SCWatrboyo1 Posted February 28, 2019 Posted February 28, 2019 So to make a long story short, I am an adamant Deer hunter and smallmouth Fisherman on the river. To show my love for both, I worked two jobs throughout my twenties and still do in my mid 30's, and bought 100 acres on a local river in the heart of a great area for smallmouth fishing. So prior to this I fished for smallmouth here and there, but due to the lack of public access, it was hard, but now I fish it when the river level permits. So after 5 years of fishing I found a jig head that the brown fish absolutely love, but sometimes hook sets area problem as durability. So a good friend of mine is a great machinest and he is helping me with a design, that in my opinion will help with hooksets and also not destroy the plastics as much. So with this being said should I try to copyright/patent or what?? I've also talked to a lawyer, but I don't want to spend a lot of money as I would love to make and sell some baits, but don't want to be in legal battles, but also dont' want someone stealing my idea??? Thanks guys I will also note that some might think its dumb, but with the amount of time I've spent on the river, in currents it will work great, and if I do get into selling it, I'd like to sell it myself(on forums like this) and make approximately $1 per jig head after all work is done. After doing the math, each one will cost me approximately 35=40 cents if everything I buy is in bulk, and that includes paint, hooks, bait keeper, wire guard, lead. Quote
Global Moderator Bluebasser86 Posted February 28, 2019 Global Moderator Posted February 28, 2019 You can get a patent, but how much that really does??? Zman has a copyright on the Chatterbait, there's no chatterbait copies out there right? The changes have to be so minor it seems to get around patents that I honestly don't know if they're worth the paper they're written on anymore. You might be better off trying to sell to a big company and collect royalties per pack sold or something like that. 1 Quote
SCWatrboyo1 Posted February 28, 2019 Author Posted February 28, 2019 so far everything I have read, it wouldn't be worth getting a patent on, but just some way to keep someone from buying one and duplicating it. I Don't know. I am super excited about it, because I know it will catch fish, it will be designed specifically for river fisherman. but will also be something to use in lakes Quote
cadman Posted February 28, 2019 Posted February 28, 2019 I will have to agree with bluebasser. Unless you have unlimited funds to protect your idea, even if you have the greatest bait on earth you will lose to people stealing your ideas. If it doesn't happen in the U.S.A., China will knock it off and sell it for less than 1/2 and you won't win that battle. Like mentioned, try to sell your idea to a big company, take your money and go home. Here is another scenario. If you decide to pursue this, I would suggest to make sure you have enough product to flood the market before anyone has a chance to copy it. By the time they do, you will have made all the money you will probably get on the initial concept. The problem with this idea is you will need a lot of product and product cost money. Another problem is you don't know if this will even sell. Just because it works for you in your area doesn't mean it will work for everyone, and if it doesn't sell you are stuck with product that you already paid for. You also have to pay to market it. Word of mouth isn't going to cut it unless you are a professional fisherman and have your own TV show. Not to be negative, but there are a lot of things to consider here. If it were easy everyone would be doing it, however you may have the next "Flying Lure" or "Chatterbait" idea. Good Luck. 1 Quote
BoatSquirrel Posted February 28, 2019 Posted February 28, 2019 Keep it simple and keep it to yourself. Those of us on this forum will buy enough to keep you in business! The Bass Talk Live guys did a terrific documentary about the long difficult road to the development of the chatterbait, just for a reference... https://www.basszone.com/copy-of-dancing-with-the-devil Quote
Super User smalljaw67 Posted February 28, 2019 Super User Posted February 28, 2019 I don't mean to pile on as the others have given you great insight of what to expect but I can add to it a little bit. What you need to remember is that even if you want to sell them on a small scale it isn't as easy as getting money for your product. You said it would cost like 35 or 40 cents to make and you'd like to make a dollar per bait profit. You need to know you have to pay an FET (Federal Excise Tax) of 10%, plus quarterly taxes on the income you make not to mention your local zoning requirements and how much you can manufacturer before you need a commercial property or how much you can make as a home based business before you need to move to a commercial building or area. That is what needs to be addressed, it is more complicated than most realize and trust me, you don't want the IRS to estimate what they think you made if you get caught selling without being fully compliant on your tax forms. It doesn't have to be scary but you need to address all that stuff before even thinking of patents and stuff. 1 Quote
