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The Joyful Journey to the Marketplace

  So you have a great idea and you know if you can just get a patent you will make a million bucks and be set for life. So you dream of your new car and travel as you share your idea only with a few close friends…You see an ad on the television, you call the number--they agree your idea is a million dollar winner and only need $10,000 for your Phase I package…You go to a patent attorney, pay the $7,000 and are now the proud owner of a patent…NOW WHAT?

  According to the Small Business Administration Office of Advocacy’s news release of January 27, 2004, “Small firms are contributing to technological innovation at an incredible rate… Small firms are a vital element of new technology in many industries...and large firms in the biotechnology, medical electronics, semi-conductor, and telecommunications industries are citing patents by small firms in higher than expected numbers.”

  OK…even a government agency is saying, “My idea might be a winner.” (Literary and inventive license used here!) Yet 97 percent of the patents held never earn more that they cost to obtain, and many other “ideas” never even make it that far!

  At Diverse Specialties, Inc. we have gone various routes during this lifelong creative process, some lucrative…some not. We suggest you take some time before you “take” the money out. There are some incredible sources on this ultimate card catalogue called the worldwide web. Start with Patent Café a series of intellectual properties that offer great advice (why re-invent the wheel here) and reasonable products. Another useful site we found is Free Patent Info. This site is authored by a patent lawyer. We have no professional or personal knowledge of this gentleman except that his advice is sound.

  Don’t forget the Small Business Development Centers. Less than 4% of the businesses in the United States have 50 or more employees, according to Census Bureau Statistics. Funded by our government to help you be successful, these centers offer classes on everything from feasibility, minority certification, where to get the money and working with the government. They also offer free counseling. So start here. Some of the classes are free, others are very reasonably priced. An unofficial quote from a government employee stated, “Strong small business is a strong economy and a strong America.”

  For most, this is a journey. You couldn’t stop coming up with new ideas if you tried. Don’t get discouraged, the only way to really lose is if you quit. Below are links to information we have found useful for this journey and some wonderful businesses that have helped along the way.

Godspeed for your journey,
Sara Hand
Marketing, Diverse Specialties, Inc.

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