You have given me hope. I’ve been creating only on paper for over 10 yrs. I’m so excited to bring my product to fruition one day....Thank you for the time and effort that you spend trying to help others fulfill their dreams. Your super cool it seems.
Susan, you can do this! If you haven't read Stephen's book "One Simple Idea," it provides an excellent roadmap. It can also be found in many libraries in the US: www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676
Hi Steve hope all is well! Thank you for your wisdom and knowledge! I recently called the USPTO office to request a Provisional Patent Application which arrived with in 10 days! filled out the forms including the micro entity form which is only $70.00 dollars Crossed my T"s and dotted my I"s and also took pictures of my innovation idea which I installed at my own home and a brief description of what it was and mailed it off along with The $70.00 check made out to the Commissioner for patents! I received The Granted License From The USPTO office ! Thank you again Steve your awesome God Bless you!
im am now obsessed with watching these videos and learning as much as i can. these videos make me feel/realize that i can ACTUALLY DO THIS for my airsoft target idea!!!! I made a sell sheet (drawing) of the target and i think it looks pretty good for my first try! thanks again sooooo much guys!!!!
@@inventRight Hey no problem mate! Frankly, I should say thanks for posting this. I'm right in the middle of making an invention to save the people from wave 2 of COVID-19, so this came at the right time.
Thank Sir, I have invented something. But before I go to patent office I wanted to check it's ups and down. While watching your videos I always feel like you are reading my mind, my ideas, my steps. But at the end i get satisfied that yes I was right in my planning. Now i am feeling that I can read your mind, for example in between when you say easy easy or cool cool, take it easy... means there are of things running in your mind , you have multiple angles to explain that point, but it's difficult to Explain every angle and you want your viewers to to be smart, list everything, make a flow chart of yes or no, don't beleive everyone and don't disbelieve everything. Thanks for your valuable information. It is really helpfull.
In my case filed for provisional patent,Called the company, sent them the provisional patent ,Called,and called and called,Never heard from them again for the whole year they were holding out to see if I was going to go for a full patent because They were going to steal the idea ,”some Companies suck” so I went out and open my own company and sell my own product, I did buy your book I read three pages and just wasn’t into the licensing, good book though.I used thoughts to paper excellent company but you’re going to pay , but it’s worth it....
Thanks for this entire series, it's been very eye opening. I try to think this way when approaching anyone for any business thing - avoid mentioning myself aside from a very brief sentence introduction, then speak of how I can help them/solve their problem/benefit their project. If those don't come easily it's probably an indication I should leave them alone. If you can make someone money or make their job easier and mean it in an honest way then they will generally want to hear from you. If it's someone with whom you don't have a relationship, then it should be personal and cost you more time to prepare than for them to consume so you have skin in the game.
I thought that I knew "it ALL". Had I only known of a provisional patent, I would have changed all your lives. Not with just one or two, but 18 of my 37 inventions. Each invention I put all of my savings into but now is the time to create, file and sell the products or licencing. Thanks Steve.
Stephen, thank you for all your videos, that teach us how to become a great inventor. We're learning the process of selling our product. Grateful for your guidance. Many thanks. Maggie Sierra
I appreciate that you guys reply quickly and honestly. My question: if you cold call and speak about your product, are you at risk if you don't have (at least) a provisional patent?
The only honest answer to that is "You could be." It depends on what you say, when, and how. That's the art of licensing. Benefits open doors. When it comes to protecting your ownership, there are no black or white answers. Think through your strategy and how it all fits together. The short answer: Don't give away too much on the phone.
This is a great video. I like that you share your mistakes haha really grateful for that and "Don’t pitch your idea, just tell them the benefits" i will do this from now on.
I did many cold calls in few industries. Your observations on the right approach and strategy are just right. It took me years to learn these skills. And it is still refreshing to hear it again. (Everyone should :)
As always...great stuff. Only thing i add to these tips is ( and i kno it may b just semantics...but ) instead of me thinking of it as a " cold call " I tell myself they're " hot knocks."
Its really great experience in watching you and your past life experience. we all are kids we do mistake and we grow up . And one day we all become great like you. It will be my best dream to meet you once in this life.
So do you submit one idea to several companies? Or do you wait for a response from one before you submit to another? I really love your videos. Thank you for all the information.
I'm in the middle of trying to license a product now, and I would definitely recommend to submit to many companies at once, as it takes them forever to get back to you sometimes.
