How to License Your Product Ideas Without a Patent
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- Опубліковано 11 лип 2024
- Learn how to make money from your ideas.
www.amazon.com/Sell-Your-Idea...
A patent is not required to license a simple product idea. Stephen Key and Andrew Krauss, cofounders of inventRight, have developed a strategy for licensing ideas without a patent. Speed to market is crucial! You can't afford to wait for a patent to issue to start making moves. Learn how 99% of their students license ideas without a patent.
Want to learn how to license your ideas without a patent? Stephen's book Sell Your Ideas With or Without a Patent explains exactly how to do that. Pick up a copy here: amzn.to/1T1dOU2.
New to licensing? Read Stephen's bestselling book One Simple Idea: Turn Your Dreams Into a Licensing Goldmine While Letting Others Do the Work (amzn.to/1LGotjB)
inventRight is a one-on-one coaching program that helps people license their ideas founded by Stephen Key and Andrew Krauss in 2001. Visit www.inventright.com 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 they can help you license your ideas.
Stephen's book "Sell Your Ideas Without a Patent" will save you thousands of dollars: www.amazon.com/Sell-Your-Ideas-Without-Patent/dp/1507885733/
@Milton Lemons Stephen's award-winning book "One Simple Idea" has been translated into 6 other languages and has more than 500 5-star reviews on Amazon. Incredible! You can purchase it here: www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676
actually i have too much ideas that so simple but it can earn a lot of money... example... honey dropper..
dropper plus honey inside for babies this is brilliant idea
@@chi-net0027 good idea
@Milton Lemons Like how?
@@chi-net0027 I love the way your brain woks but remember children under 2 shouldn't eat honey I believe. Stay Ceative and encouaged!
Very good video (with intelligent clickbait title.) Pragmatic 3-tiered "win/win" royalty strategy: File provisional patent. While status is patent pending ask 5%, if utility patent is granted 7%, if patent not allowed 1%. Propose that agreement includes improvements. Use additional follow-up provisional patents to maintain pending status. Flexible reasonable approach.
Thanks for commenting!
Steven I just love your enthusiasm for this topic, I watch your video when I'm feeling frustrated and lost. Coach of the year!
Thank you!
I've had an idea for quite some time now and have always been afraid or too shy to even begin the process or tell friends about it. After watching your videos I am much more informed and confident in beginning the journey. Thank you both.
Hello Cesar!
We are so happy to see this!
Thank you for watching!
Remember, God gave you a spirit of power.
Very interesting. Thanks for educating on provisional patent. Very helpful. I'm glad I came here first.
Thanks for posting these, such great info. If you get a chance, could you please give some examples to further illustrate the "big idea vs. small idea" point that you were making? I appreciate all your help.
I've read the book twice - Love keeping up with the videos to stay sharp. These are great - thanks!
Thank you for your support!
inventRightTV whats the name of the book?
This is the most exciting video of yours I’ve seen so far. THANK YOU! It makes me angry how so many people overcomplicate this subject. You guys simplify it! Us inventor-types NEED the approach that you offer. Just bought the book. Excited to absorb it all.
Glad it was helpful!
This was exactly what I was looking for. This video gives me a lot of hope.
Thank you for watching! That's great to hear. We have many, many more resources about how to license an idea without a patent if you are interested. The most comprehensive is "One Simple Idea," Stephen's bestselling book about the 10 steps you need to take to license an idea. It's available in libraries in the United States and on Amazon: www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676. He's also published many videos and articles about this topic. Please let us know how we can help.
@@inventRight need the same done for my residing country India as well, would really appreciate if this can be done!
Hi Franklin, how did it go with your patent or idea?
Thank you gentlemen. 2 thumbs up !!!! Excellent!!
Thanks for watching! If you're new to our channel, you may enjoy checking out Stephen's book "One Simple Idea," which is in many libraries in the U.S. as well as on Amazon: www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676
Thank you for this, I know now what I must do.
Literally 2 people running their mouth about a subject they are educated/experienced in, on the subject I searched up. Thanks inventRighttv and UA-cam for this easy education.
Great video! Thanks for the information.
I have a Harmonica Players Dream holder its the only one in the world.and it was invented 60 years ago by me when i was 13 years old in 1959
My favourite thing about Andrew and stephen is when stephen says something that doesn't sound right to the average listener, Andrew will counter question him so he has to break down what he's saying. If its possible, could you guys do a video on what to do if you get stuck designing a product. Bought your book other day and its a huge thumbs up from me, thanks a lot guys.
