How to Get the Highest Royalty Rate Possible
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- čas přidán 27. 08. 2024
- Royalty rates average about five percent. Licensing expert Stephen Key describes how to get the highest royalty rate possible for your product idea.
inventRight is a one-on-one coaching program that has helped people from more than 40 countries license their ideas for new products. It was founded by Andrew Krauss and Stephen Key in 2001. Visit www.inventright... for more information and to become their student.
Call #1-800-701-7993 to set up an appointment with Andrew or another member of the inventRight team to discuss how we can help you license your ideas.
New to licensing? Read inventRight cofounder Stephen Key’s bestselling book “One Simple Idea: Turn Your Dreams Into a Licensing Goldmine While Letting Others Do the Work.” Find it here: amzn.to/1LGotjB.
Want to learn how to license your product ideas without a patent? Stephen's book “Sell Your Ideas With or Without a Patent” explains exactly how. Find it here: amzn.to/1T1dOU2.
inventRight, LLC. is not a law firm and does not provide legal, patent, trademark, or copyright advice. Please exercise caution when evaluating any information, including but not limited to business opportunities; links to news stories; links to services, products, or other websites. No endorsements are issued by inventRight, LLC., expressed or implied. Depiction of any trademarks/logos does not represent endorsement of inventRight, LLC, its services, or products by the trademark owner. All trademarks are registered trademarks of their respective companies.
Thank you for creating InventRight. I thought it was too good to be true. But now that I have joined, I have found that it is better than I imagined. Thank you so much. :)
Thanks for the very kind words Jane. - Andrew Krauss, inventRight Co-Founder
Love your upbeat personality and smile Stephen, thank you for all the great info from all your video's.
I don't understand how you have such small amount of comments and views with over 29,000 subs?
Another awesome advice from Stephen, the information heaven. 🤙🏼👍🏼👏🏼👏🏼👏🏼
perfect timing. I have two potential licensees already just waiting on the confirmation call. wish me luck.
All the best of luck to you Ryan!
Thank you for watching!
How did it go?
Mr Key is right this takes time. Going on 2 months now and one company is moving faster than the other because the other has to get it approved by members of the marketing department. I'm dealing directly with the ceo on the one moving it faster. Once you submit it, it takes a week or so for them to get back to you. But when they do. They will ask what you are looking for, royalty, buy out,manufacturing and they usually tell you the process if not ask. Next they have to get it approved buy the crew who deals with bringing in new products. Then once approved they ask for prototype or before.
It's best to let them know u have one if they don't ask because then u can send a nda or sign there's . Have your pattern attorney look at there's for signing then send out prototype.
Once they gets good results as in accepting it. Next is cost analysis that's what I'm waiting for. I should hear something soon. Then I'll bring up the term sheet and get that in a document. Then next will be contract if everything moves forward smoothly.
That is awesome. What industry are you trying to get your product into?
Tools. Simple tools with a huge benefit. Keep it simple and low moving parts.
5% Sounds Good To Me Brother!
Thank you very much Stephen. I needed to hear this!!
It's great to know we are helping people!
Thank you for watching Bo!
I’ve learned a lot from Mr Key thank you.. I think my invention will sell worldwide that’s why I’m waiting for my track 1 patent to come out...
Keep it up! Looking forward for more videos from you, don't stop!
Dumb question, but how exactly do you RECIEVE royalties? Is it a check to your address or something or do you have to provide your account for them (Who is "them" as well) to send direct payments? This is for licensed products
Hi, i want to know how does company calculate the percentage of royalty?
got my prototype ready to take the next step
Thank you Steven!
I just subscribed to your chanel. The best free money I ever spend!
Thank you Alexandre!
Would coming to the table with guaranteed preorders meaning customers put in their card info and paid help get you a better royalty rate?
I want to contact a Manufacturer in China but I think there's a high chance of them stealing it.
hi, Stephen thank you for making this video, but I have a question that is, if I have a product idea that can be patented and have great potential and I have filed provisional patent, now if I go to the potential licensee and in order to show him proof of concept I launch a kickstart campaign or some other method , but in doing soo am I not running my and his (potential licensee) chance of getting actual patent issued, I mean if the invention become part of public knowledge before getting issue patent then the inventor cannot get a issued patent on the same invention or product idea.
Don’t disclose your inventions before filing intellectual property.
Great advice Stephen.
I agree. Stephen gave great advice in this one. - Andrew Krauss, inventRight Co-Founder
What is Davison Invention all about , does anyone know.?
Whoever you decide to work with, please do your homework. Type in complaints and the lawsuits.
Thanks Stephen from Portugal !
Thank you for watching Alberto!
USPTO
thx - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
I love your channel but I probably shouldn't tell my friends( not that i have any) because they are my competition. I'll tell my friends but they need to pay me a royalty everytime they watch. Can you help me set this up? I'll cut you in for ten percent.
wouldn't selling the item yourself defeat the 'first to market' idea and put you at risk?
Can one collect royalties by trademarking somebody elses product that is not registered yet?
You'll have to check with the laws in your home country, Israel.
What is minimum guarantees and how much should I ask for?
Hello Eduardo.
Minimum guarantees refers to something that is more formally known as performance clauses, in which a company promises to return the license to you if they do not hit certain benchmarks during the duration of an agreement.
Bringing up performance clauses in a negotiation can be very important, but it is also a delicate matter.
If you want to know more about this, make sure to check out a full explanation in our Inc. article: www.inc.com/stephen-key/why-having-a-performance-clause-is-more-critical-than-your-royalty-rate.html.
Thanks for watching!
Love it
Thank you for watching!
My approch is ill demo my product in youtube and hope to get d best royalty deal from a company/s that will hopefully sell my products my market i believe is world wide coz its about guitar tuning stability, ill do it this yr soon as my patent comes out... any advice Mr Key? Highly appreciated Sir...
We'd love to help. Contact us here: www.inventright.com/contact
Steve, there is a guy on Facebook with your profile photo trying to befriend me.
Please be careful.
Thank you Stephen for doing these videos. I have a more specific question, I would like to license my product, but I'm not sure where to start looking because my product can be used multiple ways. Please take a look at ShadeMeShade.com your advice on who to approach would be very much appreciated. Thank You, Michelle
Send it to who ever you think may license it. All they will say is we don't deal with that kind of products. U never know some companies may want a different product line.
Thank you Ryan.
I would need a how NOT to get a higher royalty rate for us looking to license IP 😂
Yes,I would be crying too!
5% of what???????????????????????????
Hello Roger!
Usually (not always), the royalty rate is set as a percentage of the wholesale price of the product.
5 % ?!!!!! Are you kidding me ! Toooo damn low