Amen! Great encouragement and Stephen's points are right on! I used to hate this part of the process, but now it's kind of a fun game. I couldn't agree more, its a RELATIONSHIP! PS-Love the Whiskey Wedge on the shelf
It is for most people. Stephen just published an article with some tips on befriending gatekeepers: www.inc.com/stephen-key/how-to-make-gatekeepers-your-friend.html
Hi Steve I had this idea for many years and i keep listening and learning it easy for me to say it hard to put on paper and hard to trust someone . Tell me something
You’ve honestly given me so much motivation to get my ideas off the ground. I’m a “product developer” at heart and your words of wisdom will bring me to where I wanna be. Thank you!!
Stephen, love your videos. They are now part of my morning breakfast. What is the industry norm regarding licensing your product to multiple companies? If I get a license from a customer in one industry should I not pursue others in the same space? What if they didn't share markets (didn't compete in the same locations)? Also, 'exclusive' in my opinion should have a definitive time limit or geographical boundary. Is that the wrong way of thinking about licensing a product with multiple companies? If I had a license with a company what would their view be if I sold the product online (for the same or higher price)-my website or Amazon? If those questions are answered in your book which one? I'll get it today. Thanks for sharing your knowledge. Your videos are addictive. jbc
Thanks for your valuable tips! Been following the steps in the book and your videos, and now have a Sell Sheet, promo video, PPA, and a prototype, so currently I'm contacting companies. I would say that your idea of contacting sales/marketing people seems logical, but somehow I keep getting redirected immediately to the product development department, so might be better in some industries to go for that person directly.
Cheers Stephen I “needed” to hear this 🤓 can you recommend me a couple of books to get on audible that focuses on cold calling techniques. One of yours and one from Someone else 🙏🏽
We'll do you one better! Here's our free ebook on getting in: www.inventright.com/getting-in If you haven't read it, Stephen's book "One Simple Idea" is a must-read for inventors: amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676
Thank you, Stephen, this is valuable information! I filed for a PPA electronically. Can I start to pitch the idea or shall I wait for a mail filing receipt from USPTO?
Great vid, 'geeft de burger moed' as we say in the Netherlands, 1 question though, I came to actually like cold calling, but isn't it better to get introduced through your network?
Hi Laurens. Good question. On a practical level, that doesn't make sense. You can't possibly get introduced to all of the companies you may want to license an idea to. But you can certainly contact them like a professional. If you have a connection, that may help you get through the door more quickly. But most companies these days have embraced open innovation and are actively looking for new ideas, so it isn't difficult to get in touch with the right person. Good luck!
Can you please correct me. Is it "SELL SHEET" or "SALES SHEET"? I've seen it written as SALES SHEET on a few submission websites but I'm following your every step. (blushing with embarrassment)
We call it a sell sheet. We're guessing they're referring to the same thing! Never hurts to confirm with a potential license though. Thank you for watching Charlotte.
Do you have examples of what to say or write in an email as far as, how to ask if they would consider licensing my idea? Or do I just say something like, ‘Please review my product (patent pending) for licensing consideration”? Or “licensing potential”? Thanks so much for your videos!
Great question. Here's an article I wrote for entrepreneur.com www.entrepreneur.com/article/283810 You can sign up for our newsletter at inventright.com, there's a free e-book. It's call" Getting In". It's a wonderful resource. Thanks for watching!
Stephen Key Great article! I immediately went onto linkedin and found the contact info for the Sr. Director of merchandising for the company I wish to have my product licensed to. Its great to see that his background is perfect understanding my product. Excellent advice. Thank you!
Check out this video from inventRight coach Amy Jo Brogan "When Multiple Companies Want to License Your Product Idea": czcams.com/video/6JC8t3hISyQ/video.html
do I have to wait for my physical provisional patent… or can I start calling and emailing prospects right after I pay and have a receipt from my patent agency?
@@inventRight LOL I did a two year MBA and did plenty of homework. The guy I spoke to was more interested in my education than talking about the potential. He had no clue. Both companies were poorly run (you know who they are) and full of narcissists. Why am I hiding?
@@inventRight Hah, I talk about that a lot. I'm literally reflecting on someone I met not an hour ago. Dysfunctional children that are obviously employed by family. I ran into another contractor for Bell Canada that did something to my property, and they were told Bell gave them the go-ahead because they contacted me. My retort is that there's room for improvement. That's how companies compete.
