What do you do with ideas to improve existing products?

Comment

Comment by Debbie on October 26, 2009 at 9:54am

The company of the original product will absolutely NOT accept anything from individuals without an agent. They say so right on their website. So I did check into agents and what they do and how much it costs.. and while I still think it's a good idea, I'm not in the position to hire a company to present the idea for me. At least not right now!

Comment by Adrian on October 26, 2009 at 1:10am

Which plan did you eventually decide upon?

Comment by Adrian on October 9, 2009 at 7:15am

Hmmm ... back to Plan A: (i) either forget about it, or (ii) patent-pend the 'improvement' to the original (and, be prepared to proceed with the patent) and present a business case to the company.

They will probably take the "well, if we didn't invent it then it's no good" approach, or even the "well, we tried that way back in '87 [that's 1887] and it didn't work" approach. And, even if they do like it, they may still opt for the 'use the idea and let you just try and sue us!' approach ...

... probably nothing that a good patent attorney, a couple of years, and a few hundred G's couldn't fix.

Hey, if the idea is really good, they may at least say thanks and give you a case of that 'ice cold Coke' for your trouble :)

Comment by Debbie on October 9, 2009 at 6:33am

Something tells me it's not something I could actually market anyway. Let's take... Monopoly for example. (and it is just an example). Let's say you had an idea to make a new kind of monopoly- the basic rules of the game would be the same, the look similar or the same, but it would have one or two new features - like the newer version that has the ATM card for example. What if that was your idea... and it hadn't already been created. You couldn't create a new monopoly game with an ATM card could you?

In the real situation, the product and the trademark are both the same... I can't think of any other names the item goes by.

In my tiny market research circle (um... 4 friends, my mom and my aunt...) they all want a new-improved-thing - since I told them the idea. But an ice cold Coke is an improvement over a warm one, isn't it?

Comment by Adrian on October 9, 2009 at 1:41am

OK, large market well-penetrated by the 'big guy' ... but large opportunity for you IF you can even chip a little around the edges.

But, the biggest issue with most new products is MARKETING: can you actually sell the product? So, you should be able to see where I'm going with this line of questioning:

Therefore, my next question would be: do people think of the product by what it is/does (generic) e.g. "cola drink" or do they think about it by the name (trademark) e.g. "Coca Cola".

... and, does the world want a new-improved-drink, or do they just want an ice, cold COKE?

The honest answer to this question FOR YOUR PRODUCT is your first Go / No Go checkpoint ....

Comment by Debbie on October 8, 2009 at 9:34pm

fuggetaboudit... did you turn Italian?!

The Patent expired in the 1970's from what I can tell... although it seemed to only patent one part of the idea :) however, the existing item itself is registered trademark of 2 different companies (one for US and Canada and one for everywhere else in the world).

Marketability... all the same people who the big player originally targeted - only this time it'd be better, because it's my idea. Right now, one in three households around the world( i think this is an international number not just in the US) has the original, but they definitely need and want my new and improved one, without a doubt. (well, thats what I'm thinking right now anyway).

Comment by Adrian on October 8, 2009 at 7:12pm

Debbie,

The world is literally littered with 'good ideas', be they brand-spanking-new or twist-on-the-old. What the world NEEDS is good businesses, and these are few and far between. Of course, the difference between a good new/old idea and a business is in one word: execution.

Now, you are right about taking your idea to the current owners: fuggetaboudit :)

But, you COULD check to see if the current idea is patented (will have a patent number on it, somewhere - or, if a new'ish idea, might just say Patent Pending), if so you can search online to see if it is still current or when it expires.

Even so, you need to think about the marketability of your 'new' product as you are obviously competing with the 'big player in town' ... what's the potential cost/benefit on this thingamajig?