Difficult Industries 1. 2:53 Food Products and Recipes 2. 5:15 Apparel 3. 6:20 Packaging 4. 10:07 Softwares 5. 11:25 Toys 6. 13:15 Automotives Great tips, because all those industries listed were things that I have considered. Good to know the difficulties in them
This is my second video to watch of you guys...I'm inspired. You're sharing resourceful and useful information just as I would to my voice and piano students about getting their music out there. It's about the DREAM, not the FAME. Fame takes you away from your dream path...Dream leads you on your path. Getting the license is like the dream. Getting the Patent is like the fame. Love it! Thanks!
I read another book that recommends not giving your PPA to a potential licensee after an NDA is signed. They say the licensee can see what you put in your PPA and work around it if your PPA isn’t that great. He says it’s a business bluff and forces them to think your PPA is really well written and they can go forward with making a solid patent. He recommends saying you are making adjustments to current PPA so don’t want to show the original one or any of them.
I just got a patent for some tools to do electrical work. My patent application consist of several types of tools that do the same thing.I also have several prototypes that are made in plastic. My patent attorney couldn't believe how quick the patent office decided to grant me a patent. It took about 6 months from the time he submitted everything, including the non provisional. I'm looking for some advice, so I thought I'd check your channel.
I have a 20 year utility patent pending and I have been trying to get my products manufactured but I'm not sure where to look and my product is a padacrib
Awesome! If you're new to licensing, you'll want to check out Stephen's award winning book on the topic One Simple Idea: www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676. We also offer a lot more resources online, including columns at Inc. and Entrepreneur. Thanks for watching.
I actually did a Utility PPA on a tennis skirt with a pocket that was designed to hold a tennis ball in such a way as to not be in the way of the swing and it would stay in place without bouncing out. This was in 1999 back in the day before stretch fabrics were used in tennis wear for skirts. I had to do this because I was selling on the web and wanted to protect it from being copied. I didn't have to go forward with a patent in those days since it was established that I had the idea first. The patent laws have been changed so that it is first to file not first to invent. So if I wanted to redo this scenario today, I would have to go ahead with a patent or license it to a tennis wear company and have them go ahead with a patent. Love your videos and I am learning so much for my next ideas. I do have a patent almost granted on a new invention. It took almost 4 years and was so very expensive. I am sorry that I went against my gut and listened to people to go with a patent attorney instead of filing myself. But it seems like it is going to go through after so much time and money. Keep the videos going, I am a fan for life listening to your great advice for all my ideas that I want to produce. I loved the show Quirky and submitted about a dozen ideas that were since then marketed by others in some shape or form. But I kept the good ones under lock and key. My highest score was over 200 votes for my life size Lego furniture which has now been copied or someone had the same idea. That doesn't bother me much, but gives me more incentive to create more ideas. Thanks for your wonderful advice and know how.
Thank you for sharing your story and the kind words. If you haven't read Stephen's book "One Simple Idea," we strongly recommend it! It goes over each of the 10 steps you need to license an idea in great detail: www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676
Thank you for your reply. I am excited to bring my ideas to the medical field! I just joined the inventright program last night. I'm Eager to learn from you and your team!
Thank you Stephen and Andrew at InventRight, for sharing great insights of why those industries are tough to license to. You two have a wealth of knowledge; thanks again for sharing
Hello Mr. Key...if a company files a patent for you will they put it in their name only and leave you out or do you own part of the patent? Im worried I have 4 toy invention. Do you know or can list a toy company i can contact which deals with RC helicopter or Rc Boats?
The inventor not paying for the patent is not unusual. There is a statistic, I ran across during my process, that 75% of the money inventors make, they make without paying for a patent. The manufacturer pays for the patent to protect its investment. They have detailed specs that go into the patent and they know the process. The inventor's idea is normally broad or versatile and scalable. Some aspects of my idea are specific but still scalable. An example is a ratio. Yes, I'm in the automotive arena. My pitch is that my idea is worth so much money. Also, so many people have attempted to make this product but they all failed. I did not fail.
I actually have a patent in the food space and am working on a new type of product for clothing. The thing is with food or clothing, it needs to actually be something new. My product in food is in gum and it's just totally different from anything around in the molding, form and utility. It's not a recipe, but just something radical. Same for what I'm doing in clothing. Yet for bad industries... I'd just add telecoms. Highly technical for engineers and it'll be obsolete by the time it's granted.
+inventRightTV Btw, email me at charlesaperalo@gmail.com or whatever. Your videos are really cool and I'm wondering if there's anyway that I can help you guys out in what you're doing. While not business related, I actually have a facebook page and site in politics with almost 70,000 followers and a reach dailg of 10,000 people on our site. If you guys would ever want any help from another inventor in building your brand, I here to help! Also, I like your videos so much I'd help for free!
+inventRightTV Well, I think I can help you out in several ways over just doing a basic shoutout. Really, I see someways to improve your youtube presence with format changes to your show in order to easily bag 20,000 views an episode.
Need a little inspiration to keep working on your ideas? Read about Erin Borges, creator of the patented award-winning GoGo Gift Bag. In less than 2 years, she got her reinvention into Target, Bed Bath & Beyond and Cost Plus stores nationwide. How she'd do it? By licensing to a market leader! www.entrepreneur.com/article/307875
great advice! I am wondering, what if i had a medical formula or recipe and a way to prepare it, what should in do now, can i have provisional or a copyright, thats juct let me directly to the companies.