This comment was awesome to read, thank you for your support. Yes absolutely, that's a good idea for a video. How are you stuck?
I have a found a great market for a great product. It looks the part, and would work great. My only struggle is, how its going to be manufactured. I've watched how the product is manufactured a 100 times, but find it difficult to add my design in to that process if that makes sense. The process would need adjusting and i think it is possible, but stuck on creating that process. Hope that isn't to confussing. And thank you for your reply.
Write a Provisional and word things as best you can. Make sketches as best you can. If you have a friend or someone close to you, STILL have them sign a Confidentiality Agreement with a general general description of your creation. File your provisional (read the book, "One Simple Idea" for tips on this), then CONTACT companies in that market who will sign the Confidentiality before you discuss your product for the company to license. Get your Provisional Patent, make your Sell Sheet, include the Prov. Patent # on it, have a meeting with the company you are pitching to. Get everything in writing and make a great deal. The book here lists much info. Read it first.
Thank you again. I had an OHHHH moment listening to you again Stephen.
Learning about the PPA from you guys seriously changed the game for me! Such an easy 'step' in the licensing process and it allows you to get in conversations with companies so much faster and start getting product feedback. I actually have been using SmartIP through your site and it's been great so far. Thank you for all the great info and saving me thousands on an IP attorney!
Congratulations on getting in the game! That's big. Thank you for leaving a review of SmartIP.
Thank you for commenting!
-Stephen
This latest video that I have watched of yours blew the doors wide open on an idea that I have that is very time-sensitive
Amazing video again thank you guys
Thank you for this information. How do you access the companies to pitch your ideas
Thank you
I just found this channel and I love you videos guys! I’m from Germany living in Spain, is the content for US citizens only?
Love the attitude great advice
Hey guys, I loved this. Thanks keep up the good work
Thank you! Will do!
This is the first video of yours I've watched. Thank you so much for the great info. I've made the first prototype of my product yesterday and l am now in search of my next step.
I highly recommend picking up "One Simple Idea" it has all the steps you need.
@@stephenkey3137 Yes, I've purchased your book after watching another one of your videos. I'm currently reading it again for the second time. I hope to have enough research done by January to start calling companies.
But the book Patent it yourself by David pressman Nolo press.
@@andre1dre I bought it and am reading it also. Lot of information. This is all completely new and intimidating to me.
andre1dre Hello Andre. Just saw your post here from a year ago and I’m wondering how things are going with you trying to get your product marketed?
That may have been the most important 15 minutes of my life.......I will follow up with you in about a year.....Keep the channel open.....:)
So hows it going????been 1 year
Not going very well lol. They punched him in the face and took his idea cause that's what large companies do to people.
I have to say, with so many videos out there one is always inclined to assume there is a lot of babble and not much real content. This however, when one listens to it all, really does make sense, it's rich in content and has confirmed thoughts I have had and more importantly warned me of critical aspects. If one is looking to patent something, this really is good free advice. Most grateful. In my case especially since I have in fact both scenarios, one small domestic device with a functional prototype already working, (the provisional will do me to get that to market asap) and a second much bigger thing where I need to go to industry along with a heavyweight business angel as I suspect it could be a feature that won't go away for a very long time in one of the biggest industries around. Very good. Many thanks for this most informative video!
I've just ordered the book...
Thank you for your support! Let us know what you think of it.
You're welcome. Thank you for the kind words, they are appreciated.
Do not Stop?
I love watching these!
In EPLaw "improvements" have to have unity of invention with the first patent if they want to keep first application date. The come under the form of "Addition Certificate". If they don't have unity of inventions them they are a new later application
Thank you guys so much for this information. ..mind blowing. ..truly awesome. ...I did thumbs up and did subscribe. ..again tyvm sincerely Luigi
I think I'm going to need to watch this one twice:)
Ok. glad I found this!
You sold me lol buying your book soon as I get home from work!!!! Had this idea for a week or so. I believe it’s a big idea!! I wasn’t even really interested in making products but this idea in my head just can’t be ignored so I’m going for it. Your videos definitely have been very helpful. Can’t wait to read your book!!!!! FYI using my sons channel to type this lol
and just bought it!!!
@@alrkai Thank you.
Hows it going
Update?
Hi, let's say that I have a provisional and I sat with a company to license my invention.
What if the company says it's not interested in my idea and proceeds to make a similar product based on my invention? What is my defense then?
