Thank you Andrew. You always explain things so clearly.

I have closely reviewed multiple IR videos (by Stephen and Andrew). I find all relevant, timely, and their experiential commentary and content collectively - immediately elevates licensing 'do-ability' factors. Michael D. Moberly - kpstrat - St. Louis

@inventRight

4 жыл бұрын

Thank you for the awesome feedback!

Great info.. Making it less confusing makes for a better path.....

@housetourone

6 жыл бұрын

Your welcome Wayne!

Well there is one thing you guys should make a video on, how to gain recognition through your ideas.

thank you Andrew :)

@housetourone

6 жыл бұрын

You are very welcome Angelina!

I need to know how much royalties is good and how to write to the company

Thank you!!! Very helpful

@inventRight

Жыл бұрын

I’m so happy you enjoyed it. Please subscribe if you haven’t already. Have a wonderful weekend. -Stephen

I am new in this field, what is the normal practice of verifying the sales quantities? Will some accountant will sign and proof it? Thanks

@inventRight

25 күн бұрын

Of course, and you have the option to audit them.

In Board-games Design Patent , they are not even worth the cost. Copyrights (trademarks) are usually preferred. Again , thanks for helping the inventors/designers community . Keep up!

@housetourone

6 жыл бұрын

Vaibhav, You are absolutely right. For board games, copyrights and trademarks are the way to go 99% of the time. Great advice! I say that all the time.

What if I want all money deposited at once on the spot if deal is made?

How does the licensor verify the number of units sold and the earned royalties are what they should be? I can’t imagine you just take their word. Just bought the book, look forward reading it.

@inventRight

5 жыл бұрын

How to Make Sure Your Licensee Is Paying You What You're Due www.inc.com/stephen-key/how-to-make-sure-your-licensee-is-paying-you-what-you-re-due.html

@FishBaitBlue

5 жыл бұрын

inventRightTV thank you. Just got to that part of the book too. Auditing

So does the licensor have to pay the licensee initially... and then the licensees will pay their fees or royalties to the licensor based on what they sell?

@inventRight

5 жыл бұрын

In a typical licensing deal, the licensor is paid a royalty per unit sold. Sometimes you can negotiate some money upfront. Check out "Calculating What You'll Get Paid For Your Idea (Royalties Part 1)" kzread.info/dash/bejne/kax8kpdmk8bZh7w.html

On minimum guarantees, can you share how minimal is “very minimal” the company pays the licensor ? Based in your experience, if it’s ok? Thanks!

@inventRight

6 жыл бұрын

Calculate how many stores they're in and estimate if they sold one unit of your product per week. Any less than that, and its likely to be dropped. That gives you a starting point.

How is a licensing agreement different from a franchise? They sound very similar.

In your opinion, what is THE best licensing agreement for a 5 year term, on a product that will wholesale for 2.50 and retail at , say 4.99 ?

@inventRight

2 жыл бұрын

There isn't one. There are a lot more factors to consider than just these numbers to achieve a fair and balanced licensing agreement. Context is extremely important, which is why no two licensing agreements are the same.

So if the company is selling your product, can you still sell your product as well? Or does the company get all rights to your invention? I am so confused. Also how much are royalties usually and what is usually the minimum? Please respond 🤞

@1stPrinciples455

3 жыл бұрын

I am no expert but have seen many cases where inventor can continue to sell licensed product on his own

How to License from prior art inventor ? 2nd question: Given a world of copycats, if licensor has no IP, others can still copy his product even if licensee honors the agreement. So how?

Hi😊...I need big help.I would like to know would a company sign a licensing agreement with you just on the details you provide regarding your idea/ invention, as I am horrible at drawing & was barely able to sketch out my idea. I so confused in regards to where I can turn on my many ideas/ inventions. Do I write to a company off the back & provide every detail to my design/ idea, if they are not patented? Thank you for your help in advance.

@inventRight

4 жыл бұрын

Hi Aya. You don't have to be great at drawing to license an idea. Have you read our cofounder Stephen Key's book "One Simple Idea"? That's a great starting place.

@ayamore8885

4 жыл бұрын

@@inventRight I have not & thank you for responding.I will search for it.😊

I'm trying to figure out how I can get paid for my idea to physically combine two existing products into one. I'm hesitant to go get them physically combined for exhibition because of my not owning neither product. I know they will work together because I have seen and used them together although they were separate. Please help. I've known about this for over 20 years and nobody has even come close to this hybrid.

@Kmakmizzle

3 жыл бұрын

This is no help at all. Why doesn't anyone answer?

I have a question who provides the licensing agreement a licensor or the licensee

@msohniner

3 жыл бұрын

Licensor

@Kmakmizzle

3 жыл бұрын

@@msohniner - Is it possible to capitalize off of combining two products into one if you don't own either? Am I supposed to tell one of the owners under a NDA? Must I get a prototype made? Will a NDA allow me to hire someone to fashion the working prototype? It says they cannot alter anything and come out with any type of alternate version but what's to stop them from giving it away before I even get the working prototype?

From a business perspective, if you have your patent, can leverage social media for advertisement & fulfillment services like amazon for shipping and customer service, why would you want to license a product.

@inventRight

5 жыл бұрын

There are so many reasons to consider licensing instead of venturing. Namely, it's a lot less work. Here are 18: www.inc.com/stephen-key/18-benefits-of-licensing-your-product-ideas.html

ay he's using the idubbbz music as the intro

💗

@housetourone

6 жыл бұрын

Thanks for showing the love and encouraging me to continue to do these videos Donna!

@donnabeattiedreamerbydesign

6 жыл бұрын

Going to see my prototype demo to me tomorrow 😊 exciting 🌌🌠👍

What is difference between licence and patent ? Do you patent idea ?

Can you licensing my book, anything? Are you a real lawyer?

POV: you’re in marketing class

hes stoned

Wasn't that helpful

@inventRight

Жыл бұрын

Thank you for the feedback. What info are you looking for?