I need help determining if my new product idea is a realistic one?
I won't go into specifics but it would be a range of products that use GPS technology. I am in the UK.
I am only at the 'idea stage' and therefore I would like to know how I can go about determining if there is already a similar product on the market and how I can find out if my idea (and hopefully the resulting product range) can be protected by a patent or something similar. My worry is that because GPS technology is available to anybody I will not be able to bring the products to market without being blown away by a company with more experience and financial power.
Public Comments
- You will have to do a patent research. Many entrepreneurs hire lawyers and specialized researchers to look for the info for them. Searching for patents is not an easy task -- as you may not be aware that step 1 of the manufacturing of your product is patented
- Patent research first, imisidro says - with hardware software this is particularly difficult as there are numerous licensing implications on top of this. Whatever the idea is, if you're a startup you're better off looking at the component route (e.g. combined with GPS your bit forms an essential part of the solution) that you can license for distribution, rather than a vertical solution that tries to do everything for the customer in one package, which has both patent/license complexity and more likelihood of direct competition.
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