Iv been told I need a patten to sell my idea .. I don’t know who to trust ... who just want my money and willing to want to help ..me...with the direction I want to go ...
Hi Danny. You do not need a patent to sell your idea. Our cofounder Stephen Key wrote a book specifically on this topic: www.amazon.com/Sell-Your-Ideas-Without-Patent/dp/1507885733/. There are different strategies for getting to market. We recommend doing a lot of research to get to speed first as you determine which route is best for you and your goals. Here's a little reading on the importance of good insight: www.inc.com/stephen-key/why-knowledge-and-not-money-is-what-you-really-need-to-bring-an-idea-to-market.html
You might be able to negotiate that into your contract, but the big benefit of licensing is not having to do the manufacturing and selling of your product yourself.
A great patent attorney once told me..just write your idea down on paper...notarize it and certify mail it to yourself and DO NOT OPEN the letter...keep it sealed till you have the money to patent it. Or for securing ownership of your idea...this way you have an early date on the idea and all its info on it which you alone came up with it all...this way no one can steal your master mind idea. Its sign sealed and delivered to its original owner/ inventor. I have like 10 ideas that are sealed. Only a patent judge will open it as proof and evidence your idea is truly yours...So Notarize it and Certify mail it to yourself...but again DO NOT OPEN IT! ....thats strictly for a patent judge to open in front of you and others in court. (This is called an affidavit of truth.)...PAPER IS VERY POWERFUL!
Which tips do you have for social program with big companies? This would involve all community, marketing, and profit. Should I open a NGO or try to contact some companies? Thanks anyway.
Some great advice, thanks! For those companies that have a Product Submission Page (usually, a fillable pdf), do you recommend calling before/after/not?
Thanks for watching! Check out Stephen's article "How to Get the Most Out of Submitting a Product Idea Online": www.inc.com/stephen-key/how-to-get-the-most-out-of-submitting-a-product-idea-online.html
The hardest thing is to find the appropriate contact information. Big companies are constantly accosted by people trying to sell them something. They hide that contact information.
Question I haven't seen answered anywhere. How do you find companies when your product rests between market spaces because no one has created such a product before....i.e. The product fits one type of company most strongly, but it isn't something they are tooled for or a material they use so quite reasonably they would have to make a big leap...big left turn to embrace an untested product.....the market that is tooled for your product and who use the material....it isn't their market ....a big right turn to undertake the product. PPA done, graphics and marketing sheet done, technical drawings and manufacturing quote underway, lots of contacts with marketing sheet shared, and not much spent at this point. Is the only option moving to production?
I am at your stage with a software product that takes $500K to get going, so who is the market for my product? Here's what I'm doing and getting traction. I put together a Kickstarter campaign and made a video. I sent it to 20 of my random connections on LinkedIn. I got 5 responses, but I know these guys, right? Nope, never had chat one. I have the product that they have been wanting. END: one guy called and promised the moon. I sent the NDA in order to give details beyond the non-provisional that I filed with details of the conversation, as an attorney instructed. I'll never hear from him again, but it was the conversation that will light up a better video. That and the other responses that actually have contributed to the betterment of the video. That is all I requested. Watch and judge me. Be that thing that types. All people were great. I'm moving on...
@@bobglasgow4216 Thank you for sharing your experience with us. Can you plese elaborate on this non-provitionl that you filed with details of the conversation? What is this exactly? Thank you in advance!
Andrew, great video, thank you very much! Gotta be honest, as an audio guy, the super loud SWALLOW is absolutely killing me. Try moving the lav, using a super/hyper cardioid or shotgun mic, backing off on the compression, or editing them out, or using an expander before audio hits the compressor. Otherwise excellent video as always! Aloha!
Hi Mr. Key! I have read your book "Sell Your Ideas With or Without A Patent" and I have just watched your video "Cold Calling is Dead. Use LinkedIn to License Your Product", which kind of contradicts with the material presented in the book as well as the material in this video. Could you please elaborate or even make a video on how should one's LinkedIn profile look like, especially if you have no prior experience in the licensing business? I am aware that you, as a product developer, are as good to someone as the product you are offering, but still I would love to put something down in my profile to gain a company's trust and increase my chances to be considered for a conversation.
