Idea for a new product...How?

Question

How would I sell an idea to a company, an idea for a product that could be a number one seller ?

It is a advanced development of an existing product though.

How or where would I go about this idea.

Answer 1

First - If it is using an existing product there maybe patent rights. If that is the case that narrows you company down to the patent holder or no company at all.

Second - If no patent infringement, then you must patent the "advanced development" steps of the product. This only barely begins to protect your idea but its better then nothing. The advanced development must be unique in order to patent.

If you don't do this... a company can say thanks but no thanks and then tomorrow start producing it and you have nothing to say or do about it.

Third - Companies are not looking for the #1 seller. They are looking for products that can make them a profit. If this un-advanced developed product meets all the consumer's needs then they most likely will not spend any money on an advanced developed version of it unless they can do it for the same cost or slightly higher. Then the consumer must also believe that it is worth that increase price they pay.

First thing first though... always protect your idea. Its not as easy as just walking in the front door of GE and saying... hey here is this great idea for...... A company will spend millions to get a product to a consumer and that product must be able to give that company a ROI.