Is there what you can perform besides give up and end up forgetting the whole lot? The good news is that there is a lot that you can do however the very first thing you should do is get yourself a little education. This may save a fortune in the long run.
If you feel your "product" has merit, you could look at InventHelp Products. That's where you'd allow someone else to fabricate and market your product to suit your needs. Why would someone try this? Well if they're inside a similar market already, they probably have existing customers that might get your creation. What's to stop them simply stealing your idea and producing an item themselves? There are numerous of legal safeguards in position to avoid this happening although I need to state that they offer no protection in any way unless your agreement is to establish properly. You have to be cautious when getting into negotiations of this type. You must understand the game plan and adhere to the guidelines. You also have to ensure the other side will the same.
Will there be numerous people interested in licensing your idea? Well that relies really around the invention you've got come up with. In spite of, or perhaps due to, the amount of innovation and creativity in many markets, there is a small group of latest ideas. What seems like a fantastic plan to you might meet a lukewarm response once you approach other investors. But that does not mean there isn't a market and you posess zero potential goldmine on your hands.
You might find your product idea has already been tried also it failed. However that does not have to mean the end of things. The last launch may have happened if the market wasn't ready or was approached in the wrong way or via the incorrect medium i.e. should have been marketed online but was promoted on the TV shopping channel. An issue you might have is always that "your" product idea may already be the topic of a patent. This could be checked out but there will be electric power charge sent applications for checking. So prior to deciding to spend your cash, you need to know just a little about patents and the way far the idea has been protected. Not every patents happen to be created equal plus some of them happen to be registered incorrectly or only apply in one country. Patents don't always cover every nuance there are typical types of issues involved that you simply should keep yourself well-informed about if you are seriously going to pursue this idea.
There may be other reasons why your product is not ideal for licensing. It may not be possible to manufacture it at a low enough cost to generate a profit when it is sold to retail at a cost the market will bear. Finding methods to bring down any costs to ensure that there's an attractive profit margin when marketing the merchandise is usually the challenge facing cool product producers.
The good thing is you have already done the majority of the work. You've got think of a great product idea. You now just need the data and some help from someone proficient in the licensing field to successfully get the dollar prospect of your plan.