Page 37 - 597 Business Ideas You can Start from Home - doing what you LOVE! (Beginner Internet Marketing Series)

26 Your Idea, Inc.

According to www.uspto.gov, the website for the u.s. Patent and

Trademark Office, more than seven million patents have been issued

as of early 2008. That's a lot of unique ideas! The purpose of this

search is to be sure your idea can be the next one assigned a pat­
ent. Don't falsely convince yourself that you have a unique product
or idea only to be blindsided later, either by seeing your idea in the
marketplace or, worse yet, by a lawsuit.

To begin, visit www.uspto.gov and search their patent database

by entering keywords that describe your product. Use specific key­
words, but don't conduct so narrow a search that you might miss
related products. When you click on a particular product, the web­
site will show you who owns that patent, when it was filed, and

exactly what was patented. The descriptions are sometimes quite

lengthy, as they need to clearly separate one patent from another.
The site will even show images that describe how the product

works. Another website that has a patent resource is www.google.
com/patents. Be aware that there are critical time requirements for

filing patent applications in certain circumstances. For this reason
alone it may be worth the money to consult a patent attorney sooner
rather than later.

As you review your competition's patents, really think about the
little nuances that make your product more valuable and different.

Research

Once you've discovered what patents exist for products like
yours, it's time to learn more about the other products, companies,
and sales outlets within your industry. You should look at competi­
tive products, newspapers (for industry or new product news), trade
magazines (for industry news), and any other relevant sources.

Read your competition's sales pitch, consumer reviews, and
product specifications. Then search for articles about your particu­
lar industry. Be sure you know how the industry typically fares in
different economies, where its products sell best, and which prod-