I have the same question
Let them do it, it shows you have a great thing. Create Constructive Reduction to practice, and pictures of process and prototyping.
In addition to Actual . reduction to practice. Buy the Book Patent it Yoursef by Patent Attorney David Pressman intend to sell it even if it is small batches. Use it yourself and your associates.
That's a very good question. I submittes to 2 of the as seen on tv reps interviewed by inventrighttv and have not heard anything - yes or no, and it's working on the 2nd week....I've been robbed before but perhaps it's a little too soon...any comments?
you have the provisional application filing date before them, any disclosure in that application is prior art for them, if you dont give up on that provisional
@@SuzieJackson that's not always the case tho let's be honest the world's not genuine 😂
Finally, finally got signed up and working on my provisional now. Very excited :)
Epic! Congrats on taking action! Glad to hear it. Do you mean SmartIP or our coaching program?
@@inventRight I am in the 6 month Program and using Smart IP . Have your book One Simple Idea and Sell Your Ideas with or without a Patent. I am Beth W. I am waiting to be approved on the facebook group. Will be at the class tonight.
I enjoyed your presentation very much, as it was very informative. I need to learn more as I'm just Now getting started. Ms. Alicia
Very helpful
Thank you very much for this video.I m from India
Great video Stephen!! Fantastic!!
Many thanks!
-Stephen
Great advice thanks
Glad it was helpful!
Hello Stephen AND Andrew, great topic thank you the video. Can you specify for me which book Stephen is referring to at the end there. Thanks.
Hello Hector! Thank you for watching!
This is the book we are talking about: www.amazon.com/Sell-Your-Ideas-Without-Patent/dp/1507885733/ref=asap_bc?ie=UTF8
You both are so relaxed and chill, great info!
Thanks for the video's guys, very helpful. I have been trying to find a tutorial on how to write a PPA. Have you guys made a video on it yet as I cannot find it.
Stephen published an entire book about how to write a provisional patent application that is actually worth something: www.amazon.com/Sell-Your-Ideas-Without-Patent/dp/1507885733. It's a deep dive!
Thanks David
Hi Stephen and thank you very much for trying to help, I have seen many of your videos and have a lot of positive energy, but unless I can find out how to register my innovation, you do not talk a lot about practical details, for example if you talk in detail and not comprehensively about how we record our innovations.
Hey guys this is really gud and a major relief to me, i'll go ahead with my plans and if it works out right, after following ur advice i'll personally come shake ur hands as i give you my testimony and of course thank you.God willing.
Best wishes!
Stephen Key is really the key to so many things.
Thank you!
-Stephen
what kind of camera you use for youtube videos?
i have 2 ideas one is an improvement and simple to use and the other is used for same kind of work and attaches to same place as the other but theirs nothing out their like it and i made them for my own shop use and thought i should try to put these on the market and see how it goes but the cost and fees kinda smacked me down a little bit do this was helpful to know to keep the vultures out of my pocket 👍
hi ,I have question .is it necessary that the invention coach be from the same cite that i live in ?
I am ready to read them out and let's see if that helps me go safer and confident. Thanks.
Happy reading!
inventRightTV Thanks! I may not able to tell you in such impressive way that what i’m trying to say but the idea i’ve conceived is revolutionize In IT and its not so completed, don’t know why no companies have ever think about it. I don’t wanna be over excited
Where can i print/DL the provisional patent form and how do i pay it. Thanks
What if I have a company and I come up with a idea for my company can I still market my idea on UA-cam and Facebook?
OH WOW LOL.
“Does everybody understand that”
Interveiwer responds in a monotone voice.
“Yeah I get that. Yeah that’s great advice.”
Like who cares.
What he said there was SO IMPORTANT if you break down the math and mechanics of what he said!!
I can not emphasize that might of been the best nugget in whole bunch of treasure he spoke!
Go back and rewatch and rewind and grab a pen and paper and figure out what he is saying and why. You’ll be glad you did
Omg thank u so much
You're welcome!
I have a great invention for the medical / and mechanical fields where can I get a patent pending also what type of companies will do I look for.
Will this process work for international patents also just to get started
Hi Stephen, I have your book. I just applied for a provisional patent. Upto said they will issue a number in 8 weeks. I have an excellent idea which is a really big WINNER, for years to come. God willing.
Fantastic congratulations!
