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How to invent right!

How to invent right!
Why do most inventors struggle to commercialize their inventions? Why are 97% of all patents worth less than what it cost to obtain them? In my opinion inventors have been going about this all wrong! The information they have is outdated. And, a lot of inventors get their advice from folks who don't have the experience to offer sound opinions - and...
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The Reality of Being an Inventor

The Reality of Being an Inventor
I truly love the process of creating. Seeing your product on store shelves or maybe even TV is incredibly rewarding. Watching someone use your product is magical. I love it. But, like everything else in life, it takes a lot of hard work and perseverance to succeed. Here are a few simple truths that I’ve learned in my career about creating new produ...
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How do you find your potential licensee? How do you find companies looking for your particular idea?

How do you find your potential licensee? How do you find companies looking for your particular idea?
Just the other day I was speaking to an inventRight student and he mentioned that his list of potential licensees was somewhat short. Being familiar with the industry, I asked him if a particular company was on his list and, guess what?, it wasn’t. I asked him how he developed his list. He has used one of our recommended strategies which is to visi...
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Can You Make a Living Licensing Ideas?

Can You Make a Living Licensing Ideas?
This is a frequent question asked by inventors and creative people. And, like anything else in life, to succeed at licensing requires practice, patience, and determination. I believe that most creative people come up with product ideas because that's just the way their mind works - you create instinctively - you can't really even help it - your bra...
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Are videos important to license your product idea?

Are videos important to license your product idea?
This is a great question. I've seen some videos that do a really great job of demonstrating a product's benefit. But do you need to have one? I think it all depends on the industry for which you are creating products. If you’re submitting ideas to toy companies (and submitting a lot of them which is how to be successful) then making a video for eac...
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Recent comment in this post
Wayne Augsburger
Totally agree Dude! Great read.
Monday, 14 May 2018 09:09
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How To Overcome Obstacles When Licensing Your Idea

How To Overcome Obstacles When Licensing Your Idea
I wish it weren't true, but you must accept there are going to be many obstacles in your way when trying to bring your product to market through licensing. It’s going take longer than you think, working with freelancers might be frustrating, writing and filing your PPA might be outside of your skill set, making sure your sell sheet l...
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Should you show your Provisional Patent Application (PPA) to a potential licensee?

Should you show your Provisional Patent Application (PPA) to a potential licensee?
At inventRight we get asked this question all the time.  As I travel around the country and speak to inventors, it's a familiar dilemma.  You've submitted your product to a company and they have asked to see a your PPA.  Should you show it to them? The simple answer is yes if they ask. But the real question (and advice I'd like to of...
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Can I license my idea to more than one company?

Can I license my idea to more than one company?
You have a great idea, it's perfect for Walmart and many other retailers and you want to sell as many units as you can.  After all, more sales means more revenue to you.  This is the dream of most inventors. So here’s the burning question? Can I license my product to multiple companies to help generate as much revenue as possible for me a...
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How to License an Idea Without a Patent

How to License an Idea Without a Patent
Stephen Key's Forbes.com article - In Today's Market, Do Patents Even Matter? You share your idea with a friend and he or she says “You’d better get a patent on that”. You watch Shark Tank and come away thinking you need a patent to sell your product. You go to a meeting of your local inventors group and speak with several people, including patent ...
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inventRight Helps People License Their Ideas. How?

inventRight Helps People License Their Ideas.  How?
Licensing ideas is easier now than it has ever been.  Open innovation is flourishing and thousands of companies are looking for new ideas.  Technological developments like 3D printers allow you to make prototypes quickly and inexpensively.  Crowd-funding websites help you raise needed dollars.  Freelance websites offer inexpensi...
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Cold Calling - 26 tips to be successful at this important skill!

Cold Calling - 26 tips to be successful at this important skill!
Creating a new product idea is the fun part! But, to successfully license your product idea – you have to show it to some companies, probably a LOT of companies – and to do that you have to find a way to get in to the right person and present your product idea the right way. For many people this is one of the hardest steps in licensing – trying to ...
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Recent Comments
Andrew Krauss
Dawn, I'd be happy to answer your question about NDA's. Use this link to book a phone call directly with me. I will call you ... Read More
Monday, 09 April 2018 15:16
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Roadblock ahead! How to Stay Motivated While Trying to License Your Idea

Roadblock ahead!  How to Stay Motivated While Trying to License Your Idea
One of the toughest things about being an inventor or product developer is staying motivated and keeping on track – especially in light of setbacks.  This journey is a marathon; definitely not a sprint and you are going to experience ups and downs along the way. You need to have a few tips and strategies to help you stay excited, enthusiastic ...
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Finding a Product Scout or Licensing Agent is like Finding a Leprechaun!

