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July 6, 2023
John Rizvi, Esq.

How Can I Do Thorough Market Research for My Product Without Giving Away My Idea?

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00:00

I would like to know, how do you do the market analysis of your product without giving away your idea?

00:16
This is going to sound—you don't. Unfortunately, there's, you know, you cannot do thorough market knowledge without giving your idea away. You have to file for the patent first because if you're not patent pending, and you start discussing your idea, you may inadvertently give the idea away, even if you don't specifically mention it by name. Let me get a quick example here. All of us are familiar with the Post-It note. I wish I had a blank one, but there's nothing, it's just a number on here. I don't know what that number stands for, but—

Do not call that number!

00:59
It's only eight digit so— But anyway, if you have an idea, like, say, Post-It, and you start talking to people, and you, you don't give away the idea, but you express how dissatisfied you are wanting to leave a note for somebody on a sheet of paper, and having to always have tape, having to always have tape and a piece of paper in order to leave a note for somebody. That's how you discuss the problem, but you don't discuss the solution. Well, there might be somebody that identifies with that problem. And then you basically triggered them to think about the solution, or there might be somebody that's already thought of the solution and never taken action, but your discussing it has motivated them. So the short answer: if you're not patent pending, be very careful about disclosing, not just the idea, or even disclosing the problem. Because sometimes the brilliant and an invention is not the solution. There's nothing brilliant about paper with removable glue. The brilliance in the Post-It note is identifying that there is a demand for this product.

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