Readers question:
I have seen this little gadget in another country and I found it really useful. I would like to know how I can sell this product in this country do I need to get patent for this product? I would be very grateful if you could give me some information.
No you don’t need to apply for a patent. A patent is a set of exclusive rights granted by a government to a person for a fixed period of time in exchange for the regulated, public disclosure of certain details of an invention. While you could apply for a patent on the gadget, as the person applying for a patent does not need to be the inventor who invented it, you’re likely to find that the inventor (or a related party) has already registered the patent.
What you should do is contact the manufacturer and enquire if you can negotiate for the right to distribute their product in your local market or a license to make your own version of the product. They may however already have a local representative in which case they will be able to put you in touch with them and you can explore buying the gadget wholesale with a view to selling on to consumers.
If they don’t already have a representative in your local market you should try to negotiate for exclusive rights within your market to maximise the benefit your business will get from the arrangement. You’ll then be the sole supplier of the gadget within your local market and able to sell to both wholesalers and retailers.
Asking John:
Do you have a business question you would like me to answer? If so you can Ask John or you can enquire about using me as your Business Coach.
This blog is about business opportunities and ideas that I spot, think of or hear about and think are useful and interesting. It is intended to provide ideas and inspriation for you to help you find the right business idea for you to then grow it into a successful business.
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