The Legal Considerations of Toy Invention?

Answer 1

Toy invention can be a highly exciting and rewarding endeavor. All it takes is one good idea for a creative person to tap into the lucrative toy market. Once a toy inventor has come up with a wonderful product idea, the work is far from over. A toy inventor must shift from a creative mindset to a business mindset. He or she must carefully consider several key legal issues.

The first legal concept that any toy inventor should understand is intellectual property. It is important to safeguard one's inventions. If inventors have created truly innovative toy inventions, they can seek patents. A patent will demonstrate that a toy inventor is the sole owner of his or her invention. It will also establish that no one else can legally create a toy that infringes on the toy inventor's patent.

Some toy concepts might not be unique enough to patent, but certain aspects of their name or design could still potentially be trademarked. A trademark is a form of legal protection. Inventors are wise to pursue their patent and trademark options. They should also be careful to ensure that their own toy invention does not infringe on any existing patents or trademarks. Intellectual property theft can result in stiff penalties, even if it was unintentional. Seeking the counsel of an intellectual property attorney is essential for any toy inventor, as is performing a thorough patent and trademark search.

Once inventors have secured their patents and trademarks, they can either set up shop and produce their toys from scratch or they can license their toys to larger companies. Licensing is often the chosen method for toy inventors because creating the infrastructure necessary to successfully produce and distribute toys is quite costly. After a licensing deal is negotiated, toy inventors can sit back and receive royalties while a big toy company does the hard work. An additional benefit to licensing is that the inventor is usually more protected from any potential lawsuits in the future brought by consumers relating to safety issues with the toy.

Many legal issues can arise during the negotiation of a toy licensing contract. Many inventors are so excited to have a big company interested in their toy invention that they will not be thinking clearly. They also generally lack an understanding of the legal nuances involved. Experienced legal professionals can negotiate the best deal for a toy inventor.