Things You Need To Do If You Are Trying To Develop A Product

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Things You Need To Do If You Are Trying To Develop A Product

16 September 2017
 Categories: Business, Blog

As an entrepreneur that is trying to develop a new product, there are going to be a few things that you will need to get done. By doing these things, you will not only protect yourself but your invention and all of the money that you have invested into it. Some of the first things you need to do include:

Get Non-Disclosure And Non-Compete Agreements Signed

If you have enlisted the help of anyone for the development of your product, you are going to want them to sign two forms. The non-disclosure form states that they are not allowed to discuss your product with anyone at any time until you have publicly launched it. Then there is the non-compete agreement, which states that anyone working for you, in regards to the development of this project, will not be allowed to go work for a competitor within a certain amount of time, as you will have explained in the contract.

Apply For A Provisional Patent Right Away

It is important to make sure that you are submitting a provisional application right away. With the provisional application in place, you will have secured a date for filing for the patent. This is also how you get your product under the "patent pending" protection. It shows anyone who might consider stealing your idea to try to make it their own that you are in the middle of the legal process necessary to protect your product and your investments. Once you are ready to apply for the patent, you will need to make sure that you are doing that right away. 

Get Your Marketing Plans Ready

Even if it is not ready to hit the shelves just yet, you will want to start putting your marketing plans together. This includes gathering the funds to pay for it and putting together some of the best ideas for marketing your specific type of product. For example, some products will almost sell themselves by just sharing some posts on a popular social media websites. You might feel that your product would do better being showcased on an infomercial.

With those points in mind, you should find that you will have an easy enough time protecting and promoting the product that you are developing. All you need to do now is get started with the non-disclosure and non-compete agreements and the rest can be done shortly after those papers are filed.  

Contact a company like Richardson and Associates for more information and assistance.