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. Dipanshu Tiwari says:

    I have an Idea for making a social networking website that can kill facebook.I have designed my website but i do not have sufficient funding for running it.
    If anyone want to invest in this idea that contect me:- dipanshutiwari00@gmail.com
    I will give partnersip.

  2. alireza faghforian says:

    Hello , I need investor for one hundred thousand for an idea product that can make millions $ . It is a serious program.

  3. David Banki says:

    I got a real good idea, and it works, I have already built one, That’s not the problem I don’t have that kind of money for a patent or market and license. I am looking for someone that has the money to invest in a patent, I will give them a GOOD % .to run with the ball. I am not rich I wont to get rich. I made a fishing Lure that will go to the right or to the left 45 degree or will dive or go straight, I went to fish stores, and ask if there was anything like that they said no and if there was it is worth millions. I did not tell or show them or anything, I gust need help

  4. David Banki says:

    Help me if you can. David

  5. Lucy Acuna says:

    Hi I have several ideas that I have thought of throughout my years, but have never been able to so anything but think of them. So I’am hoping that you can change all of that for me. My idea is something to save the environment and your family.I do not even know the first think to get started, but I’am ready to learn and I believe it was meant to be. Please give me a chance and a dream come true. I know if you give me the funding and the knowledge I need you will not be disappointed. I hope that you can believe in me as much as I do. i promise I will dedicate myself to this until we reach success which would be inevitable. Thank you for your time and consideration. Lucy Acuna

  6. ali says:

    I need invister for our business.my business technical services company.25% for three months profit.

  7. Cody says:

    Hi there, my name is Cody and I am currently attending college. I recently came up with an idea that I think could be really good and sold in several different ways. As I would like to keep it a secret until I can find someone looking to invest me I will say that if it goes through, it will not only be able to be sold to adults, but kids as well. It will work for boy males and females. Cody.drafke@yahoo.com is my email. feel free to shoot me a message if you’d like to talk

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