-Stephen
With respect to your comments between 11:24 and 11:36 of your video, and if, I have read, you cannot extend or renew, per se, a PPA, how does one keep the patent pending status ongoing without gaps? Would there have to be major changes or modifications made to the product? Thank you.
For a detailed explanation of your options when your provisional patent application is about to expire, read this article: www.inc.com/stephen-key/what-to-do-when-your-provisional-patent-application-is-about-to-expire.html
TY SIRS
Wow I wish knew this before I patent my idea
Can the provisional be renewed ?
Do you have a video on what to do if you have a industry changing idea?
Yes. We have videos on what to do when you have a BIG idea!
How do I sell my idea to apple Samsung or google?
What of international markets?
Is there any equivalent to a Provisional Patent in Europe?
amazing the nolegy you share
Got it!
what if i dont want to sell my idea?? I want to create a business. how will i go about it??
How would this work in the UK?
Can you get provisional patent application in uk pls? Thank you
Our cohost Andrew is going live today at 4pm Pacific to answer your inventing and licensing questions - that's a great time to get your question answered! Save the link to join the live: ua-cam.com/video/-GuVJ5qTo5w/v-deo.html
He goes live every Monday at 4pm Pacific.
What to do when several ideas with potential marketing ?
E.G....There's chevy, Ford, Nissan, honda,Toyota's Etc, Etc...Then you come up with the BMW or Mercedes Benz concept..
What is next ? Best approach ?
Hi i have been watching your videos and they are very informative but i got a question if you know how can i show my concept or "napkin idea" so i can license it... just simply showing the concept see if it works, without doing a prototype etc..
i have been trying to do this for many many years and becausse people around me got there ideas stolen, you know... the usual if you don't have the knowledge or help! That's one of the reasons why I'm hesitating to do it
Thanks you
Don't let fear be your guide. With our 10-step strategy for licensing ideas, a prototype is not required. You may need one down the line, but not to reach out to companies for initial interest. Contact us for help: www.inventright.com/contact
Excellent video. What happens after a Provisional Patent expires after 1 year? Can it be re-submitted or extended?
+Landzip One You can file a new PPA, yes. You'll just lose your early filing date (in other words, the date you first filed).
When licensing while provisional is still pending, is it possible to structure license agreement to transfer costs and responsibility of filing related utlity patents to the licensee? If so, what impact might that have on the 1%, 5%, 7% typical royalty schedule you suggest?
This is a great question.Negotiating where your licensee pays for the intellectual property is a strategy we use all the time.
But I would never transfer responsibility. You have to control this yourself.
@inventRightTV Thank you. Transferring costs while retaining responsibility/control makes good sense, insofar as there is an inherent conflict of interests.
Hi sir,
Can I apply for (US) PPA, living in UK? in the future I want open company in UK, if they accept my PPA.
Thank you 😊
Im out of Salinas Ca. do you do consulting out of your office?
We work with students online, from more than 60 different countries. Get in touch with us to learn more: www.inventright.com/contact
1:58 & 2:06 I picked up my iphone and saw no new messages! :D
lol!
great community and content thumbs up
Thank you!
Watching your videos gives me the chills we as humans have so much potential
That's beautiful!
Weirdo!
Question! I want to put mine on KICKSTART to see if I can get investors or funding started.... all I need right now is licensing right? I know you're not lawyers but ADVICE on your personal experience or knowledge is greatly appreciated!
Is it a good idea to set up a LLC in order to receive royalties? You guys are so beautiful, BTW. I did see a video on setting up an office, so I have to catch that. Such great videos!
Watch inventRight coach Amy Jo discuss creating an LLC for product licensing here: ua-cam.com/video/reObjkp5jJQ/v-deo.html
We just posted a video all about forming an LLC! It features the leading expert on LLCs for entrepreneurs, Matt of LLC University: ua-cam.com/video/Xy0EGtuRvks/v-deo.html
Hi Stephen Key, can you file a provisional patent in the USA from a different country? Thank you.
Definitely.
Hi. I have invented a new product that attaches to an existing product. I have never seen it and many have told me to patent it. Ten plus years later I'm still here. And still have not seen anything like it out there. Not on Google or anywhere. So what do I need to do?
