Coco Crisp? Gameboy? What do these names in common? They are all fun and easy to remember. While these names are prevalent in the sports and corporate world, the same principles behind these names can be used everywhere. It is especially true if you are the one that has to come up with a catchy name for your invention.

As any inventor or entrepreneur can attest, a name for a product is quite essential in getting it sold. Your product name is often the first ambassador to any potential consumers. After all, why would anyone want to buy a new product that is just like everything else.

So, the question goes, how would you come up with a proper name for your new invention? We suggest starting along the lines of (1) the invention's use, preferably something unique; (2) the invention's overall appearance, preferably some unique attributes; (3) or just something plain cool or catchy, like google or nike; 4) or finally a combination thereof.

Now these are simply brainstorming tools to come up with ideas. The process to "weed-out" those ideas are equally important. First, think about your invention's and company's brand. What is it's intended purpose? Does the name you chose fit with the brand you have created? If you have a built a brand around quality, be sure that your product name does not conflict with that image. Second, think about your target market. Will the product name relate to your target audience? You wouldn't necessarily want a "gen X" name if your target market is primarily baby-boomers. Finally, make sure you test your product name out before releasing it to the public. Large firms will use focus groups.But, you can do this easily yourself. Just present the idea to your family and friends (ones that fit your target market) and see what they think. Often family and friends will be more honest then paid focus groups.

While it is no guarantee that the name you come up with is the best for your invention, cut your self some slack, and move onto the next phase. Remember, no name is perfect. Even if you hired a marketing expert, they can not guarantee that the name you end up with will be the best. So, at the end of the day, realizing that you have the most suitable name for your invention, move on. A name sometimes is just a name. While it is very important, it is not everything. It is just the beginning of a successful venture.

The nerd's ultimate dream is probably to combine a fascination with Star Wars with computer design. Today this has become a reality. A company called NeuroSky has developed a sensor that can read brain waves. Their patented technology has allowed software developers to create programs that utilizes a user's thoughts to provide inputs to multiple applications. For example, game users can move or lift objects while others can remotely control robots by simply focusing their thoughts.

So far, this technology is limited by the amount of brain waves that the device can read (such as Attention-Focus & Meditation-Relaxation), but many other brain wave readings are on the horizon. However, even cooler than the technology itself, is the way that this technology is being marketed.

The creators of this technology realized early on that the application could be limitless, and that the hardest hurdle to overcome would be early adoption. So, NeuroSky supports developers, academic institutions and anyone who has a passion for unlocking the true potential of the brain. They license the technology to developers, researchers and manufacturing OEM’s who integrate our technology into their own solutions. As long as they hold the patent to the Brain-Computer Interface (BCI) technology, Neurosky could allow everyone and anyone to use it and still make a profit. It may take a few years to pay off, but we can see this become the next big thing.

It seems like every day we hear that yet another newspaper has failed. And it is no wonder, especially with internet news being so prevalent. That's why it is no surprise to us that the associated press has entered into a licensing deal with NFL (See the detailed article here).

We at BeHeron have previously stressed the importance of licensing (see here), especially for new product line that is not distinguishably different from something else in the market. We even compiled a list of questions one must think through before brokered into a license deal (see here). In fact, we are so impressed by the potential of licensing, we even introduced two of the companies that specializes in licensing (see here and here).

Unfortunately, like most of the others, we too were limited. We traditionally thought of only using licensing deals to help us in create a brand name for a non-distinguishable product. What we failed to realize is licensing deals can mean lots of different things for different people. Most importantly, it often means big bucks. It can be the cross road between surviving during an economic downturn or not. In fact, most large companies, for example HP and IBM, leverage their intellectual property portfolio by licensing out their brand, patents, etc. At the same time, they are always interested in licensing technologies from a much smaller start-up.

So, the next time you have a cash flow problem, in addition to the traditional route of financing, also think of licensing as an alternative. It might just prove to be fruitful. Just remember, think about what you want and what you can give, and go from there. If you need expert advice, consult your local attorney or leave us a note.

