Inventors are some of the icons of the industry, working hard to create new products for the public.
The image of Tesla or Bill Gates, inventing in a garage or primitive laboratory comes to mind when thinking of an inventor, InventHelp Inventors but engineering and development costs have increased dramatically, and invention today occurs more often in corporate laboratories and research and development departments, yet 20 percent of U.S. patents are granted each year to private inventors.
A skilled inventor can still turn good ideas into significant sums of money. In addition to being creative, successful inventors must also be effective entrepreneurs.
Developing a useful product is only the first step in the process. The inventor must also be able to negotiate a favorable licensing contract with an established manufacturer or have the means to become an entrepreneur and engage in the business of manufacturing his ideas.
Designs must be developed that avoid infringing existing patents, and investors must protect themselves from others who would copy their existing design. Knowing the fields or background of the inventions makes inventors' lives easier, both when developing new products and when assessing the value of the inventions as they are developed.
New invention development is time-consuming and often costly, and revenue does not begin to flow until a marketable prototype is ready. Many inventors work part-time as inventors and spend the rest of their time in jobs as engineers, research scientists or in academia.
Still, a good idea is worth following.
With rare exceptions, a career or degree in science or engineering is a must. Many private inventors spend years working as researchers for private corporations before developing the ideas that allow them to establish themselves.
Experience in product design and development is crucial, as is knowledge of the potential market for the new product. Years of work in industry or academic research are the best methods for acquiring the skills of a successful inventor.
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