There are a couple things you must consider first off ..Is if i produce it can i get enough of it on the market?
2nd A patent is at least a minium of close to 6 to 10 grand and can take up to 6 months or longer and you will still get knockoff's but your att.can send letters of cease and distist.
Then you will also have to figure just how much money your going to tie up getting enough baits out in the market and in inventory. Best advice i can give you is put a couple of the baits in a couple boxs and mail it to yourself and do Not open it. This will give you some rights to when you first produced the bait so if you show it to a large company they cannot steal your idea...
Hope this helps
Mo