How Licensing Negotiations Really Work
Licensing negotiations are not what most inventors think. Learn how negotiations really work with inventRight Negotiation Coach Paul Sorenson.
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More about inventRight
How do you license an idea? How do you patent an invention? Learn how to become a profitable inventor and earn passive income from your creativity following the advice of inventors Stephen Key and Andrew Krauss.
They are world's leading experts on how to license a product idea. If you have an invention idea, this is the show to watch. Stephen Key and Andrew Krauss are the cofounders of inventRight, a coaching program that has helped people from more than 65 countries license their ideas for new products. www.inventright.com
If you have questions about how to invent, how to be creative, design, how to do market research, prototyping, manufacturing, negotiating, pitching, how to sell, how to cold call, how to reach out to open innovation companies, licensing agreements, non-disclosure agreements, patents, copyright, trademarks, and intellectual property in general - subscribe to inventRightTV!
New videos every week, including tons of entrepreneur success stories. Inventing can be lonely, but you don't have to go it alone! Join the inventRight community for priceless inventor education, mentorship, support, accountability, hand-holding, honesty about the invention industry, and so much more.
Contact us at #1-800-701-7993 or www.inventright.com/contact.
This is the book you need to license your product idea: “One Simple Idea: Turn Your Dreams Into a Licensing Goldmine While Letting Others Do the Work.” Find it here: amzn.to/1LGotjB.
This is the book you need to file a well-written provisional patent application: “Sell Your Ideas With or Without a Patent.” Find it here: amzn.to/1T1dOU2.
Determined to become a professional inventor? Read Stephen's new book "Become a Professional Inventor: The Insider's Guide to Companies Looking For Ideas": www.amazon.com/gp/product/165...
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Пікірлер: 51
Very fun and helpful coach thank you Paul for all your help
Thank you so much for this info Andrew & Paul .
@housetourone
3 жыл бұрын
Your welcome Kaz!
thank you, very helpful information as always.
@housetourone
3 жыл бұрын
Thanks Atitorn!
Paul is the best!
@inventRight
4 ай бұрын
Yes he is!
Would you do a video on specific clauses? I’m specifically thinking of a buy-back clause, an amount of money to buy back your licence to sell it to a bigger player. It seems extremely hard to present to a company. Also regional exclusivity clause so you could reach out to different players in different markets. Thanks I love your videos there’s always something to learn!
@housetourone
3 жыл бұрын
Yes, i agreee "Buy Back" clause is a tough one to get approval on.
@zrtgvbnjkop
3 жыл бұрын
@@housetourone thanks for the reply Andrew, It’s quite a pickle!
Great stuff as usual!!
@housetourone
3 жыл бұрын
Thanks as always "Scuba Steve"! It's always great to have you on the live Q&A streams. You always have great questions.
@scubasteve7638
3 жыл бұрын
@@housetourone Greatly appreciated and greatly appreciate all the knowledge you all put out. Wether it's your classes or the tons of free knowledge you put out online you guys are definitely my #1 source and recommendation.
Thank you, Andrew for introducing Paul Sorenson. This encourages me to finish setting up my invention. I am a little nervous. I will be contacting your staff at InventRight. I'm not to savvy on how the phone technology works to get on video. I see how you talk to people and that's what I'm not knowledgeable about. I want to show my project, to you Andrew, Stephen, Paul, or whomever is available, once I call, I know it will be much easier. Thank you Andrew for your video, appreciating that I watch your videos. It's been a long time since I watched your video. This video with Paul helps a great deal. You're welcome, you encourage me to get my invention to you. Hope to talk with your staff soon. You've encouraged me on working on my invention.....Maggie Sierra
@tfrei3033
3 ай бұрын
How did it go?
Great video! Always wonderful see all the coaches, and Paul is quite a phenomenal asset to have at inventRight!
@housetourone
3 жыл бұрын
Yes. You and me both know that well Courtney. Paul is an amazing asset at inventRight!
