Three Steps to Turn Your Product Idea into Money

That great idea in your head isn't making you any money. Protect it, validate it, and license it. Get it out of your head and into your wallet.

Find out more about intellectual property basics

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three steps to turn your product idea into money

Contents

Updated on: June 12, 2023
Read time: 4 min

That idea for a product that you had last year—the ultra durable dog toy for your mastiff, the self-boring tent stake that your seven-year-old could hammer into the hardest ground—boy, one of those would be really handy right now. You could sell them by the million, but what have you done about it?

You don't have a 3D printer in your basement. You've never put a product on the shelf at Walmart. How do you get that idea out of your head and into the hands of customers? Every product you have ever purchased started in the exact same place. Here are three steps that you can take to make your idea into a product that pays.

1. Protect it

There are a lot of ways to protect intellectual property. For many products, patents are a great place to start but only if you have an invention that is new or novel. Patents have to be novel—no one can ever have publicly invented, published, or used your invention before. If it is novel, you may be able to file a provisional patent application. Provisional applications lack many of the formalities of full patent applications. They also cost significantly less, making them a great first step for individual inventors.

Intellectual property includes more than patents. Any computer code you write is protected by copyright the moment you type it, though it is always a good idea to register it. Make sure to annotate your source code with a copyright notice. Include the year as well. Beyond software, copyright can protect the content on a website, the design of a non-utilitarian article, or elements of a user interface.

What if your idea is not a new app or a product on the shelf? Your world famous flatbread cheese steak sandwiches, for example, cannot be protected by patent or copyright. You may, however, be able to stop someone from calling them phlat Phillies.

A phlat philly is more than the sandwich. It's the flattened Liberty Bell logo on the wrapper and the cup of fresh daily cheese sauce for dipping or drizzling. As you build that brand, protect it with a trademark registration. Put a ™ next to that flat Liberty Bell; it puts everyone on notice that phlat philly is your trademark. Anyone can make a flatbread cheese steak, so make sure you're the only one who can make a phlat philly.

2. Validate it

Intellectual property laws exist so that inventors, authors, and entrepreneurs don't have to keep their original works secret to protect them. If someone steals your work, then intellectual property rights are what you use to get it back. With your intellectual property protection in place, start talking.

First, talk to the people you think will want to buy your product. Find out if your product or service is something they would want to buy. Find out how much they're willing to pay for it. All the intellectual property protection in the world is worthless if it is for a product or service that no one wants to buy.

Investors, licensees, and partners want to see validation that people outside of your family think your product or service is great.

3. License it

After you talk to potential buyers, talk to the partners you will need to produce your product. Intellectual property licensing is a favored business model among corporations and investors. It is efficient. Why build a factory, recruit a sales team, or rent a warehouse when there already is an existing company with everything necessary to bring your product to market? All that company needs is your product.

Companies license intellectual property, not ideas. Your intellectual property is more than your protection from potential partners if they take your idea. It is an asset that existing companies will pay to use. The way you turn that great idea into money in the bank is to collect royalties on your patented dog toy. Or to receive an annual fee to license your software code. It's your partnership in the phlat philly franchise.

Licensing isn't the only way to convert your idea into money, but it may be the most efficient.

Need to speak to an attorney about protecting your intellectual property? LegalZoom can put you in touch with an attorney who can answer your questions about intellectual property and help you decide if you need a trademark, patent, or copyright when you sign up for the business legal plan.

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This article is for informational purposes. This content is not legal advice, it is the expression of the author and has not been evaluated by LegalZoom for accuracy or changes in the law.

82 days ago
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Jose is the best.

Jose was very friendly and knowledgeable. He was able to answer my questions and provide me information of next steps to secure my trademark.

Cheryl Cooper
85 days ago
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The knowledge the agent possessed was…

The knowledge the agent possessed was super beneficial to rectify the situation I was having with my trademark. Very professional!

Craig Schsrfman
101 days ago
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Trademark work is great and effecient

Edit from my previous feedback and why i decided to give them 5stars they deserved: LegalZoom's support team was excellent—they addressed my concerns promptly and delivered a great outcome. I truly appreciate their help and want to give a shout-out for an outstanding customer service experience.

