So you have an idea

When asked why he climbed the Everest, Mallory is quoted to have answered, “because its there”. Many times creation is a similar process. Our ideas evolve and revolve, it is our choice to air them or let them be. One of the considerations of airing ideas which can become inventions, is that there is significant perceived value in inventions. The pertinent question is how to best realize that value.
Inventions are not created equal and different ideas have different paths to value.
Ideas can become start up companies, raising money and ploughing towards an exit or IPO. They can become apps to be sold on the AppStore. They can be placed in the public domain as open source or through publication. Sometimes, the ideas themselves can be sold (or licensed). Some industries, are more receptive to an ‘idea market’. A place where ideas can be bought or sold. One such example is the toy industry, where its scouts seek out new ideas from the general public. ‘open innovation’ is another such marketplace where idea seekers publish their problems and crowd source solutions and ideas. From my experience, these processes are inefficient and without proper guidance create frustration with inventors. My search for an idea market place led me to Intellectual Ventures.
IV, addresses the deficiencies and limitations of crowd sourcing by creating a community of inventors and a monetizing approach that provides both short and long term compensation. Over the past year I have been building an inventor community for IV in Israel, and I hope to share my insights from this ongoing project in future posts.


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