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  • #988504
    BuddyBoy
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    Hi all,
    I am currently tackling the issues that go with inventing new products.
    Although coming up with a new inventive product would seem very exciting, it also comes with many stresses.
    I have had to go from an ideas man to a business man in the space of 2 years and I have learnt a lot and I am still learning all the time.
    Has anyone else had experience with taking an invention to market?
    More so… How have you found dealing with retailers?

    #1167493
    RadhaKrishna
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    PlasterBuddy, post: 194054 wrote:
    Hi all,
    I am currently tackling the issues that go with inventing new products.
    Although coming up with a new inventive product would seem very exciting, it also comes with many stresses.
    I have had to go from an ideas man to a business man in the space of 2 years and I have learnt a lot and I am still learning all the time.
    Has anyone else had experience with taking an invention to market?
    More so… How have you found dealing with retailers?

    Would this work for your invention?

    1. You have invented this product
    2. Registered all the relevant Intellectual Properties (Trade Mark, Patent, etc.)
    3. Considered local and global opportunities and got appropriate registration
    4. Now instead of you taking this product to market – engage an external entity to take this to market for your (and you can get royalty) and/or consider licensing deal if relevant to your invention.

    In this way you get to do what you do best – develop your ideas and product and let experts take care of marketing your product to distributors, wholesaler, retailers and consumers.

    #1167494
    BuddyBoy
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    Hi RadhaKrishna,
    That would be a wonderful idea but it is also a road I have been down already.
    I have had 2 very large companies look at my product and they both wanted it.
    One wanted to take it from me and offer a one sided contract and the other said they weren’t ready for it right now but would like the option later.
    This product is manufactured and ready for market so I am contacting large retailers to take on my product.

    #1167495
    RadhaKrishna
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    PlasterBuddy, post: 194056 wrote:
    Hi RadhaKrishna,
    That would be a wonderful idea but it is also a road I have been down already.
    I have had 2 very large companies look at my product and they both wanted it.
    One wanted to take it from me and offer a one sided contract and the other said they weren’t ready for it right now but would like the option later.
    This product is manufactured and ready for market so I am contacting large retailers to take on my product.

    Okay great, sounds like you have it all covered.

    Please consider taking independent legal advice before you sign any doted line. Large retailers = sharks. :)

    #1167496
    BuddyBoy
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    Thanks RadhaKrishna,

    I have a good contract lawyer.
    I think my biggest issue will be pricing and trying to keep my product Australian made.

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