Hi Edvis. Don't overthink it. Remember, it's all about your idea, not who you are or what you've accomplished. Your profile should be professional, meaning you have an attractive headshot, readable copy, and so on. What you write in your message has more importance. What did you find to be contradictory? There are multiple ways of getting in; the goal is the same, to get the right person to review your sell sheet/video: czcams.com/video/toYc2ckRlEY/video.html
Please check out our free ebook "Getting In" for our tactics on reaching the right people at the right companies to share your sell sheet with: www.inventright.com/getting-in
Pamela, some exciting news: We have created a database where inventors can access 500+ companies looking for ideas, for free. It goes live later today! Check it out: inventleaders.org
Really enjoying your videos. But for this current topic, do you recommend calling companies that already have online submission processes? Is it annoying to call them if they have such a process set up?
Hi Misfit Pets. If they have an online submission process that they want you to use, yes you should use that. But you shouldn't just submit your idea into a black hole either. This article Stephen wrote "How to Get the Most Out of Submitting a Product Idea Online" describes how you can use even an online form to begin developing your relationship with the company. Thanks for watching! www.inc.com/stephen-key/how-to-get-the-most-out-of-submitting-a-product-idea-online.html
I just filed my first patent today :)
Justin Fay how and where did you do that?
Thoughts to paper , I used them , your going to pay more , it’s worth it , lot of options and prices before hand,
How to get a patent
Ustpo. United states patent office
Congrats man this is a HUGE life accomplishment!
That advice of not selling just build relationships is so priceless. Thank you!
You have given me hope. I’ve been creating only on paper for over 10 yrs. I’m so excited to bring my product to fruition one day....Thank you for the time and effort that you spend trying to help others fulfill their dreams. Your super cool it seems.
Susan, you can do this! If you haven't read Stephen's book "One Simple Idea," it provides an excellent roadmap. It can also be found in many libraries in the US: www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676
So have you found sucess?
ill review them for you
Hi Steve hope all is well! Thank you for your wisdom and knowledge! I recently called the USPTO office to request a Provisional Patent Application which arrived with in 10 days! filled out the forms including the micro entity form which is only $70.00 dollars Crossed my T"s and dotted my I"s and also took pictures of my innovation idea which I installed at my own home and a brief description of what it was and mailed it off along with The $70.00 check made out to the Commissioner for patents! I received The Granted License From The USPTO office ! Thank you again Steve your awesome God Bless you!
Congratulations!
0:17. I had to check the release date on this video lol. Covid-19
Ha, me too...
2017-2018 flu season did have the highest death count from flu in 40 years. So, he wasn't far off.
Same
I was just gonna make a comment on this. Good eye TanicWhisper06
I'm not the only one XD
I love these videos, I am learning so much. Thank you guys for all your hard work. You are truly helping people.
im am now obsessed with watching these videos and learning as much as i can. these videos make me feel/realize that i can ACTUALLY DO THIS for my airsoft target idea!!!! I made a sell sheet (drawing) of the target and i think it looks pretty good for my first try! thanks again sooooo much guys!!!!
Go for it keep us updated. If you run into a wall we can help you.
@@inventRight thank you!!!
This aged well. Especially in the first 20 seconds.
Thanks for watching!
@@inventRight Hey no problem mate! Frankly, I should say thanks for posting this. I'm right in the middle of making an invention to save the people from wave 2 of COVID-19, so this came at the right time.
Ditto
@@Morgothlord47 wave 2??? We are on wave 4 bro.. somehow...
@@SKRIBBLESHEET bro, do you even know how to read how old posts are?
I come back to this video over and over cause it never hurts to reminds me how to stay on track with the standard methods of approach.
Same to me
Love this guy! Thank you for these awesome videos. You're helping me build my startup everyday.
Thank Sir,
I have invented something. But before I go to patent office I wanted to check it's ups and down.
While watching your videos I always feel like you are reading my mind, my ideas, my steps. But at the end i get satisfied that yes I was right in my planning.
Now i am feeling that I can read your mind, for example in between when you say easy easy or cool cool, take it easy... means there are of things running in your mind , you have multiple angles to explain that point, but it's difficult to Explain every angle and you want your viewers to to be smart, list everything, make a flow chart of yes or no, don't beleive everyone and don't disbelieve everything.
Thanks for your valuable information.
It is really helpfull.
In my case filed for provisional patent,Called the company, sent them the provisional patent ,Called,and called and called,Never heard from them again for the whole year they were holding out to see if I was going to go for a full patent because They were going to steal the idea ,”some Companies suck” so I went out and open my own company and sell my own product,
I did buy your book I read three pages and just wasn’t into the licensing, good book though.I used thoughts to paper excellent company but you’re going to pay , but it’s worth it....
