I watch your videos regularly. I have learned so much from them. I just wrote my own Provisional Patent on 11-11-19 and submitted it to a company myself today based off the great information and advice provided in your educational videos. I submitted thru a online portal also. I talked to the gatekeeper a few times and she was nice each time! I am trying to establishing an great working relationship with the company. I wrote a great sells sheet for a new product developer! The company is inviting developers online to become partners and you can submit more than one product idea thur online portal, which I find to be great! I'm just waiting on a (10 BUSINESS DAY RESPONSE). I believe I have an multi-million dollar product so I'm very excited!!! Just want to say thanks again to you and your whole team for sharing your experiences, advice, and expertise, I will let you know how it turns out! God Bless!

Great gold nuggets here. To highlight my takeaways: Role rehearse with companies you don't plan on working with, use lines like I'll keep calling until I reach you (contextually use this one), where can I send idea or new product submittals?, Check websites to see links where ideas can be submitted, concisely share but don't pitch, diversify your communication relational process (some email correspondence vs phone vs zoom, etc.)

@inventRight

Жыл бұрын

Thank you for watching and commenting. You’re taking good notes! -Stephen

@bre1385

Жыл бұрын

@@inventRight Thank you Stephen! You all are a continuous beacon of motivation in entrepreneurship. I'm excited to reactivate my coaching program. I've been on hold for various reasons but still active with an interesting kitchen idea. I'm hoping to see the fruits of that activity and share the results when I come back :D

Common sense is not so common. You guys have helped more people than you probably realize. Looking forward to starting with InventRight

@inventRight

4 жыл бұрын

True. In entrepreneurship, experience is priceless.

wow .. it had me finally realizing THE WAY I WAS THINKING IS THE REASON WHY MY IDEAS HAVE ONLY BEEN IDEAS.... THNK U

@inventRight

8 жыл бұрын

+Malynda Rumbaugh You're welcome - thanks for watching!

THANKS GUYS!!!!!!!!!!!!!!!!!!!GREAT ADVICE.

Another fantastic, informative video!

Thanks Steven & Andrew.

great advice, thank you Stephen & Andrew :)

Your videos are very helpful. Thank you for your teachings. God Bless

@inventRight

6 жыл бұрын

Thank you Sherese!

Thanks guys !

You , Stephen and Andrew provided some great information on this video that old designers like me forgot, and can use. THANK YOU! Yes, I am using caps for emphasis!

@inventRight

4 жыл бұрын

Love it. Thanks for watching Ray!

Hi Steven and Andrew, Thank you so much for these incredibly informative videos! Question: When you get someone on the phone and they give you their email to send your Sell Sheet or video, do you ask them to please sign my NDA first, even when you have patent pending product (s)? Will companies shy away from that even if it's just an electronic initial sheet? And...if I'm lucky and the Sell Sheet gets excellorated to their team, do they have to sign this NDA as well. Again, product is patent pending. Thank you both again!

Thanks for the video! You guys are very helpful... Stephen I like the reaction, “BOOM i just sent my idea”.👍

@inventRight

5 жыл бұрын

Thanks for watching!

The best tips ever! thank you guys!

@inventRight

4 жыл бұрын

You're welcome!

Happy New Year everyone!

You guys are a wealth of information. It's programs like this that continue to give us 'product developers' hope for opportunities!

@stephenkey3137

8 жыл бұрын

+Employmentlady Employment thank you for watching and listening!

This is hands down the best advice out there on how to sell your idea / invention. It's a $ 0 investment to make a phone call or send an email.

@stephenkey3137

8 жыл бұрын

+A. Wild thanks for watching.

LOVE THIS VIDEO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Morning Stephen & Andrew, I was curious if you had tips on how you track all the moving parts within your business? Do you recommend any all-in-one software programs that track leads, finances, PPAs, market & patens you've researched, etc.?

I'm ready

Thanks for doing this series guys. Slim pickins on youtube for anything in depth on inventing.

@inventRight

7 жыл бұрын

You're welcome :)

Great info gentleman. I have built a prototype that will work on my particular brand (Ditch Witch) of equipment that I use in my business. Other companies in my industry use a different manufacturer (Case, Vermeer, John Deere etc.). My idea can be used on all off these brands but would need to be manufactured differently for each. Should I get a PPA for each or will the one PPA work for all?

