INVENTION*
SELF-EVALUATION CHECKLIST
* Or innovation, i.e. a new improvement of an existing idea
© Inventors Trust 2005 PO Box 19 655, Avondale, Auckland, NZ
This checklist may be used on its own, as a prompt to help you develop
your current idea, to compare two or more ideas, or as a useful first
step in the invention evaluation process which the Inventors Trust has
available.
To use, simply rate your project out of the maximum scores at each step
and add up the total.
Working Name of Invention...........................................................................
Date......................................
| |
THE MARKET |
|
| 1. |
1. Research results on likely demand or need for the product -
will people want it and buy it? |
/20 |
| 2. |
Research results on novelty - e.g. a check on the marketplace
or via internet or patent search etc. to see if it is really new. |
/10 |
| 3. |
Rough estimate done of the nature and size of the market - who
will your customers be and what quantity might realistically sell? |
/10 |
| 4. |
Does it fit into or benefit from any current trend? |
/5 |
| 5. |
Rough estimate done of cost to produce and of price to the end
user.
(As a guide, the cost will need to be approximately 1/3 of the retail
price.)
|
/5 |
| |
|
|
| |
TECHNICAL |
|
| 6. |
Have you done any practical testing of your concept? |
/5 |
| 7. |
Have you been able to make a basic working model or prototype? |
/10 |
| 8. |
Assessment of technical feasibility - will it work? |
/10 |
| 9. |
Have you recorded the progress of the project - i.e. notes, or
a diary?
(Valuable for several - including technical - reasons)
|
/5 |
| |
|
|
| |
WIDER IMPACT |
|
| 10. |
Potential for improving the environment. |
/10 |
| 11. |
Potential for positive social impact. |
/5 |
| 12. |
Potential for creating new job opportunities. |
/5 |
| |
|
|
| |
TOTAL |
/100 |
Be Objective!
A low score may indicate that the project is still at a very early stage,
or you need to do more research, or the project has limited potential.
A high score may well indicate increased chances of commercial success,
but… keep in mind that it is almost impossible for an inventor
not to be biased about their own invention! You are wise not to invest
significant funds into either serious development or intellectual property
protection until you have established the basic viability of your idea.
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