Thank you for sharing about your experience. Only three pages?
inventRightTV I’m getting there , I’m getting there , I hope to finish book in 2019 , life is crazy, always something to do .......
How’d you go about starting your store and selling? Did you go thru a company like amazon or did you fulfill all orders on your own?
Thanks for this entire series, it's been very eye opening. I try to think this way when approaching anyone for any business thing - avoid mentioning myself aside from a very brief sentence introduction, then speak of how I can help them/solve their problem/benefit their project. If those don't come easily it's probably an indication I should leave them alone. If you can make someone money or make their job easier and mean it in an honest way then they will generally want to hear from you. If it's someone with whom you don't have a relationship, then it should be personal and cost you more time to prepare than for them to consume so you have skin in the game.
Thank you for sharing your hard-won insights and perspective with us here!
I thought that I knew "it ALL". Had I only known of a provisional patent, I would have changed all your lives. Not with just one or two, but 18 of my 37 inventions. Each invention I put all of my savings into but now is the time to create, file and sell the products or licencing. Thanks Steve.
Stephen, thank you for all your videos, that teach us how to become a great inventor. We're learning the process of selling our product. Grateful for your guidance. Many thanks. Maggie Sierra
I appreciate that you guys reply quickly and honestly. My question: if you cold call and speak about your product, are you at risk if you don't have (at least) a provisional patent?
The only honest answer to that is "You could be." It depends on what you say, when, and how. That's the art of licensing. Benefits open doors. When it comes to protecting your ownership, there are no black or white answers. Think through your strategy and how it all fits together. The short answer: Don't give away too much on the phone.
This guy is awesome. I'm taking this knowledge all in. Thank you Sir!
Thank you for watching!
This is a great video. I like that you share your mistakes haha really grateful for that and "Don’t pitch your idea, just tell them the benefits" i will do this from now on.
super advise.
So right.
All about the relationships. starting from the "gate keeper" :)
Thank you for sharing your practical wisdom, Stephen!
Eylon,thanks for watching!
I did many cold calls in few industries.
Your observations on the right approach and strategy are just right.
It took me years to learn these skills.
And it is still refreshing to hear it again. (Everyone should :)
As always...great stuff. Only thing i add to these tips is ( and i kno it may b just semantics...but ) instead of me thinking of it as a " cold call " I tell myself they're " hot knocks."
Aaaaaaaamazing. Might have to steal that. Thank you for watching!
Its really great experience in watching you and your past life experience. we all are kids we do mistake and we grow up . And one day we all become great like you. It will be my best dream to meet you once in this life.
Thank you for the kind words Chandra.
So do you submit one idea to several companies? Or do you wait for a response from one before you submit to another? I really love your videos. Thank you for all the information.
I'm in the middle of trying to license a product now, and I would definitely recommend to submit to many companies at once, as it takes them forever to get back to you sometimes.
This is so helpful. Thankyou! Product developer sounds so much better than an inventor, alot less cringy and more professional.
I love his energy, very passionate.
thank you for these inspiring and educational videos im getting your book before i do the PPA
Amen! Great encouragement and Stephen's points are right on! I used to hate this part of the process, but now it's kind of a fun game. I couldn't agree more, its a RELATIONSHIP!
PS-Love the Whiskey Wedge on the shelf
Hello Ryan, absolutely love your Whiskey Wedge product, simple and smart.Congratulations! design! www.inventright.com/new-testimonials
My OCD has me obsessed with going over there and evenly spacing those plastic bottles on the shelf. Lol. Good advice here.
Your a super smart guy and I'm getting smarter with every word ....thank you Steven you are truly my key.
Great video. This is the biggest hurdle for me. I find that cold emails tend not to work.
It is for most people. Stephen just published an article with some tips on befriending gatekeepers: www.inc.com/stephen-key/how-to-make-gatekeepers-your-friend.html
This is a great video. I like that you share your mistakes lol thank you.
Thank you Sean!
Hi Steve
I had this idea for many years and i keep listening and learning it easy for me to say it hard to put on paper and hard to trust someone .
Tell me something
Great info! Thanks Steve!
Thank you for watching and commenting. Please subscribe if you haven’t already!
You’ve honestly given me so much motivation to get my ideas off the ground. I’m a “product developer” at heart and your words of wisdom will bring me to where I wanna be. Thank you!!