Finding a Product Scout or Licensing Agent is like Finding a Leprechaun!
Finding a product scout, meaning someone who will represent your product to companies and aggressively try to get you a licensing deal, is like trying to catch the pot of gold at the end of the rainbow. Bringing your idea to market through the licensing model is straightforward – and something that you can do for yourself.  I’ve done it you ca...
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Recent Comments
J Farrell
Just what I needed to read! .. I get tired and worn out, (never give up), but looking for something easier. It would be harder t... Read More
Wednesday, 21 February 2018 06:14
Andrew Krauss
LOL J, Yes, you could sell that product all day long. Many inventors just want someone to agent and sell their idea for them. T... Read More
Thursday, 22 February 2018 18:05
Aaron McGill
Just to the point! I thought that way for many years, waiting for that special someone who will take my idea/ product out there to... Read More
Friday, 23 February 2018 12:31
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Walk Before You Run! The First Step Every Inventor Should Take

Walk Before You Run!    The First Step Every Inventor Should Take
I think most people want to start their licensing journey off correctly. I see it countless times: people throw themselves headfirst into a new project, excited about the possibilities. Don’t get ahead of yourself! There is a step you should take before you rush out with your product idea and file for a patent. If you miss this first step you’re go...
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Show Me The Money! How Much Can You Make From Licensing Your Idea?

Show Me The Money!  How Much Can You Make From Licensing Your Idea?
How much money can you make from licensing your idea? Someone asked me this question recently. In fact, some folks wanted to know if I can bring inventRight students onto my videos and seminars so they can share how much money they’re making. I haven’t gotten this sort of question in a long time and I doubt that I can answer it to anybody’s satisfa...
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Recent Comments
Andrew Krauss
I'm so happy for you Jason. You followed the inventRight approach and licensed your first product! The number of years a product ... Read More
Tuesday, 13 February 2018 10:16
Andrew Krauss
Hello Faith, My recommendation would be to license this second product just like you did for your toy. That would be the best wa... Read More
Thursday, 26 April 2018 07:17
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Royalty Rates - How to get a Higher One!

Royalty Rates - How to get a Higher One!
Royalty rates are an important party of licensing – after all, it’s how you get paid! Everybody wants to know: how do I get the highest royalty rate? First let me tell you that royalty rates average about 5%. Over and over, across different industries and lots of different products, a royalty rate of 5% is standard. Once in awhile it might be 3% if...
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Don’t Kill Your Licensing Deal Before It Even Gets Signed!

Don’t Kill Your Licensing Deal Before It Even Gets Signed!
Today I want to talk about ‘killing the deal’ when you begin negotiating with a company. And no, I don’t mean this in a good way. Let me outline a scenario for you: you’ve done a lot of hard work by putting together wonderful sales material, making a list of companies and contacting them, and BOOM! One of them has showed some interest in your produ...
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Recent Comments
Kristina Van Horn
Interesting...but what ARE the unspoken rules and specifically, the right questions?
Thursday, 18 January 2018 20:43
Andrew Krauss
Kristina, Negotiating a license agreement is a dance. We help our students do that dance one or twice with the help of a negotiati... Read More
Thursday, 25 January 2018 10:43
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When Do You File a Patent? You’d Be Surprised!

When Do You File a Patent?  You’d Be Surprised!
I want to talk about when you should file a patent.  And based on my experience, I have a different approach to this than many other folks.  Trust me, I know exactly what it feels like to come up with an exciting new product idea, and Boom! That’s when fear takes over. Is someone going to steal my idea? 25 years ago, that fear hit me, and...
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18 Tips to Protect your Ideas

18 Tips to Protect your Ideas
Disclaimer: I am not an attorney and this is not legal advice. Happy New Year! Today I am going to go over 18 ways to protect your product ideas. It’s a lot of information that I think will help you both protect and license your idea successfully. I’m going to share the traditional methods of course, with the USPTO as your main resource, but I’m al...
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Recent Comments
Aaron McGill
Thanks Stephen, Great as always! Can't wait to get my copy of "How to Sell your idea with or Without a Patent". Warm Greetings fr... Read More
Wednesday, 03 January 2018 09:32
Andrew Krauss
A.McGill...... We are known for "One Simple Idea" book, but Stephen put a lot into "How to Sell your idea with or Without a Patent... Read More
Monday, 08 January 2018 13:19
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Reality Check for Inventors: No One Else is Going to Do it All for You