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 would you characterize the relative difficulty in licensing a novel product to the woodworking or power tool industries in comparison to the high degree of difficulty you noted for the OEM automobile industry? I am hoping that my entre will be made somewhat easier by well placed contacts I have established in licensing my several previous woodworking products to small companies, but I think my current IP has a chance of appealing to a major manufacturer, so I will not have the same personal relationships to rely upon in reaching a real decision-maker. In this situation, should I reference my previous minor successes and relationship with these contacts who would vouch for me in initial communications with these bigger companies, or should I rely strictly on brevity and count on my sell sheet and video to sell the product for me?
@inventRightTV Thanks, Andrew. To follow up, do you have any idea of typical range of royalty rates individual product developers are able to negotiate with very large tool corporations, such as those whose products are sold at big box stores? I am guessing that the massive anticipated volumes necessary for them to enter a license agreement would naturally (and reasonably) liwer the rate substantially below 5%. Does that sound right?
I found the FTC webpage helpful. You're telling me it's going to be hard, everything is hard though. At this point, I'll go with the first five or ten industrial inventions I came up with, and allow them to do what they want, according to what they think is necessary. Later down the line, build a lab & library to work independently from. I'll keep watching your videos. maybe I'll see something about scam companies that make you pay fees.
Its a blessing to find you guys on this internet ful of junk content. Hopefully I will be joining your program soon after finishing the books of Mr. Stephen Stay blessed
I love this channel and its really woken my spirit of creativity back . Do u have a class for people who want to get into this industry? Thanks and waiting on ur response .
Yes! We have a program that teaches live classes twice a week. Check it out: www.inventright.com/what-we-offer/ir-academy You can email us at andrew@inventright.com, call us at 1-800-701-7993, or set up an appointment at your convenience using this link if you'd like to learn more about our Academy program: www.inventright.com/contact
So.. this is exactly the video I was looking for so I appreciate you guys doing this first of all.. So I have a question in regards to ingredients for recipes or food items and the food industry in general as far as patents go or licensing: So, there was a European product called Diamondbrite, it was a spray that you put on your car, make your car really shine--but they didn't say what was in it, apparently, because they didn't want anyone to steal their "secret sauce," I guess, and make a new diamondbrite ( that's what 've heard from an American reseller, anyway.. and this was back in the 70s, I think times maybe were just different too?) I have some ideas for recipes or "anxiolitic/calming" supplements and I'm wondering if I have to list all the ingredients, if I don't want to get a patent..I still want to sell on a site like Etsy or eBay or whatever? Or do I just need to list allergies or allergens? I see products coming from eBay or Etsy especially that definitely don't list all ingredients, but they seem more mom n pop type, or Chinese sweat shoppish.. one of the two.. ) If you can point me in the right direction I would be super super grateful!
Hi I'm a new inverter and I have a great idea for a one of a kind tabaco/marijuana pipe/bowl and with the rise of the cannabis industry and with more and more states legalizing it I thought it would be a great time to get in on the action. Being a medical cannabis user myself and with my many other skills I have made a working prototype of the product and I was wondering how I would go about making a "Previsual patent" and what kind of company's should I reach out too to license my product too? However I don't have a lot of money, and certainly not enough to hire a attorney to do it for me so I was just wondering what my options are and what advice you could give me if possible?
We have a PPA for the function of our shirt. Sweat-Proof Patch for shirts. Trying to license it to a uniform supplier. Launched on Kickstarter last year, have an established business. You guys think we have a good chance in landing a licensing agreement?
Hi Stephen and Andrew! Thank you for such helpful info on all your videos! I would like to license food and beverage products can I join your coaching program even if it’s hard to license them? I can’t afford patents. Thank you
This topic is about me and my food business. I have filed a provisonal patent for manufacturing method using right invent. Struggling to start a food business in brexit UK is a nightmare. I'm exhausted!! I do need help!!
I have been binge watching your videos for patent and licensing. In this video you speak of software and how difficult it is. If I had an idea for an app to be put on your phone, would that be considered software? How difficult is it to patent a app for you phone? TIA for any advice.
hello, I'm brendan. great videos, I'm just starting out. I'm negotiating with a major american company about a licensing deal, it's great. I have learned a lot from your videos, thank you. I have another idea for the automotive paint industry, could you give me any advice about which companies to approach? how to approach them ? are they an easy industry to invent for? Thank you in advance. regards Brendan
@@inventRight I have a question regarding a utility patent. I have a utility patent that I would like to do. I have the design, and know how it will work, I just don't know every minute detail to the inner workings, technology wise. Do I need to detail my invention down to every small inward part?
Thank you, guys! I just finished One Simple Idea: Turn your Dreams into a Licensing Goldmine While Letting Others Do the Work. Truly fantastic. I have a great idea for the name of a beer that I am led to believe will sell, as well as a marketing campaign that can back it up. I don't want to start my own brewery so I was wondering, is it possible to license the name to a manufacturer or does this fall under another category completely? Am I technically licensing the trademark? Is it possible for me to file a PPA for something like this?
+Mike Swiatek Thank you for your kind words! No, that would not be able to be patented (so no PPA). What you're talking about is more of a brand, and brands are certainly licensed, but usually because they've been stablished and have name-recognition already.
i was wondering if someone have already submitted an idea to a company, but you haven't signed an agreement with them, can they use your idea behind your back,. Now mind you this is a well known company, found out they've been sued in the past, so you change your mind about using them for the idea
@11:40 you say that the Michael Jordan wall ball was not protected whatsoever. Well then how did you license that idea? What stopped the manufacturer from hearing out your idea and subsequently retaining all earnings for themselves with no royalty to you? A bit confused.
Hi John! Thank you for watching. Sometimes, being professional, prudent, and reasonable goes a long way in protecting your ideas. Licensees are happy to maintain good relations with outside innovators who are helpful and who provide value to them. For more detail on this, you can read this Inc. article: www.inc.com/stephen-key/5-ways-to-motivate-people-to-work-for-and-not-around-you.html
We do. Although as far as licensing is concerned, you don't necessarily need to start a business until you're ready to sign a contract (which you do not want to do in your own name.)