No, thank YOU! What an amazing comment. You can do this, if you put in the work and refuse to give up!
Stephen, love your videos. They are now part of my morning breakfast.
What is the industry norm regarding licensing your product to multiple companies?
If I get a license from a customer in one industry should I not pursue others in the same space?
What if they didn't share markets (didn't compete in the same locations)?
Also, 'exclusive' in my opinion should have a definitive time limit or geographical boundary. Is that the wrong way of thinking about licensing a product with multiple companies?
If I had a license with a company what would their view be if I sold the product online (for the same or higher price)-my website or Amazon?
If those questions are answered in your book which one? I'll get it today.
Thanks for sharing your knowledge. Your videos are addictive.
jbc
Thank you for your time. Good information
so glad I found your channel
Thanks for your valuable tips! Been following the steps in the book and your videos, and now have a Sell Sheet, promo video, PPA, and a prototype, so currently I'm contacting companies. I would say that your idea of contacting sales/marketing people seems logical, but somehow I keep getting redirected immediately to the product development department, so might be better in some industries to go for that person directly.
Sounds perfect!
This is been very helpful. Thank you for the video's the books and information you convey. Thank you very much.
You're welcome Steve! If you're looking for more help, check out what we do: www.inventright.com/what-we-offer
Great idea's this goes for anything.
All depends on the company and the product.
Thanks for watching!
Thanks for sharing this techniques
You’re very welcome!
I can’t thank you enough for this information
Thank you for watching! If you consider subscribing to our channel or telling a friend, that will really help us grow.
Thank you, that was very useful information.
Thank you for watching!
Cheers Stephen I “needed” to hear this 🤓 can you recommend me a couple of books to get on audible that focuses on cold calling techniques. One of yours and one from
Someone else 🙏🏽
We'll do you one better! Here's our free ebook on getting in: www.inventright.com/getting-in
If you haven't read it, Stephen's book "One Simple Idea" is a must-read for inventors: amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676
I'm at my best at 3:00 a.m., but I don't think anyone will want calls then.
Thank you for all all these great tips. 🙏
Thank you sir!
Thank you!
Thank you, Stephen, this is valuable information! I filed for a PPA electronically. Can I start to pitch the idea or shall I wait for a mail filing receipt from USPTO?
Would love to know...
💖😎💖 Great Video, Thanks so much for sharing!
Your videos are so helpful thank you
Glad you like them!
Great vid, 'geeft de burger moed' as we say in the Netherlands, 1 question though, I came to actually like cold calling, but isn't it better to get introduced through your network?
Hi Laurens. Good question. On a practical level, that doesn't make sense. You can't possibly get introduced to all of the companies you may want to license an idea to. But you can certainly contact them like a professional. If you have a connection, that may help you get through the door more quickly. But most companies these days have embraced open innovation and are actively looking for new ideas, so it isn't difficult to get in touch with the right person. Good luck!
Love these videos!
Can you please correct me. Is it "SELL SHEET" or "SALES SHEET"? I've seen it written as SALES SHEET on a few submission websites but I'm following your every step. (blushing with embarrassment)
We call it a sell sheet. We're guessing they're referring to the same thing! Never hurts to confirm with a potential license though. Thank you for watching Charlotte.
Do you have examples of what to say or write in an email as far as, how to ask if they would consider licensing my idea?
Or do I just say something like, ‘Please review my product (patent pending) for licensing consideration”? Or “licensing potential”?
Thanks so much for your videos!
Great question. Here's an article I wrote for entrepreneur.com www.entrepreneur.com/article/283810 You can sign up for our newsletter at inventright.com, there's a free e-book. It's call" Getting In". It's a wonderful resource. Thanks for watching!
Stephen Key
Great article! I immediately went onto linkedin and found the contact info for the Sr. Director of merchandising for the company I wish to have my product licensed to. Its great to see that his background is perfect understanding my product.
Excellent advice. Thank you!
I'm glad we could help!
How do i find contacts for decision makers?Thank you for all the information
We have a database of thousands of companies looking for ideas.
Quick question! Lol. What do you do if you get multiple yes’s ? Implying that 2 or more different companies love your product.
Check out this video from inventRight coach Amy Jo Brogan "When Multiple Companies Want to License Your Product Idea": czcams.com/video/6JC8t3hISyQ/video.html
do I have to wait for my physical provisional patent… or can I start calling and emailing prospects right after I pay and have a receipt from my patent agency?
