1. File a patent, pronto!
If you believe that you have invented a new product, you will need to apply for a patent to be granted for that product, ensuring that noone else can steal your idea and claim it as their own.
However, within the UK, there are a number of laws regarding patents, all of which are documented within The Patents Act 1977. The Patents Acts 1977 clearly states that a patent may only be granted for an invention that adheres to the following conditions:
a) The invention is new
b) It involves an inventive step
c) It is capable of industrial application.
It also goes on to state that a patent will not, and cannot be awarded for the following:
a) A discovery, scientific theory or mathematical method
b) A literary, dramatic, musical or artistic work or any other aesthetic creation whatsoever
c) A scheme, rule or method for performing a mental act, playing a game or doing business or a program for a computer
d) The presentation of information.
The law also states that a patent shall not be granted for an invention that violates or contradicts public policy or morality, so if your invention is considered unethical in any way, you will not be granted a patent.
If you believe that your inventions meets the requirements outlined above you can apply for a patent online.
However, we would strongly recommend hiring a professional to read over your patent application before you send it, to ensure that you have entered all information correctly and your chances of approval are as high as possible.
2. Understand where you stand when it comes to copyright laws
When it comes to copyright, your product is automatically protected if/when you create:
- Original literary, dramatic, musical and artistic work, including illustration and photography
- Original non-literary work e.g. software, web content
- Sound and music recordings
- Film and TV recordings
- Broadcasts
The chances are, if you’ve created a product that can be granted a patent, it won’t fall under copyright laws and therefore this section will be irrelevant to you.
>However, if you have created an artistic piece of work or any online piece of software/web content, your work will automatically be covered under copyright laws. As such, you are free to mark your work with the copyright symbol, your name and the year of creation.
3. Figure out your target market and start getting to know them
If you’re hoping to sell your new product or artistic work, it is important to know exactly who you’re hoping to sell your invention to and how they work.
Getting to know your customer is crucial, especially when launching a completely new product, so do your research and if necessary, source external support to help you figure out a marketing strategy and nail this aspect as early as possible.
4. Ascertain how much your product is worth
The best way to ensure that your product/artistic work doesn’t sell is to value it over and above its worth. While you might believe that you’ve created the best thing since sliced bread, if no one else agrees, your invention/creation will be unlikely to succeed.
That is why research is critical. If you can conduct the necessary research to ensure that you value your product correctly, as well as accurately estimating your overheads, you will be able to market your work effectively and ensure that it is as successful as possible.
5. Start getting the word out
There’s no chance of your product or artistic work succeeding if it is kept in a cupboard under the stairs and hidden away from the world.
If you want your work to succeed, you have to shout from the hills and tell the world of its existence, ensuring that you consider many different methods of advertising (social media, online forums, print and media).
While some might initially sit slightly out of your budget, there are ways to advertise your product without breaking the bank, so utilise the cheaper platforms first and then, if necessary, gradually build up to larger platforms, such as nationwide adverts and billboard adverts. When it comes to marketing your creation, the world is your oyster!
Just ensure that you have a plan and a budget in mind before you start, and try to stay within this budget for as long as possible.
See also: What makes your business card great
Further reading on starting a business
