Another great talk from the king of licensing information. Stephen Key has spoken at our Inventors Forum club in Orange County , California a number of times. He is easily the best speaker we have had since we formed our group in 1996. We have had members who have paid many thousands of dollars for consulting fees, and this video alone is worth more than what they got for thousands of dollars. Buy his books and read them and get started now.
This was a great video. I knew some of those points that were put forth, but not all of them. And I'm positive that others may not be aware of them. Please keep posting those types of informative vlogs. In some aspects, I would even say that I liked this more than some of the interviews with the product creators that you conduct. The overall variety of this channel, however, is superb.
@@stephenkey3137 @Stephen Key Absolutely... FYI you have a small typo @10:58 when you list the points (point 3) on the left side of the screen that reads "comanies" instead of "companies" 😉
@@stephenkey3137 Seeing your product background is very inspirational for me. I just got a licensing deal and then relayed what you taught to to my cuz who is in the process of getting one as well. You help me move out of my parents house. I am enterally grateful that you do what you do in such a entertaining fashion. Before you I didn't even consider this possible. I truly wish you the best.
What if the entire invention/device is able to be understood simply by seeing it and or having its basic function explained...??? I am currently working on a device that is Very simple, I have had it prior art checked and the device is patentable. I am planning on pulling the trigger on the provisional pat within the next few weeks and will then be approaching companies. But the device is very simple & is perfectly understandable from a single image of the device and or a written description of the device function. So a sell sheet would be the entirety of the confidential information. How do I get them to sign an NDA before seeing/reading the device function...????
Thank you, Stephen. Great content as always. So just to be clear, I needn't insist on having an NDA in place in the very beginning (when a prospective licensee has inquired about the nature of my product)? Or prior to emailing them a Sell Sheet? But wait until discussions begin to go deeper (beyond the Sell Sheet) ?
You’re absolutely right. When there’s interest.When they want more confidential information. But please realize when you file a provisional patent application you’re in good shape. There are huge benefits of having people sign NDA‘s. If you have not publicly disclosed your invention you could have the possibility to file it again if there’s no public disclosure. Because sometimes you just run out of time. That’s why NDA‘s can be important.
That’s a great question. In my opinion if you’re not ready to manufacture there’s too much exposure. You can read all about everyone that has been copied.
Thanks for the info Stephen. Do I refrain from submitting my PPA to these potential licensees on their submission portals? I see a commonality with these companies when they're asking for IP information from the start along with a sellsheet ect.
Please read the submission portals carefully. In most situations they will not keep anything confidential. That’s why you need to file a provisional patent application. Also please note most ideas that are licensed do not go through submission portals.
Steven just finished both your books, is there a NDA with the 4 provisions you like included I can download ? Should NDA's not be mutual ? Should pictures or Sell Sheets be watermarked ? THANKS for the great books , there basically yellow highlighted. I hope to get though my first PPA using you books and this channel .
You can do it! And if you need help, consider our program created in conjunction with IPWatchdog.com founder Gene Quinn, it's called SmartIP: ip.inventright.com/smartip/
This topic covers keeping invention ideas confidential and getting a NDA from interested companies. But if one file for a provisional application then it's alright to expose it to the world for example in social media and trade shows, correct?
Andrew is going live today at 4pm Pacific to answer your inventing and licensing questions - that's a great time to get your question answered! Save the link to join the live: ruclips.net/video/-GuVJ5qTo5w/видео.html He goes live every Monday at 4pm Pacific.
Hi Stephen, I had the patent office publish my non-provisional patent application (NPA). Now my IP is technically in public domain. So I went ahead and shared confidential information with a bunch of industry people WITHOUT an NDA. Is this a problem? If so, how so as my NPA is already published?
hello, inventRight, I'm a new inventor what companies do you suggest I give my idea to for a licencing deal. and also can you suggest what type of company BTW its a toy.
Hi, Stephen! My concern is, How, us, new inventors can enter the business, worries free? Many of us have ideas that are very essential but can' t show it to the world...
@@inventRight There are many inventors that "don't care if it sells/not". They just want to make it for their own use. Steve Wozniak(Apple computer) wanted to build "his own" computer so he could use it. It was a hobby for him, and he was already working full time at HP. So, if you have an idea and care about it or actually need to make it to be used for something. Build it first. Make it work, and make it work better. If you are too worried about whether it sells or not, you'll never get it built and you'll never know if it's good or just garbage.
