Deciding which and how many companies to submit a patent or idea to is critical. Submitting to one company at a time is usually the best and most cautious strategy.
The information you provide the company should be brief and concise. I suggest you include the following information when submitting your patent or new product idea:
A brief description of your invention.
The status of, or a copy of any patents.
A sketch, photo, or sample of your invention, if appropriate.
How is your invention better than existing technology?
A list of the application(s) or uses for your invention.
Specify any markets for your invention that you have identified.
What you expect from the company i.e., are you seeking a manufacturer, a licensee, or to sell your rights.
Any documentation that verifies the workability or desirability of your invention, when appropriate.
Any other backup documentation.
Don't get caught up trying to convince the company by explaining how your invention works. Show the company why your invention is better than existing products. Describe what your invention does and what advantages it possesses.
Even if your invention is not patented, or not yet patent pending, you can normally describe its advantages and benefits without revealing any trade secrets or patentable subject matter. There's a great deal of information to offer prospective purchasers or licensees of your invention, without disclosing how it works, what it looks like, or how it might be patentable.
You can find out if the market has an interest in the attributes of your invention at a very early stage by using these techniques.. This form of market research may save you money, time, and much heartache.
To learn more about finding markets and companies, and to learn what companies are looking for, see: The Inventor's Bible, How to Market Your Brilliant Ideas.
Ron Docie, Sr. is President of Docie Marketing and Docie Development. He is the author of The Inventor's Bible, How to Market and License Your Brilliant Ideas, and has successfully commercialized new products and technology for himself and his inventor clients for over three decades.