License idea

Do you want to someday capitalize on this patent yourself? If so, you might opt for an agreement of 5 years or less. The key is to choose the length consciously, based on your true needs and goals. Of course, you should also use a patent attorney for the duration of this process.

Additionally, a good patent attorney can also warn you if you are about to license your idea in a way that harms you. What if the manufacturer tries to get away with paying you a pathetically small sum in royalties? If you can keep these considerations in mind and the timing is right for your product in the market place, you will have a much better probability of profitably licensing your idea to a manufacturer.

The site gives inventors the opportunity to showcase their intellectual property to consumer product companies, entrepreneurs, retailers, and manufacturers. You can email him at EricCorl IdeaBuyer. I have invented a fine piece of equipment for the Paint striping feild. Infact 14 painters who I work with also agree. So, being an inventer I had to do something. And I did. I have a patent and number because my product is far superior then any on the market. They are in dier need of my product and ready to buy at least 6.

Their are 5, paved airports in the US. Thank You for reading this. Please let me know what you think. Way to go Abe, i am in the same situation, there is none like my Patent and I seem to be having a problem Licensening it to Manufacturers, I would like a non-exclussive contract for 3 years, Man I am having Problems with it, It is a Motorcycle Accesories! There is Harley Dealers in the US. I sure would like to get that one. Congratulations again on Your Patent.

Way to go! I would like to license an idea. Its practical and will save fuel. Its simple and is used for other purposes, except on automobiles. It can be easily added as a new feature which every driver will appreciate. But the million dollar question is how to present it to the manufacturer without getting it copied into their own?

I have an invention that is in the Patent Pending process. It Sneakers, they have a unique design. I am having a Website produced, a prototype, and a box developed for the sneakers. If you are interested please contact me. I have invented an apparatus that aids the feeding of babies, nothing like it exist and it will go global and sell as long as babies are being born. Companies are going to want proof of concept, of course.

They want you to spend money and time on your prototype, of course. Anyone who tells you that you need a prototype right away has not made a living as an inventor, because inventing is a numbers game. Use a sell sheet first. I love prototypes. My background is in sculpture! I truly love to build things. But I have learned that prototypes take time and money, and resources are limited. So, be very careful. Only build prototypes when you have interest.

This surprises many people. Sure, in a perfect world companies would love to have a monopoly on an idea. If you wait for a patent to issue, you might miss the opportunity of selling that invention in the marketplace.

Chasing people down, in most situations, is a waste of time and money. Then again, in some situations, applying for a non-provisional patent can be extremely useful. A patent can help you raise money or give you the perceived ownership you need to get a company to license your idea. Only a provisional patent application. The licensee has the option to file a non-provisional patent application if warranted.

So, what should you do? It's a sort of test run. It's dipping your toe in the water before diving in. In my experience, big companies don't license ideas that often. They don't innovate so much as purchase innovations. They let smaller companies duke it out. They let them take the risk. It might seem perverse, but big companies are also extremely frugal with their money. They rely on the leverage that their size and power of distribution affords them.

You can go through the front door, and call the company directly, but prepare to be sent to the legal department. That's OK; the process is just going to take longer. You will have to sign non-disclosure agreements. They'll want to look at the intellectual property you have filed, so you'll need to make sure yours is airtight. Personal connections.

Knowing or forging a relationship with someone who works at the company is a great way of getting your foot in the door. Just realize that although you've gotten in through one door, there will be many more doors. There's also a good chance you'll still end up in the legal department. Remember to be respectful. This person is going out on a limb for you. Other suppliers and contract manufacturers. They have a direct line to the big boys.

Start local and move your way up the supply chain. A simple idea is a small improvement or a modification to an existing product. There's no need to reinvent the wheel. Why focus on bettering a product that's already on the market? Because there's a proven market for it, and a good chance your concept can be manufactured using existing technologies. That's important, because investing in new manufacturing equipment is expensive, and companies are risk-averse.

The more you can reduce risk, the better your chances of getting a licensing deal are. A great pitch. The good news is that you don't have to be a salesperson.

Your marketing materials will do the selling for you, if they're effective. It doesn't matter how much experience you have. Getting your foot in the door is all comes down to how you present your idea. I highly recommend a one-page advertisement , also known as a sell sheet. Your sell sheet should focus on the benefit of your idea; not how it functions or its features.

You don't even need an actual prototype right away. You can hire a professional to create a 3-D computer generated graphics that illustrate your concept beautifully at this early stage of the game. Later, after you receive interest, it may make sense to invest in a prototype. Perceived ownership of said idea. Patents are not required to license simple ideas.

At my company inventRight, we see a signed licensing deal weekly.