Fitness product invention

[NemanjaZ16]

Hello everyone.

My brother and I have come up with an exercise
product that we believe deserves to be on the market.

Since we do not have enough financial resources to get into the whole process of production, I would like to ask you the following:

1. Does anyone know where we could find a partner to help us with production and sales?

2. Can we "sell" our idea-product to someone? If so, where?

3. I read somewhere that it is possible to give a license to distributors, so I wonder if anyone knows how to explain to me how it works?

Any advice would come in handy and we appreciate everyone’s response.

Best Regards

[MajorTendonitis]

Shark Tank

[radrd]

Basement Brandon (youtuber) worked with Rogue on an idea he had and I believe they are paying him royalties. I doubt you'll get rich going this route but might not hurt to contact them.

[NemanjaZ16]

Shark Tank

thanks for the advice, but I forgot to say that we live in a small country in the western balkans and our financial possibilities are limited ...

[NemanjaZ16]

Basement Brandon (youtuber) worked with Rogue on an idea he had and I believe they are paying him royalties. I doubt you'll get rich going this route but might not hurt to contact them.

Thanks a lot for your advice Sir,
I really appreciate it!

[air2fakie]

In case it helps you:

- Don't assume someone else hasn't already come up with an idea just because it's not publicly available on the market. There are many reasons why products never see light of day.

- Generally you would develop a prototype before you pitch your idea to a potential partner.

- No one's going to pay a license for a non-patented product (esp one that's just in "idea" form) that they can legally "steal" and make on their own without paying you anything. Get a patent or at least apply for one.

- Your idea comes down to a small profit margin for each item after startup, manufacturing & marketing costs, so it likely makes little difference to a fitness company whether they get your idea or make the profit from just cranking out a few more adjustable dbs or treadmills.

Not saying not to pursue your idea, but the more you can do on your own, the more worthwhile it'll be. Good luck!

[Mech6]

..No one's going to pay a license for a non-patented product (esp one that's just in "idea" form) that they can legally "steal" and make on their own without paying you anything...

This, and only this. Also, you can't apply for a patent if you've shown your invention publicly already. Patent has to come first.

[BiGx5MurF]

Kickstarter?

[C123C]

This, and only this. Also, you can't apply for a patent if you've shown your invention publicly already. Patent has to come first.

This right here. Also with the way this industry is...going with a strong partner that CAN and WILL enforce patent protection is probably a non-trivial factor.

[NemanjaZ16]

In case it helps you:

- Don't assume someone else hasn't already come up with an idea just because it's not publicly available on the market. There are many reasons why products never see light of day.

- Generally you would develop a prototype before you pitch your idea to a potential partner.

- No one's going to pay a license for a non-patented product (esp one that's just in "idea" form) that they can legally "steal" and make on their own without paying you anything. Get a patent or at least apply for one.

- Your idea comes down to a small profit margin for each item after startup, manufacturing & marketing costs, so it likely makes little difference to a fitness company whether they get your idea or make the profit from just cranking out a few more adjustable dbs or treadmills.

Not saying not to pursue your idea, but the more you can do on your own, the more worthwhile it'll be. Good luck!

Thank very much for your advice Sir, it means a lot to me and I appreciate it!

We don't have enough money to sell our product, so we need someone who can "push" us and be our mentor / partner ...

Do you know If we applied for a patent in our country - Montenegro, could others who are, say, in America or the rest of Europe "steal" our invention?

[NemanjaZ16]

Kickstarter?

I found out about that site, but they have a list of countries from which people can post their projects ...
Unfortunately my country - Montenegro is not on that list ...

[NemanjaZ16]

This right here. Also with the way this industry is...going with a strong partner that CAN and WILL enforce patent protection is probably a non-trivial factor.

Thanks for the comment Sir but I am afraid that if I send a sketch of our product to a couple of addresses, that someone will steal it ...

I saw on the rogue fitness site that they fence themselves in advance and say that they do not have any confidentiality clause, and that if they decide to produce the can make a similar product to ours or the same and without any compensation to us, so I hesitate to send them a submission at all.

Do you know how to find a partner who can be trusted?

[NemanjaZ16]

This, and only this. Also, you can't apply for a patent if you've shown your invention publicly already. Patent has to come first.

Thank you for your comment Sir!

Do you know If we applied for a patent in our country - Montenegro, could others who are, say, in America or the rest of Europe "steal" our invention?

[Mech6]

Thank you for your comment Sir!

Do you know If we applied for a patent in our country - Montenegro, could others who are, say, in America or the rest of Europe "steal" our invention?

No, you need a patent in each country. It all becomes very expensive.

[air2fakie]

Thank very much for your advice Sir, it means a lot to me and I appreciate it!

We don't have enough money to sell our product, so we need someone who can "push" us and be our mentor / partner ...

Do you know If we applied for a patent in our country - Montenegro, could others who are, say, in America or the rest of Europe "steal" our invention?

You need to apply for patents in every country in which you want protection. You want to get to market first, enforce your rights and make a better product than everyone else and keep making it better. Some Chinese company will still legally or illegally infringe on your patent if it’s a halfway decent idea.

Tbh most ideas aren’t as good as “inventors” think it is and the market for it isn’t as big as they think. Even if it’s a good idea, 99% of the work to make the idea a reality is on the production/business/finance side which you need someone else to do.

Thanks for the comment Sir but I am afraid that if I send a sketch of our product to a couple of addresses, that someone will steal it ...

I saw on the rogue fitness site that they fence themselves in advance and say that they do not have any confidentiality clause, and that if they decide to produce the can make a similar product to ours or the same and without any compensation to us, so I hesitate to send them a submission at all.

Do you know how to find a partner who can be trusted?

No legitimate business partner will sign an NDA just to hear random people’s ideas. It’s opening them up for endless lawsuits from people even if they don’t steal their ideas. They don’t need your idea, you need them. It’s not that they’re not trustworthy, it’s that they’re smart and you have no leverage.

[paulinkansas]

Some Chinese company will still legally or illegally infringe on your patent if it’s a halfway decent idea.

I know a guy that manages a factory in my town in the United States that makes transmissions for John Deere tractors. One of the gear molds had a cosmetic imperfection that made a small mark on the finished product. The product worked fine, it just had a mark in a non critical area. Someone showed him a gear made in China that was a competition to their product. It had the same cosmetic imperfection.