Can a new found chemical reaction make one become millionare?

[AlienUFO]

I heard from my friend that if one can invade a new highly commercialise chemical or biological reaction they could probebly earn a lot.

 

But I don't think so, because he maybe hasn't consider other practical or other problems yet. So what do you know about that?

[RyanJ]

Well, if you can find a product that does something industrially important and is more effective then what they currently use that shure will make you a lot of money because you can then sell it to the company.

 

Also, if you could find something that would fill a open gap in the market then that also has the potential to get the maker a lot of money.

 

Cheers,

 

Ryan Jones

[YT2095]

there`s basicly 2 ways, Sell the Formula/Method outright, Or develop it yourself and market the product.

you need to asses each situation on its own merits, there is no ONE specific answer. but sure, if it`s good, you`ll make money

[AlienUFO]

What does "Sell the Formula/Method" mean? How we determine the "price" of the formula/product?

[YT2095]

what don`t you understand?

 

as for price, you basicly take your idea (avoid giving samples away) and approach various companies with it, and then find out if they want it and what it`s worth to them, talk with the ones that offers the best deal, and then try get more out of each. settle with the highest bidder

[gcol]

some somewhat naive replies there.

 

Take it from one who has been/is going down that route.

 

A couple of real-life reasons for rejection:

 

Budget all used up this year.

 

Wonderful idea, but it conflicts with our existing product range.

 

Our patent attorneys are having difficulty drawing up a watertight patent.

If we cant do that, the Chinese are certain to rip it off.

 

For security reasons, you must sign the official secrets act before any discussions take place. (then we will claim all rights to your idea for national security reasons).

 

We will not sign a non-disclosure agreement until we have full details of you idea. (then we will rip it off.....we can afford the lawsuit, you cant.)

[YT2095]

some somewhat naive replies there.

 

Take it from one who has been/is going down that route.

 

I assume since there`s only been 2 folk reply so far that the "naive" bit applies to me also?

 

this is a Route I also have been down too, and yes I agree that the "sign this 1`st" part is indeed often the case.

however the the OPs question was simply worded and was given a simple/general reply.

When/If details are asked for, they will no doubt be given, but thus far all is kept at the level of the question asked.

 

you Judged incorrectly.

[gcol]

Naive? you? perish the thought and wash ma mout wi' soapy water!

 

It is just that a minnow with a bright idea swimming in a sea of sharks is a tasty mouthful. Having a bright idea is the easy part. Bringing it to market and making money from it is an order of magnitude more difficult. You need dogged determination, the skin of a pachyderm, and the good sense not to throw money away chasing rainbows.

 

P.S., have just learned that one of my ideas is being field-tested by a manufacturer, after three years of marketting endeavour and being within minutes of burning the documentation or putting it in the public domain just to spite them all. Still a long way to go, but hope springs eternal........

[Prime-Evil]

Why would we want to get rich anyway?

I thought our job was to make them rich.

oops, I mean serve all of mankind.

[Externet]

Yes, Alienufo.

As if you discover a reaction to reverse vulcanization to turn old tires back to rubber to make new tires.

Selling that formula/method could yield figure$ you cannot imagine.

Miguel

[ecoli]

Kary B. Mullis could have gotten filthy rich off of PCR, but he was working for a company at the time, and didn't get a patent (I mean to say, his company got the patent, not him).

[SkepticLance]

In theory you can get rich.

 

In practise ...

 

First you have to patent your idea. Last I heard, that cost at least USD 100,000 to do in the major countries.

If you don't (and even if you do) you are likely to have your secret stolen.

 

If you are successful with a patent...

 

Statistics show that 49 out of 50 people who try to commercialise their own patent end up losing money.

[silkworm]

If you find a cheap and easy way to fix nitrogen you'll be a bizillionaire.