How avoid costly inventor mistakes!
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- čas přidán 21. 03. 2023
- Don’t submit through portals (submit your idea) most of the time they just don’t work. Build relationships with companies.
Learn how to make money from your ideas.
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Hi, this is Stephen Key and Andrew Krauss. We are here to help you make money from your ideas. We started our company inventRight over two decades ago to teach people how to license (aka rent) their ideas to companies in exchange for royalties.
This process is called “product licensing.”
On our channel, we show you exactly how you to take an idea and license it to companies in exchange for passive income.
Today, you do not have to start a business to make money from an idea.
With product licensing, you don’t have to write a business plan, raise money, manufacture, market, sell, or distribute any longer.
Visit our website inventRight.com for more information.
If you have a product idea and need some help, please contact us at:
Phone: +1 (650) 793-1477
Toll Free: +1 (800) 701-7993
Email: support@inventright.com
Email us:
stephen@inventright.com
andrew@inventright.com
Learn how to start a business, how to become an entrepreneur, how to protect intellectual property, how to patent an invention, how to stop people from stealing your ideas, how to prototype an idea, how to contact companies looking for ideas, how to design a product, how to make a sell sheet, how to make a promo video, how to negotiate a licensing agreement, how to get a higher royalty rate, how to do market research, and how to work with inventRight.
Stephen Key and Andrew Krauss are the cofounders of inventRight, a coaching program for entrepreneurs that has helped people from more than 65 countries license their ideas for new products. They are also the cofounders of Inventors Groups of America, an organization that hosts a free, popular monthly educational meeting for inventors online. They have more than 20 years of experience guiding people to become successful entrepreneurs.
New videos every week, including interviews with successful entrepreneurs. Learn from the best! Pitch us your story to be featured on inventRightTV: youtube@inventright.com.
Get your own inventing coach by contacting inventRight at #1-800-701-7993 or by visiting www.inventright.com/contact.
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.
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Great video. If you could make one showing examples of work arounds on a thing to illustrate the concept that would be fantastic !
Thanks Steve for your vlog
Another great job by Stephen Key- consistently providing great nuggets of advice. Great man great family. Great program. Tom T
Glad you enjoyed it
Nothing better than a Stephen Key rant!!
Thank you so much Ivy!
Hi
Design, prototype, patent, trademark, market, manufacture, sales, distribution, repeat!
This is this process I work with, still learning though, but so rewarding from hitting milestones.
Aiming to sell the company in the near future.
If I can, you can!
Thank you.
Amazing , very professional!!!👍💪
Thank you!
Hello, mistake are great, and you learn from them. Talk is cheap, but thanks for your input, I wish I would have watched your videos before I lost a great idea with General motors, they filed bankruptcy. You don't need a storage unit to burn Hydrogen gas. Thanks keep up the work.! I was boomed out but executory contract was released. So,file your PP!
Glad it was helpful!
Dang i missed you live !!
Thanks Stephen - a very valuable hour.
Thank you so much for watching!
Thank you Stephen 💫
Thank you Donna I hope you’re doing well!
Stephen and Andrew - You guy's ask for a thumbs up while doing a show - BUT --- ask the viewers they can add a thumbs up in the REPLAY
I don’t think so.
Love your truth and passion
Thank you very much!
Question about adding things to the patented idea makes it still not sellable because the patent owner of the original patent will claim that we only added to his invention.
For example, a toothbrush with a rotating head was patented by Braun, Your guest a long time ago said he added static bristles next to the rotating head and made millions of dollars, but... the rotating head was still there, I don't get it.
In other words, let's imagine that the Spatula end is patented by company X.
You say: just add a bottle opener to the other end.
Sure it's a different product now but it still has the spatula end, so it can't be sold by your potential licensee - they won't go for it.
I have tons of ideas like that, where I can add something new to the patented part, but the patented part will still be there in the final product.
So my potential licensee will be worried about licensing my idea.
Anyone can clarify this, please?