@inventRight

8 жыл бұрын

+Jerry Boquette You can include different methods of manufacturing in the same IP - and should!

How do I assemble a list of potential licensees? I have a golf tool for use on the course

@inventRight

Жыл бұрын

Jim, I highly recommend purchasing one simple idea. It outlines all 10 steps. It’s for McGraw-Hill. Also, we have free resources that also outline the 10 steps at inventRight.com Stephen

Massively interested in this procedure. After just recently educating myself on this method via your fab vids, books and website a bundle of ideas have flooded through me eversince. One specific 'development' stands out more than the others and I have a really confident feeling that it could hugely successful. I am going to create my sell sheet, i can confortably build a cheap prototype but my question is.. if I was to release my idea to a globally established company what is preventing them from taking my idea and selling it themselves elsewhere (other countries were I don't have a patent)?

@inventRight

8 жыл бұрын

+Austen Fitzpatrick Thanks for reading! We touch on that topic here: bit.ly/1lsMF1W. You can also set up a call with Andrew to discuss: www.inventright.com/about/what-we-do/request-more-information/

ty

is there anywhere on the internet I can get a detailed list of companies that buy ideas and what there looking for? Thanks for any help!

@inventRight

8 жыл бұрын

+puppetgrimm It's not perfect, but we maintain a list of companies looking for ideas here: www.inventright.com/companies-looking-for-ideas.

Great info! 😁👍

@inventRight

3 жыл бұрын

Glad you think so!

I i buyed you book by the way, i`m halfway and loving it.

@stephenkey3137

8 жыл бұрын

+2nd_PLATOON thank you!

Is Allstar a good potential licensee for pet products?

Hi Stephen and Andrew thank you so much!!! A few companies I called referred me to an online submission page but when I got there there was no place for new products/ideas etc. There was only a place for suppliers to submit forms. Are these companies just too big and not worth calling back? It felt kind of like they were just pushing me along so they didn't have to deal with my questions when they referred me to their online "submission" page. Any ideas?

@inventRight

7 жыл бұрын

Hmm. Yeah that could be the case. You could also try someone else first though before moving on. It's true though - in most industries, it's the mid-sized companies that are really a great fit for licensing. See more on why that is in these articles www.inc.com/stephen-key/midsized-companies-are-your-best-targets-for-licensing-here-s-why.html and www.inc.com/stephen-key/why-aiming-high-isn-t-always-the-answer.html. Thanks for watching!

hi guys, been following a few of your videos and they are really helpful materials as I'm new to the 'licensing industry', my question at this point is what if i have a direct email for the CEO of the company i wish to send my sell sheet to, would i need the CEO to first sign an NDA before forwarding my sell sheet??

@inventRight

8 жыл бұрын

+Tobi Hameed Most people will not sign NDAs right out of the gate - it puts them at risk. The writer of this article summed up why that is well: www.fosters.com/article/20160214/NEWS/160219745. The CEO is not necessarily the person to take your idea to first either because most likely they will send it back down to someone else. (That's not true of very small companies.) Thank you for watching.

This video totally change the game for me! I'm going to "call practice" other companies to see how far i get. lol

@inventRight

8 жыл бұрын

+Julio Galindo That's awesome! Let us know how it goes.

oops sorry hit arrow to fast . but i dnt have the money to get it protected at this time i am positive in knowing its getting close to aomeone else getting the same idea and actually being able to bring it public and thT fear only gets me stuck where i overthink and thats it. I guess the question I'm asking is in dummy terms or import people's charms how would one that don't financially have any backing or financially have any means you have Amazing Ideas get something started or get a comp to make it and finNce the cost until it can be marketed then at that time pY the comp?

@inventRight

8 жыл бұрын

+Malynda Rumbaugh Hi Malynda. The best thing you can do is take a deep breath. And then channel your enthusiasm into research. You've come to the right place! What you need to do is educate yourself. There are an amazing amount of resources online for creative people like you who want to do product development. This will not be your only idea. You don't need a lot of money to do this, though you do need some. (See, How to License Your Product Idea for $100-$200 kzread.info/dash/bejne/nGmrw6mpcdyyj6w.html) Stephen's book One Simple Idea, which lays out how to do exactly what you want to do, is a great starting point. Find it here: amzn.to/1UrvfSP. A lot of your approach will depend on the nature of your idea. Simple ideas are much easier to bring to market cheaply, with little capital, because you are forming a partnership. Please watch our videos.

