What to Say When Companies Ask to See Your Prototype

A company is interested in the product idea you submitted to them! Awesome. What do you do next? Is it time to send a prototype? Stephen and Andrew respond to a call that came in from a viewer about this subject in this video. For more info: inventright.com.

Пікірлер: 112

  • @brrryan2908
    @brrryan29088 жыл бұрын

    I love you guys! You are doing a HUGE service, just by giving encouragement! Do you know how much that matters? TONS!!!!!!!!!!! Thank you, thank you, thank you.

  • @inventRight

    @inventRight

    8 жыл бұрын

    +fineartphotographybryanatneosen Thank you for the kind words! Means a lot.

  • @Annazumi

    @Annazumi

    5 жыл бұрын

    Ditto!!!

  • @James-bl7wb

    @James-bl7wb

    3 жыл бұрын

    I'll agree, over the past 2 years that really is the most important part. No matter how many times we "fall of the wagon" in life, we can come back to these videos and get going again.

  • @Songs2SharecomVideos
    @Songs2SharecomVideos6 жыл бұрын

    Got a Provisional Patent and applied for Trademark - Now to market! I'm following your KZread. Got the Sell Sheet hot and ready to go! Thanks for your book & all your videos! Cheers+++

  • @inventRight

    @inventRight

    6 жыл бұрын

    Good for you! You're welcome. Thanks for watching.

  • @globalguy5108
    @globalguy51088 жыл бұрын

    They have an awesome licensing program! Recommend it highly! I couldn't have progressed forward without their knowledge and mentoring. Their videos are great too.

  • @josephmunoz6704
    @josephmunoz67047 жыл бұрын

    your videos and books are very very helpful. I started contacting potential licensees yesterday Thanks a lot guys

  • @inventRight

    @inventRight

    7 жыл бұрын

    Thanks for watching! Now you're in the game!

  • @suanuadamgbo6654

    @suanuadamgbo6654

    6 жыл бұрын

    Joseph Muñoz. Did you get a deal?

  • @jamesgraham6796
    @jamesgraham67965 жыл бұрын

    S.C.O.R.E. is a good resource for experienced and knowledgeable individuals that can offer help.

  • @StephenMattison66
    @StephenMattison667 жыл бұрын

    Great video, great info! I love Mr. Key's energy, tone & detail, very reassuring and motivational! *TYVM!*

  • @inventRight

    @inventRight

    7 жыл бұрын

    Thank you for watching and the kind words.

  • @kathyrepak8333
    @kathyrepak83333 жыл бұрын

    This video really helped me. Bc I have no money thought I had to have prototype in hand. You guys are the best.

  • @traceymiller1969
    @traceymiller196911 ай бұрын

    Love these webinars!! Thank you 😊😊

  • @inventRight

    @inventRight

    11 ай 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/ )

  • @CourtneyLaschkewitsch
    @CourtneyLaschkewitsch4 жыл бұрын

    Is that a Hot Picks guitar in the background? So cool!!! Great distinction between Licensing and Venturing. Thank you for shining the light on the product commercialization world!

  • @DIFTHEGIFT
    @DIFTHEGIFT5 жыл бұрын

    this saved me so much stress you guys are amazing

  • @inventRight

    @inventRight

    5 жыл бұрын

    That's awesome to hear! We have many more resources on our website inventright.com. Stephen is also a best-selling author: www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676 Keep inventing!

  • @spiritwithcreations1171
    @spiritwithcreations11714 жыл бұрын

    Wow! Your both so so so kind hearted! anyone can see that you both just want to help :) I'm new to the channel from today, can tell I am gonna learn loads from your video's. Thank you so much! Brett

  • @inventRight

    @inventRight

    4 жыл бұрын

    Thank you for watching and the kind words Brett!

  • @jesseowings976
    @jesseowings9765 жыл бұрын

    I just love you both! I have found myself binge watching you

  • @inventRight

    @inventRight

    5 жыл бұрын

    Awesome!

  • @cryptopirate8880
    @cryptopirate88805 жыл бұрын

    Love your black glasses looks great with all your gray buddy

  • @firstbornbirdman
    @firstbornbirdman6 ай бұрын

    Appreciate the great advice guys. I plan on joining your organization. Definitely worth my time, money and energy.

  • @inventRight

    @inventRight

    6 ай бұрын

    That’s wonderful. We’ve got a great promotion this month. Please visit our website. InventRight.com Happy holidays!

  • @freespeech4all723
    @freespeech4all7236 жыл бұрын

    Great show! A great invention!😂lol

  • @BulletSpoung
    @BulletSpoung7 жыл бұрын

    I'm one of the lucky ones, coming up with good ideas is the easy part for me. I feel that luring the process is a bit intimidating and I'm not the type that's easily intimidated. I'm retired from the rail road and did all sorts of things during the years I worked. So I'm able to make most prototypes and fabricate almost anything. I have something in the works that will be of interest to several large company's and I already have a completely finished, working and tested prototype (conceived, built and tested in three months) that I will keep no mater what happens, it's that bad ass. This is my first time and I find everything a bit confusing, so thanks for everything I have learned from both of you. Yes I do take notes and I'm working on a list of the most important things, so I can have them tattooed on my left arm so I can look at them as if look at my watch.

