FAQ

Have a question in mind? If you can't find an answer here please feel free to get in touch to ask it personally support@smartideastore.com

How does Smart Idea Store work?
Am I an investor or a commercial partner?
What services does Smart Idea Store provide?
What are the benefits of subscribing to Smart Idea Store?
How does Smart Idea Store keep information about my ideas or my business a secret?
How can I protect my idea so that other people or companies cannot copy or use them without my permission?
What are the costs of our service?
How do I subscribe?
Can I register as more than one customer or group?
What internet browsers support Smart Idea Store?

 

How does Smart Idea Store work?

Smart Idea Store is a business network website that introduces inventors with good ideas to investors who can fund the development and project partners who can help them turn that idea into a commercial product. Research institutions are considered as both inventors and project partners as they can develop their inventions into commercial products and offer technical expertise.

Inventors can create an idea homepage to promote their idea and attract investors and project partners. There are resources to help at every stage of the innovation process and a database of investors, project partners and research institutions with the services and products needed to turn ideas into commercial products.

Investors and project partners can create profiles to promote their services and products. There are resources and guides covering every stage in the innovation process and the opportunity to submit articles to highlight knowledge and expertise. There is a database of inventors looking for services and products and other project partners needing particular skills and expertise to form part of the project team.

Smart Idea Store simply introduces inventors to commercial partners and does not get involved with the negotiations between these parties. If you would like advice on commercial or legal issues or terminology or representation in the negotiation process, Smart Idea Store has legal and commercial experts on our database who can provide this service.

 

Am I an investor, inventor or project partner?

Smart Idea Store considers any person or company who have ideas that they would like help to develop into a commercial product, to be an inventor.

Any person or company that provides a service or resource, irrespective of whether these activities are undertaken on a commercial or a non-commercial basis, to assist the inventor in the development of their idea into a commercial product is a project partner.

Any person or company that provides funding, irrespective of whether these services are provided on a for profit or a not for profit basis, to assist the inventor in the development of their idea into a commercial product is an investor.

It is possible to register in more than one role; for example, a successful inventor may want to invest in other people’s ideas or a company can have the capability to design and manufacture your idea.

 

What services does Smart Idea Store provide?

Smart Idea Store provides a variety of services to our paid subscribers, which depend on whether you are an inventor, investor or project partner.

Services for Inventors

• Access to our resource document library to help evaluate ideas and project manage the commercialisation process
• Access to our database of investors and project partners to identify and contact the best people to help progress an idea

Services for Investors

• The ability to create an idea homepage to promote an idea and encourage more investors and project partners to join the project team and build up a demand from the public to buy the product.
• The ability to create an advertisement, for an additional fee, to promote your services to a targeted market of inventors, investors and project partners who are looking for your service.
• Add/edit original ideas at your dashboard after signing up. These contributions will be fully searchable and visible to investors and project partners also registered with Smart Idea Store.

Services for Project Partners

Subscribed investors and project partners can search our database of ideas to identify potential business opportunities and contact the inventor or project lead.

 

What are the benefits of subscribing to Smart Idea Store?

A paid subscription with Smart Idea Store gives a range of benefits, which depend on whether you are an inventor, investor or project partner:

Benefits for Inventors

• Resources to evaluate the potential and project manage the development and commercialisation of your idea
• Access to initial investment to fund the patenting of your idea
• A searchable database of potential investors and project partners for every stage of your project’s development
• A searchable database of experts to help assess the commercial, technical and legal issues associated with commercialising your idea
• Promoting your idea and its development, through the creation of an idea homepage to a targeted market of investor and project partners and members of the public through Smart Idea Store

Benefits for Project Partners

• A searchable database of idea homepages illustrating good ideas with patent pending to identify valuable business opportunities
• A searchable database of potential investors and other potential project partners.
• Promoting your business, service or resources, through the creation of an advertisement on our website, to a targeted market of inventors, investors and project partners.

 

How does Smart Idea Store keep information about my ideas or my business a secret?

Smart Idea Store enters into a confidentiality agreement with every customer who registers with our website. This ensures that any information that we receive from our customer, that they do not want publicised, is kept private and that any information that our customer receives from us is also not disclosed publicly.

It is entirely up to you whether to create an idea homepage to promote your idea and how much information you disclose. There are several options

• Create an idea homepage and succinctly explain your patented technology to attract most interest
• Create an idea homepage and explain the problem and that you have developed a solution; interested investors and project partners can then contact you and enter into a confidentiality agreement to find out more information.
• Search the database for suitable investors and project partners and contact them directly and enter into a confidentiality agreement before disclosing sensitive information.

Registered customers can download our template confidentiality agreement to use with their potential business partners.

 

How can I protect my idea so that other people or companies cannot copy or use them without my permission?

Any idea that is a creation of thought, such as inventions, designs, artistic, literary and musical works is collectively referred to as intellectual property. Intellectual property cannot be seen, touched or physically measured so is often called an intangible asset. Intellectual property rights are the rights given to persons over the creations of their minds. They usually give the creator an exclusive commercial right to use their idea (intangible asset) and turn it into a product (tangible asset) which prevents other people or companies producing similar products for a specified period of time. More information about intellectual property is available from The World Intellectual Property Orginization and the UK Intellectual Property Office.

There are four main types of intellectual property:

Patents
Patents protect what makes things work – like what makes a wheel turn or the chemical formula of your favourite fizzy drink.

Designs
Designs protect the appearance of a product/logo, from the shape of an aeroplane to a fashion item.

Trade marks
Trade marks are signs (words and/or logos) that distinguish goods and services in the marketplace.

Copyright
Copyright is an automatic right which applies when the work is fixed, that is written or recorded in some way.

The type of intellectual property that is of most interest to Smart Idea Store are patents, as we are looking to protect what makes things work.

Unless you have training or experience in drafting a patent, Smart Idea Store would suggest that a patent attorney drafts the patent on your behalf. Inventors can search our database of contacts to find a suitable patent agent.

 

What are the costs of our service?

The subscription costs have not been finalised but a provisional indication would be:

Inventors
• £50 per year, which includes the first idea homepage
• £50 for every additional idea homepage*

Individuals, businesses and inventor networks would all be considered inventors and subscribe accordingly.

Businesses and inventor networks would appoint a contact person who would be responsible for managing the subscription and posting idea homepages and updates.

*Serial inventors, inventor networks and research institutions can bulk buy credits:

• £200 for 5 credits;
• £300 for 10 credits;
• £500 for 20 credits

Investors
• £100 per year, which includes publishing their profile advert

Project Partners
• £100 per year, which includes publishing their profile advert

Research Institution
• £500 per year, which includes 20 idea homepages and profiles for all academic inventors and technical experts with the institution

We will be discussing the pricing structure with inventors, investors, project partners and research institutions during the pilot and will take these opinions onboard in determining the final prices for subscribing.

 

How do I subscribe?

You can subscribe online here.

 

Can I register as more than one customer or group?

Yes, we understand that you may be able to provide more than one service, such as an inventor who may want to register as a technical expert, and have designed the website to allow a registered customer to use the same login details to register multiple times as different types of customer.

 

What internet browsers support Smart Idea Store?

Smart Idea Store will work fully in IE9 and above. If you are experiencing issues in any other browsers including Firefox, Safari, Chrome and Opera, please make sure you are running the latest version and contact us if you experience further difficulties.