First, another awesome video!! Secondly, I am unable to find the video where you discuss the easy industries in which to license a product. I searched RUclips, but can't seem to find it. Please advise.
Great videos! I got a product invention that I want license itll probably be a QVC killer i have no patents and have cell sheet with digital CAD models and a short 3d video presentation Im an inventor but new to patents... Does PPA cover CANADA or is it the same process? sorry im a newbie id rather just pay someone to launch this and sit back and collect royalties since market research looks very promising and manufacturing costs appear to be low with high margins.
Provisional patent applications are part of the United States patent system. If you filed a PPA in the U.S., that would not cover Canada. You can do this! Read Stephen's book "One Simple Idea" for the 10-step process you need: www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676 No one will work as hard as you will.
All utility and plant patents filed after June 8, 1995, have a term of 20 years. Though, to be clear, a patent does not prevent others from making your invention. It just means you can attempt to stop them through legal channels. Thank you for watching!
Iv seen your videos and wanted to join your group but you ask a lot of money $4000.00 dollars is a lot of money to some people that are hard workers that can’t afford what you asking and what do we get in return.. for our investment ?
Hello Danny. None of our services cost $4,000. To find out if one of our programs is a good fit for you, contact our office: www.inventright.com/contact
So here is a question for you... I have an idea with prototypes and CAD modeling, a business plan (more like a plan with market research and financials of the product) and the manufacturing forecasted costs. I do not have a patent and am looking for investors to help hire a patent lawyer to file the patent. How would I pitch to investors without them turning around and stealing my idea? How protected can I be without a patent? I know when it comes down to it, investors are only interested on how they will make a return on their investment. Thanks-M
The intellectual property you file should be a key component of your business strategy. Have you read Stephen's book "Sell Your Ideas With or Without a Patent?" In it, he describes the benefits of filing provisional patent applications: www.amazon.com/Sell-Your-Ideas-Without-Patent/dp/1507885733/. He's also covering intellectual property strategy from a business perspective for Forbes.com: www.forbes.com/sites/stephenkey/#7dbf44b53dfd. Thank you for watching.
Hi. Im wondering if i want to remake something that's already been done but i want to remake it differently and better would i be able to license that as my idea?? Also i already accepted the fact that the product that i want to remake is something that'll be hard to protect and only remade again so should i even bother licensing?? Or what can i do because I really love the idea.
Hi, Great Video. All of your video are very helpful. I want to submit my idea to a well known company however, the process is online and I can't send my NDA to them. I am only allow to agree to their terms without the submission of my NDA. Should I go ahead and pursue this company even though my NDA isn't signed?
+JN Azoulay Thanks for watching! Read their terms closely and make sure you understand what you are agreeing to. Most companies will not sign an inventors' NDA (especially before they've seen anything). More on that here: www.inc.com/stephen-key/how-to-get-the-most-out-of-submitting-a-product-idea-online.html.
Hello! I was doing a Google search on how to get started with selling an idea and came across your videos. I've never done this before and have found them very helpful. I am a stay at home mom and have no clue where to start! I got the idea when I was taking my son to the YMCA for swim lessons. All that work getting packed up, load and unload a kid, get into swim clothes and try to arrive on time just to find the pool closed because someone put their kid in the pool without a diaper because they forgot one. I have ran my idea by other moms and they love it. It could go in places like gyms, Airports, zoozs, ext. But who do I talk to about getting it started? Is it worth the effort and cost?
+Andrea Herstad Hi Andrea! I'm glad you found us. First, breathe :) It's exciting and wonderful to have an idea you might want to try to bring to market. There are different ways of bringing a product to market. One is to start a business on your own; another is to license your idea to a company. Licensing can be thought of as 'renting' - in exchange for the right to manufacture, distribute, market, and sell your idea, you receive a percentage, or royalty, of each unit sold. It's much, much less risky (aka capital intensive) than starting a business. inventRight's focus is on licensing; we believe it's a better option for most inventor entrepreneurs wholeheartedly. But, don't take our word for it! The best thing you can do right now is study up. Stephen, our cofounder, writes about licensing for Inc.: www.inc.com/author/stephen-key. His book One Simple Idea lays out the 10 steps needed to license an idea. You can find it in libraries and here: www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676. Another thing to do is study the market for existing products similar to yours. What can you learn? If you need help, inventRight is a one-on-one coaching program. Call us here: 1-800-701-7993.
+garland d clay sr. Depends on the product and what you want to do! Stephen's book One Simple Idea offers a good overview of the licensing process and how it differs from bringing a product to market yourself: amzn.to/1SL1ABP.
Some medical/health industry inventions require extensive testing and other hurdles to overcome. It's definitely possible though, watch Stephen's interview with an orthodontist who inventRight helped license his technology: ruclips.net/video/l0i1sclixDM/видео.html
I don't know about anybody else, but my mother-in-law has never ever shared her recipes with me. She doesn't need a patent because she has no intent of ever sharing them with anyone. that woman will take them to her grave.
Hello guys. Love the channel, just subscribed and looking forward to catching up on all the information. A question related to this topic...is the manufacturing/tooling industry a good industry for inventions?...I KNOW I HAVE A WINNER!!!
Thanks for the response!!! It's an improvement on an existing commonly used tool. So there will not be much of a difference to manufacturing/producing this tool.
For reference: it's like the first modern hammer being made. Then someone improved it and thought to put a "fork" on the other end to take nails out. So my product (not a hammer) would improve this tool making things much more efficient for fabricator in a range of manufacturing fields.
