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Product development is the process of designing, creating, and marketing an idea or product.
The product can either be one that is new to the marketplace or one that is new to your particular
company, or, an existing product that has been improved.
In many instances a product will be labeled
new and improved when substantial changes have been made.
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Product Development can be accomplished in following stages:
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Simply having an “idea” is worthless--you need to have proof of when you came up with the idea for
your invention. Write down everything you can think of that relates to your invention, from what
it is and how it works to how you’ll make and market it. This is the first step to patenting your
idea and keeping it from being stolen
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You will need to research your idea from a legal and business standpoint. Before you file a patent, you should:
• Complete an initial patent search
• Research your market
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A prototype is a model of your invention that puts into practice all of the things you have written in your inventor’s journal. This will demonstrate the design of your invention when you present it to potential lenders and licensees. Do not file a patent before you have made a prototype.
Here are some general rules of thumb when prototyping your invention:
1. Begin with a drawing. Before you begin the prototyping phase, sketch out all of your
ideas into your inventor’s journal.
2. Create a concept mockup out of any material that will allow you to create a 3-D
model of your design.
3. Once you’re satisfied with the mockup, create a full-working model of your idea.
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