FAQ: I have an idea. Where to from here?

I want to find out how to patent a Idea and if there is already a patent about my idea and what can I benefit? Need help and any assistance please! (Yolande, 3 Feb 2012)

3 thoughts on “FAQ: I have an idea. Where to from here?

  1. The first step is to conduct a patent search to identify the features of your invention that are new (i.e. that have not been disclosed anywhere in the world). You can either use the search free software available at our IdeaNav website, or we could perform a search on your behalf (see the Fees tab on the IdeaNav website).

    To file a patent is relatively simple. We will meet and discuss the new features and how best to describe them so that it would be difficult for someone else to “design around” your patent. This takes about two weeks and our fee is R4,950 excluding VAT.

    The next step is the difficult one – how to make money from your idea. The greatest success is achieved by inventors that bring their own product to market. To license the patent is more difficult (for help here, see our licensing term sheet) and very, very few people are successful in “selling their patent”. For an idea of average royalty rates in licensing, see our Royalty Table.

    We suggest that inventors prototype their invention and apply for SPII funding to assist them. They could reimburse you between 50 and 85% of your costs as a grant – no repayment or strings attached. But, you will be required to complete a business plan and submit a formal application. This takes about 3 months.

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