Business Problems and Solutions for Inventors

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Running head: BUSINESS PROBELEMS AND 1 Business Problems and Solutions for Inventors Steve Swallows BUSN105 American Intercontinental University Thursday, October 07, 2010
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Running head: BUSINESS PROBELEMS AND 2 Abstract In this paper I am discussing a new invention of mine called the Identifier. I will explain the different ways I can go about producing and marketing my invention. I will also give you reasons I feel I chose the best way to get my invention into the market. I will also tell you where and what to do as an inventor. Please keep in mind that some of the information I have provided is from my point of view and not the views of others. I have listed below several ways to go about getting your invention into the open market. I discuss options such as sole proprietorship, partnership, and corporate options. The pros and cons of all three and a brief description of the different ways you can go to get your invention into production and then into the open market.
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Running head: BUSINESS PROBELEMS AND 3
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Running head: BUSINESS PROBELEMS AND 4 Business Problems and Solutions for Inventors I have come up with a new idea for an invention that I think will be beneficial to a lot of people. My invention is called ID software it is intended to stop a lot of on-line sex offenders from preying on innocent people on the internet. What exactly the software does is before being able to log into chat sites and other public chat sites you must show your driver’s license. The way this works is you hold you state id up to a web camera that will be interrogated into the screen of the chat web site and the web site scans your id and keeps it on file so that if something does happen the cops have the id of the person who is suspected of committing a crime. I know this software will be a great investment to a lot of companies because it can also be used by other web site to stop credit card fraud. The problem I am having those is I am not sure how to get my idea into to production and into the open market. I have financial skills but no management skills and I am not sure I can afford to get my product into production and then into the market. What I mean by this is there are a lot of issues I must address for example. There are patients, licensing, cost of materials, advertising, finding a location for an office, sales reps, and many other legal issues that must be addressed, and all this is costly. So now I have to decide what would be the best way to go about getting my product into production. I think it would be great to own my own business, where I would be the sole proprietor. I mean I
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This note was uploaded on 12/10/2010 for the course BUS BUS 150 taught by Professor Jarrodburch during the Winter '10 term at American InterContinental University.

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Business Problems and Solutions for Inventors - Running...

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