I hope that kind of explains the scope of my invention. I would actually like to tell you what it is so I could get an experienced opinion on this idea.
Absolutely. You can set up an appointment with us, which is free, here: inventright.com. We'd be happy to discuss whether your idea is licensable or not!
If you have the money and the knowledge you can do anything you want! If you have an Idea that you know is better then the old one that's out on the market now but you don't have any money then your screwed! I wanna know how I can get my design to market so I can put more people to work and make a little money for me and my kids! I'm poor as dirt I don't have the money to do what ever else has to be done!! Invent help has drawn me in there web!
Stephen's book "One Simple Idea" is available for free in libraries in the United States. Have you read the 300+ articles in our library? www.inventright.com/help/licensing-library
One company that I will not name, tells you on their website that any idea you share with them is theirs and they don't ever have to pay you anything. You have to agree to that before they will even look at your idea.
Guys I disagree in your software patent advise. First off you can protect the code through copyright. Second you may obtain a patent on your software as long as you prove to have an invention and by that I mean that your software passed the patent test.
Big fan of Steven Key here, mostly his books. I wish more inventors really took to hear his "Key lessons", many of which are beyond the scope of this video. This video just scratches the surface. One good book of his is "Sell Your Ideas with or without a Patent".
Chris, you rock. Thank you for recommending "Sell Your Ideas With or Without a Patent." Stephen has described it as the most important book he's written. www.amazon.com/Sell-Your-Ideas-Without-Patent/dp/1507885733/
Hi guy's, I have about three 3 Really important idea that I've have not yet made to have that I'll be able to patent all three of them. but I'll really like to know if there's a Company that's can have my most Accurate idea for a legal position for The Officners of the South Carolina sheriff and police officers out there
Stephen I need advise. I have an 💡 idea but I need to know if it’s worth licensing. I don’t have much knowledge nor experience in this. You babe so much knowledge and it seems like you love to help people. It’s regarding face mask. Please contact me
I haven't done it yet but I was hoping you could help me understand the process of doing so. Can I use a PPA to protect my app? or do I copyright the idea? it's very confusing. Thanks for all you do. I look forward to meeting you in NY!
Stephen has interviewing cleaning companies that embrace outside idea submissions. Read his article: www.inc.com/stephen-key/how-trade-shows-help-you-license-your-product-ideas.html
Can I have a patent on small innovative service on an app in travel and tourism sector......please do reply .....can you make any videos based on that .....
Difficult Industries
1. 2:53 Food Products and Recipes
2. 5:15 Apparel
3. 6:20 Packaging
4. 10:07 Softwares
5. 11:25 Toys
6. 13:15 Automotives
Great tips, because all those industries listed were things that I have considered. Good to know the difficulties in them
You're the MVP Daniel 🎉
I'm in the toy industry......now I'm in trouble
This is my second video to watch of you guys...I'm inspired. You're sharing resourceful and useful information just as I would to my voice and piano students about getting their music out there. It's about the DREAM, not the FAME. Fame takes you away from your dream path...Dream leads you on your path. Getting the license is like the dream. Getting the Patent is like the fame. Love it! Thanks!
Wonderful comment. Thanks for watching and the positive feedback Jackson!
Thanks for the voice Steve and Andrew great information on what to expect from companies wish me luck
Thank you for watching and commenting. Please subscribe if you haven’t already.
Very tired this morning 😊 Started watching your videos and couldn't stop! Just wanted to say Hi Stephen.
Take care,
Tawni
I read another book that recommends not giving your PPA to a potential licensee after an NDA is signed. They say the licensee can see what you put in your PPA and work around it if your PPA isn’t that great. He says it’s a business bluff and forces them to think your PPA is really well written and they can go forward with making a solid patent. He recommends saying you are making adjustments to current PPA so don’t want to show the original one or any of them.
What was the name of the book?
Thank you both for your knowledge. I have a few of what I hope to be great ideas and didn't know how to get started.
Great information from InventRight Stephen and Andrew to assist you to find companies to license ideas too!
Not impossible, but difficult.
Good stuff, Stephen and Andrew. You guys work great together!!!
Oh my goodness within 2 seconds I was like what is Glenn Beck and Dana Carvey doing on this?...🤣😂
I just got a patent for some tools to do electrical work. My patent application consist of several types of tools that do the same thing.I also have several prototypes that are made in plastic. My patent attorney couldn't believe how quick the patent office decided to grant me a patent. It took about 6 months from the time he submitted everything, including the non provisional. I'm looking for some advice, so I thought I'd check your channel.
How did it go im thinking about doing the same thing
You can definitely patent a recipe, it’s just it makes more sense to keep it a trade secret due to there being no limits on length of protection.
What are the ideal industry.
I have a 20 year utility patent pending and I have been trying to get my products manufactured but I'm not sure where to look and my product is a padacrib
We'd love to help you. Get in touch with us! +1 (800) 701-7993
It does take time
Yes it does. You've got to keep at it!
What about string medical devices ideas/inventions , are they better licensing directly with major companies or get them patent first
Great video! I came up with something this morning and I am educating myself on how to do this. Thanks for the knowledge!!
Awesome! If you're new to licensing, you'll want to check out Stephen's award winning book on the topic One Simple Idea: www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676. We also offer a lot more resources online, including columns at Inc. and Entrepreneur. Thanks for watching.
