Bringing any product to market requires persistence, problem solving, and creative thinking. I'm a lifelong entrepreneur who has been commercializing my ideas for products my entire career, mostly through licensing. I've also experienced the extreme highs and lows of...
So, You’ve Been Knocked Off. Congratulations!
In her article "The Real Danger of Going on 'Shark Tank': Copycats" for the Wall Street Journal last weekend, writer Ruth Simon documents the consequences of going public with your product idea. If it's promising, it will be imitated quickly... and even if it isn't,...
You Don’t Need a Patent or a Prototype to License an Idea
To put it simply, licensing is renting your idea to a company. Typically, this company is already in business, meaning they are manufacturing, marketing, advertising, and distributing products. Most importantly, they have shelf space in retail stores. The beauty of...
Why Your Patent Is Probably Worthless
Getting a patent issued typically costs at least $10,000 and can easily cost upwards of $20,000. Most inventors who patent their inventions hope to get their money back after their invention begins selling in the marketplace. In reality, it rarely works like that. A...
Are You a High-Maintenance Inventor? Don’t Be.
One unsung strategy for protecting your ownership of your invention ideas is simply being ... reasonable. Put another way, that could be rephrased as: Don't give anyone an excuse to work around you. Companies don't want to work (let alone partner) with...
Why Patents Don’t Stop People From Stealing Your Invention
I used to believe that patenting an invention meant no one could steal it from me. This was when I was new to the intellectual property game, and naïve. Soon enough, I discovered that’s not the way patents work. It was 2003, and spring in San Francisco. I remember...
Why Independent Inventors Are In Danger
When I finally had my day in federal court, it was bright and sunny in San Francisco. After three long years, I was going to get to defend my patent rights. When someone infringes on your intellectual property, you become quite emotional. My packaging innovation was...
Don’t License That Idea Yet! 17 Signs You Might Be Working With the Wrong Company
As is true of everything in life, things can and do go wrong during product development. Whether you're venturing or licensing, you will need to work with other people and companies to grow your business. So, how do you decide who to work with and who to pass on? Few...
Time is the New Money. Are You Broke?
When did you last think about why you're working so hard? Or about what is motivating you to put in such long hours at the office? If the answer is simply "to make more money," you might want to reevaluate your goals. Is it money you're truly after--or contentment?...
It Turns Out, Fear is Your Best Friend
For years, my advice to entrepreneurs has always been, “Don’t quit your day job.” Recently, I’ve come to think more deeply about that advice and its implications. I’ve been reflecting upon how my peers and I have achieved success. And I’ve realized that there’s only...