I have a company that sent me a submitters agreement form to sign , stating to provide a prototype and any patent I have applied for or have in force. Also any written description I may have. I just wanna know is it safe to send them my sell sheet as well as this form signed by me ? I asked them if I can send just me sell sheet they said yes but they also want me to send them this form signed. I just wanna know what I should do . Thanks

@inventRight

5 жыл бұрын

June, we can help guide you through this process. Set up an appointment with our office: www.inventright.com/contact

I have a new plumbers tool do I go to the people whos sell tools or to the people who make them ?

@inventRight

5 жыл бұрын

For licensing, focus on companies with distribution. Our cofounder Andrew Krauss goes in deep here on that: kzread.info/dash/bejne/ZpWL182qlsq5krg.html

Hi Stephen and Andreaw, Do I need to wait for a reply from one company before submitting my sell sheet to another one? Thanks!

@inventRight

8 жыл бұрын

+Fiorella Mete No, except in the case of the As Seen on TV industry - companies in that industry move fast, so only submit to one at a time.

My question is once I have my patent pending, and I'm trying to lease my idea to other companies what exactly am I sending into these companies?

@inventRight

5 жыл бұрын

Good question. We strongly recommend reading Stephen's book "One Simple Idea" to learn our 10-step process for licensing ideas. You can find it in libraries in the U.S. and on Amazon: amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676

I just started reading "One Simple Idea" from my library. Do I even need a business to get royalties or license? Or does it just look good to have an LLC when contacting companies?

@inventRight

8 жыл бұрын

You don't want to sign an agreement in your own name - you'll want to establish a business before then. As long as you have a professional email address, email signature, and voicemail/dedicated phone line, you should be good to start contacting companies and testing the waters.

Hi Stephen and Andrew: Two questions: 1) If you don't have a prototype, how do you make a video of the product to embed into the sell sheet? 2) If you don't want to spend money for multiple provisional patents (because multiple ideas are being sent out), should you still make a sell sheet and contact companies? How vulnerable is your idea to being stolen? Thanks! Your videos are amazing!

@inventRight

8 жыл бұрын

+Paloma L Great questions. Thanks for watching. To make a video for your sell sheet, which we recommend in most cases, you will need to have a prototype, yes. But that prototype doesn't have to be perfect, or anywhere close to it - there are ways of filming and editing your video so that it is effective. Cannibalizing existing products is a good starting place. Creating two prototypes, one works-like and one looks-like is frequently useful. Filing PPAs is a relatively inexpensive way of establishing perceived ownership over an idea. You are more vulnerable, yes, if you haven't filed. But it also has to do with the company and industry. In the past, Stephen would submit ideas without PPAs because he had so many of them, and wanted to see if there was interest first. There are many different strategies and options. Think it through! Good luck. If you want to find out more about our coaching program, give us a call.

@palomalev2783

8 жыл бұрын

+inventRightTV Thank you so much for your reply! It means a lot. You guys are awesome. I've spent my weekend watching all of your videos!

@abdulloisaakoff870

8 жыл бұрын

+inventRightTV What are you reffering to as PPA and IP?

Great advice. I dont feel lost anymore. How do you become a student.

@inventRight

4 жыл бұрын

The quickest way to reach us is by setting up an appointment at your convenience here! www.inventright.com/contact

I bought all your books steven . I called 3m and they told they are not taking any in sources that they are so booked behind with ideas . What do I do . Thanks

@inventRight

5 жыл бұрын

Midsize companies are a much better fit for licensing. Learn why: www.inc.com/stephen-key/midsized-companies-are-your-best-targets-for-licensing-here-s-why.html

Great videos guys, it's great to see people who are so passionate about this subject and willing to help those of us who don't know where to turn. I have idea's, I just don't know where to find licensing companies to approach with my ideas, can you help please?

@inventRight

5 жыл бұрын

Here are some resources to help you identify companies looking for ideas, Darryl: kzread.info/dash/bejne/aIpk2adyYKfKmLw.html kzread.info/dash/bejne/a61tq6aiXdOaoKQ.html www.inc.com/stephen-key/how-to-identify-companies-that-will-want-to-license-your-product-idea.html

Stephen & Andrew, I just subscribed to your youtube site.. i love it!. My question is that I am trying to get my product licensed by a travel bag company. I am hearing back from them that they do their product development in house. How can I get around this? Thanks.....Sam

@inventRight

8 жыл бұрын

+S WT Get someone to check out your sell sheet. If the idea is compelling enough, they might be interested although they normally develop in-house. Some companies are not familiar with open innovation! Good luck and thanks for watching.

@swt3555

8 жыл бұрын

+inventRightTV Thanks Will do!

I want to know how long it is after you pitch your ideas to both telephone and email and start to receive calls back or email? Thank you

@inventRight

8 жыл бұрын

+loc nguyen It depends. Sometimes very quickly. Other companies move slow. Usually you will need to follow up and call/email again to make sure your idea was received and reviewed.

@locnguyen-ol4gu

8 жыл бұрын

+InventRightTV Great! I will need to follow up with them! I hope to save enough money to become a student of yours. :)

Hi Stephen and Andrew, i got another question for you guys. If i have contact with a company that i want to license an idea to and they signed an NDA, do i reveal the idea completely 100% or do i leave out some minor disign updates/improvements and then tell them that, that i have a couple updates/improvements that i don`t want to disclose to them befor they wanna go ahead with my idea? A fan from Holland with ideas.

@inventRight

8 жыл бұрын

+2nd_PLATOON Licensing an idea requires feeling things out and establishing trust. Do you trust this company? Why or why not? How much? There's no one-size fits all answer. Let your relationship evolve. Don't show them more than you need to at any one time, necessarily.

@TheDanielHayes

8 жыл бұрын

+InventRightTV This is a great answer. The process should be based on trust. Thanks.

What about the NDA? Should I worry about sending an NDA before sending my sales sheet?

@inventRight

8 жыл бұрын

+Geoff Hi Geoff. Most companies will not sign an NDA right away, for good reason - they could be working on something similar already. It's better to wait to ask after showing your sell sheet. Note: We are not lawyers, this is not legal advice. More on NDAs here: www.inc.com/stephen-key/non-disclosure-agreements-can-be-powerful-but-only-if-you-know-how-to-use-them.html.

what if I have already done a provisional on my idea at the end of last month. Is it too late to get you guys help? I need help.

@inventRight

8 жыл бұрын

+Faith Hunter It's never too late to get our help. Use this link to set up a call with Andrew: www.inventright.com/about/what-we-do/request-more-information.

Hi! I feel a little bit confused about “I’ll keep calling”. If I encountered such a persistent guy, I would just ignore him. How I do make sure I am not ignored because of my persistence ? Thank you!

@inventRight

7 жыл бұрын

Hi Pavel. Don't overthink it. Follow up, but not so much that you become a pest. Tone counts for a lot. If you're unfailingly polite and don't give up, you'll get in. Good luck!

@sshivaprem

7 жыл бұрын

thank you!

Amy Joe say's something totally different!

@inventRight

5 жыл бұрын

There are many ways of reaching the right people at the right companies to share your sell sheet with. Thank you for watching!

@pamcolechadwell1302

5 жыл бұрын

inventRightTV to bad we have to pay to get those big companie phone numbers! don't you all have enough money!

@inventRight

5 жыл бұрын

Pamela, some exciting news: We have created a database where inventors can access 500+ companies looking for ideas, for free. It goes live later today! Check it out: inventleaders.org

One big doubt I haven't seen in any of your videos, if you have an idea and you are going to pitch an idea to a company, how can you make sure they don't just steal the idea after you show them the product or the video, after they see the product they can just take the idea no? That is a big doubt that holds me and I suppose a lot of people back

@inventRight

5 жыл бұрын

This is indeed a legitimate concern. We have created many, many videos (as well as articles) that describe ways of protecting yourself. There is no short and simple answer. You need to get informed, plan ahead, and make smart choices. Some of our advice: www.inc.com/stephen-key/how-being-reasonable-helps-protect-your-great-idea.html www.inc.com/stephen-key/30-ways-to-protect-your-product-ideas.html www.forbes.com/sites/stephenkey/2018/01/31/considering-crowdfunding-16-ways-you-can-fight-back-against-copycats/#4a8980b66d9f We can help you: inventright.com/contact

So what happens when they say”thats a dumb idea” then you see it in the store.

i do have idea id like to see n

Patents = Assets.

@inventRight

5 жыл бұрын

Many patents are worthless: www.forbes.com/sites/stephenkey/2018/10/11/how-to-avoid-having-a-worthless-patent/#77de74e4136f