How Licensing Negotiations Really Work

[@JoseHernandez-mi8bm]

Very fun and helpful coach thank you Paul for all your help

[@zrtgvbnjkop]

Would you do a video on specific clauses? I’m specifically thinking of a buy-back clause, an amount of money to buy back your licence to sell it to a bigger player. It seems extremely hard to present to a company. Also regional exclusivity clause so you could reach out to different players in different markets. Thanks I love your videos there’s always something to learn!

[@housetourone]

Yes, i agreee "Buy Back" clause is a tough one to get approval on.

[@zrtgvbnjkop]

@@housetourone thanks for the reply Andrew, It’s quite a pickle!

[@11scalaw]

Paul is the best!

[@inventRight]

Yes he is!

[@atv24979]

thank you, very helpful information as always.

[@housetourone]

Thanks Atitorn!

[@KimFL775]

Thank you so much for this info Andrew & Paul .

[@housetourone]

Your welcome Kaz!

[@margaritaescobedo841]

Thank you, Andrew for introducing Paul Sorenson. This encourages me to finish setting up my invention. I am a little nervous. I will be contacting your staff at InventRight. I'm not to savvy on how the phone technology works to get on video. I see how you talk to people and that's what I'm not knowledgeable about. I want to show my project, to you Andrew, Stephen, Paul, or whomever is available, once I call, I know it will be much easier. Thank you Andrew for your video, appreciating that I watch your videos. It's been a long time since I watched your video. This video with Paul helps a great deal. You're welcome, you encourage me to get my invention to you. Hope to talk with your staff soon. You've encouraged me on working on my invention.....Maggie Sierra

[@tfrei3033]

How did it go?

[@scubasteve7638]

Great stuff as usual!!

[@housetourone]

Thanks as always "Scuba Steve"! It's always great to have you on the live Q&A streams. You always have great questions.

[@scubasteve7638]

@@housetourone Greatly appreciated and greatly appreciate all the knowledge you all put out. Wether it's your classes or the tons of free knowledge you put out online you guys are definitely my #1 source and recommendation.

[@gee3883]

Inventright always provides good content. Do you have a rough idea of timescales from taking a product with a prototype and a drafted PPA inc drawings,seller sheet and description, to the stage where its ready to pitch?

[@inventRight]

It all depends on the complexity, experience, and work ethic.

[@gee3883]

@@inventRight I kinda knew it was an open ended question. I'll go think things through, I want to start the programme it's just funds are tight.

[@inventRight]

We completely understand.

[@CourtneyLaschkewitsch]

Great video! Always wonderful see all the coaches, and Paul is quite a phenomenal asset to have at inventRight!

[@housetourone]

Yes. You and me both know that well Courtney. Paul is an amazing asset at inventRight!

[@aries6776]

Can you point me to a video where you make sure you aren't going to get ripped off? I'm pretty confident in my product but how do I stop a company just taking my idea?

[@Alessandro37121]

Get a patent first and then start contacting companies

[@davidsandoval2846]

Hi Andrew Nd paul can you record your conversations of you and you prospective licensee thanks

[@inventRight]

What licensee would consent to that? Why not join inventRight and have your own conversations with potential licensees?

[@kimmariecooper1869]

I am patented, prototyped and ready to ... I found a company willing to manufacture and handle fulfillment with a PREPAID order of 5k units or more. My question is, should I launch a campaign to go the way mentioned above, or try to find a licensing deal?

[@inventRight]

Hi Kimmarie, Finding a company to manufacture and fulfill is a very small part of venturing. I've seen so many inventors get themselves in over their heads by not looking further down the path they are taking. With licensing the risk is all on the company you license to. - Andrew Krauss, inventRight Co-Founder

[@kimmariecooper1869]

@@inventRight I spent yrs trying to license. A bunch of no's. I'll need sales to prove viability I am told

[@ericruiz6624]

Do people have to pay extra to talk to him? Or is part of the fee

[@housetourone]

Eric, getting help from our negotiation coach Paul is included with our One On One coaching program. There is no extra charge. www.inventright.com/coachingmenu/bootcamp-coaching

[@FrankMangone-q6r]

Hi I'm from Australia how do I become a invent right student

[@inventRight]

Hi, Book a call with us here. inventright.com/contact/ We have a lot of students from Australia. - 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/ )

[@captainvlog]

I want to invent, design, search for the parents, ect but get somebody else to do this entire selling process. Is there a video on that?

[@inventRight]

We can teach you how to sell your invention yourself. It's easier than you think when you use the right tools.

[@Grejegando]

5:16 Don't businesses always ask you to send them your resume and to tell them whether you've licensed something before? I can't imagine them making assumptions about you solely based on the conversation you're having.

[@inventRight]

No. They can tell whether you know what you're doing based on the questions you ask, the demands you make, and how you answer their questions. Thank you for being a subscriber.

[@Grejegando]

@@inventRight I see. Well, in that case this gives me more confidence to approach them. Thanks for replying.

[@inventRight]

@@Grejegando thank you for watching

[@meetalg]

Thanks Andrew and Paul 🥇🪙

[@inventRight]

Your welcome. 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/ )

[@tchaiquentin]

Can you license a product based on an idea and 3D drawings, WITHOUT a prototype?

[@inventRight]

Yes. It very much depends on the idea and the industry.

[@arwinsilva490]

👍👍

[@housetourone]

Thanks for the thumbs up Arwin!

[@arwinsilva490]

@@housetourone Thank you for info Mr. Krauss!

[@Almonite3-16]

What have you helped bring to market? Show proof of products or clients you helped

[@inventRight]

www.inventright.com/student-products

[@MaySpecials]

I’ve tried emailing a number of times and no reply from inventright ? Disappointed

[@inventRight]

What email address are you using and who are you trying to get in touch with? We're sorry to hear that. Please call our office: [phone]

[@gilbertmartinez6538]

Why all the dialogue ...just post a link where we can SEE a fair licensing agreement to both parties??

[@inventRight]

All licensing agreements are different. There’s no boiler plate fair licensing agreement. Everything is negotiable. Thank you so much for commenting and watching.

[@macksun]

That's scary if you deal with a company and you want to license and the company agrees but have no idea how to go about it.

[@inventRight]

We can help! Negotiating licensing agreements is our specialty.

[@housetourone]

Yes, licensing deals are a tough one at first. We guide our students through it all, and yes.........negotiations are probably the hardest part, however strive to teach our students this skill so they don't need us anymore after they get some real life experience.

[@jonnupe1645]

I found this 11 hours from it being posted, my lucky number is 11. Aww yeah

[@housetourone]

Thanks for the kind words Jon.

[@yelladevil1595]

And I found it 11months 👀👀👀 mine is 11 too 👊👊👊🖤

[@jonnupe1645]

The holy numbers! Time to look at angel numbers again 👊

[@fastcashforex]

every little info you are giving on your interviews or any of your youtube so-called free info is geared towards your courses! not all can afford your course???

[@inventRight]

You can read the hundreds of articles we've published on our website for free here: inventright.com Stephen regularly gives away free downloads of his books. And you can find "One Simple Idea" for free in many libraries. Thank you for watching Fabian.