Selling an idea to a company

[gregsteumer]

What is the name of your state? AZ

I have a great idea that I know that Taco Bell would make millions on, however I'm unsure on how to go about approaching them about this idea. My two concerns are getting to the right person and secondly them being reluctant to engage in any type of negotiations out of fear of already having that idea in their pipeline. I really have no use for this idea since I would have to open thousands of mexican fast food restaurants to implement this idea and of course this would be unfeasible, so I'm not concerned about them taking my idea and screwing me with no compensation, but I would of course like to be compensated. Has anyone had experience in selling ideas to major companies and if so were the companies fair? My gut tells me that this would be a difficult task, but for a .37 stamp I don't have much to lose. My strategy would be to just send the CEO a letter stating that I have this phenomenal idea that I'm sure would be very successful and thus result in millions of dollars to the bottom line of Taco Bell and if I could only have 5 minutes of his time to listen to my idea I would be willing to present it under no obligation. In return if they implemented my idea then I would like to be compensated accordingly and if they decided for whatever reason not to implement it they would owe me nothing of course. In other words, this would be nothing more than a gentlemen's agreement with no complex agreements, but just something based on honesty. Like I said I know this would be a difficult task and my letter would probably end up in the garbage but the risk is .37 and the reward could be significant, so I would appreciate hearing any opinions on how to go about presenting my idea.

 

[razzer10]

your idea

I may have an "In" for you at Taco Bell. I know someone, who knows the woman who put Taco Bell hot sauce on the map.

 

[TeLeKiNeSiS]

What is the name of your state? AZ

I have a great idea that I know that Taco Bell would make millions on, however I'm unsure on how to go about approaching them about this idea. My two concerns are getting to the right person and secondly them being reluctant to engage in any type of negotiations out of fear of already having that idea in their pipeline. I really have no use for this idea since I would have to open thousands of mexican fast food restaurants to implement this idea and of course this would be unfeasible, so I'm not concerned about them taking my idea and screwing me with no compensation, but I would of course like to be compensated. Has anyone had experience in selling ideas to major companies and if so were the companies fair? My gut tells me that this would be a difficult task, but for a .37 stamp I don't have much to lose. My strategy would be to just send the CEO a letter stating that I have this phenomenal idea that I'm sure would be very successful and thus result in millions of dollars to the bottom line of Taco Bell and if I could only have 5 minutes of his time to listen to my idea I would be willing to present it under no obligation. In return if they implemented my idea then I would like to be compensated accordingly and if they decided for whatever reason not to implement it they would owe me nothing of course. In other words, this would be nothing more than a gentlemen's agreement with no complex agreements, but just something based on honesty. Like I said I know this would be a difficult task and my letter would probably end up in the garbage but the risk is .37 and the reward could be significant, so I would appreciate hearing any opinions on how to go about presenting my idea.

I'm someone on here trying to get an idea patented before it gets stolen by this invention company but I'll give you my opinion. I think if you have an idea like that I would definitely contact the PR department by phone, e-mail, and in writing. If you don't have a patent for your idea then I would definitely do that. If you're like me and don't know how much it's going to cost I would atleast type of the idea, get it notorized and send it to yourself and leave it sealed. Then contact them to see if they're interested but it may be hard to get them interested without telling them some of your idea so maybe tell them a small portion if need be. Atleast you'll have proof that it was your idea stashed away. If you send them anything make sure you document it all and send all letters via registered mail. I hope this helps even though I don't have much info to provide.

Telly

 

[Ben the 2L]

What is the name of your state? AZ

In other words, this would be nothing more than a gentlemen's agreement with no complex agreements, but just something based on honesty.

Firstly, try to stay away from entering into vague "gentlemen's" agreements with large multinational corporations.

I would try to contact the P.R. department as well, perhaps a local branch where you could stop in to corporate. Sit down with them for a few mins, and let them know about your idea. They likely will not sign a non-disclosure agreement with you on the spot, so your best bet is to make a good impression, and if they like you, and what they are hearing, then you can go from there. (Negotiation/disclosure agreements with attorneys involved.)

Good luck sir, hope it's a winner, because it would definitely have to be for it to be novel and have the kind of success you are claiming in the marketplace!

-Bt2L

 

[listenup77]

Don't mail yourself!

Putting your idea on a paper, postmarking, and mailing it to yourself and then not opening it to save as proof does not hold up in a court of law! Only a patent, that is why patents exist. Even a provisional application for a patent ("patent pending")only is good for getting you a filing date so when you get a full patent. Patent Pending is to sway off people that might try to sell your idea or product, because they know that when you eventually get a full patent, they will have trouble. You won't even be able to sue them with a "patent pending" until and if, you ever turn that patent pending into a full patent. I'm in the process of getting a patent now and that is what my lawyer advised me (explained it for me). So, I strongly advise against approaching companies without at the very least, a "pending patent" status. This is why this provisional application process "patent pending", was created, to give independent inventors a low cost way to protect their ideas while they shop it around and see how it is welcomed in the market; without having to put up the thousands it takes to get a full patent (that is why it is cheaper for a provisional application when an independent inventor applies for one than a company).

Good Luck

 

[sepro]

provisional application process "patent pending"

How much does this process cost?

 

[listenup77]

How much does this provisional patent application cost? It depends on who you go with. I've consulted with two different law firms, one charges me $500 plus gov. fees (Patel & Alumit, P.C., based out of California) and the other charges me $3500 (Litman Law, based less than two miles from the U.S. Patent Office in VA.) Litman Law is a much bigger and well known Law Firm and they claim that they have the advantage over other firms b/c of their location being so close to the US Patent Office. Well, it depends on the individual person on who they would want to go with. As for me? I did a full search for my invention (to make sure it has not already been invented) with Litman Law b/c they are in VA. with the US Patent Office and have access to files and resources for conducting searches only located at the US Patent Office (costed me $425, worth it). And now that I have the search results, I will use Patel & Alumit, in California to file my provisional patent application. The advantage of location with Litman Law, to me, is not worth the $3000 plus for the filing. Hopes this helps. Ref. Litman Law: www.litmanlaw.com and Patel & Alumit: www.patelalumit.com