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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
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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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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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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