Product Development

There are six steps to take to develop a product, from a concept to something that is ready to manufacture:

• Feasibility
• Engineering Design
• Prototype Manufacture
• Testing and Evaluation
• Manufacturing Details
• Intellectual Property

Each of these steps are explored below.

Feasibility

Before any expensive work is undertaken, a Company must be satisfied that the idea has the kind of potential that warrants the significant long-term investment that will be required to develop the idea. The concept has to be both Original and Marketable.

Original

This does not just apply to patents, but to all forms of prior art which includes scientific articles, newspapers and even showing someone at the local park. So, in addition to the basic patent search, it is recommended that a literature search is undertaken to find out if there are any similar products in production without cover of patent, or even just in general use.

Marketable

There will always be a competing product, for instance, before the telephone, there was the letter. It is necessary to estimate the maximum cost per unit of the new product before it becomes un-competitive. In addition, an evaluation of the current market gives an estimate of expected turnover. The combination of these should give a good indication whether it is worth proceeding.

Engineering Design

This encompasses a whole range of elements from the aesthetic to the functional. An overall approach needs to be taken, bearing in mind final cost, manufacturing requirements, intended materials, market appeal, standards and the durability required of the product. To reduce the need for expensive repeat prototypes, it is recommended that a series of virtual tests are undertaken to eliminate the majority of flaws before prototype manufacture.

Prototype Manufacture

Prototypes vary in appearance and functionality from a basic functional model to the fully finished display model. This work can be contracted out to experts. However, make sure that whoever you engage is fully aware of the importance of confidentiality and will respect each product as if it were their own.

Testing and Evaluation

In some cases, this is merely to establish that the product works in the conditions it is intended to. In others, such as those intended for medical purposes, testing is more rigorous, since the product must meet E.U. and USA regulations before it is allowed into the market place. Again, like prototyping, it is often necessary to pass on this element to companies who are experts in this field.

Manufacturing Details

If the product is not licensed, or if the product is developed for a company who intends to manufacture for themselves, it is important to plan a full manufacturing strategy. This gives a very clear indication of what is required to go into production, allowing a comprehensive Business Plan to be drawn up. This can be a selling point for individual inventors who can both add value to their licensing package, and also answer the questions that a large number of companies ask. The reality is that most companies will turn down an idea because it is easier than trying to evaluate its potential. They are often more ready to consider a proposal if the majority of the work has been done for them.

Intellectual Property

The most obvious form of this is Patenting. There are other forms of intellectual property such as copyright, design registration and know-how, which may be more applicable to the product in question than patenting. Advice from a Patent Attorney should help to clarify which area of intellectual property is most suitable for the idea.