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Three Critical Questions
to Ask when Selecting a Company for the Development of
Your Product
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- What phase is your design now?
- Is it just a concept sketch?
- Does a drawing exist?
- Is it fully developed, designed,
prototyped, and ready for manufacture?
- What do you want from the company
that ultimately manufactures the part?
- Buy your idea outright so they
can market it themselves?
- Pay you a royalty for every part
sold?
- Manufacture the part for you
so you can market and ship the product yourself?
- Just develop a design/prototype
so you can show it to prospective clients and assess
whether there’s a market for your idea, and at
what price point?
- Other things to consider
- What experience does the company
have in development of new products?
- How many years have they been
in business?
- Can they show you examples of
prior work?
- Can they help you with patent
issues?
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