#1 Reason Companies Won’t License Your Product
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- Опубліковано 6 вер 2024
- Are you struggling to get companies to work with you despite having a great product idea? In this video, Stephen Key reveals the top reasons why companies might be rejecting your pitches. Whether you’re reaching out on LinkedIn, making calls, or already in talks with potential partners, you could be unknowingly making crucial mistakes that push them away. Stephen breaks down the four biggest red flags that can ruin your chances, from lack of experience to asking for too much too soon. He also introduces Gateway, a program designed to help inventors position their ideas the right way, ensuring companies are more likely to say yes. If you want to avoid the pitfalls and improve your chances of landing a licensing deal, watch this video to learn how to make yourself an attractive partner for companies.
License your ideas, inventions, and products with the help of inventRight. Find out how by calling +1 (650) 793-1477 or emailing support@inventright.com. Do you have the next big hit?
New to the licensing business model? Educate yourself first.
- Read “One Simple Idea”: amzn.to/4fwVVOT
- Explore inventRight’s Free Inventor Resources: bit.ly/3AaGko2
About Stephen Key, inventRight Cofounder
Stephen Key is an award-winning inventor, renowned intellectual property strategist, lifelong entrepreneur, author, speaker, and columnist. He has over 20 patents in his name. The dozens of concepts he has brought to market have retailed in Walmart, 7- Eleven, and Disney stores and parks worldwide and been endorsed by Michael Jordan, Alex, Trebek, and Taylor Swift. He has defended his patents in federal court against the largest toy company in the world, Lego.
In 1999 he cofounded inventRight with inventor Andrew Krauss to teach others his unique process of harnessing the power of open innovation in the licensing business model. His best-selling book about how to license an idea, One Simple Idea by McGraw-Hill, has been translated into six languages.
He has spoken at Stanford University, Florida State University, the University of Michigan, UC Merced, the USPTO, World IP Forum, University of the Pacific, Cal State Fullerton, Washington University in St. Louis, the Art Center College of Design in Pasadena, the Economic Development Agency for Northern Ireland, and many more. He has written five books related to product licensing and intellectual property and is a longtime contributor to Forbes and Inc.
From 2018-2019, he was honored to serve as an American Association for the Advancement of Science-Lemelson Invention Ambassador.
In 2021, Mojo Nation named him as one of the 100 most influential people working in the toy and game industry.
In 2022, World IP Forum named him a “Most Influential and Inspiring Leader Of All Time.”
About Andrew Krauss, inventRight Cofounder
Andrew Krauss is an expert on licensing products ideas for passive income. He has been helping creative people bring their concepts to market with less risk and more success for 25 years as a cofounder of inventRight.
During his tenure as president, he grew the Bay Area Inventors’ Alliance group into one of the most active and well-established inventor associations in the country. In addition to advising the White House on innovation, he has been featured as a speaker at USPTO conferences and on NPR’s Science Friday.
About inventRightTV
inventRightTV is the leading source of information for inventors and product developers on UA-cam. With 80,000 subscribers, average monthly views between 64,000-78,000, and average monthly impressions nearing 1 million, becoming an inventRightTV sponsor ensures you reach an extremely targeted audience. Email madeleine@stephenkeymedia.com for more information and to apply.
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Reference on this video to any specific commercial products, process, service, manufacturer, company, or trademark does not constitute its endorsement or recommendation by inventRight, LLC or its hosts. This video may contain links to external websites that are not provided or maintained by or in any way affiliated with inventRight, LLC. Please note that the inventRight LLC. does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Hit 200k today. I'm really grateful for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in May
How please
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Rookie-ism, The #1 Reason Companies Won't License Your Product. A difficult subject, but you handled it graciously.
Thanks for this Independence Day Gem!
Thank you so much for commenting!
One of the best videos yet!
Most business deals come down to three critical things: Whats the Deal? What are the Numbers? WHO are the People?
Work on yourself as much as you work on your Ideas. :)
BV
I would agree thank you so much!
I need help with my sequencing!! I have several products I'd like to bring to market via licensing agreement, but having adhd and a not so strong support group, it's hard to keep momentum by myself amoungst internal questions and limited resources.
My first product(which I've spent the most time with) needs a well crafted sell sheet, and I've been looking for local businesses that offer that service, but haven't been able to find one. Be nice if there was a local spot I could go to limit distractions, have ample resources, and beable to gain some traction. Once finances get back on track, I'd really like to partner up with an inventRight Coach once I get over these few hurdles!
Thanks again for being an encouragment and offering us product developers these Great resources!!
I have a concept for a small mobile gadget, everyday problem-solving product that could be widely used. I'm wondering if you'd be interested in developing it and handling the licensing with companies. While I'm confident I could pursue this myself (having already filed 3 patents and approached companies for licensing), my current workload wouldn't allow me to dedicate the necessary time to develop this fourth concept quickly. That's why I'm looking for an expert who can move forward efficiently.
My concern is that there might be some engineering hurdles that could prevent companies from manufacturing it. I'm not an engineer myself, so I can't be sure. However, if you could handle the entire process, including development, patenting, and licensing, I'd be happy to share 50% of the royalties generated from the product.
Hey Stephen, long time InventRight fan. Wondering if you guys could do a video or even a longer webinar on IP valuation? Thanks!
This question might be non-related to this video. But how do we know who to trust on LinkedIn, that shows interest?
Always do your homework and make sure they have a great track record working with us inventors!
After 25 years, we pretty much know the good guys.
Gateway is the ticket.
Is it best to go to a license attorney to talk to a company to make the right deal?
It’s not my strategy.
I think you have to look at this from a business perspective, not illegal one.
Is there a package deal if you’ve been saving up ideas and always having new ones? 😊 A few of them would definitely stick!
I like this information thanks for this Video.
Thanks Stephen
Another gem
Thanks Stephen !