I actually did a Utility PPA on a tennis skirt with a pocket that was designed to hold a tennis ball in such a way as to not be in the way of the swing and it would stay in place without bouncing out. This was in 1999 back in the day before stretch fabrics were used in tennis wear for skirts. I had to do this because I was selling on the web and wanted to protect it from being copied. I didn't have to go forward with a patent in those days since it was established that I had the idea first. The patent laws have been changed so that it is first to file not first to invent. So if I wanted to redo this scenario today, I would have to go ahead with a patent or license it to a tennis wear company and have them go ahead with a patent. Love your videos and I am learning so much for my next ideas. I do have a patent almost granted on a new invention. It took almost 4 years and was so very expensive. I am sorry that I went against my gut and listened to people to go with a patent attorney instead of filing myself. But it seems like it is going to go through after so much time and money. Keep the videos going, I am a fan for life listening to your great advice for all my ideas that I want to produce. I loved the show Quirky and submitted about a dozen ideas that were since then marketed by others in some shape or form. But I kept the good ones under lock and key. My highest score was over 200 votes for my life size Lego furniture which has now been copied or someone had the same idea. That doesn't bother me much, but gives me more incentive to create more ideas. Thanks for your wonderful advice and know how.
Thank you for sharing your story and the kind words. If you haven't read Stephen's book "One Simple Idea," we strongly recommend it! It goes over each of the 10 steps you need to license an idea in great detail: www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676
Thank you for your reply. I am excited to bring my ideas to the medical field! I just joined the inventright program last night. I'm Eager to learn from you and your team!
+Johnny Cisneros We're so glad to have you! Welcome!
Thank you so much for sharing this and the inspiration it creates.
Thank you for watching!
Thank you Stephen and Andrew at InventRight, for sharing great insights of why those industries are tough to license to. You two have a wealth of knowledge; thanks again for sharing
Jake Taylor you're welcome!
Hi Andrew and Stephen, can I license food beverage cosmetics and perfume products? Thank you
Hello Mr. Key...if a company files a patent for you will they put it in their name only and leave you out or do you own part of the patent?
Im worried
I have 4 toy invention.
Do you know or can list a toy company i can contact which deals with RC helicopter or Rc Boats?
The inventor not paying for the patent is not unusual. There is a statistic, I ran across during my process, that 75% of the money inventors make, they make without paying for a patent. The manufacturer pays for the patent to protect its investment. They have detailed specs that go into the patent and they know the process. The inventor's idea is normally broad or versatile and scalable. Some aspects of my idea are specific but still scalable. An example is a ratio. Yes, I'm in the automotive arena. My pitch is that my idea is worth so much money. Also, so many people have attempted to make this product but they all failed. I did not fail.
Intriguing insight! Thank you for sharing!
I actually have a patent in the food space and am working on a new type of product for clothing.
The thing is with food or clothing, it needs to actually be something new. My product in food is in gum and it's just totally different from anything around in the molding, form and utility. It's not a recipe, but just something radical. Same for what I'm doing in clothing.
Yet for bad industries...
I'd just add telecoms. Highly technical for engineers and it'll be obsolete by the time it's granted.
Great points. Thank you for sharing.
+inventRightTV
Btw, email me at charlesaperalo@gmail.com or whatever. Your videos are really cool and I'm wondering if there's anyway that I can help you guys out in what you're doing.
While not business related, I actually have a facebook page and site in politics with almost 70,000 followers and a reach dailg of 10,000 people on our site.
If you guys would ever want any help from another inventor in building your brand, I here to help! Also, I like your videos so much I'd help for free!
That's such a cool offer! Thank you. Of course anything you want to do to shout us out would be much appreciated. We'll shoot you an email.
+inventRightTV
Well, I think I can help you out in several ways over just doing a basic shoutout.
Really, I see someways to improve your youtube presence with format changes to your show in order to easily bag 20,000 views an episode.
So how can you product a low carb recipes? I think, he said there is a way you can.
Need a little inspiration to keep working on your ideas? Read about Erin Borges, creator of the patented award-winning GoGo Gift Bag. In less than 2 years, she got her reinvention into Target, Bed Bath & Beyond and Cost Plus stores nationwide. How she'd do it? By licensing to a market leader! www.entrepreneur.com/article/307875
great advice! I am wondering, what if i had a medical formula or recipe and a way to prepare it, what should in do now, can i have provisional or a copyright, thats juct let me directly to the companies.
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 would you characterize the relative difficulty in licensing a novel product to the woodworking or power tool industries in comparison to the high degree of difficulty you noted for the OEM automobile industry? I am hoping that my entre will be made somewhat easier by well placed contacts I have established in licensing my several previous woodworking products to small companies, but I think my current IP has a chance of appealing to a major manufacturer, so I will not have the same personal relationships to rely upon in reaching a real decision-maker. In this situation, should I reference my previous minor successes and relationship with these contacts who would vouch for me in initial communications with these bigger companies, or should I rely strictly on brevity and count on my sell sheet and video to sell the product for me?
I would be general in referencing your past success. I think that's fine. - Andrew Krauss, inventRight Co-Founder
@inventRightTV Thanks, Andrew. To follow up, do you have any idea of typical range of royalty rates individual product developers are able to negotiate with very large tool corporations, such as those whose products are sold at big box stores? I am guessing that the massive anticipated volumes necessary for them to enter a license agreement would naturally (and reasonably) liwer the rate substantially below 5%. Does that sound right?
Is an app for cell phones considered software.
I would need a little bit more information, but I would say yes!
Thank you gentleman, and God bless!
You guys brought light in my life Thank you
I found the FTC webpage helpful. You're telling me it's going to be hard, everything is hard though. At this point, I'll go with the first five or ten industrial inventions I came up with, and allow them to do what they want, according to what they think is necessary. Later down the line, build a lab & library to work independently from. I'll keep watching your videos. maybe I'll see something about scam companies that make you pay fees.
