Get a lawyer, maybe a close family friend or someone you know from college, offer him a percentage of future income as a fee and have him formally file for a patent. He may want you to pay the filing fee, that is typically not overly expensive. This will give you patent protection PROVIDED your concept is not considered prior art.
Design the tool and file the prints under COPYRIGHT. This does not require a patent because prints are considered an art form, like a photograph or piece of art. It goes under the author's name for a period of his lifetime. You simply submit the works and pay the government processing fee.
Use those prints to make a prototype for testing. This will be the most expensive part. You may want to look around and get a machine shop, the smaller the better, to build some of the pieces BUT NOT THE ENTIRE ASSEMBLY. I like to farm the work across the machine shop community, that way the exact nature of details remains annonymous and virtually impossible to reverse engineer by those skilled in the art.
Now assemble and test the unit. Record your findings and keep files on all your transactions, particularly those dealings that cost you money. In a court of law, you paying the cost typically weighs in your favour since you assumed the burden, hence liability for prototype design.
Once you are completely satisfied, think there are no possible improvements nor additions to the tool, take the prototype and shop it around to major manufacturers who are in the business or similar market. Some inventors simply go to the corporate head quarters of a hardware store or commercial outlet and discuss cost-supply issues. I would recommend having a very experienced salesman do this, this is the only time sales people are of value to engineers.
My rule of thumb, what does your gut say? Feel good about making the next move? What can go wrong, worst case scenario. Remember, we are talking financial security and when it comes to money, EVERYONE is your friend. Be careful and be cautious.
And for heaven's sake, stay away from these inventor sites that offer services for your ideas. They are in business for themselves, not you!
Finally, your present place of employment. If you are an engineer, let it be known that your employer owns your ideas. This is falls under intellectual properties, which under several country jurisdictions, is your employer's property. The reason is that your employer PAYS YOU to maintain his technical welfare, you the engineer are the professional and accept a salary in exchange for work. Your work is to create, invent and keep the employer's welfare in mind.
So now you made a million bucks on your time and at home! Guess what? In Canada and particularly the United State of America, you will most definitely loose in court. And guess who is going to win? Yup, your present employer. Life sucks on the big one, but life is not about being fair. So if you see promise in your invention, quit your job the day before you make a million bucks, show about three (3) months of separation and then take your invention to market.
Hope this helps. I would be interested with any of the European colleages who may know patent laws under British Common Law or the Napoleanic Code. Same with you guys?
Kenneth J Hueston, PEng
Principal
Sturni-Hueston Engineering Inc
Edmonton, Alberta Canada