I know I can just imagine you scratching your head as you wonder what furry creatures have to do with product creation. Both of these animals were designed to be productive when it comes to the number of offspring they can have.
For instance the rabbit can mate by three months of age. Their gestation period is slightly more than a month and they can have as many as 12 kits in each liter. They can also live up to twelve years of age. By the way if you were curious a rabbit is lagomorphs while the rat is a rodent.
A female rat can begin to reproduce as early as 35 days of age. These rodents can also have as many as 12 pups and multiple annual litters. Unlike the rabbit a rat will generally live just 2-3 years, but could have a few hundred offspring and preside over many generations of rats during that time.
So what can a lagomorphs and a rodent teach us about product creation? Simply put these two creatures teach us that more may be better.
Thomas Edison used existing products to make new or better products and he never stopped at one product. He held multiple patents for his devices and he kept trying new things.
This philosophy is what's needed for those involved in product development. Always keep developing ? always keep dreaming.
Let me present a scenario for your consideration. A business owner has what they feel is a great idea for a product launch.
They have researched the idea; they have developed the product and are banking on the buzz factor for the product. They are so convinced this is THE idea they were meant to create that they invest everything in the product and do not look at additional product creation.
What happens if the product fails?
Obviously this business owner risks potential financial ruin because they did not consider a contingency plan.
What if this same business owner involved himself or she in the creation of multiple products released on a slightly staggered basis? The new product ads to the overall product line and the success vs. failure ratio are spread out among a variety of products and not simply one that may succeed or fail.
Like the rats and rabbits, work on a product creation gestational cycle where new products are being developed on a consistent basis.
Obviously low cost products are the most cost effective means of developing multiple products, but even high end products could be retooled to add new options or trim to an existing model.
It is highly probable that you will develop a product that does not connect with your customers, but there is an equal chance that one or more of the products you create will become a best seller for your business.
The product creation strategies you implement could be in tangible goods or it could be in new software applications or ebooks. These final two products may not be overly expensive to create and carry the potential for a longer shelf life.
Idea For A Product
Once you have your product developed it's time to decide if a patent is worth the trouble. Although in theory, all good ideas should be protected by a patent. Consider the protection however as only the right to allow you to claim the technology, product or ideas as your own. YOU get to do all the protecting. So if you develop a product then someone steals the idea and goes into competition with you, you have the right to sue and defend your patent rights.
In patent cases, there typically are claims and counter-claims, especially if it's a popular product. These cases can quickly become more complicated because of the dynamics of product development. As the complexity increase, so do the costs.
Understand that it's YOU that gets to pay the patent attorney fees and court costs that can rapidly add up into the tens of thousands of dollars very quickly. So you need to ask yourself if your product or idea is such that it will generate large dollars. Put bluntly, what's the product going to be worth and are you confident that the product of idea has a good shot at being worth the trouble. Of course, the higher the value of the product-idea- or technology, the more likely people will want to compete and it may be to your advantage to apply for the patent rights with the government.
Another thing to consider is that even if you have the patent rights in the U.S., others may be free to use your ideas throughout the rest of the world. Although many countries support common patent rights, the reality is that if it's a good idea and is used outside the United States, it's becomes even more expensive and difficult to protect your patent rights. It's important at this point in your product development to understand that the costs of a patent are not in the application but in the defense when it becomes necessary.
If you're product becomes popular, it's not unknown for large corporations to take your patented ideas and compete directly with you in the market. Because of their size, they have a great advantage and can literally destroy your business built around your product, idea, technology or patent. Large corporations have been known to simply have an attitude of "sue me." They then tie up the little guy in litigation for years and sometimes decades all the while benefiting from his idea. Understand that this doesn't always happen but if it does, you could be left without a market for your patented idea and the prospect of paying hundreds of thousands of dollars to attorneys to establish your patent rights.
Finally, the last major issue to consider is that some countries and international companies simply will not care about your patent even if you have one. These countries, specifically China comes to mind, do not care about intellectual property rights or patents. Even if fully protected with your patent, some countries have no problem simply taking what interests them. Although China isn't the only country to have this attitude, they have been considered one of the biggest offenders for years.
So you need to ask yourself if the value of your idea is such that it warrants a patent. That you are willing and able to defend those rights in court, and have developed a plan to protect your idea in the international markets.
Both Harnekgill & Abigail Franks are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Abigail Franks has sinced written about articles on various topics from Home Schooling, Health and Mortgage. Abigail Franks writes on a variety of subjects which include family, home, and business. For more information on patents and patent attorneys visit the site at. Abigail Franks's top article generates over 246000 views. Bookmark Abigail Franks to your Favourites.
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