This is very informative, can you guys make a video of what industries that are easy to license to please. Thanks guys
Stephen and Andrew discuss inventor-friendly industries here! ruclips.net/video/7qtAktBDaQM/видео.html
Thanks guys. appriciate it
Its a blessing to find you guys on this internet ful of junk content.
Hopefully I will be joining your program soon after finishing the books of Mr. Stephen
Stay blessed
Glad to have you as part of our community, Mohammad.
I love this channel and its really woken my spirit of creativity back . Do u have a class for people who want to get into this industry? Thanks and waiting on ur response .
Yes! We have a program that teaches live classes twice a week. Check it out: www.inventright.com/what-we-offer/ir-academy
You can email us at andrew@inventright.com, call us at 1-800-701-7993, or set up an appointment at your convenience using this link if you'd like to learn more about our Academy program: www.inventright.com/contact
So.. this is exactly the video I was looking for so I appreciate you guys doing this first of all..
So I have a question in regards to ingredients for recipes or food items and the food industry in general as far as patents go or licensing:
So, there was a European product called Diamondbrite, it was a spray that you put on your car, make your car really shine--but they didn't say what was in it, apparently, because they didn't want anyone to steal their "secret sauce," I guess, and make a new diamondbrite ( that's what 've heard from an American reseller, anyway.. and this was back in the 70s, I think times maybe were just different too?) I have some ideas for recipes or "anxiolitic/calming" supplements and I'm wondering if I have to list all the ingredients, if I don't want to get a patent..I still want to sell on a site like Etsy or eBay or whatever? Or do I just need to list allergies or allergens? I see products coming from eBay or Etsy especially that definitely don't list all ingredients, but they seem more mom n pop type, or Chinese sweat shoppish.. one of the two.. )
If you can point me in the right direction I would be super super grateful!
Hi I'm a new inverter and I have a great idea for a one of a kind tabaco/marijuana pipe/bowl and with the rise of the cannabis industry and with more and more states legalizing it I thought it would be a great time to get in on the action. Being a medical cannabis user myself and with my many other skills I have made a working prototype of the product and I was wondering how I would go about making a "Previsual patent" and what kind of company's should I reach out too to license my product too? However I don't have a lot of money, and certainly not enough to hire a attorney to do it for me so I was just wondering what my options are and what advice you could give me if possible?
Contact Davison Co. Or inventland
We have a PPA for the function of our shirt. Sweat-Proof Patch for shirts. Trying to license it to a uniform supplier. Launched on Kickstarter last year, have an established business. You guys think we have a good chance in landing a licensing agreement?
love you guys, great to watch
Great show guys.
Great video! Thank you!
Hi Stephen and Andrew! Thank you for such helpful info on all your videos! I would like to license food and beverage products can I join your coaching program even if it’s hard to license them? I can’t afford patents. Thank you
Valuable Information and Thank You 😊
Just love you guys, your a creators angel! I just prolprobably call you again. Will do in the right timing.
Thank you for watching!
Great ideas!
This topic is about me and my food business. I have filed a provisonal patent for manufacturing method using right invent. Struggling to start a food business in brexit UK is a nightmare. I'm exhausted!! I do need help!!
Hello how easy is it to license a product to the large companies that sell plumbing products
I have been binge watching your videos for patent and licensing. In this video you speak of software and how difficult it is. If I had an idea for an app to be put on your phone, would that be considered software? How difficult is it to patent a app for you phone? TIA for any advice.
hello, I'm brendan. great videos, I'm just starting out. I'm negotiating with a major american company about a licensing deal, it's great. I have learned a lot from your videos, thank you. I have another idea for the automotive paint industry, could you give me any advice about which companies to approach? how to approach them ? are they an easy industry to invent for? Thank you in advance.
regards Brendan
Brendan, please download our free ebook "Getting In." It has the answers to your questions: www.inventright.com/getting-in
I love this video!
Keep up the good work guys! Is the medical industry an easy one to tap into? Would love to hear a talk on that.
+Johnny Cisneros There can be a lot of red tape, but it's becoming more receptive to working with inventors!
Thank you so much for this.
You're welcome!
@@inventRight I have a question regarding a utility patent. I have a utility patent that I would like to do. I have the design, and know how it will work, I just don't know every minute detail to the inner workings, technology wise. Do I need to detail my invention down to every small inward part?
Thank you, guys! I just finished One Simple Idea: Turn your Dreams into a Licensing Goldmine While Letting Others Do the Work. Truly fantastic. I have a great idea for the name of a beer that I am led to believe will sell, as well as a marketing campaign that can back it up. I don't want to start my own brewery so I was wondering, is it possible to license the name to a manufacturer or does this fall under another category completely? Am I technically licensing the trademark? Is it possible for me to file a PPA for something like this?
+Mike Swiatek Thank you for your kind words! No, that would not be able to be patented (so no PPA). What you're talking about is more of a brand, and brands are certainly licensed, but usually because they've been stablished and have name-recognition already.
Is the razor blade industry good to license an idea to?
Dear Stephen, What type (if any) of protection did you have on your guitar picks? Thanks!
i was wondering if someone have already submitted an idea to a company, but you haven't signed an agreement with them, can they use your idea behind your back,. Now mind you this is a well known company, found out they've been sued in the past, so you change your mind about using them for the idea
Great channel 👍👍👍
@11:40 you say that the Michael Jordan wall ball was not protected whatsoever. Well then how did you license that idea? What stopped the manufacturer from hearing out your idea and subsequently retaining all earnings for themselves with no royalty to you?
A bit confused.
Hi John!
