Loaning your Invention Prototype

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Is it ok to leave my invention prototype with a company for review?

Loaning your Invention Prototype

If you need to loan your invetion prototype for a company for review, take a few precautions to keep your prototype safe and to ensure it's timely return.

Assign one company member to be in charge of your invention prototype. That person will be responsible if any damage occurs. Work out ahead of time that the company will pay for any repairs that need to be done after the invention prototype is returned to you.

Negotiate the amount of time that the company is allowed to keep your invention prototype. The shorter the time period the better as it encourages the company to act quickly.

Get everything in writing. Get the signature of the most senior manager available to sign the loan contract. If you feel uncomfortable, enlist the help of a patent agent.

   

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Jerry Mayo