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Stephen Key

Congratulations On Licensing Your Idea, Michael!

Congratulations On Licensing Your Idea, Michael!
Congratulations Michael G. on licensing your product idea!  "Pretty much my whole life I've been coming up with new ways to do things. Only in the last recent years have I given serious thought to trying to monetize the things I come up with. I knew my ideas were solid, because I kept seeing them pop up on shelves. I would think to myself...
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Stephen Key

How to Become a Great Inventor

How to Become a Great Inventor
This Sunday I will turn 63 years old, and I've never felt better. On that day, I will fly to New York City to join other inventors for a panel at the City College of New York in partnership with the AAAS-Lemelson Invention Ambassador program that takes place on Monday. We've been invited to share our thoughts about how to make higher education...
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Christine Champenois
Wishing you a Happy Birthday Steven and a Happy Fathers Day!! (Double Whammy) nice! Thank you for creating a community, a plan, a... Read More
Sunday, 16 June 2019 16:16
Andrew Krauss
Thanks Christine. Stephen is at the AAAS-Lemelson Invention Ambassador program today, so i'll just say thanks for him and pass you... Read More
Monday, 17 June 2019 16:39
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Stephen Key

Celebrating 20 Years of Helping Inventors License Their Inventions

Celebrating 20 Years of Helping Inventors License Their Inventions
As they say, time flies when you're having fun. And Andrew and I have been having a blast! But still. Holy smokes, this year at inventRight we are celebrating our 20th anniversary. They also say things change over time, and that is absolutely true. We've grown quite a bit over the years in fact. Now we have 20 people working for us who share our vi...
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Chris Phillips
you guys look like mobsters in the top photo!
Tuesday, 11 June 2019 15:47
Andrew Krauss
Good one Chris! The whole point of putting these old pictures of us up is i guess for it to be a bit embarrassing / nostalgic. I t... Read More
Monday, 17 June 2019 15:40
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Stephen Key

Invention Help for Free! Top 50 Licensing Videos - Over 1 Million Views!

Invention Help for Free! Top 50 Licensing Videos - Over 1 Million Views!
Commercializing an invention is difficult at best. At inventRight we are here to help. We have pulled together our top 50 most-viewed YouTube videos about how to bring new product ideas to market — which together have more than 1,000,000 views! The playlist is called  "Invention Help - Top 50 Videos - Over 1 Million Vi...
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Stephen Key

Celebrating Invention During the 2019 AAAS Annual Meeting

AAAS-Annual-Meeting-Banne_20190222-201147_1
I am totally blown away by what I experienced last week at the AAAS annual meeting in Washington D.C. Scientists from all over globe attended. It was a huge honor and quite an eye-opener to be there, surrounded by all these amazingly creative thinkers. How do I fit in, you may be wondering? I was invited to share my experience commercializing inven...
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Stephen Key

Finally, I’m Proud To Be Different

Finally, I’m Proud To Be Different
I am different. And for the first time, I can say that I am actually proud to be different. It wasn't always this way. It amazes me that I had to go back to a second grade classroom to fully accept myself. My life has truly come full circle. Let me explain. Recently, a 8 year-old second grader posted a video of his invention on Facebook and by chan...
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Stephen Key
Hello Tim, thank you for reading. And also thank you for the kind words. Have a safe trip. I’m sure you will gathered a few great ... Read More
Thursday, 07 February 2019 16:46
Kathryn Rendon
Hi Stephen, I’m a new student as of a couple of weeks ago, and Arleta is my Coach. It’s very inspiring to hear how you have over... Read More
Wednesday, 13 February 2019 15:02
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Stephen Key

In 2019, Embrace the Power of One Simple Idea to Change Your Life!

BelieveInYourself
My life is remarkable. I live in Lake Tahoe, one of the beautiful places on the planet. I take trips with my family and friends to exotic locations for weeks at a time. It wasn’t always this way. When I was in my twenties and just starting out as an entrepreneur, I struggled to provide myself with the basics. The apartment I lived in was modest, wi...
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product ideas success Learn Believe Find Your Tribe
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Andrew Krauss
I'm so glad your coach Paul and our negotiation coach David could be there for you to help you close this deal. But in the end t... Read More
Tuesday, 22 January 2019 12:08
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Stephen Key

If I Could Just Get On Shark Tank!

If I Could Just Get On Shark Tank!
“If I could just get on Shark Tank.” I hear this all the time. “If I only had enough money.” “If I just knew the right person then all my worries and all of my concerns would go away.” Bringing a product to market is not a money issue, and it’s not about whom you know. It’s a knowledge and experience issue, and gaining those takes time. There isn’t...
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licensing – Licensing ideas Shark Tank Daymond John success
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Stephen Key

Anyone can license an idea!