Reality Check for Inventors: No One Else is Going to Do it All for You
Today I want to talk about that magic person or company that is going to come along and do everything for you. They are going to take your idea, they are going to license it from you, and they are going to send you checks. All you have to do is come up with a great idea. Sounds like a miracle, doesn’t it? That’s because it is! It doesn’t happen tha...
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Recent Comments
Brad Gupton
Another Great post. Keep 'em coming!!!!
Wednesday, 03 January 2018 20:11
Andrew Krauss
Thanks for the kind words about Stephen's post. Keep inventing! Andrew Krauss : inventRight Co-Founder: 650-793-1477... Read More
Monday, 08 January 2018 13:24
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4 Questions to Help You Evaluate Your Big Idea

4 Questions to Help You Evaluate Your Big Idea
Don’t Rely on any Evaluation Other than A Potential Licensee I want to talk about how to evaluate your product idea. I get this question all the time. People want to know: “Hey, do I have a good idea?” It’s something that I’ve spent a lot of time thinking about. Just the other day a bunch of really smart people showed me all the different ways to e...
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Licensing your idea to a fortune 500 company

Licensing your idea to a fortune 500 company
Licensing your idea to a large company is possible - but you must be prepared. When I first started coming up with new product ideas, I was able to license several to small and midsize companies in the toy and novelty industries.  But then I hit upon a “big” idea. I licensed my label innovation, called Spinformation ( http://www.spinlabels.com...
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How to Patent an Idea

How to Patent an Idea
Patenting an idea is not difficult. All you is need is a good patent attorney and a wallet full of cash. The real challenge is patenting an idea that is profitable. According to the United States Patent and Trademark Office, more than 8.5 million patents have been issued. That is a lot of invention ideas! But very few of them ever make any money. I...
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The 32 Most Common Problems Inventors Face

The 32 Most Common Problems Inventors Face
Are you experiencing any of the problems listed below? Is my idea different enough? Do I need a patent on my idea? Is my PPA good enough? Will a company steal my idea? Do I need a prototype? I don’t have the technical background, what should I do? Do I need a website? Do I need to start a business such as an LLC? Should companies sign my NDA? Is it...
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Do You Really Need A Patent?

Do You Really Need A Patent?
Everyone wants to know, do they need a patent? Most inventors are extremely fearful their ideas are going to be stolen from them. The question really isn’t that simple, though. What you need to do is think critically and develop a business strategy. What are you really after? How are you going to get there? When it comes to intellectual property, i...
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Is Your Product Right for Shark Tank?

Is Your Product Right for Shark Tank?
Since ABC’s Shark Tank premiered on August 9th 2009, it has become incredibly popular. Nearly 8 million people tune in to the reality show each week to watch entrepreneurs pitch their product businesses to a panel of potential investors, otherwise known as the sharks. Shows with the same premise, like Canada’s Dragons’ Den , exist in dozens of othe...
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Recent Comments
Andrew Krauss
Great points Jake. I've always felt that licensing is the best way to go. You get the ***Money***, ***Workforce(company working fo... Read More
Monday, 08 January 2018 13:29
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What is Licensing

What is Licensing
Licensing Your Idea / Invention How do I know if it is right for me?  How To License Your Idea, Invention or Product Is the licensing model right for you?  If you have additional questions, please click here to set up a phone call with a member of our team.   What is licensing? There are different kinds of licenses. Essentially, and ...
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Recent Comments
Andrew Krauss
Israel, We can help you with your licensing agreement or anything else to do with licensing. Feel free to call ask for me pers... Read More
Friday, 09 February 2018 07:46
Andrew Krauss
Feel free to use the chat on our site if you have any questions about how we can help.
Thursday, 31 May 2018 11:32
Andrew Krauss
Sarah, You are welcome. Tim is an incredible guy. And inventRight and the techniques we teach for licensing is the ultimate in out... Read More
Thursday, 31 May 2018 08:22
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About Us

inventRight is a one-on-one coaching program founded by Stephen Key and Andrew Krauss. inventRight’s aim is to empower inventors with the knowledge, guidance, and help they need to license their ideas.

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