it.
Do some legitimate legacies
Go as far as you can to see whether the invention is patentable or can be created on other patents filed without infringement.
You must launch a preliminary patent quest. More information on regulatory issues or necessary legal actions can also be collected. The better.
Dig at processing
Learning about the production process can be incredibly helpful, particularly if your innovation involves unique materials or manufacturing techniques.
Prepare a qualified presentation
You will need to apply all the relevant information to prospective licensees once you have collected it for selling app ideas to Google.
In addition to your most effective instrument, a three-dimensional prototype model, you should create a simple selling sheet which conveys all the information you have gathered.