So, when should an inventor start getting serious about looking for invention investors?
I’m ain the making. Actually, I’m a lucky patent agent in the making as I’m a lot older than most college students and luckily I was able to go back and finish college. With that almost behind me, I’ve been interning at a local patent law office and what I’ve done lately is interview investors. It’s kind of the pre-interview before one of the attorney’s talks with them.
Most of the time I interview people from corporations. However, occasionally individual inventors make appointments and they’re a lot more talkative. I believe I’ve only interviewed 5-6 people but all but one of them started asking me questions about investors. Actually, they weren’t really asking questions, it was more of a conversational chat. Obviously most patent attorney’s won’t give that type of advice, and they shouldn’t. What I learned was these people are confused! The are, in their minds, jumping from A to D or E before they even completed B and C. in the invention/patenting/financing/selling process.
I analogize it to going to a new. Some people will look the restaurant up on Mapquest to find the best route, they print the map, are referred to the restaurant by someone they respect, and make reservations. Armed with facts, they get in their car, drive to the restaurant, eat and have a great meal.
Then there are others who, on a whim, decide to go to the restaurant, get in their car and get lost a couple of times, arrive when it’s the most crowded, don’t have reservations, then blame the restaurant.
Knowing how to find angel investors is no different. Taking action on something without thinking it through with a plan of attack is probably the number one reason some people end up disappointed with their results. It doesn’t take but a couple clicks in Google’s Search Engine to see this problem is common.
When To Start Looking For Angel Investors
There are lots of things an inventor has to do before he or she starts even thinking about angel investors for their invention ideas. First on the list would be to determine if the idea is unique, and even patentable. This can be done through the USPTO website and you really don’t need a patent attorney or patent agent before you get the basics out of the way.
Here’s a free 7-part resource guide for inventors looking for investors and how to prepare.
- Mark Cuban Doesn’t Shop For Patents On Shark Tank (gametimeip.com)
- ABC’s “Shark Tank” Is Casting Now For Season Three! (tvbythenumbers.zap2it.com)
- Steve Rosenbaum: Why ABC’s Shark Tank Is Entertaining… and 100% Wrong on Dealmaking (huffingtonpost.com)