Running an Invention Business

Related Ads

There’s a wonderful feeling once you complete your invention, step back and realize you’ve created something new and exciting – something that’s never existed before. It’s a realization that provides a unique satisfaction. Wouldn’t it be ideal if inventing consisted solely of the satisfaction of making your great technology and seeing other people use it?

Unfortunately, a lot happens between your completed creation of goods and someone else’s purchase or license of that invention. You will need help evaluating the commercial potential, setting up your business and then creating a means of profiting from that invention. While inventing can be inspiring, running a business can be exhausting, and sometimes dispiriting.

This section is an attempt to help with you all that “other stuff” and to offer tips for steering your business on a “no problems” course. This section provides most of the basic information you will need for maintaining an invention business – specifically starting and running your inventing business, choosing your form of business, record keeping, and hiring employees and contractors.