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Promoting Innovation and Invention in the Home Building Industry

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1 March 2010    
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Promoting Innovation and Invention in the Home Building Industry
Covershot of Introducing Innovation into the Home Building Industry: Advice for Innovators and Inventors New products and ideas in the housing industry often increase energy efficiency, affordability, and durability, while redefining consumer expectations regarding their home's comfort and performance. A new PD&R-sponsored report promotes innovation with research-based guidance on how to assess and identify residential market opportunities, avoid common pitfalls, and decide on the appropriate commercialization strategy for a given product.
The information presented in Introducing Innovation into the Home Building Industry: Advice for Innovators and Inventors explores what innovators need to consider when introducing a new product to the housing industry. A companion report, New Product Adoption in Housing: Guide for Manufacturers, covers parallel ground for manufacturers.
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Erratum: The last sentence of the HUD USER News eList of February 24, 2010 is corrected to read: "For 2010, HUD also published Renewal Funding AAFs, but these are not applied to contract rents, they are applied to Public Housing Agency (PHA) leasing and cost data and to determine PHA renewal funding."

 

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Key Findings

  • Identify the product's market fit;


  • Determine how building code compliance, price, and the availability of similar products may affect demand;


  • Use the patent system (procedures established by the U.S. Patent and Trademark Office, available online at http://www.uspto.gov/) to protect intellectual property;


  • Recognize and address any regulatory implications that may affect product development, manufacturing, distribution, and deployment;


  • Understand the risks and demands of either working alone or with an established business partner; and


  • Recognize the need for outside guidance and know the resources available.



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