Existing Patents
Patent 1
Patent 2
Patent 3
Existing Product
Product 1
Product 2
Product 3
Potential Market
According to appleinsider.com 17.4 million Iphone 7's were sold globally in the first quarter of 2017. In our survey 33.7 percent of the 250 responses said that they would like to see the problem of keeping valuables in your phone safe. We then multiplied 33.7% X 17.4 million to get 5,863,800 as our potential market share.
Summary
In Part B of our Capstone Project, we had to search for existing patents to solutions to our problem because if there was already a patented solution, we had to come up with another solution. Luckily for us, there were no patents for our idea however we did include some patents that included similar ideas that we had.