(I understand the this will not be a legal advice)
Thanks
This is a complicated question. It all depends if a patent is still valid. It all depends if you are using part of the patented product. I’m sorry I cannot give you a straight answer. It’s too complicated. I would consult with a patent attorney.
Thank you 🎉
Thank you for watching!
Thank you
Thank you Katie!
2:48 start.
Morning Steve 🙏 thanks again ..
still moving along my inventor journey to get closer to the with a 'developing economy' PP & patent ..
My claim 1 etc is the 'make or break' as my other claims while still good leave the door a bit too open for others to swoop in .. so we will see 😀🤔
amazingly learning lots, love your videos which i set on 1.5 x playback speed and always get a few good ideas from watching.
also discovering some cost effective professional paths that maybe one day i will get to share with you and your clients.
I can't tell u how much the licensing phase excites me and have u guys ear marked as my mentor when the chess pieces finally are in place .
Have a great week .. hi to Andrew
Thank you so much Pete!
Amen!
Hi everyone and good luck
Even a year later, this is Great information... yes, I do like his rants too 😂
Thank you so much for commenting. Please subscribe if you haven’t already.
how is the cleaning industry to licence to
Who doesn’t want a good idea?
I really appreciate you
Thank you so much for watching! Please subscribe if you haven’t already.
I have one thing I really want to see available, but it just can't quite be manufactured... Stephen, I want a James too!
James is the best! We’ve been working together for over 20 years!
@@inventRight Is he the business partner you talk about from time to time?
No, James is not my business partner. He’s been working with me for many many years. He’s a good friend.
Yes I can hear you
Always great to listen to you guys, just wanted to know when writing our own PPA do we need to write down our claims as well as seen on all the google search patents and if im from Australia which I am how do we show the USPTO we earn under 200k if we are wanting to file under a MIcro Entity? Thanks again for all the time you guys put in to educating us.
I do not write any claims in my provisional patent application. I am not a patent attorney, and I’m not giving legal advice.
I have a really good idea for the automotive industry I filed micro entity provisional application. But I don't know where to go from here. I would like to license my idea now because it is a really good idea in fact I believe it will be an asset in every car.
Wonderful
What happens when they approved your idea but then text back the price of the process that you thought they already did when you submitted the idea and can't afford it then whoops a year and a half later you see your idea lol
I’m not quite sure. I know what you mean.
Im here
Hi I'm here
Hi Steven, from Durban, South Africa. (Sam, lady, not guy. Lol.)
Thank you for watching!
im here
Surprised you didn't use your catch phrase, when talking ('ranting') about work-arounds in patent strategy:"just steal it from yourself" . . . 😃😉
Funny:)
Hello Stephen - If I bring a new item to a company and it will help them save on insurance ( slip/ fall ) Can I have them guarantee a 3+ - year contract? So I am the only one they can buy from before the copy cats try to move in?
Of course.
That how I'm here now
Hi Steven I'm Katie good to be here. I'm a new student CTU online for business management and human resources. I also am an artist. My Question or I'm asking your advice on my lack of confidence in social media networking groups.
Is for sale by inventor a good company?
Please do your homework. Type in complaints and lawsuits in Google.
I submitted my idea to a company through a portal at 4:00 o'clock in the morning. At 3:00 o'clock the same day I got a phone call from the product development manager. He said he researched the item for several hours on the Internet and found nothing like it. He loved my idea gave me his personal cell phone number and it's been in contact with me constantly. Within three days we had a patent search done and I came through with needing zero exceptions. It has not been a week yet and we already have a provisional patent application started. My point being it's not the portal it's the product.
beautiful
How are things going now
I was misled on the patent search. Someone had that patent that expired 20 years ago. They tried to get me to go through with a patent without revealing that information I found out that information on my own before I spent $5,500 on a patent attorney. Still no one has developed my full idea yet . Just a portion of it was patented . I am approaching companies that are doing something similar that are missing the full boat.
Hi
This is Katie
I'm a newbie.
First time
Great!
Sylvester
Thanks for watching. Keep Inventing! - 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/ )