What type of friends do the great writers at BeHeron hang with? If you guessed that they are a bit on the nerdy side, you would be right. But the great thing about our friends is that they will help us out when we have writers block. Today, a friend was discussing with us the benefits of the iTouch, one being that it is a great way to view BeHeron.com, and that led us to find this timely article that you may find interesting.

It appears that American soldiers deployed in Iraq are no longer using the iTouch for just "fun" applications. In fact, they are using the iTouch to translate, share data, and to display maps. They have found that the iTouch is durable enough for the battle field, is more capable then similar military equipment, and is much cheaper. The military police have even started to use the iTouch to quickly photograph and send information on to their commanders.

So what does this teach us? First, it teaches us that the military will use anything to find an advantage. Second and more importantly, it teaches us that customers will find uses for our products that we could never think of ourselves. Good companies will take notice quickly and jump to take advantage of the unforeseen market. Many times, these "lucky hits" will make or break your product line. Take these opportunities seriously. We will be watching Apple to see if they do the same!

As technology advances, new products tend to rely more and more on simple solutions. One application that is becoming more and more clear is with micro-electro-mechanical systems (MEMS). These micro-sized machines, used in everything from cell phones to medical devices, demand simplistic designs to support cost effective manufacturing. One MEMS product that shows great promise is micro-motors. These could be used as pumps for miniature fuel-cells or turbines for power generation or propulsion. In fact, these micro-motors have been shown to be efficient enough to have a thrust-to-weight ratio of 100 to 1. Simply stated, if you took 1,400 millimeter sized turbines, you could levitate a skateboard like the ones shown in the movie "Back To The Future". Unfortunately, the friction that is caused by 10,000-200,000 rpm causes these devices to break down quickly. So the only solution has been to make the roting surfaces "friction free" by floating on a cushion of air, but this adds complexity to the manufacturing process and increases the size of the device.

Fortunately, scientists at MIT have been able to go back to bearings to simplify the design (see article from Mechanical Engineering Magazine). Earlier designs couldn't use bearings because they were too large, not symmetrical , and not smooth enough to reduce friction. Today, new advances in manufacturing are producing bearings as small as 150 micrometers enabling scientists to take a second look. So, as we said before, any time you can find a simple solution to a complex problem, go for it. It will definitely be a worthwhile venture.

We at BeHeron are usually a glass half full bunch. We like to show our fellow inventors the best and brightest ideas. However, from time to time, we need to sink back to reality and show some ideas that will most likely flop so that we can learn. Today's example comes from Segway and GM. No, we are not going to pick apart the expensive yet fun Segway or pick on GM's lack of finances. Rather, we are going to critique the joint venture between Segway and GM to create the Segway Puma.

As reported by Design News, General Motors and Segway have teamed up to develop a two-wheeled, electrically powered, two-seat prototype vehicle that will include a lithium-ion battery and dual electric wheel motors.

The Project P.U.M.A. (Personal Urban Mobility and Accessibility) prototype can travel up to 35 mph (56 kph) and has a range of up to 35 miles (56 km) between recharges and emits zero emissions. According to GM, it is aimed at reducing traffic congestion and providing a means of cleaner, more affordable transportation in major cities.

Don't get us wrong, the Puma is cool. But will it be a GM cash cow? We think not. Why? Simply, the original Segway has a problem with cost and this new model will have the same issue, even when compared to something like the Smart Car. Also, unlike the Smart Car and other "urban" vehicles, it won't be able to travel on the freeway and will scare every user to death when followed by an SUV on the roads. For these reasons, we do not believe that the Puma will work in the U.S. It might work in Asian countries where city travel speeds are slower and where bikes on the road are commonplace. But again, will Asian based buyers care to spend thousands of dollars when motorized bicycles are much cheaper and much better accepted? We think not. So what does this teach us? Inventors can't simply invent something cool. One needs to take a hard look at the market potential. Frankly, GM should know better by now!

We at BeHeron admire inventors for their ingenuity, but we also admire entrepreneurs for their vision. However, our favorites are good inventors who also happen to be great entrepreneurs. What do we mean? Well, a good invention on its own won't make you money, and a great company won't mean a thing if you don't have well designed products that are targeted to a specific market.