How do I do a sales sheet if I never sold my product?
@@user-zz4co7ph4u keep watching the videos. We talk a lot about this.
favorite video
I had two ideas taken from me by companies you know quite well.
That’s very unfortunate. Always do your homework. Type in the company’s name and lawsuits and complaints. You cannot hide any longer.
-Stephen
@@inventRight LOL I did a two year MBA and did plenty of homework. The guy I spoke to was more interested in my education than talking about the potential. He had no clue. Both companies were poorly run (you know who they are) and full of narcissists. Why am I hiding?
Sorry for the miscommunication. It’s not you that’s hiding. Companies that are not performing well can no longer hide their poor performance.
-Stephen
@@inventRight Hah, I talk about that a lot. I'm literally reflecting on someone I met not an hour ago. Dysfunctional children that are obviously employed by family. I ran into another contractor for Bell Canada that did something to my property, and they were told Bell gave them the go-ahead because they contacted me. My retort is that there's room for improvement. That's how companies compete.
Thank you!
Thank you
Selling his book. I have literally zero income.
What percent do companies pay you and how often do they pay you
Thank you so much
Iv been told I need a patten to sell my idea .. I don’t know who to trust ... who just want my money and willing to want to help ..me...with the direction I want to go ...
Hi Danny. You do not need a patent to sell your idea. Our cofounder Stephen Key wrote a book specifically on this topic: www.amazon.com/Sell-Your-Ideas-Without-Patent/dp/1507885733/. There are different strategies for getting to market. We recommend doing a lot of research to get to speed first as you determine which route is best for you and your goals. Here's a little reading on the importance of good insight: www.inc.com/stephen-key/why-knowledge-and-not-money-is-what-you-really-need-to-bring-an-idea-to-market.html
So what happens when you give out your sales sheet and three months later they haven't responded? Do you follow up or move on?
Can you license an idea and then after you get eneugh money you start manufacturing and selling the product yourself?
You might be able to negotiate that into your contract, but the big benefit of licensing is not having to do the manufacturing and selling of your product yourself.
inventRightTV ok thanks a lot! and yeah makes sense
I so love your videos!
Thanks for watching!
Great content Steve!
great information.. thank you
Thanks for watching!
I love love your advice... can't wait to talk to you
Great Video... Advice from the Guru @Inventitious #NeverStopInventing #LicensingMadeSimple lol @ 10:58 Mark
A great patent attorney once told me..just write your idea down on paper...notarize it and certify mail it to yourself and DO NOT OPEN the letter...keep it sealed till you have the money to patent it. Or for securing ownership of your idea...this way you have an early date on the idea and all its info on it which you alone came up with it all...this way no one can steal your master mind idea. Its sign sealed and delivered to its original owner/ inventor.
I have like 10 ideas that are sealed. Only a patent judge will open it as proof and evidence your idea is truly yours...So Notarize it and Certify mail it to yourself...but again DO NOT OPEN IT! ....thats strictly for a patent judge to open in front of you and others in court.
(This is called an affidavit of truth.)...PAPER IS VERY POWERFUL!
This is not a good strategy. You can file an inexpensive PPA to secure an early filing date.
Hi Stephen, Great advice! What if the VP/General Counsel for the company contacts you? Is this common? Thanks so much!
Remember receptionist name. Or write it down
You are always selling them, you have to sell the prospect to talk with you about your idea
Which tips do you have for social program with big companies? This would involve all community, marketing, and profit. Should I open a NGO or try to contact some companies? Thanks anyway.
Some great advice, thanks! For those companies that have a Product Submission Page (usually, a fillable pdf), do you recommend calling before/after/not?
Thanks for watching! Check out Stephen's article "How to Get the Most Out of Submitting a Product Idea Online": www.inc.com/stephen-key/how-to-get-the-most-out-of-submitting-a-product-idea-online.html
Once a company is interested in my idea what is the best deal to get ?
what do you do when you know you have the only one in the world and can't get a company to talk to you?
Would you suggest I use John rizvi
What if the company you want to license to is international? Do you need to file a PCT? Or do you only deal with US-based companies?
Great stuff.
The hardest thing is to find the appropriate contact information. Big companies are constantly accosted by people trying to sell them something. They hide that contact information.
Have you tried using LinkedIn? www.inventright.com/other-services/smart-pitch-2
Always file a NDA before disclosing your invention even to a lawyer.
