Licensing Library
Truthtelling
18 articles in this category.
Truthtelling
The Pros and Cons of Hiring a Middleman to Help You License Your Invention
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 starting...
Truthtelling
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......
Truthtelling
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...
Truthtelling
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...
Truthtelling
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...
Truthtelling
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...
Truthtelling
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...
Truthtelling
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...
Truthtelling
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...
Truthtelling
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...
Truthtelling
Don't Let These 5 Excuses Stop You From Bringing Your Product to Market
I’ve heard every excuse in the book from my students about why they’re unable to turn their ideas into reality. But the only way to succeed at becoming an entrepreneur is to have the courage to take that first, small...
Truthtelling
Don't Delude Yourself. These 3 Common Behaviors Hold Your Business Back.
There are some bad behaviors that are so commonplace and easy to fall into, we’ve come up with seemingly reasonable excuses for them. I’m a critical thinker, you tell yourself — when in reality, it’s that you’re resistant to change....
Truthtelling
Confessions of an Entrepreneur During the Holidays
I have a somewhat unpopular confession to make: I hate the holidays. From what I can tell, most people look forward to enjoying their time off. They are eager to have a few days to themselves, to set their intentions...
Truthtelling
The Good and Bad of Being an Entrepreneur
I’ve been an entrepreneur for more than 30 years. It’s been a wild ride. I became an entrepreneur because the idea of working for someone else never sat well with me. I have always wanted to be in charge of...
Truthtelling
The Number-One Mistake Product Developers Make
A few weeks ago, I had the pleasure of attending a new competition for inventors that was held in Kansas City. Teams participating in Make48 had just two days to bring one of their product ideas from conception to fruition....
Truthtelling
In Business, These Are Actually Your Best Friends
Some entrepreneurs act as if everyone is out to get them. I strongly oppose that mentality. It’s wise to assume that everyone you do business with is self-interested, because, well, that’s true of people in general. Instead of living in...
Truthtelling
11 Truths About Being an Entrepreneur
I read an article in the Huffington Post recently that inspired me to tell it like it is. The article broke down some of the myths that continue to be perpetuated about entrepreneurism, like how to “get rich quick”. I...
Truthtelling
The 4 Biggest Mistakes Inventors Make
Bringing a product to market isn’t for the faint of heart. Persistence, flexibility, and self-education are critical. I feel incredibly fortunate to have been mentoring inventors for more than 15 years now. At every turn, their ingenuity impresses me. I...
