Friday, September 17, 2010

Taking on the big boys is a tough row to hoe

"Wow, I just thought of this great new kind of TV.  It's a great idea.  All I need to do is raise a few million, design it, manufacture it, and they will come to buy it."  Ouch.  An investor will look at you and see "risk" written all over this deal.  Unless you're a person (oops, I mean a complete team) who has a proven track record in the consumer electronics industry and is well-connected in that industry, it's a non-starter.  And even if you are such a team, you're taking on the likes of huge multi-national players who don't take kindly to competition.  "But, what do I do then?"  Firstly, if you have some great IP around your new kind of TV (or fuel-efficient engine, or new semiconductor process, or...), get it protected.  Start with a provisional patent if you're still validating the technology and/or the market, then move on to a PCT filing within a year.  Don't disclose it to anyone without an NDA.  Once you have protection, then, talk to those who know how to make your 800-lb gorillas your friends.  That is, turn your competition into partners.  These players have the ability to turn your new kind of TV into a market success.

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