Maybe we can help. Get in touch to find out how: www.inventright.com/contact
Hello, i have a question. I have created a hair product that i want to start marketing. i was told by a friend to get a patent first. Do a hair care line need a PPA or a patent?
blessings,
Tiana
Hi Tiana. The best thing you can do when you want to bring a product to market is educate yourself. (In other words, don't rely on advice from your friends.) We highly recommend reading Stephen Key's award-winning book "One Simple Idea," which you can find on Amazon and in many libraries in the United States. Check out our webinar with Joan Lefkowitz, a fashion/hair accessory expert who has had success licensing ideas, for more information about the industry! www.inventright.com/all-vids/127-special-webinars/875-licensing-your-fashion-accessory-or-beauty-product-with-joan-lefkowitz
I have one product that is commercial and retail and has two more variations. Do I need 4 PPA and 4 sells sheets ? I could better sale all its functions with one sales sheetDo could include all options in one PPA? Does the royalty amount increase ?
Hi Patricia. You need to remember that the goal of your sell sheet to pique a licensee's interest. So what concept is going to do that the most? You don't want to overwhelm or distract with too much at first. We know people who have licensed many different versions of the same idea at a time - 21 different SKUs, in fact!
For Patents, you can Fill out a Patent Application , and once the U.S. patent office gets it , you or a manufacturer can release the product with a " Patent Pending " on it ! And in this way " you " can accrue enough money to pay the [ is it still $ 60,000 dollars U.S. ] patent fees !
But if the patent office comes back and says, No someone already owns that, well then you stop ! Caution Do a Patent Search 1st. Then you dont run into trouble ! And it would be a good idea to get advice from a Patent attorney or at Least go to a Law Library and have the librarian direct you to the books you need !
About how long does it take for a ppa application to go through the verification process of their offices also how long will it be pending for before the ppa becomes set in stone
The USPTO does not read provisional patent applications. You have 12 months to decide if you are going to file a non-provisional patent application. Learn more: www.inc.com/stephen-key/what-to-do-when-your-provisional-patent-application-is-about-to-expire.html
patenting provitional us about $125 dollars, but the total and formal patent thing is around $15K. But you know what, if you really invent a great thing nobody ca take i away from you, because all of us know that money makes the difference. A huge company will pattented and steal your idea and even worse you wont be able to sell at all. is better to do a provitional patent is cheap and then follow up and pay maintenance fees. If your idea is not worth it much dont waste the timem but any ways before license go for a provitional patenting and negotiate good royalties
Companies don 't get patents Only individual persons, a human person i nvents. Companies donot get patents people do.
@@gonzooznog8986 That's just outright not true.
thanks guys i now own all my RIGHTS to my music all my masters n publishing's
Are u saying: when negotiating license contact “opening up” means that I can renew PPA for yrs
For that particular product
Hi Kathy. To get help with your questions, you can email us at andrew@inventright.com, call us at 1-800-701-7993, or set up an appointment at your convenience using this link: www.inventright.com/contact
In European patent law, there isn't PROVISIONAL patent applications. Claims are written in stone from the application date. Later you can delete some of them but you can't add anything
SO, lets say i make a PPA and start selling my product but two years of making money someone says that YOU stole their idea that has been previously PPAed ... what then?
What are the “big ideas” vs “small ideas”??
Great video! The format is a little strange though, Are they business partners? When they correct the one guy corrects the other, it's a little awkward.
They both run their institute. I like their format, they make it attractive and they are selling you their product.
Hi Stephen, Andrew,
since my invention is not patented yet and i may not file one anymore, would it be wise to sell the invention instead rather than license it?
Roger, you can license inventions that do not have IP. It depends on the industry. Find out more: www.amazon.com/Sell-Your-Ideas-Without-Patent/dp/1507885733/
Hello Andrew and Steven can license a deal with two co at the same time and have two contracts ? thanks
Yes, you can license the same idea more than once. Learn more:
www.inc.com/stephen-key/how-to-license-an-idea-to-more-than-one-company.html
ua-cam.com/video/KW4GJzcwvi0/v-deo.html
Isn't there a limit on the number of "Micro-Entity" PPAs you can file before you have to file ( I think its 4 or 5 )as a "Small Entity" and the fee goes up to $200.00? That's still affordable but is there away around this? Always great content. Thanks.
That's a great question for the United States Patent & Trademark Office: www.uspto.gov/about-us/contact-us
Thanks gents! @@inventRight
Steven! There`s that phone again. (2:50).
What if I don't want to sell my idea to a company, but crowdfund to generate capital for my idea?
My products is there, I just need my machine to be build, I don’t need the patent until I make some sells, because my machine is gonna cost a lot and needs a lot of patents. I just need a provisional application, need help. While I’m making my product to sell it. Need help