Trademark
100 days ago
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Thanks for being so helpful in the…

Thanks for being so helpful in the assist of getting my Trademark filed. -Patrick

Patrick Thompson
107 days ago
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Kevin was able to help me understand…

Kevin was able to help me understand the process needed for filing a trademark. He was clear in his answers and stayed on the phone to help walk through the onboarding.

Asiyah Lites-Rasheed
125 days ago
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Excellent Serviceed them for a trademark application

Used them for a trademark application. Excellent service. Knowledgeable staff. I would absolutely use them again. Probably save thousands by going through them.

Eric Hertz
152 days ago
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Estee was super helpful!

Estee helped me navigate the tricky trademark process. Highly recommend her!

Greg
152 days ago
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Very good and focused answers

I got a very good and focused answer to my trademark questions. Definitely makes me see LZ as the place to go with my legal questions. A+

Chip Humitz
156 days ago
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Help with trademark

Got exactly what I needed to register my trademark

Luci Bromberg
162 days ago
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I had a consultation with an attorney…

I had a consultation with an attorney through LegalZoom concerning the trademark process. and she was very patient and professional. She answered my questions and helped with the ones I had difficulty asking. I appreciated that

Isiah Jones ,jr.
181 days ago
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Strong support for trademark

The trademard support by Nick Belcastro has been excellent.

John Kirk Boyd
188 days ago
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Excellent service

Excellent service! Extremely knowledgeable and helpful in reviewing all the next steps in the process for filing the trademark with LegalZoom.

Brian Mayer
223 days ago
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Excellent Staff/Services

"LegalZoom made trademark filing for my company a breeze. Their system was incredibly user-friendly, and I was impressed by the professionalism of the staff. My attorney was not only knowledgeable but also took the time to answer all my questions and clearly explain the entire process. I felt confident every step of the way. I will definitely use their services again!"

Hedda
219 days ago
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Register Trademark using LegalZoom

The attorney assign to us did an amazing job by answer all our question in a friendly, timely and professional way. The attorney helps by giving us information to mange our account to register our Trademark.

wiltrey sanders
228 days ago
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Excellent experience with Legal Zoom

I have been looking to get my business trademark for a while now and I finally decided to try out Legal Zoom. I had an excellent experience with customer service ready to assist me through the process. The price is much more affordable than going through law offices. I highly recommend to anyone looking to get a trademark.

TheAlphabetshop
230 days ago
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Legally create your trademark with LegalZoom in 2025 and The Years to Come

The lawyer that assigned to me was not only professional and friendly, but patience beyond measure. All questions answered and additional information given to me as well for future services. This call gave me the reassurance I wanted and needed to continue using LegalZoom for future endeavors, and referring my community/platform to do the same.

Kali Harris
247 days ago
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Trademark Process Made Easy

My LegalZoom Trademark attorney, Asha was extremely professional, friendly and knowledgeable. She answered all my Trademark questions and made this process so easy. I felt like I was in good hands.

Virtually Debbie
254 days ago
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Trademark

Right now I use everything Legal Zoom has to offer and I'm so very happy with everything, especially the Trademark process. They were absolutely the best! Highly recommend!!

NicoleK
57 days ago
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Obtaining a Copyright

I had some questions about copyright, and he answered all of them. He was pleasant to talk to very professional. I was very pleased. I've been using legalzoom for many years, and I love you guys. Thank you.

NORINA PURRO
58 days ago
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Happy customer

Ms. Green, was very helpful in assisting me step-by-step in guiding through the process in getting my copyright application. She was patient and very polite. She offered to follow-up on my completed, make sure the process was successful.

Ayesha
64 days ago
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Superior Customer Service

Superior customer service and expertise from Patti Green. I have a urgent need for an attorney consultation regarding state level copyright law. Ms. Green quickly and seamlessly steered me to the plan which affords this service. The consult was immediately scheduled for the next day. To say the least, this experience was exemplary.

Guy Hampson
69 days ago
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Copyright registration

Karen helped me immensely during my copyright registration. Very patient. Carrie was alos very good over there.

rjparadee
113 days ago
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So far whenever I have tried to work…

So far whenever I have tried to work with Legal Zoom it has been a great experience. Both Holly and Denise have helped to make my tour of the legal process for a copyright excellent and I now have my copyright in my hands. I might add that I am amazed I got it under the oligarchy at all after doge got done.

