New Product Ideas Do you have an idea for a new product? Would you like to earn royalties for your idea? Thank you for your interest in Beekley Corporation. Many successful products have been developed by medical professionals looking for a solution to an everyday problem. For instance, Beekley's original X-SPOT skin marker was developed by three radiologists at the University of PA who thought it would be easier and faster to have a pre-made skin marker, instead of attaching a lead pellet to the patient with a piece of tape. Beekley licensed the patent from these doctors and worked with them to bring the product to market. The rest is history! Dr. Donald Russell, now a retired radiologist from Bristol Hospital, represents yet another successful partnership. Dr. Russell's relationship with Beekley began roughly fifteen years ago through contact with the sales department. It was Dr. Russell's idea to move from marking with just pellets to a four shape system for marking mammograms. This idea revolutionized skin marking in mammography and is the basis for many of the products Beekley sells today. Years later Dr. Russell also invented AccuGrid and CoreTainer, Beekley's imaging and transport systems for breast specimens. Many people with great ideas never do anything about them because they don't know who to go to or how to start the process. Below is a brief summary of how Beekley evaluates new product ideas. This should give you a clear understanding of next steps, timeline and how to move forward. Types of Products Beekley is Interested in:Beekley is most interested in low tech, disposable medical products. Some of Beekley's most successful products have replaced "makeshift" or something that medical professionals were making because there wasn't an appropriate product on the market. Protecting Your Idea:Before sharing your idea with anyone you should write a clear description of your invention (using ink). This, along with any drawings you may have, should be signed and dated by yourself as well as by two trustworthy people who have witnessed and understood your invention. Once you have contacted Beekley but before discussing your idea, Beekley's Product Development Specialist will send you two copies of a Mutual Confidentiality Agreement. This document protects you and your idea as well as protects any confidential information Beekley may share with you regarding our company or our products. After filling out both of these forms you will keep one for your records and mail the other to: Beekley Corporation To receive a confidentiality agreement, e-mail Beekley's Product Development Specialist, Maeghan Archambault at newproducts@beekley.com or contact her by phone at 1-800-233-5539 x462. You may disclose your idea in one of two ways. You can mail information about your product idea with the signed confidentiality agreement or the Product Development Specialist will call you to discuss your idea upon receipt of the agreement. Whether disclosing your idea in writing or verbally, please be prepared with as much of the following as possible:
The Product Development Specialist will do an initial evaluation to determine whether your idea fits with Beekley's business capabilities and company vision. You will be contacted within two weeks with a decision about whether or not Beekley would like to research your idea further. If we decide to pursue your idea, more in-depth market research will be performed to gauge market interest, potential volume, estimated pricing, etc. When an Official Partnership Begins:After evaluating the market research (1-2 months later), the Product Development Specialist will make a final decision on whether Beekley is interested in developing your product. If we decide to move forward, a detailed discussion will take place regarding royalties and compensation. Compensation structure and amounts will vary based on market potential and on whether your idea is patentable. Contacting the Product Development Specialist:If you have any questions or would like to learn more about Beekley and our product development process, please contact Maeghan Archambault at 1-800-233-5539 x462 or by e-mail at newproducts@beekley.com |