Rabies Babies this was a no-brainer but wouldn’t come to mind. Thanks ☝🏾☝🏾
Question I haven't seen answered anywhere. How do you find companies when your product rests between market spaces because no one has created such a product before....i.e. The product fits one type of company most strongly, but it isn't something they are tooled for or a material they use so quite reasonably they would have to make a big leap...big left turn to embrace an untested product.....the market that is tooled for your product and who use the material....it isn't their market ....a big right turn to undertake the product. PPA done, graphics and marketing sheet done, technical drawings and manufacturing quote underway, lots of contacts with marketing sheet shared, and not much spent at this point. Is the only option moving to production?
I am at your stage with a software product that takes $500K to get going, so who is the market for my product? Here's what I'm doing and getting traction. I put together a Kickstarter campaign and made a video. I sent it to 20 of my random connections on LinkedIn. I got 5 responses, but I know these guys, right? Nope, never had chat one. I have the product that they have been wanting. END: one guy called and promised the moon. I sent the NDA in order to give details beyond the non-provisional that I filed with details of the conversation, as an attorney instructed. I'll never hear from him again, but it was the conversation that will light up a better video. That and the other responses that actually have contributed to the betterment of the video. That is all I requested. Watch and judge me. Be that thing that types. All people were great. I'm moving on...
@@bobglasgow4216 Thank you for sharing your experience with us. Can you plese elaborate on this non-provitionl that you filed with details of the conversation? What is this exactly? Thank you in advance!
Could maybe approach with what does your need? .. I've something mothers want and babies/kids need .. 😂
Andrew, great video, thank you very much! Gotta be honest, as an audio guy, the super loud SWALLOW is absolutely killing me. Try moving the lav, using a super/hyper cardioid or shotgun mic, backing off on the compression, or editing them out, or using an expander before audio hits the compressor. Otherwise excellent video as always! Aloha!
Hi Mr. Key! I have read your book "Sell Your Ideas With or Without A Patent" and I have just watched your video "Cold Calling is Dead. Use LinkedIn to License Your Product", which kind of contradicts with the material presented in the book as well as the material in this video. Could you please elaborate or even make a video on how should one's LinkedIn profile look like, especially if you have no prior experience in the licensing business? I am aware that you, as a product developer, are as good to someone as the product you are offering, but still I would love to put something down in my profile to gain a company's trust and increase my chances to be considered for a conversation.
Hi Edvis. Don't overthink it. Remember, it's all about your idea, not who you are or what you've accomplished. Your profile should be professional, meaning you have an attractive headshot, readable copy, and so on. What you write in your message has more importance. What did you find to be contradictory? There are multiple ways of getting in; the goal is the same, to get the right person to review your sell sheet/video: czcams.com/video/toYc2ckRlEY/video.html
Is it better to call companies or would it be better to do it through email?
Thank-you!
Just filed ppa now I have to wait like 3 weeks for filing receipt, what should i do in the meantime, start calling or just wait?
Start calling companies!
go golfing
Thank you.
What’s the sales sheet ?
Please watch this video.
czcams.com/video/Dych61rZ1Hc/video.html
Does this mean we send companies the sell sheets without an NDA?
OK, How do we find their numbers?
Please check out our free ebook "Getting In" for our tactics on reaching the right people at the right companies to share your sell sheet with: www.inventright.com/getting-in
Pamela, some exciting news: We have created a database where inventors can access 500+ companies looking for ideas, for free. It goes live later today! Check it out: inventleaders.org
Really enjoying your videos. But for this current topic, do you recommend calling companies that already have online submission processes? Is it annoying to call them if they have such a process set up?
Hi Misfit Pets. If they have an online submission process that they want you to use, yes you should use that. But you shouldn't just submit your idea into a black hole either. This article Stephen wrote "How to Get the Most Out of Submitting a Product Idea Online" describes how you can use even an online form to begin developing your relationship with the company. Thanks for watching!
www.inc.com/stephen-key/how-to-get-the-most-out-of-submitting-a-product-idea-online.html
Hi Steven, you're the best!! should I tell them about my idea when they have signed no NDA, how do I protect myself??
TybuszynskiMusic Read his book! And watch more videos, he talks about it all. Don’t do anything till you hear from him !
So what are some good companies to call? Thank you .
Just do your homework.
What if the company still your or my idea if I tell them about my idea?
Here is some advice on preventing your idea from being stolen: www.entrepreneur.com/article/324629