Small businesses and individual inventors are often looking for partners to assist in bringing their inventions to market.  Although many larger companies are open to invention submissions from outside parties, they typically accept submission under limited conditions and take a very passive approach.  Procter & Gamble is an example of a company that stands out from the others in their approach.  Connect + Develop is a program through which P&G actively solicits invention submissions from the public.  Although their history of open innovation extends further back, in 2002 P&G formally started their Connect + Develop program.

P&G’s philosophy is that by opening their innovation process to third parties, they can leverage the best of innovation, essentially fostering a partnership with the public.  In an interview in November of 2008, Jeff Weedman, Vice President, External Business Development, said of the Connect + Develop program, “Ultimately, we want people with great ideas to come to us and let P&G show them how to best use those ideas.  But we also want to be able to share with them the (financial) rewards and protect their intellectual property.”

If you are an inventor looking for a company to help bring your invention to life, take the time to look at P&G.  They have a description of their program, a portal for submission, a well organized description of specific needs and an FAQ related to their program.  I appreciate P&G’s approach to innovation and it might be a valuable opportunity for you and your invention.

Tags: entrepreneurship, intellectual property, invention submission, licensing