Secured a licensing agreement with inventRight coaching support
How inventRight coaching helped Laura license her compression-stocking removal device
Ireland-based inventor Laura T. worked with inventRight coaches to set clear goals, prep outreach, and navigate negotiations. A cold call she made — after practicing with her coaches — opened the door to a U.S. aids-to-daily-living company, leading to an exclusive five-year licensing agreement covering the United States and Canada. With the contract signed, she’s already moving on to her next project.
“My name is Laura T. I live in Ireland and my product is a device that helps people to remove compression stockings.
On the 1st of October 2017, I signed an exclusive 5-year licensing agreement with a USA manufacturing/distributing/wholesale company that sells Aids to Daily Living (ADL) throughout the the USA and Canada.
I would not have got this deal done without the expert help of the inventRight coaches. Having been through this process themselves, they had very practical expertise to offer.
The coaches kept me focused and helped me set achievable goals to keep my project moving and get the contract over the line. Some parts of the process are easier that others; I found the cold calling stage the most difficult.
When I get nervous I start to speak a bit faster, so on my first few calls to American companies I must have sounded like a leprechaun on speed! But as uncomfortable as it was, my coaches assured me I was the right person to make the calls, since I know my product better than anyone. And they were right.
The more calls I made, the easier it got – and it was a cold call that got me in the door of the ADL company. It took six months of negotiations from that first initial call to signing the contract.
The inventRight coaches were with me every step of the way. I can’t thank inventRight enough. Everyone on the team is so helpful.
I am now ready to start on my next project!”
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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.
