Hey Stephen, great to see you made a video while you were there at the NHS. I was so glad to see you at the Inventor Spotlight room, glad i spoke with at you at my booth Secure Latch, wish you would have returned. Love all of your videos, thank you for all of your teachings and has helped me get to where I am today. Hope to license my product too many of the vendors that I talk to. Look forward to possibly working with one of your coaches on licensing deals. Secure latch, don't replace the door secure the latch.
You can! Stephen explains the process he invented for licensing ideas in his book "One Simple Idea": www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676
Great content ! You mentioned : Take the opportunity to present your idea to the Licensee trough a pitch or a Video presentation. Wouldnt that expose my idea (product) into the open . ?
I have your book, and thank you for these videos. I'm going to pay for the patent and finally get started Monday, then once I'm patent pending can I licence my product ? And do I need a physical prototype to get licensed ?
Hi Elizabeth. Have you read the book? Stephen's strategy is about how to license an idea using a provisional patent application (PPA). Not a patent. After a PPA (which costs far less to obtain) is filed you can say patent pending. No, you don't need a physical prototype either. If you're looking for help, that's what we do - our coaches help inventors step by step: inventright.com/what-we-offer/bootcamp-coaching Don't get overwhelmed! You need to focus in on your strategy.
Bought your book and a licensee is interested, but we are at an impasse. How do I answer these questions? "as you hold the patent, you’d be expected to enforce the patent and bear any costs involved. Another scenario is whether you would cover an indemnity should there already be a similar product on the market and claims were made against us to cease selling and remove stock from the market."
If i found a technology already patented, why would the patent owner license to me if i reveal what the tech can be used for? What if after revealing my intentions what to apply the technology in, they want to do it themselves?
I want to make a product that would be an improvement to the standard and at a more affordable price. I got the idea when trying to buy a product online that was very limited in design and supply, and extremely over priced. I want to make money, yes, but more importantly, provide an alternative to current supply that lasts longer and costs less. Sometimes it's just so unfair...I feel that I can help people feel more fulfilled for a fair price. I have no idea who to approach for the manufacturing.
Hello Angela. It sounds like you have come up with a simple idea that could be a great fit for licensing. You do not need to manufacture this idea yourself to bring it to market. You can try licensing it instead, which is far less risky. Tim is correct - Stephen's book "One Simple Idea" will show you how to get a licensing deal in 10 steps. You can find it in libraries in the U.S. as well as here: www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676 Thank you for watching. If you're looking for help, don't hesitate to reach us: www.inventright.com/contact
Patents don't stop people from copying your ideas: www.forbes.com/sites/stephenkey/2020/06/04/why-patents-dont-stop-people-from-stealing-your-invention/
@@inventRight Yes, appreciate your reminder. I understood this point long ago. When I learn to write patent description and claims, I learnt how patents can be worked around and what role claims work. And no one can get granted patent rights for the whole world. This already tells us, it's not just ideas cannot be prevented from being copied, the exact invention can be legally copied. Laws are like women. You cannot live without them and you also cannot stand them at times. Despite the limitations of patent rights , protecting our IP should still be done where possible. So, patents are still important in many situations and PPA is for perceived ownership
I have a product idea which re-purposes an existing product into a completely different market of 10 million potential buyers. I don't believe mine is patentable. My options are to manufacture myself (I am in Mech. engineering and have worked in manufacturing). Or can I license without a provisional patent?
Hello Teagan. There are many reasons to consider filing a provisional patent application on your invention first, which you can read about here: www.forbes.com/sites/stephenkey/2018/01/08/dont-file-that-patent-yet-file-a-provisional-patent-application-first/ A provisional patent application provides you with perceived ownership, which you can use to test the market. This advice stands for simple improvements to existing product ideas. If you have a 'big' invention, you will need more than one patent to effectively establish and maintain your ownership. Please contact us for help devising your strategy for getting to market and profiting from your invention: www.inventright.com/contact
Patents do not stop people from stealing your invention. Learn why: www.forbes.com/sites/stephenkey/2020/06/04/why-patents-dont-stop-people-from-stealing-your-invention/
Good job Steven! it is very encouraging to see company people stating that they like and work with us inventors! The sky is the limit!
Jack M thank you for watching!
Hey Stephen, great to see you made a video while you were there at the NHS. I was so glad to see you at the Inventor Spotlight room, glad i spoke with at you at my booth Secure Latch, wish you would have returned. Love all of your videos, thank you for all of your teachings and has helped me get to where I am today. Hope to license my product too many of the vendors that I talk to. Look forward to possibly working with one of your coaches on licensing deals. Secure latch, don't replace the door secure the latch.
Mike Morrison pleasure meeting you!
I would like to do what you do. I'm always getting random ideas popping into my head.
You can! Stephen explains the process he invented for licensing ideas in his book "One Simple Idea": www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676
Great content ! You mentioned : Take the opportunity to present your idea to the Licensee trough a pitch or a Video presentation. Wouldnt that expose my idea (product) into the open . ?
Great video, thanks for sharing Stephen.
Just purchased your book / We have a plumbing tool we have developed / have a few made all ready / need some help !!!
I have your book, and thank you for these videos. I'm going to pay for the patent and finally get started Monday, then once I'm patent pending can I licence my product ? And do I need a physical prototype to get licensed ?
Hi Elizabeth. Have you read the book? Stephen's strategy is about how to license an idea using a provisional patent application (PPA). Not a patent. After a PPA (which costs far less to obtain) is filed you can say patent pending. No, you don't need a physical prototype either. If you're looking for help, that's what we do - our coaches help inventors step by step: inventright.com/what-we-offer/bootcamp-coaching
Don't get overwhelmed! You need to focus in on your strategy.