A great example of this is an invention created by Charles De Vilmorin and Herve Roussel. They have taken an existing product that you might have heard of called an iPod, and made it more user friendly for a large market segment that often gets ignored, the elderly. They have created a digital kiosk that serves as a sort of information download station for seniors.

As reported by www.nashuatelegraph.com, De Vilmorin, who came to the United States from France as part of a study program, said the kiosk they designed allows people to download music, news or audio entertainment from a menu tailored to their interests. The system, produced by their start-up company, Linked Senior, has been in use for about 1-1/2 years by residents at Vinson Hall Retirement Community in suburban McLean, Va.

Users don't have to log in, remember passwords or even strain to read and type on a tiny screen. Instead, their targeted client, the seniors, will receive a small MP3 player that can be plugged into the kiosk, allowing them to choose material from a menu on a large touch-screen.

So you see, an invention by itself isn't much but if you combine it with a great target market and a plan, you can make a great little business for yourself!

We often enjoy talking about high tech problems and high tech solutions. But, sometimes a money making idea is simply something simple, that solves a simple problem. There are many multi billion dollar industries that are centered around low tech devices and services. Take the RV business. Sure there are now LCD TVs and holographic fireplaces, but in the end they are still just a bedroom and bath on wheels. More importantly, many of the problem that RV owners have are centered around simple utilities such as water, power, and waste. One problem that many RV owners have faced is knowing when to dump the waste water holding tank. Today, many owners have found water level sensors to be unreliable at best. However, Horst Dynamics Inc. have developed the apply named Horst Miracle Probe. Their PR release provides the best description.

"Normally, electrical communication between positive and negative connected probes occurs through the water/sludge when they are submerged. This turns on the LEDs to inform the RVer how high the level is in the black and gray tank and when it is time to dump. However, in WASTE water holding tanks the probes as well as the walls inside the tank get coated with sludge. This sludge becomes the new electrical conducting path when the tanks are empty. This turns the LEDs on indicating the tank is full, even when the tank is empty. Horst Miracle Probes prevent this false information from happening by interrupting the electrical path between the metal probe point and the tank wall. The long stem part of the probe is covered with Teflon tubing which prevents the build up of sludge. Teflon is a very slippery material, nothing will adhere to it. Consequently, it self cleans, so the solution is a permanent one."

So, there you have it, while new tech can be glamorous, sometimes low tech can be the fastest way to profits.

When looking for market opportunities, one should look at industries that are in change. Industries usually go through several predictable phases from birth to death, and in between each phase there is significant opportunity to profit. The solar industry is going through one such change.

When an industry starts out, money flows, companies sprout up, and prices are high. But then as the industry matures, prices start to fall, the better technologies win the limited customers, and the industry begins to consolidate. This is what is happening with the solar industry now.

In a story by the WSJ, we find that BP Solar, a subsidiary of oil giant BP, is going to purchase their solar panels from outside vendors. The reason for this is simple. Other companies can produce the products for cheaper and BP would rather use their engineering resources on building large scale solar power plants rather than the solar panels.

Now this is not bad news for the solar industry. The article states that, due to technology improvements and consolidation, in 2015 solar power will not require government support to compete with the power grid. It simply means that solar is moving towards being a commodity. This will mean that solar will be cheaper and our world will have a new way to power new products and inventions. Because solar is maturing, cheap clean power will be here to push forward the next big thing!

Inventors are special, not only because of their amazing imagination, but also because of their amazing fascination with all things technical. Some of the most "unique" inventors can be found in the space industry, NASA in particular. Why? Well, because they are completely passionate regarding their work. Whether it is economical or not, they will keep trying until they succeed. Their inventions have also inspired those outside the industry to aim high. So what better way to celebrate all of those inventions than have a "march madness" style competition? NASA Mission Madness was a competition between 64 past, present, and future NASA Missions to see which one was the favorite among voters. Missions ranged from the Apollo mission to the moon to the X-29. The most amazing thing was the eventual winner. It was the Super-Pressure Balloon. We would guess that most of you have never heard of this project, so we will give the short version.

