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Thread: Selling a patented product

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    Selling a patented product

    Hi all.
    I need some advise regarding a cooling product I developed and patented. I have read some of the previous postings and answers regarding marketing and selling of a unique product,but I am still not sure what route to follow.
    I have this cooling product for beer/cooldrink bottles and cans,had the injection moulds made (my property) and ran a initial production run of 500 units. I did all the testing and my product work exactly as I intended.
    My problem is the following. 1.Do I get into contact with a marketing company to help me with final branding and marketing?
    2.Do I go directly to the couple of big company's that I know of (some interest were shown on their part).
    3.Do I keep small at first and market my product at a slow and steady pace.
    Facts to keep in mind: I have some capital available,but it is not a bottomless pit. I do not have packaging sorted yet. I still need to invest money on a final sealing machine. I understand that big company's can take my product and keep me in court till I am dried out(patent infringement).
    I need some advise regarding what route to follow next. I have been busy with this for the past 3+ years and I want my product on shelves now

    Any help would be appreciated
    Can check the product @ www.icblock.co.za

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    Diamond Member AndyD's Avatar
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    Quote Originally Posted by Hein8956 View Post
    .....I understand that big company's can take my product and keep me in court till I am dried out(patent infringement).
    I'm struggling a bit to see the novelty in your product that might warrant a patent being defendable.... Are you concerned that your product may be copied by a big company and the costs involved in defending your patent or are you concerned about a big company taking you to court for infringing one of their patents?

    I'd suggest you stop investing money until you have a better handle on the market for your product. Maybe outsource the packaging or use off the shelf packaging until numbers of sales warrent the outlay of machinery, yes it might be more costly per unit on paper but at least the packaging costs will then be proportional to your sales and no large capital expenditure will be required.
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    Diamond Member wynn's Avatar
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    My advice would be license the idea to the big guys and let them run with it, insist that they are manufactured at a facility you can control the quantity produced and take a commission for each one delivered.
    That would take all the hassles off your shoulders and the only thing you would need to do is check the delivery book once a month.
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    Hi
    Thank you for your reply. I did do my homework regarding the place of my product in the market and there is nothing available in SA that serves the same purpose as my product. The product was not known to anybody before I got the product patented. I understand your idea on the packaging side and also feel it is best for now.

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    Silver Member Greig Whitton's Avatar
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    Quote Originally Posted by Hein8956 View Post
    I am still not sure what route to follow.
    It's impossible to choose the right route without first clarifying your intended destination. So what are you trying to achieve? Do you want to create a passive income stream? (e.g. licensing fees) Are you looking for a big payout? (e.g. selling a patent) Do you want to build and manage your own business? (e.g. a manufacturing company)

    Quote Originally Posted by Hein8956 View Post
    ran a initial production run of 500 units.
    What happened to those 500 units? Have you sold any of them?

    Quote Originally Posted by Hein8956 View Post
    there is nothing available in SA that serves the same purpose as my product.
    I understand that you are emotionally and financially invested in this project, but surely an ice bucket, cooler box, or mini-fridge would serve a sufficiently similar purpose?

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    Diamond Member HR Solutions's Avatar
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    Why don't you post a pic of the patented product ?
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    Hi
    I was hoping to work on this myself,as I do not know what company's would be interested in taking over my product (licensing). I do not know how things work. Do I manufacture the items myself and sell them to a distributor, do one sell your complete idea with injection moulds to somebody and the production and assembly problem is theirs?
    The 500 units is still with me.( I moved from Mpumalanga a month ago)
    An icebucket and coolerbox need ice to work and a mini-fridge need electricity. I can start listing the positives of my product, but i don't think this is the place to do advertising
    I do have money and time invested in this ofc,but I am open minded also and in 3+ years you learn a lot. (But not enough if you live 300km away from any good help or advise).
    This project is not killing me financiallyAttachment 6511Attachment 6512Attachment 6513, but I have spend so much time on this,that I would hope to see it through.
    Att is some pics.

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    Links of pictures dont work
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    Click image for larger version. 

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    Hope it worked this time

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