Anyone here know how to sell a product/idea to a major company? - Fuel Economy, Hypermiling, EcoModding News and Forum

justanothernoob · 11-12-2010, 12:39 PM

Ok,

Here's the problem- I have a product that can add up to a 20% (average is about 15%) increase in fuel mileage. Doesn't sound like a problem yet right? It could be blended into oil or added directly to the crankcase and achieve the same results- it is friction reduction that allows the fuel savings as well as added horsepower from reduced drag. It has been proven to increase durabilty and extend times between rebuilds in heavy equipment. It has been run through numerous tests by an accredited oil testing firm. It has been patented (Canadian and US). It has been marketed in Canada and abroad, but not in the USA.

I am out of money. I was working with a business partner to try and bring it to market in the US using the blended in oil plan (the additive approach was used in Canada and abroad and failed, except for some pockets in the heavy equipment industry) and marketing it at first to the high performance/racing market and then spinoff a second line aimed at mainstream consumers. I started a small company with my partner to bring a different product to market that did not require the capital outlay, and guess what? Not going to name names- though I feel I should, but needless to say after 2 years I found the partner had stolen (most of the) funds that was going to be used to market the oil, and absconded back to Canada. This has wiped out the company and left me damn near broke.

So I am going to sell the product formula. The questions are many as I have never tried to sell a product that hasnt made it to market to any company. I dont even know what kind of lawyer to retain as counsel. Any lawyer types here that can point me in the right direction? Anyone have any input at all here? Anyone want to buy it?? Any and all input is appreciated. Dennis

Weather Spotter · 11-12-2010, 01:40 PM

First off, if this is for real and not snake oil like the other 5 a week we see, how would we know?

Second, I tend to think that if it works, get a patent and then let others use in and take the profits

No major company will buy your claim at face value, you need some reliable independent results.

If you have samples, send 10 of us some of it and we will do ABA testing. If it works will pay you for it. If not then the idea is dead.

I am sceptically but willing to try it if it works.

NachtRitter · 11-12-2010, 07:17 PM

B.S. meter is pegged in the red zone...

SVOboy · 11-12-2010, 11:54 PM

I'm pretty sure you won't be able to sell this product to use. Unfortunately for many consumers, big companies will often sell an unwitting population anything...

justanothernoob · 11-13-2010, 01:56 PM

I do believe I did not make myself very clear. Please forgive my lame joke to purchase it in my original post. What I am looking for is any input as to the process of selling a product to a big company. I was dragged into this product as a ground up guy- I have been in the manufacturing world and have been involved in setting up facilities as well as running them once completed. Like most of you I was like what kind of snake oil is this?? But once I saw the science involved became a instant champion. So my main interest the past few years has been getting enough capital to start production of the formulation, as well as a small bottling plant. The plan was to market it regionally then hopefully take it national as sales increased. Once the capital took off I am now focused on selling the formulation and get on with my main interests of producing a low cost everyday EV.

So does anyone here have any experiences in such an undertaking? All input is truly appreciated. Dennis

justanothernoob · 11-13-2010, 02:15 PM

Weatherspotter:
Please re-read the original post. It is patented. There has been extensive testing of the product both in the lab and in the field. Thats is the idea- sell it and let others make the "big" bucks, as I have found it really takes a large amount of money (millions to be somewhere in the game) to bring a product to market from the ground up. Dennis

justanothernoob · 11-13-2010, 02:18 PM

Nachtritter:
BS meter pegged??!!! All I am looking for is input- not yours or anyone else's money. Get a grip man. Really!

justanothernoob · 11-13-2010, 02:34 PM

SVOboy- why do you believe a major company wouldnt buy this formulation? I have analysis from a major independant oil testing firm that shows the improvements to any oil it was added to- including the synthetics. I have the science as to why and how it works in oil to reduce friction. A similar albeit much more expensive type of product has been available in the aerospace industry for about a decade or so. The real "trick" so to speak has been getting it to go into a suspension that will blend into the oil without turning it into a toxic waste product afterwards, which the stuff they use in the Shuttle does- the EPA considers it to be a toxic waste. Which is why you wont ever see that stuff on the open market. This product does not turn the waste oil into a toxic hazard. Dennis

Frank Lee · 11-13-2010, 02:46 PM

Yes, this is where all the venture capitalists hang out.

gone-ot · 11-13-2010, 02:54 PM

...get your lawyer talking with their lawyer(s).

...ain't nothing gonna happen until that happens.