Thanks Andrew and Paul 🥇🪙
@inventRight
Жыл бұрын
Your welcome. Keep Inventing! - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
Inventright always provides good content. Do you have a rough idea of timescales from taking a product with a prototype and a drafted PPA inc drawings,seller sheet and description, to the stage where its ready to pitch?
@inventRight
3 ай бұрын
It all depends on the complexity, experience, and work ethic.
@gee3883
3 ай бұрын
@@inventRight I kinda knew it was an open ended question. I'll go think things through, I want to start the programme it's just funds are tight.
@inventRight
3 ай бұрын
We completely understand.
I am patented, prototyped and ready to ... I found a company willing to manufacture and handle fulfillment with a PREPAID order of 5k units or more. My question is, should I launch a campaign to go the way mentioned above, or try to find a licensing deal?
@inventRight
2 жыл бұрын
Hi Kimmarie, Finding a company to manufacture and fulfill is a very small part of venturing. I've seen so many inventors get themselves in over their heads by not looking further down the path they are taking. With licensing the risk is all on the company you license to. - Andrew Krauss, inventRight Co-Founder
@kimmariecooper1869
2 жыл бұрын
@@inventRight I spent yrs trying to license. A bunch of no's. I'll need sales to prove viability I am told
Can you point me to a video where you make sure you aren't going to get ripped off? I'm pretty confident in my product but how do I stop a company just taking my idea?
@Alessandro37121
11 ай бұрын
Get a patent first and then start contacting companies
Hi Andrew Nd paul can you record your conversations of you and you prospective licensee thanks
@inventRight
2 жыл бұрын
What licensee would consent to that? Why not join inventRight and have your own conversations with potential licensees?
👍👍
@housetourone
3 жыл бұрын
Thanks for the thumbs up Arwin!
@arwinsilva490
3 жыл бұрын
@@housetourone Thank you for info Mr. Krauss!
Hi I'm from Australia how do I become a invent right student
@inventRight
6 ай бұрын
Hi, Book a call with us here. inventright.com/contact/ We have a lot of students from Australia. - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
Can you license a product based on an idea and 3D drawings, WITHOUT a prototype?
@inventRight
3 жыл бұрын
Yes. It very much depends on the idea and the industry.
I want to invent, design, search for the parents, ect but get somebody else to do this entire selling process. Is there a video on that?
@inventRight
2 жыл бұрын
We can teach you how to sell your invention yourself. It's easier than you think when you use the right tools.
Do people have to pay extra to talk to him? Or is part of the fee
@housetourone
3 жыл бұрын
Eric, getting help from our negotiation coach Paul is included with our One On One coaching program. There is no extra charge. www.inventright.com/coachingmenu/bootcamp-coaching
What have you helped bring to market? Show proof of products or clients you helped
@inventRight
3 жыл бұрын
www.inventright.com/student-products
Why all the dialogue ...just post a link where we can SEE a fair licensing agreement to both parties??
@inventRight
2 жыл бұрын
All licensing agreements are different. There’s no boiler plate fair licensing agreement. Everything is negotiable. Thank you so much for commenting and watching.
I found this 11 hours from it being posted, my lucky number is 11. Aww yeah
@housetourone
3 жыл бұрын
Thanks for the kind words Jon.
@yelladevil1595
2 жыл бұрын
And I found it 11months 👀👀👀 mine is 11 too 👊👊👊🖤
@jonnupe1645
2 жыл бұрын
The holy numbers! Time to look at angel numbers again 👊
every little info you are giving on your interviews or any of your youtube so-called free info is geared towards your courses! not all can afford your course???
@inventRight
2 жыл бұрын
You can read the hundreds of articles we've published on our website for free here: inventright.com Stephen regularly gives away free downloads of his books. And you can find "One Simple Idea" for free in many libraries. Thank you for watching Fabian.