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From InventorSpot.com
May
7
When Should I Patent My Invention?
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So, you want to sell your idea for a patent? Here are some factors to bear in mind.
The companies who are your potential purchasers have different criteria for accepting new ideas. Typically, larger companies demand that you have either a patent or patent pending prior to even looking at your invention.
Other small to medium size companies may be willing to look at your ideas with no patent pending and without a prototype.
In fact, one notable U.S. hand tool manufacturer accepts ideas without a patent and without a prototype. If they like it they will build a prototype, test market it within the company, and you still have the opportunity to potentially patent it on your own, AFTER you know that a company sees value in your invention and wants!
See how dramatically different these two approaches are. One suggests that you at least initiate the substantial expense of applying for a patent, PRIOR to even submitting your invention to a company, and the other approach allows you to forego this expense until AFTER you at least get some indication as to the potential marketability and interest in your invention.