Awesome video! Definitely need to do this... thanks Stephen!
Thanks for watching!
Well put together video. Love it!
Great Advice again Stephen, you always come thru in with the cobra clutch!
Inventitious thank you!
Thank you Steven !! Excellent information!
CSPD3522 thank you for watching!
Should I be attaching my sell sheet if the only email I get is "info" or "customer service"?
Always the best info. Home run...again!!!
danny cehrs thank you for watching!
This is very interesting I want to try it 👍
What if you can make it to a trade show and they don’t have it for your town? Can you still contact them over linkedin?
Should I LLC every idea I have before trying to license?
Thats.. is Good advise... The pitch....👍All Ears...
If you don’t get to go to a trade vendor show, how do you find out if they are inventor friendly.
Thank you I have amazing product I need help with it will help lots of people
You can reach us here: www.inventright.com/contact
Love it. Thanks for all you do!
Hello Lisa
How are you doing today.
Is there online trade shows?
We love the idea of an online trade show.
Bought your book and a licensee is interested, but we are at an impasse. How do I answer these questions? "as you hold the patent, you’d be expected to enforce the patent and bear any costs involved. Another scenario is whether you would cover an indemnity should there already be a similar product on the market and claims were made against us to cease selling and remove stock from the market."
Please reach out to us by calling 1-800-701-7993, emailing andrew@inventright.com, or scheduling an appointment: www.inventright.com/contact
I have an amazing idea....just need help getting it there.
What are you waiting for? inventright.com/
Hi Stephen, the list you mentioned, where can I find it?
How do I receive money from the ideas I licensed?
Hello Mr. Key, Chuck L and Terry O. Maybe I’ll see you there next year. 😎
James Graham I hope so!
Hi, Did you post those companies on the net looking for ideas, where can I find that list? thank you..
Visit inventleader.org/, become a member (its free), and then you can access 500 companies looking for ideas. Thanks for watching!
What if you give the idea and they run off with it
How do you stop these companies from stealing your idea?
If i found a technology already patented, why would the patent owner license to me if i reveal what the tech can be used for? What if after revealing my intentions what to apply the technology in, they want to do it themselves?
This video would be even greater if it had lower thirds with the names and titles of the persons featured in it. My humble, unrequested opinion.
Stephen is working on article that will include more information about the open-innovation friendly companies featured in this video.
@@inventRight Great!
I want to make a product that would be an improvement to the standard and at a more affordable price. I got the idea when trying to buy a product online that was very limited in design and supply, and extremely over priced. I want to make money, yes, but more importantly, provide an alternative to current supply that lasts longer and costs less. Sometimes it's just so unfair...I feel that I can help people feel more fulfilled for a fair price. I have no idea who to approach for the manufacturing.
Get his book "one simple idea." It will help you see that manufacturing is just one tiny (and expensive) piece of the puzzle.
Hello Angela. It sounds like you have come up with a simple idea that could be a great fit for licensing. You do not need to manufacture this idea yourself to bring it to market. You can try licensing it instead, which is far less risky. Tim is correct - Stephen's book "One Simple Idea" will show you how to get a licensing deal in 10 steps. You can find it in libraries in the U.S. as well as here: www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676
Thank you for watching.
If you're looking for help, don't hesitate to reach us: www.inventright.com/contact
If without a patent or even a PPA , a successful product licensed could lead to others copying it. Am i right?
Patents don't stop people from copying your ideas: www.forbes.com/sites/stephenkey/2020/06/04/why-patents-dont-stop-people-from-stealing-your-invention/
@@inventRight Yes, appreciate your reminder. I understood this point long ago. When I learn to write patent description and claims, I learnt how patents can be worked around and what role claims work. And no one can get granted patent rights for the whole world. This already tells us, it's not just ideas cannot be prevented from being copied, the exact invention can be legally copied. Laws are like women. You cannot live without them and you also cannot stand them at times. Despite the limitations of patent rights , protecting our IP should still be done where possible. So, patents are still important in many situations and PPA is for perceived ownership
The problem is if i show them the idea they can steal it from me. Soo what should i do?
I have a product idea which re-purposes an existing product into a completely different market of 10 million potential buyers. I don't believe mine is patentable. My options are to manufacture myself (I am in Mech. engineering and have worked in manufacturing). Or can I license without a provisional patent?
We can help you determine the best strategy for your product idea. Contact us: www.inventright.com/contact
Do I need a patent to test market my product?
Hello Teagan. There are many reasons to consider filing a provisional patent application on your invention first, which you can read about here: www.forbes.com/sites/stephenkey/2018/01/08/dont-file-that-patent-yet-file-a-provisional-patent-application-first/
A provisional patent application provides you with perceived ownership, which you can use to test the market.
This advice stands for simple improvements to existing product ideas. If you have a 'big' invention, you will need more than one patent to effectively establish and maintain your ownership.
Please contact us for help devising your strategy for getting to market and profiting from your invention: www.inventright.com/contact
How to keep ppl from stealing your idea
how do you know these people in the show will not steal your idea and claim it theirs? I’m assuming you have to have a parent ?
Patents do not stop people from stealing your invention. Learn why: www.forbes.com/sites/stephenkey/2020/06/04/why-patents-dont-stop-people-from-stealing-your-invention/
I know the easiest way,only to have full pocket of money 🤑💰💰💰💰💰🤑🤑🤑🤑🤑🤑🤑🤑
You look for money 🤑💰💰💰🤑🤑🤑 not for Companies