I am a PATENT ATTORNEY and I am telling you: DO NOT patent your idea!

When great ideas are born, we are enamored by their beauty and potential…. And just like a newborn baby, we want to protect it. So we rush out and find a Patent Attorney and — BIG MISTAKE! — file a patent application costing thousands of dollars.

DO NOT VISIT A PATENT ATTORNEY – UNTIL YOU COMPLETE THESE FOUR STEPS:

STEP 1: Document your idea!

Write down your idea in as much detail as possible. This written record is called an "Invention Disclosure." (For a sample Invention Disclosure, click here.) Written records establish the important dates of your idea for an invention and your line of thinking as the idea evolves from a first glimmer to a money-making idea. Keeping a record of your idea also stimulates further thinking, and keeps you moving towards transforming your idea into money.

STEP 2: Go Shopping!

Before spending too much time, and energy and money on your idea, you want to ensure that your idea for an invention isn't already on the market. An easy way to start is to go shopping at places that sell products that are similar to your idea. Hopefully, you won't find a product exactly like your idea.

Also, another benefit of shopping is that it ALWAYS provokes useful ideas, always. As you examine the existing products, you'll begin to imagine how to improve your idea and make it different and more desirable than existing products.

Also shop on the Internet, which is now the major marketplace in the world. Find 'key words' that relate to and describe your idea — words such as 'weight loss,' 'inflatable,' 'electric' or 'wind-up.' Your concept of your own idea gets sharpened by finding key words that separate your idea from those of potential competitors. Use the Google search engine. It's easier than you think — and it PAYS OFF!

STEP 3: Do a preliminary patent search!

ANYBODY CAN DO A PATENT SEARCH! — Yes, that is so! Anyone who has access to a computer can find out, often in minutes, how original their idea is.

A preliminary patentability search can be done on the Internet — you can do it yourself.

The goal of a patentability search is to find existing patents (called "prior art") that are similar to your idea for an invention. You can do the search for FREE on the US Patent Office database at www.uspto.gov. HINT: When you reach the Patent Office home page, click on "search" under "Patents." Help can be found at www.uspto.gov/patft/help/help.htm. Don't expect your search to find every relevant patent because ALL patent searches are limited — no search is completely comprehensive.

STEP 4: Do a market study!

How big is the market for your idea? And who are the potential buyers? How much would they be willing to spend on your idea? There are easy ways to determine the answers to these important questions.

A market study is SIMPLE to do! One way is to visit the local shopping mall and look for products that are aimed at the buyers you imagine for your idea. Examine the existing products in the same category as yours: consider their costs, their packaging, and their presentation.

If your idea is for an invention that is a necessity, such as a can opener or shoes, than the market will be enormous. But if your idea is more of a luxury product, than the market will be smaller but the profit will be greater.

By using the internet, you can determine the sizes and spending habits of those population groups toward which your product idea is aimed. Based on all the information you've collected, you can make a reasonable estimate of how much money your idea can generate.

AFTER you have a thorough written description of your idea, feel confident that no one else has already invented it, and have assessed that you can make money on the idea, THEN you are ready to see a Patent Attorney — and to save a lot of legal costs by doing the four steps.

To sum it up, ideas, when they are first born, are fragile. They can easily be forgotten. They need to take initial form in writing. They need to be dated and, ideally, witnessed. They need constant attention to make them grow. And they need to be protected to ensure they remain yours. Eventually, they will leave the nest and send home money for all that you have given to them.