You can't build it? Yes, you can. You just don't know "how things are made". You've already made the first step. You're on youtube. Now just keep searching how stuff get's made. Plastic, wood, metal,...etc. It's not rocket science how things get made. There's do's and don'ts and specific tools. Standard mfg practice is a "small world". It's not complicated. You can figure it out. If you want to know how a cnc mill works, you don't need to know how to operate the machine. You just watch a cartoon of a part getting shaved by a big machine. Then you learn about material, work holding and cutting in xyz,...etc. If that bores you, then you are not passionate enough.
Are Patent firms and law firms not bound by some kind of Patents act or law or Code of Conduct? Singapore IP firms say NDA is not needed . I am really confused because USA promotes NDA but other country does not. Is a Confidentiality Clause equivalent to an NDA ?
Stephen I have an amazing idea that certain companies tried to take about 2 years but I had them sign something but they still called everyday. But I would love if you contacted me with your experience and I would cut you in
These free videos have been such a blessing to me. I'm so grateful. And you're so entertaining! Thank you, thank you.
Thank you for the kind words!
You are so welcome!
Very Good, TOP.
Thanks for sharing very important information!
Glad it was helpful!
Couldn’t have said it better. “Shut it and get to work” 👏👏👏
Another great talk from the king of licensing information. Stephen Key has spoken at our Inventors Forum club in Orange County , California a number of times. He is easily the best speaker we have had since we formed our group in 1996. We have had members who have paid many thousands of dollars for consulting fees, and this video alone is worth more than what they got for thousands of dollars. Buy his books and read them and get started now.
Thanks for the kind words about Stephen's advice Doug. -Andrew Krauss, inventRight Co-Founder
Thank you mr. Key for that great advice abouth confidential
Thank you for your help 🙏💚
Thank you for watching!
This was a great video. I knew some of those points that were put forth, but not all of them. And I'm positive that others may not be aware of them. Please keep posting those types of informative vlogs. In some aspects, I would even say that I liked this more than some of the interviews with the product creators that you conduct. The overall variety of this channel, however, is superb.
Thank you for the kind words!
@@stephenkey3137 @Stephen Key Absolutely... FYI you have a small typo @10:58 when you list the points (point 3) on the left side of the screen that reads "comanies" instead of "companies" 😉
Thank you for the encouragement! If you have an idea for a video or topic, please share, we'd love to hear about it.
@@inventRight Thank you very much, Stephen. I actually might in the near future
THIS!....WAS GREAT INFORMATION DARN IT!!! I LOVED IT ALL
Good video, like the sit down view better, thank you
Got it!
Thank you for the feedback!
@@stephenkey3137 Seeing your product background is very inspirational for me. I just got a licensing deal and then relayed what you taught to to my cuz who is in the process of getting one as well. You help me move out of my parents house. I am enterally grateful that you do what you do in such a entertaining fashion. Before you I didn't even consider this possible. I truly wish you the best.
I would love to hear more about your success.
Let’s talk when it’s convenient. And congratulations!
Hi thank you for a brilliant helpful video! Can I get a provisional patent application in uk? Thank you!
What if the entire invention/device is able to be understood simply by seeing it and or having its basic function explained...???
I am currently working on a device that is Very simple, I have had it prior art checked and the device is patentable. I am planning on pulling the trigger on the provisional pat within the next few weeks and will then be approaching companies. But the device is very simple & is perfectly understandable from a single image of the device and or a written description of the device function. So a sell sheet would be the entirety of the confidential information. How do I get them to sign an NDA before seeing/reading the device function...????
Thank you, Stephen. Great content as always. So just to be clear, I needn't insist on having an NDA in place in the very beginning (when a prospective licensee has inquired about the nature of my product)? Or prior to emailing them a Sell Sheet? But wait until discussions begin to go deeper (beyond the Sell Sheet) ?
You’re absolutely right. When there’s interest.When they want more confidential information.
But please realize when you file a provisional patent application you’re in good shape. There are huge benefits of having people sign NDA‘s. If you have not publicly disclosed your invention you could have the possibility to file it again if there’s no public disclosure. Because sometimes you just run out of time.
