Patent ID: 6542871
Filing Date: 2003-04-01
Classification: G06Q

Abstract:
An automated method for developing new products, comprising the steps of:providing a plurality of pools, each pool associated with a predetermined subject matter and administered by a pool manager; receiving electronically, using a computer data processing system accessible through a wide area network, a predetermined number of new product concepts into each said pool, each said new product concept being registered by a submitter to one of said pools having a subject matter in common with the subject matter of said new product concept; selecting a single new product concept from each pool for market introduction once said predetermined number of new product concepts has been received into said each pool; wherein said step of selecting a single new product concept further includes the steps of: analyzing each new product concept received into one of said pools relative to marketability; analyzing each new product concept received into one of said pools relative to patentability; analyzing each new product concept received into one of said pools relative to technical feasibility; transforming each said selected new product concept into a developed new product suitable for introduction to the marketplace; and licensing each said developed new product to a manufacturer for manufacture, distribution, and sale in a market mutually selected by said pool manager and said manufacturer, each said license providing a source for royalties, the royalties providing a source for making payment of a first portion of said royalties to the submitter of said selected new product concept and for making payment of a second portion of said royalties smaller than said first portion of said royalties in equal amounts to the submitters of each new product concept not selected and for making payment of a third portion of said royalties smaller than said first portion of said royalties payable to said pool manager.