Thank you for watching. Sometimes, being professional, prudent, and reasonable goes a long way in protecting your ideas. Licensees are happy to maintain good relations with outside innovators who are helpful and who provide value to them. For more detail on this, you can read this Inc. article: www.inc.com/stephen-key/5-ways-to-motivate-people-to-work-for-and-not-around-you.html
you mentioned starting a business....do you recommend an LLC?
We do. Although as far as licensing is concerned, you don't necessarily need to start a business until you're ready to sign a contract (which you do not want to do in your own name.)
Oh man for a second I thought you we’re sitting next to each other lol. I need to lay off the drugs.
:))))
🤣
First, another awesome video!! Secondly, I am unable to find the video where you discuss the easy industries in which to license a product. I searched RUclips, but can't seem to find it. Please advise.
I see in your other comment that you found it. Great! - Andrew Krauss, inventRight Co-Founder
Great videos! I got a product invention that I want license itll probably be a QVC killer i have no patents and have cell sheet with digital CAD models and a short 3d video presentation Im an inventor but new to patents...
Does PPA cover CANADA or is it the same process? sorry im a newbie id rather just pay someone to launch this and sit back and collect royalties since market research looks very promising and manufacturing costs appear to be low with high margins.
Provisional patent applications are part of the United States patent system. If you filed a PPA in the U.S., that would not cover Canada. You can do this! Read Stephen's book "One Simple Idea" for the 10-step process you need: www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676
No one will work as hard as you will.
How About Names of Licening Attorney,s On the show ?
I have a question - regarding your spin label - Doesn't a patent expire after 7 years, then anyone can produce it?
All utility and plant patents filed after June 8, 1995, have a term of 20 years. Though, to be clear, a patent does not prevent others from making your invention. It just means you can attempt to stop them through legal channels. Thank you for watching!
Iv seen your videos and wanted to join your group but you ask a lot of money $4000.00 dollars is a lot of money to some people that are hard workers that can’t afford what you asking and what do we get in return.. for our investment ?
Hello Danny. None of our services cost $4,000. To find out if one of our programs is a good fit for you, contact our office: www.inventright.com/contact
how is the medical equipment sector for product development? you didn't mention that arena on the video, thanks
The medical industry is opening up slowly but surely! The newest coach to join inventRight has a background in healthcare. Thank you for watching!
So here is a question for you...
I have an idea with prototypes and CAD modeling, a business plan (more like a plan with market research and financials of the product) and the manufacturing forecasted costs. I do not have a patent and am looking for investors to help hire a patent lawyer to file the patent. How would I pitch to investors without them turning around and stealing my idea? How protected can I be without a patent? I know when it comes down to it, investors are only interested on how they will make a return on their investment. Thanks-M
The intellectual property you file should be a key component of your business strategy. Have you read Stephen's book "Sell Your Ideas With or Without a Patent?" In it, he describes the benefits of filing provisional patent applications: www.amazon.com/Sell-Your-Ideas-Without-Patent/dp/1507885733/. He's also covering intellectual property strategy from a business perspective for Forbes.com: www.forbes.com/sites/stephenkey/#7dbf44b53dfd. Thank you for watching.
Hi. Im wondering if i want to remake something that's already been done but i want to remake it differently and better would i be able to license that as my idea?? Also i already accepted the fact that the product that i want to remake is something that'll be hard to protect and only remade again so should i even bother licensing?? Or what can i do because I really love the idea.
Hmm. To be honest without knowing more it's difficult to say. You can give us a call to discuss if you like: www.inventright.com/contact
Hi,
Great Video. All of your video are very helpful.
I want to submit my idea to a well known company however, the process is online and I can't send my NDA to them. I am only allow to agree to their terms without the submission of my NDA. Should I go ahead and pursue this company even though my NDA isn't signed?
+JN Azoulay Thanks for watching! Read their terms closely and make sure you understand what you are agreeing to. Most companies will not sign an inventors' NDA (especially before they've seen anything). More on that here: www.inc.com/stephen-key/how-to-get-the-most-out-of-submitting-a-product-idea-online.html.
Hello! I was doing a Google search on how to get started with selling an idea and came across your videos. I've never done this before and have found them very helpful. I am a stay at home mom and have no clue where to start! I got the idea when I was taking my son to the YMCA for swim lessons. All that work getting packed up, load and unload a kid, get into swim clothes and try to arrive on time just to find the pool closed because someone put their kid in the pool without a diaper because they forgot one. I have ran my idea by other moms and they love it. It could go in places like gyms, Airports, zoozs, ext. But who do I talk to about getting it started? Is it worth the effort and cost?
+Andrea Herstad Hi Andrea! I'm glad you found us. First, breathe :) It's exciting and wonderful to have an idea you might want to try to bring to market. There are different ways of bringing a product to market. One is to start a business on your own; another is to license your idea to a company. Licensing can be thought of as 'renting' - in exchange for the right to manufacture, distribute, market, and sell your idea, you receive a percentage, or royalty, of each unit sold. It's much, much less risky (aka capital intensive) than starting a business. inventRight's focus is on licensing; we believe it's a better option for most inventor entrepreneurs wholeheartedly. But, don't take our word for it! The best thing you can do right now is study up. Stephen, our cofounder, writes about licensing for Inc.: www.inc.com/author/stephen-key. His book One Simple Idea lays out the 10 steps needed to license an idea. You can find it in libraries and here: www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676. Another thing to do is study the market for existing products similar to yours. What can you learn? If you need help, inventRight is a one-on-one coaching program. Call us here: 1-800-701-7993.
Stephen, when you mention you were able to have the licensees pay for the additional patents, were you able to maintain ownership of the new patents?
Absolutely!
Hi, l'm enjoying all your videos.My question is,if I have a products for the golf industry do l license or ppa or sale it?
