How do I find an investor to fund turning my idea into a patent?

QUESTION:

I have submitted a patent idea to a company, and they need $1,200 to do the patent search, design, and study group before looking for a buyer.  I have no money available, as I have just started a new job.  I would like to know if there any investors that would be willing to take a chance with me, or if you have any help for me to move forward.  Thank you very much.

ANSWER:

Naomi Kokubo

Naomi Kokubo

by Naomi Kokubo, Cofounder of Founders Space

This is a good question, and I’ll do my best to answer it.  First of all, your idea probably isn’t worth anything until you are granted the actual patent, and that takes years and usually costs thousands of dollars for the legal work (unless you can do it yourself).

Any company that is promising to sell your idea for $1,200 is probably a scam.  Very few individuals or corporations will buy an idea, provisional or pending patent, and if they do, it’s usually not for a lot of money. Most individuals and companies buy patents once they are granted.  That’s when they become valuable.

Before you spend $1,200 to have this company do the patent search, design, and study group, please do  your homework on them.  Check references.  Find out exactly how many patents they’ve sold, for what amount, and how the entire process works.  Also find out what additional money you’ll need to spend and what happens if your patent idea does not sell.

You can file a provisional patent on your own for less than $1,200, and this gives you a year to file an actual patent.  Again, I wouldn’t waste my money and time unless you’re prepared to go all the way, and that’s expensive.

On another note, it’s hard to find people who are willing to invest in patents.  Most investors are looking to invest in startups that have a much larger upside than an individual patent.  Unless you have a very unique discovery that will have a huge impact on a large industry, the chance of finding an investor or buyer for your idea is slim.

If you want help connecting with investors and getting feedback, I recommend coming to one of our Founders Roundtables.  We’ll connect you with other entrepreneurs, who are going through the same thing, as well as lawyers and investors, who can provide valuable advice.

I hope what I wrote above helps a little!

Comments & Advice:
  1. Tyger Anthony says:

    I was in the Olympia, Lacy area for 7k. In that time I became a member of the OlyMega maker’s space. Now there are a few members w a few patents and they paid little or next to nothing for the payback market research

  2. Tyger Anthony says:

    Autocorrect is awful. I apologize,but as I was saying, these guys did it almost completely DIY from design to patent search to market research etc. Yes, it was a 2nd job & still took some time but all in all from what I gathered is that it took them less time with less expenditure. Now understand that they had dedicated themselves w strict commitment, but if you don’t have a lot of cash to invest & you are devoted, chances are you have time to invest. OlyMega maker’s space in Olympia, Washington.

  3. Rabah says:

    for months ago i decided to establish a small project as owner business but this costs me more then i can affored this is why i need a partner to do it together. domain agriculture. country algeria.

  4. john w says:

    would like to get help n sellin my patent pleae repond its ware you let windows up and down from any from ure vecihle in house are outside pretty much anyware

  5. John Emrick says:

    I do have an invention idea that has the potential to go global.I have no money.I’m on disability.But I stake everything I don’t have on it.Give me 3 minutes to pitch you and you will fight to invest

  6. I’m an 80 year old prostate cancer survivor in excellent health. I have designed a simple device to be used after getting up in the morning when you have a stiff aching back from lying in the same position for a period of time. “All I can say it works!” See my website: http://www.spacealienfitness.com or http://backpainaid.net
    The reason for the name for the web address is due to a U. S. Army Medical Experiment I participated in back in June of l954. I viewed pictures of exercise equipment removed from a crashed UFO, along with other items. My current physical condition can be attributed to that experiment. Anyone interested, my contact tele: 541-660-5221 and my address is 1630 Williams HWY#368, Grants Pass, OR. 97527 –

  7. Mohammed Fairoz says:

    How to find investors for a very new concept of profitable business idea leaving my mail id mdfairoz77@gmail.com

  8. I came up in my head robot window cleaning u program it to clean windows,

  9. Berris-Dale Joseph says:

    Dear funding person or source out there:

    I desperately need funds to get my patent pending idea in front of investors and a game I made a prototype for, to be patented and marketed. I know that where there is a will there must be a way.

    May the Lord whom I seek to serve in my writing and in my playing the harmonica, help me find someone, some source to help me.

    I truly need this help, for if I get help with one of these great invention ideas it will pave the way for the others.

    The world, beginning with our great nation can wait no longer for these items to be implemented to our collective benefit.

    Help me please. I thank you kindly. And may God bless and prosper you in every good way.

    Sincerely,

    Berris-Dale Joseph

Make Your Comment: