How to license your product ideas

[@lorindapeterson3195]

Hi Stephen !!! Listening and loving it !!❤

[@inventRight]

Thank you for watching and commenting!

[@minnielouoliver9183]

​​@@inventRight One great video that let you asked about your many projects that are ideas Ready. ❤? Ladyredoliver 31:13 ?

[@devis_v_ssha]

well if it isn't two of the most smart qualified men on the planet creating another great show, question: what platform to create a sell sheet.

[@inventRight]

Thank you so much for the kind words. Create great marketing material is so affordable now I would only hire an expert graphic designer. I would never design with myself. You still need to be the Art Director though. Thanks for watching!

[@devis_v_ssha]

@@inventRight oh okay, I got it. Subscribed. what if I wanted to for example "upgrade the milk jug in a big way" are these companies to big?

[@inventRight]

Not necessarily. Everything’s done regionally.

[@ImbentongBentongTrimond]

Keep on commenting and liking guys it helps inventors and aspiring inventors like us find this platform thru KZbin algorithm!

[@inventRight]

Yes, you’re absolutely right. Thank you!

[@inventRight]

Thank you. Keep Inventing! - Andrew Krauss, inventRight Co-Founder

[@waltermedeiros333]

Great show Would your program process work for Canadian inventors?

[@inventRight]

Yes it does. We're proud to have coached inventors from over 65 countries.

[@bacanyork6106]

Good morning how can i licences my new tool idea before showing to the tools companies

[@inventRight]

Before? You need to show it to them so they can license it. - 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/ )

[@johnmelkonyan1036]

InventRight is doing a great job to educate inventors. What I would like to know if you can license your product to more than one company and also how much does it cost to become a student Thank you in advance for replying to my questions

[@inventRight]

Hello John. Licensing to multiple companies is a little difficult but it can be done. and for your second question we have different programs for people’s budgets and time commitments. Are you passionate about this industry?

[@johnmelkonyan1036]

@@inventRight Yes,very much so. Do I call 800 number to get more information about licensing my patent or you can provide me with a phone number that I can talk to someone ? Thank you very much!

[@inventRight]

He is my direct email [e-mail] Or just call me 209 480 8603 Thank you Stephen

[@johnmelkonyan1036]

Thank you so much ! I will be in touch tomorrow with all my details. Thanks again !

[@inventRight]

Looking forward to speaking with you John!

[@ryder6952]

I love this video, especially Stephen's hate for the portals lol.

[@inventRight]

@@ryder6952 thanks for commenting! Please subscribe if you haven’t already thank you so much!

[@Kelleynolimit]

When should you file Intellectual Property vs a patent or utility patent?

[@inventRight]

Kelly, thank you for this question. First of all intellectual property, is the things that you have created. Maybe a product, the name of your company, content, manufacturing process, software, etc. The way to protect your creativity/your intellectual property would be with a provisional patent application, a non-provisional patent application, trademark, copyright and protecting trade secrets.

[@charlesbeachboard6832]

Learn about provisional patents. The USPTO has videos on KZbin

[@matthewwutzen2645]

When will you have another online live event?

[@inventRight]

Great question! Our sister organization Inventors Groups of America hosts a live meeting on the last Wednesday of every month - subscribe to the IGA newsletter to always be in the know. inventleader.org

[@honeybeebusywhatsallthebuz1922]

My question is will they need to sign a non disclosure for your idea to protect your idea ?what documents do you need first ?

[@jacob79001]

Hey guys, I'm trying to find your video where you spoke with the CEO of an international hardware company but haven't been able to, can you help me out please? Thank you

[@inventRight]

We’ve done so many interviews. It’s hard to find all of them.

[@andrewforgie561]

Worth my time! Super grateful! 🙏🏻🙏🏻🙏🏻

[@inventRight]

Very glad to hear that, thank you for commenting and being a subscriber! That really helps our channel grow.

[@pageofmoskof]

Hello, I have been watching your videos thank you for the precious information. I didn't come across it yet and I was wondering what you would suggest about beverage licensing? Which would be the smartest way to do it? would be great if you can make a detailed video about it. Thank you again

[@inventRight]

We don’t see beverage licensing. You need to have a unique package or a process, but just the formulation is extremely difficult to license.

[@inventRight]

No, we don’t see beverage licensing. If you have a unique package or a different type of process, then maybe. But just a formulation is not enough to license.

[@mariejke]

Belated question, what is the best trade show for an invention that is simultaneously office furniture and sports equipment?

[@inventRight]

I’m not quite sure. Office furniture is a tough one.

[@mariejke]

@@inventRight Oh thanks for the reply. At least there's nothing wrong with my web search skills. It seems like similar products to mine have been at SXSW trade show...

[@KeepingItTrue]

Hey there! Great to watch your show. I was wondering can I DM you on couple of questions I had? I have a invention for a lot of power tools, multiple power tool companies and I wanted to kind of go over a couple of things with you

[@inventRight]

@@KeepingItTrue I would call our 800 number. I’m sure we can.Thank you for watching.

[@peterhellyar4265]

hellooo I have at least 20 inventions, two of which I am currently working on, I am blessed with ADHD so the paper work is a struggle, is licencing an easy thing to do????

[@inventRight]

I think so.

[@theresamoleski6518]

Great information delivered with great energy!

[@inventRight]

Glad you enjoyed it!

[@danmyself5341]

Great information !

[@inventRight]

Thanks Dan. 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/ )

[@inventRight]

Thank you so much Dan!

[@genevajohnson4021]

What if you sent your idea?I reached out to them with your idea and you see it the next day or month later on TV.Can they take your idea about using the midnig it to them when you reach out to the companies

[@inventRight]

@@genevajohnson4021 have to be very careful who you send your ideas to. 25 years of helping people none of our members have been taken advantage of.

[@TheIntuitiveWizard]

So, are you saying not to submit an idea to a manufacturer tryst has a submission portal? I’m a toy inventor… so only Hasbro is good to submit to through the portal? If not the portal how then?

[@inventRight]

Find another way. They have many inventor relationship people. LinkedIn is a great way. Portals just don’t work.

[@chrissmit6439]

Hi Andrew, sure happy discovering your channel.

[@inventRight]

Thank you so much for watching Chris!

[@inventRight]

Thanks for the kind words Chris. Keep Inventing and keep watching! - 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/ )

[@chrissmit6439]

@@inventRight Anytime Andrew, it is nice to find channels that are intellectually stimulating. Yours is one. It opens different perspectives and also promotes the idea of thinking. "Thinking is the best tool for creating ideas", would be another way of understanding this concept. And like exercising, the more you exercise, the better you get at it.

[@tacklengrapple6891]

Hasbro’s Spark portal is basically a contract you sign that states that in the event you get a licensing deal for your product submission that your royalty rate will be NO MORE than 1.5%.. meaning it could be even less. This is WELL below industry standard, and you have essentially pre-signed a contract before your product is even accepted. It’s hard to describe without swearing how low down, dirtbag lawyery this is for us inventors! Mattel’s says the same thing. If there’s a back door into these two biggest companies I’d love to know, but I’ve also read that the people in charge dislike when inventors skip the portal.

[@inventRight]

It’s very simple.Those portals are for beginners. And unfortunately beginners, take a lot of time, energy, and money.

[@inventRight]

Also, I would never submitted an idea through a portal. And definitely I would never pay to use a portal. It’s about building relationships.

[@aaronawoodard]

IDK, I tried to use one of those inventor help sites or commercials a while ago (they were basically an everything portal I guess), and the person that responded to me had an ideology a lot like these guys... I simply had the 'idea' and wanted them to figure out implementation, as it was well within their capabilities. Hel, I will even tell the comment section since I really only ever wanted maybe 5 or 10 k a month, since it was likely a lot cheaper than any fees would come out to be. PlayStation can incorporate their own memory duo stick ports to their latest controllers and BOOM functionality on top of functionality. Of course, I don't recall if I had ever send the idea on directly to Sony (so I did before posting this) although you know I will be trying to contact them now. They just dropped a controller with a display in it and it got dragged through the mud for only being able to wirelessly stream from the PS5. Some companies just don't listen to their fan base, then wonder where everyone goes...

[@Chadley1]

Real talk. Thank you.

[@inventRight]

@@Chadley1 thank you so much for watching and commenting. Please subscribe to our channel if you haven’t already thank you so much.

[@Helen-qj8pm]

How do we license our product? Do you have a book on this?

[@inventRight]

Yes www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676/ref=mp_s_a_1_1?adgrpid=57603526033&hvadid=274724203331&hvdev=m&hvlocphy=1022632&hvnetw=g&hvqmt=e&hvrand=191230293331452934&hvtargid=kwd-294928065536&hydadcr=15179_10362783&keywords=one+simple+idea&qid=1693774058&sr=8-1

[@jamesoneal7364]

What I need to know is what's the best way to get started and what I need to watch out for

[@inventRight]

Keep watching the videos!

[@elaineadolph1333]

Thank you I am loving this.

[@florinefontaine6899]

Hello thank you for this great information

[@inventRight]

@@florinefontaine6899 thank you so much please subscribe if you haven’t already.

[@marymccoy8789]

Hi I have a patient pending but it’s for the trucking industry

[@inventRight]

Feel free to give us a call at 650-793-1477 - 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/ )

[@elaineadolph1333]

Thank you for this insightful Podcast .❤️‍🔥😂

[@honeybeebusywhatsallthebuz1922]

Yes this is exactly what I’ve been. Looking for

[@florinefontaine6899]

I'm looking to join as a student.

[@inventRight]

@@florinefontaine6899 wonderful please give us a call when it’s convenient.

[@shannondunham2809]

So I have a creation. I don't know which is better. Lisencing or patenting and controlling everything.

[@shannondunham2809]

How do I find out what would be best for my product

[@inventRight]

Good question. Book a call with us here. inventright.com/contact/ or call us at 650-793-1477 and we'll tell you about the benefits of each. Then you can decide. - 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/ )

[@shannondunham2809]

Perfect thank you

[@Ralph-mq1gx]

I'm new to your party, loved this information

[@inventRight]

Thanks for watching! How did you find this video? We've got many more resources for you to enjoy and learn from.

[@ShanunShelton-l9v]

I will learn

[@doglesby]

Hello gentlemen, I worked w Davison Inventions and they never were able to get a manufacturer to license my patent. So i want to do it myself

[@inventRight]

Maybe we can help. Thanks for watching.

[@ShanunShelton-l9v]

Thank u

[@Awakemorethanmost1973]

Hello. I have an idea and an actual working prototype that I use daily. I am a Commercial painting contractor. My product saves time in my occupation. As we all know, time is money.

[@inventRight]

Those are the best ones!

[@CognitiveDissident.]

I'm working my way through the process of pitching my first licensing deal, unfortunately I'm not an InventRight student. Being on my own I've become a bit confused about how to get a manufacturing cost. My impression is that licensees will want that information from me, but I'm not quite sure how to make that happen. I couldn't find any videos anywhere on KZbin describing the process . . . any thoughts on where to learn about this? Thanks so much for all you do, InventRight team!

[@inventRight]

Find a contract manufacture. Have them sign an NDA with work for higher language. So there’s no coownership. You will probably need CAD drawings. If not, just get a rough estimate. Don’t recommend getting that estimate overseas unless you have reliable and confidential resources.

[@CastleWave]

PROMISE YOU ARENT GANNA BE MAD WHEN YOU FINALLY DO

[@cantthinkofnameyeah7249]

Man it would be a pleasure to meet you both

[@inventRight]

I travel quite a bit. What city are you in?

[@cantthinkofnameyeah7249]

@inventRight Orlando, Florida! I'll also be in Novi, Michigan for the injection mold and design expo from the 20th-21st this month.

[@JC11378]

Tim licensed to Joseph Joseph? I LOVE their brand! I’ve have several products from them and they’re wonderful, high quality products that last!

[@donnellm5435]

I like the crack analogy 😂😂

[@inventRight]

Thanks for watching!

[@inventRight]

Thanks Donnell. A little over the top, but it get's the point across. ;-) - Andrew Krauss, inventRight Co-Founder

[@florenceanancy4698]

How can I join your team because you can be trust ,then I bring my idea out it's mind blowing

[@matthewotremba9230]

When cleaning out Mom's House after her passing I should have called Guinness records As I think she held a Record for the largest accumulation of " AS SEEN ON TV " Items ever

[@inventRight]

They’re very popular!

[@TheIntuitiveWizard]

These videos are great but an ad ever minute and 30 seconds is too much. Way too much. I know they’re free to watch and all but holy moly! That’s a lot of ads!!!

[@inventRight]

KZbin has an audience that would like to be targeted to this content. They drive me crazy too.

[@TheIntuitiveWizard]

@@inventRight Ah, I see. Well I’m so appreciative of these videos. You guys are amazing! Thank you so much. ❤

[@inventRight]

Thank you for watching!

[@73roadrunner1]

I wonder why you two haven't made a T.V. show about successful inventors that " inventright " has helped. I think you'd be swamped with more business than you can handle !

[@jamesoneal7364]

This is my first time watching your show I am New at this one show I watched wanted me to pay $75 for the license

[@inventRight]

Be careful

[@doglesby]

What are some manufacturers that are interested in products that are for tobacco and cannabis

[@inventRight]

You can learn how to do this research yourself. We can teach you, if you're interested in learning.

[@TamaraEllison]

I invented my tiny travel trailer around Thanksgiving during my HOMELESSNESS.

[@Purpleangel7]

You know I signed that NDA one time when I was giving my ideas to a patent company. Then about two years later I see my invention made😭😭😭 I didn’t work with the patent company because they wanted too much money upfront

[@inventRight]

What makes you think there is a correlation between those two events? It's possible but highly unlikely that they are related. Watch this video. It addresses this exact same topic. kzbin.info/www/bejne/anbIp3-VZ96GnaMsi=zRzZf7yIItCOBJJs - 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/ )

[@Purpleangel7]

🙏

[@inventRight]

Thanks. 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/ )

[@MakerMark]

You guys need an audio engineer to level out the audio on these videos. One person is faint one is loud. Then the next video is loud or the music is way higher than the voice.. gosh hard to listen to...

[@inventRight]

Thank you!

[@ShanunShelton-l9v]

❤

[@scottgardner1934]

I want to report that you guys are great. Lol

[@JCleanerS]

What if I need more then average help?❤

[@inventRight]

What do you mean by average help?

[@thenewpathmedia]

I created an amazing board game and need help. I’ve manufactured a small order from China to play test, but now I’m stuck. Need help bringing to the world.

[@inventRight]

You should consider getting help.

[@ShanunShelton-l9v]

😊

[@samspianos]

I only have one idea to sell

[@inventRight]

That’s great!

[@CastleWave]

IF YOU MAKE YOUR PRODUCT ONCE IT WAS NO LONGER INTERESTING BUT KNEW IT WAS A NEED.

[@shannonstewart4792]

I really wish your videos match your titles. The two of you waste so much time debating back and forth and having fun. THEN, the constant ads make it difficult and frustrating to watch. Please be more direct and concise with the content in relation to the videos title. I'd like to know HOW to license my patented product POST covid? Are sale sheets STILL the industry standard? Who should you send them to? How to send them Fedex or email. Do you need a demonstration video, etc.

[@inventRight]

Thank you for watching!

[@Milwaukeemoto]

They need to be entertaining and informative not your direct teachers on youtube

[@RefreshingJohn]

For every solution concept, there are many embodiments that can achieve the same results or solve the same problem. So, structurally, its not difficult to have an embodiment but if other structures can achieve the same results, such that one set of claims cannot cover all these embodiments, then its hard to have a strong patent. Is this a common problem facing most inventors? If so, whats the solution to resolve this bottleneck?