+garland d clay sr. Depends on the product and what you want to do! Stephen's book One Simple Idea offers a good overview of the licensing process and how it differs from bringing a product to market yourself: amzn.to/1SL1ABP.
Thanks great video guys!
Rich Coppens thank you!
Thank you guys!
Is the medical /health industry also difficult to license as well?
Some medical/health industry inventions require extensive testing and other hurdles to overcome. It's definitely possible though, watch Stephen's interview with an orthodontist who inventRight helped license his technology: ruclips.net/video/l0i1sclixDM/видео.html
that you actually solve a problem..
8:15 pay attention here folks, there is a process - It's not over night money
100% true.
I still love you guys you're awesome
Farley Gordon thank you!
Hi Are you guys just as knowledgeable for licensing in Canada?
We have coached many inventors from Canada. Find out more: www.inventright.com/what-we-offer/bootcamp-coaching
I don't know about anybody else, but my mother-in-law has never ever shared her recipes with me. She doesn't need a patent because she has no intent of ever sharing them with anyone. that woman will take them to her grave.
Maria H. That's shameful. The world is about making it a better place as life goes on. It should be a better world from whence we first arrived.
The pastor at my gfs grandmas funeral knocked on her casket and said "Youre gonna take those recipes to the grave with you aren't ya?"
@@Joesixfour lol
Hello guys. Love the channel, just subscribed and looking forward to catching up on all the information. A question related to this topic...is the manufacturing/tooling industry a good industry for inventions?...I KNOW I HAVE A WINNER!!!
Can you elaborate? Any ideas that require new manufacturing equipment to be produced are generally too risky. Thanks for watching!
Thanks for the response!!! It's an improvement on an existing commonly used tool. So there will not be much of a difference to manufacturing/producing this tool.
For reference: it's like the first modern hammer being made. Then someone improved it and thought to put a "fork" on the other end to take nails out. So my product (not a hammer) would improve this tool making things much more efficient for fabricator in a range of manufacturing fields.
I hope that kind of explains the scope of my invention. I would actually like to tell you what it is so I could get an experienced opinion on this idea.
Absolutely. You can set up an appointment with us, which is free, here: inventright.com. We'd be happy to discuss whether your idea is licensable or not!
If you have the money and the knowledge you can do anything you want! If you have an Idea that you know is better then the old one that's out on the market now but you don't have any money then your screwed! I wanna know how I can get my design to market so I can put more people to work and make a little money for me and my kids! I'm poor as dirt I don't have the money to do what ever else has to be done!! Invent help has drawn me in there web!
Stephen's book "One Simple Idea" is available for free in libraries in the United States. Have you read the 300+ articles in our library? www.inventright.com/help/licensing-library
you guys have different views and it makes for good watching ;-)
Thank you!
I feel good like James Brown.......yeah
Excellent
Thank you for watching!
One company that I will not name, tells you on their website that any idea you share with them is theirs and they don't ever have to pay you anything. You have to agree to that before they will even look at your idea.
+Angela Sachs That's why it is so important to read the fine print! Thank you for sharing.
I think I know the fruit. I remember reading that some years back.
Many companies do this.
If it’s publicly available info, might as well share it.
Guys I disagree in your software patent advise. First off you can protect the code through copyright. Second you may obtain a patent on your software as long as you prove to have an invention and by that I mean that your software passed the patent test.
Big fan of Steven Key here, mostly his books. I wish more inventors really took to hear his "Key lessons", many of which are beyond the scope of this video. This video just scratches the surface. One good book of his is "Sell Your Ideas with or without a Patent".
Chris, you rock. Thank you for recommending "Sell Your Ideas With or Without a Patent." Stephen has described it as the most important book he's written. www.amazon.com/Sell-Your-Ideas-Without-Patent/dp/1507885733/
Hi guy's, I have about three 3 Really important idea that I've have not yet made to have that I'll be able to patent all three of them. but I'll really like to know if there's a Company that's can have my most Accurate idea for a legal position for The Officners of the South Carolina sheriff and police officers out there
Not quite sure what your question is.
Stephen I need advise. I have an 💡 idea but I need to know if it’s worth licensing. I don’t have much knowledge nor experience in this. You babe so much knowledge and it seems like you love to help people. It’s regarding face mask. Please contact me
Feel free to reach out to one of our advisors. www.inventright.com/contact. -Andrew Krauss, inventRight Co-Founder
Hi Guys, can you please go into licensing an idea for an app please? I love your show! You now have a devoted follower!
Thanks for watching. If you've licensed an app, we'd love to hear from you! We're researching that question.
I haven't done it yet but I was hoping you could help me understand the process of doing so. Can I use a PPA to protect my app? or do I copyright the idea? it's very confusing. Thanks for all you do. I look forward to meeting you in NY!
Jon Mcleod i have 183 inventions and i want to sell them all
347 355 5603
Are hunting and fishing company’s open to inventors?
The best thing to do is just ask them. I know Flambeau is. One of our members licensed a great fishing accessory to them.
-Stephen
What if I have an idea and they offer me .05% per unit, what if I decline the offer and I have no patent can they take my idea? My biggest concern
You mean that Jump off the Shelf at you Packaging
I have an idea I need to talk to someone everyone with a car will want one, guaranteed
What about the cleaning industry?
Stephen has interviewing cleaning companies that embrace outside idea submissions. Read his article: www.inc.com/stephen-key/how-trade-shows-help-you-license-your-product-ideas.html
What about cosmetics?
Damn nice.
Can I have a patent on small innovative service on an app in travel and tourism sector......please do reply .....can you make any videos based on that .....
Maybe. That's a good question for a patent attorney/agent. inventRight's focus is on bringing products to market, not getting patents.