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Irwin Law
Irwin Law, Attorney
Category: Intellectual Property Law
Satisfied Customers: 7404
Experience:  Lawyer & Real Estate Broker, 30+ years, foreclosure, land contracts, inheritance, probate.
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Is it possible to sell a potentially lucrative product idea

Customer Question

Is it possible to sell a potentially lucrative product idea to a company. Tricky part is the product exists but in a different form the redesigning of it or changing of its form while making it fun it is a totally awsome idea that i dont want to just give away. and I cansee the potentiall for millions and millions of sales the products new form would be fun reach completely un tapped ,markets world wide. The commercials would drive the sales much higer.
Submitted: 1 year ago.
Category: Intellectual Property Law
Expert:  Irwin Law replied 1 year ago.

I am going to transfer your question from general legal to intellectual property where someone can better assist you.

Customer: replied 1 year ago.
thank u do I have to re submit the question
Customer: replied 1 year ago.
the product has a huge following this addition could create endless profits.
Customer: replied 1 year ago.
its hard to give more info without totally giving it away.
Expert:  Irwin Law replied 1 year ago.

I see that no one has pick up your question yet. I can you give you a very general answer from the general legal and business standpoint. Will that be satisfactory, even if at the end am going to tell you to obtain the services of a local attorney in the intellectual property field.

Customer: replied 1 year ago.
i guess so sir. I just did not know if it was possible i appreciate your help
Customer: replied 1 year ago.
A large demographic i feel would be drawn to this im its altered form
Expert:  Irwin Law replied 1 year ago.

Yes, it is possible to sell an idea such as yours to a company that can produce and market it. The main thing is to protect against someone stealing the idea. This is done by having a professional prepare a nondisclosure agreement). The agreement is signed by anyone who you wish to show the idea too. A patent attorney would be the best person to contact for legal information on the subject. Then you can learn whether or not your idea is patentable or not. I would avoid using any of the online type of promoters who offered to market your invention for you. They always charge money upfront, because they are seldom successful. You are better off dealing with a local attorney individually. I hope that this information is helpful and that you will enter a positive rating for it. I wish you the best of luck in your venture.