As an inventor, there are many factors to consider before developing a new product. Two of the most important factors to consider are originality and marketability.

Originality

Nearly 200,000 patents are granted to various companies and inventors every year, so before doing anything else, it is essential that you make sure the idea for your product is original. It is quite possible that another inventor has the same though for an invention as you do. Some of the ways to do this include searching the Internet for products similar to yours, visiting various stores that would most likely carry your product (if it were to be produced), and even doing a search for patent search for products similar to yours at the United States Patent and Trademark Office.

The next step is to get a Record of Invention, which is essentially a document that proves you were the one who came up with your idea. It normally includes a thorough explanation of your idea, your signature, the date of your signature, the signatures of at least 2 others who have heard and understand your idea, and the dates of their signatures.

Marketability

Ask yourself these questions: Who is your target market? Is your invention practical? Also keep in mind that developing a new product can become very expensive in a hurry. That is why it can be extremely helpful to find a company that is receptive to your invention to help fund some of those expenses. However, until that happens, you are most likely going to have to spend your own money to get your project off the ground.

At this stage, it helps to start building some invention prototypes. Often times, ideas will sound perfect in your head, but it is not until you see them in action that you discover some problems. A prototype also gives you something to show others. Gather together small groups of people from your target market (also known as “focus groups”) and explain your product to them. Let them try it out and gather their feedback. After all, while it is your invention, they are going to be the ones who will be using it. This process can shed light upon impracticality problems, aesthetic problems (people did not like the shape, size, color, etc.), and generally help you decide which aspects of your prototype you need to work on.