How to Invent New Products

Admit it: You’ve had at least one idea for a “million dollar product” in your lifetime. But chances are, you never actually followed through and saw your idea actually come to life. Am I right?

The idea of envisioning something new then developing it into a viable product is as old as the American Dream. But if you want to know how to invent products the right way — and there is a ton of information to digest — the best person I know to consult with is Louis Foreman. He joins me on today’s podcast to delve into the fascinating world of product ideation, development and commercialization.

Louis is founder and Chief Executive of Enventys, an integrated product design and engineering firm. He is also CEO of Edison Nation, and Edison Nation Medical.

Read on for his complete bio.

Louis graduated from The University of Illinois with a Bachelors of Science degree in Economics. His interest in starting businesses and developing innovative products began when he was a sophomore and started his first company out of his fraternity.

Over the past 20 years, Louis has created nine successful start-ups and has been directly responsible for the creation of over 20 others.

He is the inventor of 10 registered US Patents, and his firm is responsible for the development and filing of well over 600 more.

He is a frequent lecturer and radio/TV guest on the topics of small business creation and innovation, and he is frequently invited by the United States Patent and Trademark Office and national trade associations to be a featured speaker on the topic of innovation.

In addition to being an inventor, Louis is also committed to inspiring others to be innovative. Louis is the creator of the Emmy® Award winning PBS TV show, Everyday Edisons, and serves as the Executive Producer and lead judge. The show is in its fifth season and appears nationally on PBS.

In 2007, Louis became the publisher of Inventors Digest, a 32-year-old publication devoted to the topic of American innovation.

In 2009, his first book, The Independent Inventor’s Handbook, was published by Workman Publishing. In 2015, Louis was awarded the IP Champion Award by the US Chamber of Commerce.

Louis currently serves as Chairman of the Board of Directors of the James Dyson Foundation, the Intellectual Property Owners Association (IPO), Ventureprise, New Dominion Bank, and is President of the Intellectual Property Owners Educational Foundation (IPOEF). In 2013, Louis was appointed by SBA Administrator, Karen Mills, to serve a three year term on the National SBDC Advisory Board.

In 2008, Louis was appointed by United States Secretary of Commerce Carlos M. Gutierrez to serve for a three year term on the nine-person Patent Public Advisory Committee (PPAC) of the United States Patent and Trademark Office. In 2011, he was appointed by Secretary Gary Locke to serve an additional three year term. The Committee was created by Congress in 1999 to advise the Under Secretary of Commerce for Intellectual Property and Director of the United States Patent and Trademark Office on matters relating to the policies, goals, performance, budget, and user fees of the patent operation. In 2011, he also was called upon, multiple times, to brief the House and Senate Judiciary Committees on legislation related to the US Patent System and its impact on independent inventors. On September 16, 2011, Louis joined the President on-stage to sign the America Invents Act into law. This bi-partisan effort represented the most comprehensive overhaul to the US Patent System in over 60 years.

In 2013 he was asked to serve as Chairman of PPAC until the end of his term in December, 2014.

This episode is on iTunes, iHeartRadio, Soundcloud and Stitcher.

Show Links

Eventys

Edison Nation

Originally published at goforlaunch.io on August 22, 2016.