It is a balloon that orbits the earth at greater than 100K feet, while carrying a 1 ton analytical science package for over 100 days. Simply stated, it is a very cheap but effective satellite.

So other than being really nerdy cool, what does this teach us? First, it teaches us that the voters were definitely nerds themselves. More importantly, it teaches us that inventions that change the world can be as simple as a balloon! Simpler ideas are often the most economical and the most ingenious. And it was cool that NASA fans recognized the importance of simple but elegant designs!

We often get asked "how do you come up with all of your blog topics"? Well, it's not that the money inspires us to greatness. More often, we simply focus on the problems the world faces and the unique solutions that inventors bring to the table. But what about those days in which the news is simply, blah? Well, just as inventors look to common sources of ideas, so do we. One of those sources is novelty items. Take wine for example. It is an product that has hundreds of customers that not only enjoy the product but also like finding ways to make th product better. One such novelty item that has become popular in the wine industry is aerators. You might think that a funnel with holes couldn't bring much money, but you would be wrong. Just google wine aerator and you will see hundreds, if not thousands, ads and numerous designs. So the next time you can't think of an idea, don't forget about simple trinkets for products that have avid followers like wine. These can be quite profitable even if there are already several competing products out there!

Have you seen those TV ads lately on lawsuits for mesothelioma victims? We sure have. Now our first thought was, "Lawyers seem to be making a lot of money off of a bad thing." But evidently they are not the only people. Others have seen the opportunity for themselves as well!

One of this nicest things about being an inventor is that you too can change the world. And ARI Technologies, Inc. has found that combating asbestos can be profitable. As reported by Mesothelioma.com, the ARI process involves using heat and chemicals on a rotary hearth to convert asbestos into volcanic minerals. The resulting material could then be used as a construction aggregate. Mr. Timmons, president of ARI, has said the construction aggregate "would have value", although it is unlikely that the value will exceed the cost of the procedure. The aggregate will need to adhere to strict regulations, and cannot have even a single asbestos fiber present. The process would take place in a special air-tight structure.

So the next time you see a problem the size of asbestos, don't just think about money making lawyers. Opportunity could be talking to you as well! After all you could land a project such as ARI did. 3 million tons of asbestos at $135 per ton. That adds up to a huge profit and certainly job security!

We at BeHeron have been a big proponent of a trend called microlending since our inception earlier last year. In fact, we are so in favor that we even listed a few of reputable microlending institutions under our site sidebar category we call "Entrepreneurial Tools".

We like microlending because not only does it help the entrepreneurs & inventors by lending them the necessary funds to start their venture and create their invention; but it also helps the microlenders make a profit off their small funds. There is no limit as how much you can get from these microlenders, and there certainly isn't a limit of how much you can give to perspective entrepreneurs & inventors. As long as someone deem someone else' product or idea profitable, both individuals can derive profit from that product or idea. Talk about ingenious.

In fact, we predict microlending will be the new wave of financing in the future. It is certainly true in our current economy, when banks are reluctant to lend. If you don't believe us, simply look at the recent articles published by some of our favorite news agencies, such as Wall Street Journal and New York Times.

The question is, are you a believer?

If you remember, back in July 2008, we reported that Google was in the initial stages of setting up a venture capital arm. Today we have confirmation and some much needed details. It appears that the venture fund will be run by Rich Miner and Bill Maris. Miner has been a Google executive for about a year while Maris joined when his company, Android, was purchased by Google.

The good news is that Google Ventures will start out by investing $100 million in small early-stage startups. The best news is that Google will cast a wide net that targets not only software companies but also other industries ranging from health care to clean tech. This means that the money will be available to many worthwhile companies. Google, of course, is looking to make money, and will no doubt find many bargain basement opportunities. Also, it will be interesting to see whether they will have the expertise necessary to wisely invest in such a wide range of investment choices. But we are not telling you to invest in Google. We are simply reminding you that when you seek some cash for your idea, Google may be a good place to start!