SCWatrboyo1 Posted February 28, 2019 Author Posted February 28, 2019 32 minutes ago, smalljaw67 said: I don't mean to pile on as the others have given you great insight of what to expect but I can add to it a little bit. What you need to remember is that even if you want to sell them on a small scale it isn't as easy as getting money for your product. You said it would cost like 35 or 40 cents to make and you'd like to make a dollar per bait profit. You need to know you have to pay an FET (Federal Excise Tax) of 10%, plus quarterly taxes on the income you make not to mention your local zoning requirements and how much you can manufacturer before you need a commercial property or how much you can make as a home based business before you need to move to a commercial building or area. That is what needs to be addressed, it is more complicated than most realize and trust me, you don't want the IRS to estimate what they think you made if you get caught selling without being fully compliant on your tax forms. It doesn't have to be scary but you need to address all that stuff before even thinking of patents and stuff. Dont disagree with any of y'all, but before I sold any I would make a lot and I would only be a hobbyist so smalljaw majority of your comments arent a concern unless it takes off. But yes if it did take off then yes all you mentioned would be a concern, but I'd be so d**n happy I wouldnt care, haha. But as mentioned I'm not in it to make a killing it'd be more of a hobby and fun to actually see the jig work for people across the country Quote
Will Wetline Posted March 1, 2019 Posted March 1, 2019 SCWatrboyo1, You say your baits would cost only 35 or 40 cents each? I'm real curious how you came up with that figure. Are they bucktail jigs with hair from the deer you harvest? Is it your own labor or have you found an overseas source of jig tiers? I ask not because I want to rain on your parade, but because I want to save you emotional pain and financial stress. I have no idea what overseas production costs, but being a designer and maker of my own bucktail jigs, I do know that I'm not even making minimum wage for a finished product when I calculate all (materials, packaging, promotion and especially labor) costs. And then you've got taxes to be paid . . . Hey, I do wish you the best, but do think this venture through thoroughly. Quote
Super User J Francho Posted March 1, 2019 Super User Posted March 1, 2019 On 2/28/2019 at 12:43 AM, Bluebasser86 said: Zman has a copyright on the Chatterbait, there's no chatterbait copies out there right? You cannot copyright a bait. Copyright is for written works, art, digital content, music, motion pictures, and photography. What the OP needs is a patent. It is a lengthy and expensive procedure. You'll need to start by retaining a lawyer familiar with patent law. Quote
SCWatrboyo1 Posted March 1, 2019 Author Posted March 1, 2019 4 hours ago, Will Wetline said: SCWatrboyo1, You say your baits would cost only 35 or 40 cents each? I'm real curious how you came up with that figure. Are they bucktail jigs with hair from the deer you harvest? Is it your own labor or have you found an overseas source of jig tiers? I ask not because I want to rain on your parade, but because I want to save you emotional pain and financial stress. I have no idea what overseas production costs, but being a designer and maker of my own bucktail jigs, I do know that I'm not even making minimum wage for a finished product when I calculate all (materials, packaging, promotion and especially labor) costs. And then you've got taxes to be paid . . . Hey, I do wish you the best, but do think this venture through thoroughly. I didn't factor in the overhead cost for the Lee pot which was 60 bucks, then where I will be making them, I'll have no cost in electricity. As mentioned these are just jig heads, not jigs, so only material I will be using are hooks, lead, bait keeper, powder coat. But ill also mention theres not much to think about as im making the bait mainly for myself as I know it will catch fish in the river I fish, but as far as my initial investment will be to make 2000 jig heads in two different sizes(actually 4 two different weights and two different hook sizes each. No stress to me initially spending approximately $700(which is very conservative) Anyways I was just curious. I guess the only factor I haven't factored in are bags. I'm also working on a label, but that is more for just fun and it might cost some money as well, but like I mentioned finances for this will never stress me, as the bait I currently use I probably spend 200-300 dollars a year on for aobut 1-150 jig heads Quote
SCWatrboyo1 Posted March 1, 2019 Author Posted March 1, 2019 2 hours ago, J Francho said: You cannot copyright a bait. Copyright is for written works, art, digital content, music, motion pictures, and photography. What the OP needs is a patent. It is a lengthy and expensive procedure. You'll need to start by retaining a lawyer familiar with patent law. yeah that's a lot of what I have read, but I've also read if patented, that someone could steal it and send it overseas, so really just wondering if I just need to keep it to myself try and sell on forums and just hope no one comes along and tries to mass produce a copy. thanks for the response Quote
SCWatrboyo1 Posted March 7, 2019 Author Posted March 7, 2019 On 2/28/2019 at 6:39 AM, cadman said: I will have to agree with bluebasser. Unless you have unlimited funds to protect your idea, even if you have the greatest bait on earth you will lose to people stealing your ideas. If it doesn't happen in the U.S.A., China will knock it off and sell it for less than 1/2 and you won't win that battle. Like mentioned, try to sell your idea to a big company, take your money and go home. Here is another scenario. If you decide to pursue this, I would suggest to make sure you have enough product to flood the market before anyone has a chance to copy it. By the time they do, you will have made all the money you will probably get on the initial concept. The problem with this idea is you will need a lot of product and product cost money. Another problem is you don't know if this will even sell. Just because it works for you in your area doesn't mean it will work for everyone, and if it doesn't sell you are stuck with product that you already paid for. You also have to pay to market it. Word of mouth isn't going to cut it unless you are a professional fisherman and have your own TV show. Not to be negative, but there are a lot of things to consider here. If it were easy everyone would be doing it, however you may have the next "Flying Lure" or "Chatterbait" idea. Good Luck. Dont forget about the helicopter lure Quote
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