Whether you’re launching a physical product or a service, our tips and expert guides are here to help. We cover a whole range of topics from how to execute a successful product launch and manage the product life cycle, to ongoing product development and refinement.
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How do I know if my new product will be a success?
You don’t. Nobody launching a new product can know for sure that their product will be a success. Even Google has had product failures. But by doing your homework, reading up on the market and competitors, and listening to customer needs, you can put yourself in a confident position for launch.
Do I need a patent?
Not necessarily. According to Gov.uk, a patent “officially registers your product or invention and lets you take legal action against anyone who makes, uses, sells or imports it without your permission”. That means it basically protects you from someone stealing your product idea for a limited time. You also can’t patent anything – it needs to be patentable, such as inventions, e.g. processes, machines, manufactures.
Do I need a trademark?
It can be a good idea but it depends on how important that word, phrase, symbol is to your business? Trademarking your name or logo, for example, could be beneficial in protecting in from being used by someone else… but it’ll come at a cost. So, how important is that right now versus your other expenditure? Would money be better spent proving the business idea will work?