Anyone can license an idea!
I believe anyone can license an idea! Not only do I believe it, I know it! I see ideas get licensed every single week. From the wacky novelty products to ideas that can change the world! There is absolutely no reason why your creativity has to stay in your head. Companies are looking for ideas. It’s a simple as that! The traditional model of bringi...
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Stephen Key

(WEBINAR) Considering Crowdfunding? How to Fight Back Against Copycats and Counterfeits

(WEBINAR) Considering Crowdfunding? How to Fight Back Against Copycats and Counterfeits
If you are considering a crowdfunding campaign, do not miss this webinar. Crowdfunding is an absolute game-changer. Thanks to the success of sites like Kickstarter and Indiegogo, the crowd can vote with its wallet now. There are enormous benefits to running a crowdfunding campaign, including less risk, no equity, exposure, ease of use, validat...
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Stephen Key

Why do successful people have coaches?

Why do successful people have coaches?
You have talent, ambition, and great ideas. Isn't that enough? I reflected on this question last week for a long time. There is so much information available to inventors today on the topic of commercializing a product, why aren't more people successful on their own? inventRight offers the largest library of articles on licensing , over 400 free vi...
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Potential Licensee product idea product ideas licensing – inventRight students
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Stephen Key

How Do You License Your Idea? Over 400 Free Videos Are Just Waiting For You!

How Do You License Your Idea? Over 400 Free Videos Are Just Waiting For You!
Have you taken advantage of the hundreds of videos about licensing on inventRight TV, our YouTube channel? You should! The inventRight team of Andrew Krauss, Stephen Key, David Fedewa, and Amy Jo Brogan have created over 400 videos to help you license your ideas and inventions. These videos provide all the steps you need to license your ideas to in...
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product idea royalty rates licensing journey licensing deal product developer
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Stephen Key

How Can You Save Thousands of Dollars and Still Protect Your Idea? Write the Best Provisional Patent Application!

How Can You Save Thousands of Dollars and Still Protect Your Idea? Write the Best Provisional Patent Application!
You've heard me say this before - a Provisional Patent Application (PPA) is the inventor's best friend. And here's why. If you have an idea/invention take a deep breath before you do anything. Everything will be fine. Don't listen to friends or family members that have never brought a product to market. Don’t be sold on fear that someone is going t...
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Stephen Key

Master the Art of Product Licensing - At Your Own Pace and In Your Own Way!

Master the Art of Product Licensing - At Your Own Pace and In Your Own Way!
Let the worlds leading experts on product licensing teach you how to collect royalties on your product ideas! How? With inventRight’s online licensing course, iR Academy. Learn how to license your own inventions without raising capital, starting a business, or really taking any risk at all. You probably don't even need a prototype let alone an expe...
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product idea licensing – product companies licensing deal
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Stephen Key

Inventing is a Long-Term Play

Inventing is a Long-Term Play
I believe that people who create and invent new things do it because we have to - it's a natural desire that cannot be ignored. It's an energy, a way of looking at the world around us, and we simply have to let that energy out. I also think that most creative people are not in it for the money. We want to make the world a better place. We want to p...
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Teryl Lightbourne
Love it
Monday, 09 July 2018 11:38
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Stephen Key

You Don't Have To Start a Company Commercialize Your Idea!

You Don't Have To Start a Company Commercialize Your Idea!
In business schools and universities around the world, students are taught that to bring your invention or product idea to market you must start a company. I'm here to tell you they're wrong. Of course, if you want to start a company that's fine. But the simple truth is that most people don’t have the time, money, experience, or even the desire to ...
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Stephen Key

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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Stephen Key

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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Stephen Key

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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Stephen Key

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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Stephen Key

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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Wayne Augsburger
Totally agree Dude! Great read.
Monday, 14 May 2018 09:09
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Stephen Key

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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Stephen Key

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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Paul Sorenson
Hi Niroshan, Whenever you file a PPA with the USPTO it is a good practice to print the receipt. This will give you your applicat... Read More
Wednesday, 10 July 2019 14:15
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Stephen Key

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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Stephen Key

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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Stephen Key Forbes.com article patent Shark Tank need
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Stephen Key

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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Licensing ideas .  Open innovation ideas .  Technological developments 3 D printers inexpensively .  Crowd-funding websites
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Stephen Key

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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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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Stephen Key

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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things product developer track – setbacks . experience ups
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Stephen Key

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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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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Stephen Key

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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Stephen Key

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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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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Stephen Key

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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Stephen Key

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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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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Stephen Key

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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Stephen Key

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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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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Stephen Key

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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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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Stephen Key

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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Don ’t Rely Potential Licensee product idea idea ?”
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Stephen Key

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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Stephen Key

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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Stephen Key

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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Stephen Key

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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Stephen Key

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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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
Mike Van Horst
I can see the Benefits both ways. And I will tell as I was one of the ones that went the whole way thru 2 years in a row, and gues... Read More
Friday, 27 July 2018 16:09
Sharnie Sirotic
Yes, Mike! Just like ring.com... That is a beautiful example of a fantastic product passed over by Shark Tank and later sold to ... Read More
Monday, 30 July 2018 00:32
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Stephen Key

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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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 the world's leading expert on product licensing. Cofounded by Stephen Key and Andrew Krauss in 1999, it has since helped people from more than 60 countries license their ideas for new products.

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