[@inventRight]

Everybody worries about Patents. Most products on the market or not patented. You don’t need a patent to License your product idea. In fact, most of the products that we see get licensed there’s no issued intellectual property. And yes, someone can always work around your invention.

[@inventRight]

Do not let patents stop you from going forward.

[@RefreshingJohn]

@@inventRight I am in singapore. Any way i can get help?

[@inventRight]

We have students and over 65 different countries. Please reach out to us if you need help at [e-mail]

[@bobbynorth6387]

you guys are good!!

[@inventRight]

Thank you so much!

[@inventRight]

Thanks Bobby! 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/ )

[@bobbynorth6387]

@@inventRight am [trying] not say something rude to these people;i read thier contract i signed??crap!! nice if they gave me a list to call geeezz!!thow me a bone here people; throw me some scraps here??am i supposed get of hold of people'companys??? went to hasbro; submitted my tables thier??wtf is going on???i lose my temper they might tell me goodbye!!geeezzz ha ha

[@bobbynorth6387]

@@inventRight am a old vet;rasied two kids on my own;i got a temper!! ha ha

[@annneikajeancharles9261]

A bird into a tree? 😂 (don’t ask me why that’s the only thing I captivated)

[@inventRight]

Cool. 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/ )

[@suggesttwo]

Mike Partney venture capitalists.

[@inventRight]

I don’t know Mike.

[@elaineadolph1333]

[@bsdiceman]

First

[@inventRight]

Nice!

[@inventRight]

Thanks Brandon! - Andrew Krauss, inventRight Co-Founder

[@ShanunShelton-l9v]

😅

[@420BudNuggets]

Shoutout to Brazilian women 😂

[@inventRight]

Great!

[@hilldog3450]

Hello:))

[@inventRight]

Hello!

[@inventRight]

Hey Hill Dog. Thanks for watching! - Andrew Krauss, inventRight Co-Founder

[@karthik5959]

Hi, I have sent you an email, kindly guide me on my ideas

[@inventRight]

Reach out to use using this link. - 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/ )

[@zeeshankhan33733]

andrew and stephen.. respected SIR/MENTOR,S i have a question it might be silly... but today i was thinking. why there are no big names other than INVENT right. for this specific category..like inventing and licensing mentors .. is it still worthy in 2023? as we see if any other trend comes to market, for example. cryptocurrency. hundreds of trading platforms . hundreds of training platforms..comes to market.. but there aren't any other name ..is this field of invention and licensing is still alive today ??

[@inventRight]

That’s a very good question! Product licensing is on fire! Open innovation is growing by leaps and bounds. Here’s a link of a few products that are for sale that I’ve been licensed. inventright.com/buyers-guide/

[@inventRight]

Also note, most people want others to do the work for them. At InventRight we require “you”to do the work with our support and education.

[@zeeshankhan33733]

​@@inventRight waow... i have seen the list of inventions....simply i would say amazing... invent right= ( stephen/andrew ) you guys are precious gems...

[@inventRight]

Thank you so much! Andrew and I love this business. We also love when people are successful. Thanks for watching!

[@AyanlehAhmed-rp1bs]

@@inventRight I have emailed couple of companies including new soda which accepts kitchen gadgets and also Marc portney but I haven’t even had a no or yes from them . I what should I do? Sometimes even a no actually makes me happy because it shows that they took there time seeing if it was worth the shot

[@bobbynorth6387]

yea [forsalebyinvento]r out of pa;yea they got me for $ 12000 grand; my [robotables] coffee tables that run around your house??thses people never call or throw me a bone;nothing;geezer its just sits thier on their web page dyeing of loneness'yea you were right?? crap!! i got go hustle up some companys that might want to look at them??great!!

[@inventRight]

It’s always important to do your homework on any company you plan to work with. Thank you for commenting.

[@bobbynorth6387]

@@inventRight yea your so right on that!! geeezz!!