Why Join inventRight?
What is it like to go through the process of licensing your idea with an inventRight Coach?
I’ve been licensing my ideas for new products for more than three decades because I discovered a process that worked. In 2000, my business partner Andrew Krauss and I cofounded inventRight to teach that process to other inventors.
We made a commitment to help everyone in the inventing community become more successful at sharing their creativity with the world, not only our paying members. We’ve made good on that commitment by publishing nearly 900 videos on our YouTube channel inventRightTV, 1,000 articles for leading magazines, five books, and countless stories on social media.
And yet, despite this extensive volume of resources, we hear from very few people who are able to license their inventions on their own. It does happen, but it’s rare. When people notify us that our resources have helped them by laying a foundation, we are always extremely appreciative and excited.
People often ask me, “Why should I join inventRight? I’ve learned so much already. What am I going to learn that’s different from your videos, articles, and books?”
It’s a good question — one I’ve thought long and hard about.
I look at it this way.
Anyone who has become a professional in a given field — be it plumbing, electrical engineering, medicine, construction, law, therapy, or otherwise — has received formal training. They’ve gone to school for many years. They’ve had internships, apprenticeships, teachers, mentors, and sometimes a coach. They became a professional by being educated by other professionals.
Learning how to license your ideas professionally is no different.
The other day, I spoke with an inventor who was new to inventing and had a great toy idea that he was going to be pitching to Mattel and Hasbro the following week.
I gave him the following analogy.
It’s as if just last week, when you were playing football in your backyard with your friends, you realized, “Hey, I’m pretty good at this! I really like it.”
The next thing you know, you’re in the NFL playing Super Bowl Sunday.
That’s an impossible trajectory, right?
It doesn’t matter how great your idea is. To design, patent, and license a successful product, you have to be able to work with these companies like a professional so you are perceived as an asset and not a liability. You cannot expect the companies you share your ideas with to teach you how to go from being an amateur to a pro.
Negotiating a win-win licensing agreement isn’t something you can learn as you go. There’s no one-size-fits-all formula that you can find in a YouTube video or a book. It is a dynamic process that is taking place between several parties.
That’s why you need to be able to speak the language of licensing. That starts with being able to identify the right companies to approach. Then, you need to be able to market and protect your idea correctly. During the negotiation process, which begins long before an actual contract is in play, you must be reasonable, which requires familiarity with the process.
Getting a licensing deal is all about taking away risk, and being a complete novice is a risk.
So, why join InventRight? As you can see in the reviews on our Testimonials page, we are the best in the field of product licensing. We know, from experience, all of the little details that are required to get a licensing deal done. We’ve been behind-the-scenes helping our members do just that for over 20 years.
Getting a coach means you are working with someone each week towards manifesting your goal. You have a person in your corner who knows how to do what you want to do correctly — and concisely.
The whole process sounds very simple. And in theory, it is. But every situation is different because every company you’re going to submit your idea to is going to be different as well. There’s going to be a lot of back-and-forth, a lot of questions and concerns and obstacles along the way. You’re going to need someone to help you answer those questions correctly and in the right sequence. It’s extremely fluid.
We know our coaching program works we have 20 years of testimonials and the success to prove it.
If you’re truly serious about becoming a professional, you need to invest in yourself. You need to take the time to learn the correct steps.
I know this is true because I didn’t get to where I am today without having a mentor. I struggled for many years, like every other inventor.
We’re here to help once you make that decision to become a professional inventor. — Stephen Key