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. Joseph Fiore says:

    Need investor for invention. Have working prototype of no gas electric generator. This is no hoax. Need money to get a patent. Can license to Tesla and other car companys who built electric cars. Need $100,000 for more research and patent. You will get for your investment 20% for 5 years and $1,000,000 buy out

  2. Joseph Fiore says:

    Looking $100,000 investment for 10% for 5 years and $1,000,000 buy out for no gas electric generator. Have a working prototype need investors to get a patent and more research to bring down the cost.

  3. Wayne Newcomb says:

    I’m looking for someone to help me get my idea from concept to the Shelf I’m currently speaking with a gentleman from invent help the product in which I’m trying to get from concept to the Shelf is one that would be sold easily worldwide and is absolutely for sure going to bring a lot of money I work construction my whole life I need about fifteen thousand to get me where I want to be I’m willing to sign off on 5% of my product for the investment if there is anyone out there interested please contact me via email [email protected] thank you very much for your consideration

  4. Joseph Fiore says:

    Have a working prototype no gas electric generator. This is no hoax. Need money for patent and more research to bring down the cost looking for investors. $1,000,000 for 10% for 5 years plus $5,000,000 buy out. PHONE # 9177953424 if interested please call (11am to 11pm)

  5. Joseph Fiore says:

    I have a prototype it works need money for patent and more research to bring down the cost i can license it to tesla and other car company’s. 5% for 5 years plus 5 million buy out for 1 million investment

  6. Joe Fiore says:

    No gas electric generator have a prototype it works. I need funds for a patent and more research . To bring down the cost. 1000000 us
    for 5% for 5 years plus a 5000000 us buy out. Call 917 795 3424 if interested

  7. Dianna Lynn Driskell says:

    Looking for a little guidance and financial support for a simple yet helpful idea for pain. There are things similar on the market but this idea has a couple of differences from what exists. If done right it can be quite beneficial. I suffer with chronic pain and wish to help others. Anyone willing to assist in getting this going please contact: [email protected]. Thank you for your time.

  8. Pah Sami says:

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  9. Adrian brown says:

    [email protected] contact looking for investor 148 countries selling medical supplies . I have contract. Selling medical supplies

  10. Adrian brown says:

    Looking for investor selling medical supplies 148 countries 20 yr deal 10000 for10 percent of royalties.

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