I don't much about this but:
I used to work in marketing and advertising, so we would get a new product to try and market and sell, (it may be still in the design stage or under manufacture) and we would have to sign a 'confidentiality agreement', quite simply we couldn't divulge any information about it.
So the first thing I would say is: anyone working on this project (and I mean anyone) should sign a confidentiality agreement. I've always been happy to sign one and (money is money).
If you are going to patent the product then something needs to be unique about it and i'm guessing it's expensive and time consuming to do. Personally if I spent the time patenting the product, then why bother having the hassle and expense of manufacturing it. I would sell the patent under licence, let everyone else have the hassle of producing it and cream a percentage off the top.
If you don't want to patent it, then another company will simply purchase one (change it a bit) which means 'paint it orange' offer the full backup and service of a quality company and sell it 'as their own'.
Also I am guessing that it will need to be CE approved. Good luck with that one!
But the most important question is: do you do next day delivery?
I quite fancy one.