Licensed His Product with inventRight’s Coaching Support
How expert invention licensing coaching helped Ed license Jug Buddy
Ed Foster had an interested company but needed licensing know-how. With one-on-one guidance from coaches Paul Sorenson and David — covering contract language, sensitive terms, and negotiation strategy — he finalized an agreement and set up a strong working relationship with his licensee. He also used the coaching to advance several other napkin-stage ideas toward market readiness.
“My son-in-law, Nehemiah, found inventRight for us when we were just beginning the licensing stage for our product.
We had connected with a company interested in producing and selling our product but we had no knowledge of licensing contracts and agreements. inventRight was terrific!
Paul Sorenson and David Fedewa were great mentors. They helped us not only with the contract language, but with how to approach various ‘touchy’ subjects and what to watch out for within the contract. This was David’s specialty.
It took several months, but in the end we have an agreement and positive relationship with our licensee. What happened in tandem with our contract talks were training sessions to develop many other ideas I had from the ‘napkin’ stage to the ‘ready for market’ stage.
Paul’s wealth of knowledge comes from his personal experience in product development. These guys are great!
I only wish I had been a bit better prepared for the training. Our product rolled out last weekend at the Chicago Housewares Show.”
Learn how inventRight can help you take the next step towards licensing success.
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inventRight Gateway is for entrepreneurs who want to scale distribution of their products as well as inventors who are seeking to commercialize their intellectual property.