That’s why NDA‘s can be important.
What about starting a kickstarter for your idea?
That’s a great question. In my opinion if you’re not ready to manufacture there’s too much exposure. You can read all about everyone that has been copied.
Ty sir
Thanks for the info Stephen. Do I refrain from submitting my PPA to these potential licensees on their submission portals? I see a commonality with these companies when they're asking for IP information from the start along with a sellsheet ect.
Please read the submission portals carefully. In most situations they will not keep anything confidential. That’s why you need to file a provisional patent application.
Also please note most ideas that are licensed do not go through submission portals.
@@stephenkey3137 Wow very informative. Thanks again Stephen!
Steven just finished both your books, is there a NDA with the 4 provisions you like included I can download ? Should NDA's not be mutual ? Should pictures or Sell Sheets be watermarked ? THANKS for the great books , there basically yellow highlighted. I hope to get though my first PPA using you books and this channel .
You can do it! And if you need help, consider our program created in conjunction with IPWatchdog.com founder Gene Quinn, it's called SmartIP: ip.inventright.com/smartip/
This topic covers keeping invention ideas confidential and getting a NDA from interested companies. But if one file for a provisional application then it's alright to expose it to the world for example in social media and trade shows, correct?
Andrew is going live today at 4pm Pacific to answer your inventing and licensing questions - that's a great time to get your question answered! Save the link to join the live: ruclips.net/video/-GuVJ5qTo5w/видео.html
He goes live every Monday at 4pm Pacific.
How can we get into contact?
www.inventright.com/contact
Hi Stephen, I had the patent office publish my non-provisional patent application (NPA). Now my IP is technically in public domain. So I went ahead and shared confidential information with a bunch of industry people WITHOUT an NDA. Is this a problem? If so, how so as my NPA is already published?
If your confidential information is in the public domain you’re OK!
@@stephenkey3137 Thank you. Your book changed my life Stephen. One day we will meet hopefully.
hello, inventRight,
I'm a new inventor what companies do you suggest I give my idea to for a licencing deal.
and also can you suggest what type of company
BTW its a toy.
Companies that are in the retailers where you want your product to end up. -Andrew Krauss, inventRight Co-Founder
Hi, Stephen! My concern is, How, us, new inventors can enter the business, worries free? Many of us have ideas that are very essential but can' t show it to the world...
I completely understand. keep watching the videos!
Keep educating yourself.
@@stephenkey3137 i did, thank you
I have a utility patent on a garment.
What if you have an idea but not able to actually make it??? I dont have $ to make it properly???Especially the way I see it.
Make a sell sheet using a 3D rendering to test it out - is anyone interested? If so, it would make sense to invest more of your resources.
@@inventRight There are many inventors that "don't care if it sells/not". They just want to make it for their own use. Steve Wozniak(Apple computer) wanted to build "his own" computer so he could use it. It was a hobby for him, and he was already working full time at HP. So, if you have an idea and care about it or actually need to make it to be used for something. Build it first. Make it work, and make it work better. If you are too worried about whether it sells or not, you'll never get it built and you'll never know if it's good or just garbage.
You can't build it? Yes, you can. You just don't know "how things are made". You've already made the first step. You're on youtube. Now just keep searching how stuff get's made. Plastic, wood, metal,...etc. It's not rocket science how things get made. There's do's and don'ts and specific tools. Standard mfg practice is a "small world". It's not complicated. You can figure it out. If you want to know how a cnc mill works, you don't need to know how to operate the machine. You just watch a cartoon of a part getting shaved by a big machine. Then you learn about material, work holding and cutting in xyz,...etc. If that bores you, then you are not passionate enough.
Are Patent firms and law firms not bound by some kind of Patents act or law or Code of Conduct? Singapore IP firms say NDA is not needed . I am really confused because USA promotes NDA but other country does not. Is a Confidentiality Clause equivalent to an NDA ?
When it comes to intellectual property, it's helpful to think of things more in terms of strategy than right or wrong.
Stephen I have an amazing idea that certain companies tried to take about 2 years but I had them sign something but they still called everyday.
But I would love if you contacted me with your experience and I would cut you in
You can learn how to do this yourself. Let us show you how: www.inventright.com/coachingmenu/bootcamp-coaching