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Got an idea? |
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| We, at Veol Labs, committed to develop paradigm changing innovative medical devices. Many high impact innovations are from individual inventors. We hope to help few of these innovations come alive. |
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| Here are few things innovators may wish to do for better appreciation of their concept.: |
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Sign a Non-Disclosure Agreement (NDA) with anyone with whom you share your concept. Even with us. Though trust is most important, legal agreements like these helps you retain and protect your intellectual property rights. |
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Expand your innovation to 4-10 page document. This document may include prior art in the area, drawbacks of the existing products, novel aspect of your invention, possible advantages and applications. Drawings, hand drawn sketches may be used to illustrate the concept further. |
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You may file provisional patent which is essentially this expanded concept description. Provisional patents are cost effective and easy way to protect your inventions. However you must file a complete specification within 12 months from the date of filing provisional application or else you will lose your right on the invention. |
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Prototypes, working models, some proof of visibility data may help convey the concept better. Making such prototypes also shows your interest and sincerity in making the invention come alive and increase its value. |
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Understand the market. You may wish to read through the market research reports, search internet, talk to users and gauge the market value of your invention. At times, even the industry may not know the real value of your concept and this market knowledge may be all the more useful. |
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| Based on the understanding of the market and the feasibility aspect of the invention, inventor may decide to develop the concept further before licensing it. Market value and development stage more or less follow graph below: |
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| Depending on the investment capacity and confidence in the invention, the inventor may decide to take the invention from concept stage to clinical trial. Commercial partners may be roped in during product development. |
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| We understand that non-corporate innovators have limited resources to develop the product, many of which are truly paradigm changing. We are not just cost effective in providing product development services, we will explore all options of help including seed investment, venture capital, tie-up with larger firms, licensing, acquisition, partnership and loans, for you. |
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| Acting as an incubator, Veol Labs provides consultancy, guidance and may also make seed investment in your innovation. You may want to contact our CEO
and discuss your challenges. |
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| Note :-Information is only for guidance and not a legal advice. |
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| NEWS |
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Veol Labs and Defiance Technologies sign a strategic MOU to further strengthen the services offerings to its clients
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VeolLabs launches their Third White Paper to provide insights on Medical device product development for emerging markets
Keep watching this space for our next upcoming edition of white paper.
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