Connie Lednum
107 days ago
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Great Copyright Registration Experience

Walked me through the process to register my copyright. Made everything quick and easy!

Cheryl C
126 days ago
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Your expertise and knowledge of my…

Your expertise and knowledge of my questions regarding my copyright I applied for was nothing less than stellar!

Lorenzo Vito
153 days ago
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Time and clarity

Thank you for your time and clarity explaining items from my behalf in regards to Copyright material. I also appreciate the no queue waiting on line when I called. I do recommend you.

Adriant Sanchez
161 days ago
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Elizabeth was AMAZING!!!

Elizabeth was AMAZING!!!, She walk me thru the whole copyright process. Thank you

Adewale Agboke Jr
169 days ago
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Very responsive and was able to answer…

Very responsive and was able to answer my questions about Copyright options quickly and professionally.

Daniel White
324 days ago
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Great customer service

Great customer service! The LegalZoom representative showed genuine care. She followed up on my Copyright Order, and remembered me and my name from the previous Copyright phone call. She was very helpful and represented LegalZoom with excellence. Thank you for hiring, and retaining such a talented energetic representative.

Joshua Earl
565 days ago
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Legal Zoom Delivers On Their Promises!

Legal Zoom is professional, accommodating, and gracious. We went to them for copyright help, and true to their promise, we accomplished this endeavor in 30 minutes. EASY!! What a fresh breath of air to find a company that delivers exactly what they say they will! We'll be a Legal Zoomers for life!

Alice Osborne
1203 days ago
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Better than "Uncle Sam"

I had to get a copyright done and got nowhere with the U.S. Government Copyright Office, it was a joke! Legal Zoom took care of it and had me "fixed up" in 5 minutes. Thank You, Legal Zoom!

Padu
1310 days ago
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Legal Zoom performance is exceptional

Legal Zoom his handled four copyright applications for me and they are exceptional.

C Robert Cales
1587 days ago
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Copyright application

I am a new author and am filing copyright for my manuscript. My experience with LegalZoom has been very successful and a pleasure. The associate was knowledgeable and a pleasure to work with. I would recommend this service.

DJS
1748 days ago
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LegalZoom's Guidance is the best

I'm applying for a copyright for the first time and I was very nervous. My status page told me there was a problem and I should call LegalZoom. Kirk explained it was just a simple confirmation that was needed and he took the time to explain why its needed and talked me through what happens next. LegalZoom is just the best thing for a first time business owner like myslef.

rjlog
142 days ago
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This is my 2nd provisional patent with…

This is my 2nd provisional patent with Legal ZOOM. This time I dealt with Mak Champ he was Great, went out of his way to make it as easy as possible. Thank You

JoeSnook
168 days ago
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Great Experience with LegalZoom

My experience in submitting a Provisional Patent Application has gone very smoothly so far. Customer Service and Support was very prompt and answered all my questions very quickly. I highly recommend Legal Zoom.

Viki Mann
226 days ago
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Sandra helped me make the additional…

Sandra helped me make the additional orders on my account for the patent information. She helped me on everything I asked for. Thank you for making a difficult process much easier. thnx.

Rodney Kreinbrink
287 days ago
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Tiffany was patient,professional and thoughtfully thorough!

Tiffany was patient, professional and thoughtfully thorough in her assisting me through procedures involving my patent processing!!

Valued Customer DT
287 days ago
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Professional and Kind

Carrie was extremely helpful in answering my general questions regarding the trademark and provisional patent application process and fees. She was clear and succinct while maintaining a level of kindness and understanding of my needs. She provided the exact information I needed, saving me time and effort in researching via other routes. Thank you!

Teresa
882 days ago
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Did a provisional patent application…

Did a provisional patent application (PPA). Streamlined and professional. Very helpful if ever needed. Always a pleasure to work with.

Bill K
930 days ago
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Wes is always great to talk to

Wes is always great to talk to. He seems just as excited as we are about the next step in our patent process

Ann
932 days ago
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LegalZoom is a great resource for…

LegalZoom is a great resource for anyone needing legal advice and in my case patent applications.

Patrick Walker
946 days ago
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Great service

Great service, easy to understand each step in the patent journey. Wes my account manger was great and extremely helpful. I firmly recommend this service to anyone who has an invention they need protecting.

Tony Cooper
Rated4.6out of 5 based on23,912+ reviewson

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