Due Diligence research is a very important part of any new product going to market. With our extensive product development experience we have found that the right research and engineering insight early in the design phase is crucial to the success of any product. Our Research phase is an initial Definition phase of how to approach the design of the product that will be beneficial to the end use consumer. By identifying the best designs of a product initially, it essentially saves our clients time and money that could have been wasted with drawings and engineering that was not necessary. The question many people have is: When is the right time to do this research? The answer is that you can do it either at the beginning of full engineering and prototyping, or you can do it after engineering and prototyping is complete. If you wait to do the research after engineering, you are not losing anything because our team may find information that could be used to enhance the protection of your product in the future. It is best to call and discuss the right time to do research based on your needs for the product.
Most Inventors and Entrepreneurs don’t realize that just doing a simple patent search is only half of the real research that needs to be done when considering taking a new product to market. We have a Proprietary Process of combining a complete U.S. Patent Search, Competitive Market Analysis, and having our Degreed Engineers do a full Engineering Review and Product Improvement Report. Although Patent Attorney’s do a very good job of providing a patent search, they do not evaluate the competitive products on the market and do not provide an opinion on how to make the product better or more unique. Patent Attorney’s must have a degree in Engineering to pass the patent exam, and our Engineering team is very skilled in providing you the best custom research and advice on how to make your product be the best it can be in the marketplace. The industry median pricing for a Patent Search is $2,000. Our Patent Research, Competitive Analysis & Engineering Improvement reports are 25% less than the industry median pricing, and our package takes a 100% custom approach to both patents and marketing. Marketing is key in any product success, because if you can’t sell your product, there is no point in investing in further development. By doing a full review of all aspects of your product, it’s competitors and having our engineering team suggest improvements, you will be miles ahead of just doing a Simple Patent Search.
IMPORTANT NOTE: All of our Patent Research, Competitive Analysis & Engineering Improvement Reports are 100% Custom for each product! We DO NOT duplicate this information from one product to the next! Our Engineers have degrees in Plastics Engineering, Mechanical Engineering, Manufacturing Engineering, Electronics Engineering & Industrial Design Engineering.
Read Below to look at the extensive research we can provide on your product idea.
PRG, Inc. will research and identify any existing Patents issued by the United States Patent and Trademark Office that are relative and similar to your product. A copy of all similar or relevant patents will be provided to you upon completion of this phase. This research will be done online with all available current information from the Patent and Trademark office. Although current research will be conducted, there is no guarantee that all patents will be found due to the Public Domain information and Patents pending with the Patent Office.
Competitive Market Analysis
PRG, Inc. will research and identify any existing Products that are relative and similar to your product. We use a variety of search engines to do this, some of which are internet research, press releases, blogs, magazine publications, etc… A copy of all similar or relevant products as well as our opinions of the design will be provided to you upon completion of this phase. Although current research will be conducted, there is no guarantee that all products will be found. Our goal of this phase is to look at existing technology, markets, and other applications that may be incorporated into the design of this product to make it superior in the marketplace. We will conduct market research on your product to determine where the feasible market opportunities exist, and how they can be approached. This includes identifying target companies that would be a good fit for further licensing opportunities.
Product Improvement Report
PRG, Inc. will conduct a formal Engineering meeting with our Degreed Engineers to provide design considerations and recommend any additions or improvements that would be desirable for this product. This definition phase of development is crucial when designing a new product. Our Product Improvement report will provide you with valuable data and professional opinions on what and how the best way to design the product is for the marketplace. This report will be provided to you so you can provide your feedback on what you desire for a finished product.
All reports will be prepared electronically and e-mailed to you in PDF format.
Before beginning any research, we will have you fill out our Product Description sheet so we can have a great understanding of your product and the function it is intended to serve. Our Engineers will also call you to discuss the product in detail before any research begins.
A review of our Due Diligence Research by a Registered Patent Attorney or Patent Agent is also available.
It takes 1 week to complete our full research package, but times can vary based on complexity of the product.
Other Areas of Expertise
- Contract Research and Development
- Education and Training in the Plastics Industry as well as Licensing and Product Development in general
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