  • @joebisping6799
    @joebisping67996 жыл бұрын

    Awesome videos guys! I just found your channel. I have invited my first product and it has been sitting in my garage for almost two years because I thought I was crazy for thinking I may have a chance at a license. After finding your channel and the encouragement from it I have decided to move forward and try. I have a meeting this week with a patent attorney. I'm excited and wanted to say thank you for your efforts with your channel. You guys are great and easy to listen to. Thanks, Joe Bisping

  • @inventRight

    @inventRight

    6 жыл бұрын

    That's great to hear! We strongly recommend you consider reading Stephen's book "One Simple Idea," which is the how-to guide you need. You can find it on Amazon and in local libraries. Thanks for watching!

  • @joebisping6799

    @joebisping6799

    6 жыл бұрын

    +inventRightTV Yeah I have ordered it already. Should be here Wednesday. looking forward to reading it. Thank you!

  • @juliomartinez4792
    @juliomartinez47924 жыл бұрын

    Experience helps very much. You are good at it. Videos are good. I am going to buy the book : One Simple Idea. Keep up the good work. Thank you guys !

  • @inventRight

    @inventRight

    4 жыл бұрын

    We appreciate your support!

  • @freespeech4all723
    @freespeech4all7236 жыл бұрын

    I'm working on my prototype this weekend. Only cost 5 dollars. A big company can do it for 3. Whoo...hooo!

  • @LincolnMario2017
    @LincolnMario20178 ай бұрын

    Love you guys more than you could ever know ❤❤

  • @inventRight

    @inventRight

    8 ай бұрын

    Wow! Thanks so much!!!! 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/ )

  • @TheVerengena
    @TheVerengena6 жыл бұрын

    Thanks to you guys , I have a PPA

  • @laurarance4352

    @laurarance4352

    3 жыл бұрын

    How did you go about getting the ppa

  • @arminag3827
    @arminag38275 жыл бұрын

    im sooooooooooo much glad u make this videos oh man u really helped me. thank u soooooo much

  • @inventRight

    @inventRight

    5 жыл бұрын

    Thanks for watching!

  • @SomnoNaut
    @SomnoNaut6 жыл бұрын

    Is offering a video describing the idea and its use something to do up front or a first s tep when they ask for protoype?

  • @metzlerwelding5403
    @metzlerwelding54035 жыл бұрын

    Love you guys

  • @shawnduncan2639
    @shawnduncan26394 жыл бұрын

    Round 2 watching all the videos.

  • @paulakjmayberry4048
    @paulakjmayberry40483 жыл бұрын

    You both look so "embarrassed" when you have to repeat that the person said they dont have the money!!!😂😂😂 Your faces are priceless....I'm laughing WITH you here, not at you!

  • @camillexifaras4804
    @camillexifaras48048 жыл бұрын

    Hi my name is Camille Xifaras I love you shows, there down-to-earth and very informative thank you

  • @inventRight

    @inventRight

    8 жыл бұрын

    +Camille Xifaras Thanks for watching!

  • @coolboy60044
    @coolboy600448 жыл бұрын

    Nice video! Question: How long does it take after you sign a deal for your product to hit store shelves, and how long until you get your first royalty check? Thanks!

  • @stephenkey3137

    @stephenkey3137

    8 жыл бұрын

    +Doflex Great question. It all depends on the category and the complexity of the product/idea. If it's a simple idea/ slight modification on existing product... Signing a licensing agreement could take a few weeks. If the company has licensed an ideas before it goes very quickly. If the company has not licensed an idea .. Very painful. A simple idea can be brought to market within 6 to 8 months.. What's most common is a year. So you would collect royalties in the first quarter after it hits the store shelves. If your product is complicated and working with a large company expect to wait. But then again the rewards/ royalties can be larger.

  • @andresslv
    @andresslv6 жыл бұрын

    Thank you guys. Quick question, how do you make a sell sheet 1 minute sell video if you dont have a final product or even a prototype. Do I just ommit the video?

  • @inventRight

    @inventRight

    6 жыл бұрын

    Great question. The short answer: Can you make an imperfect prototype? You'd be amazed at how good they can look on camera. Here's an article that describes how different inventRight coaches go about creating inexpensive prototypes for their videos: www.entrepreneur.com/article/280381. Not every product requires a video, but they can be really helpful. Thank you for watching.

  • @BeddingSavers
    @BeddingSavers8 жыл бұрын

    How much do you get Stephen for wearing Polo in these videos!!!??? SMILEE!

  • @pdub2762
    @pdub27623 жыл бұрын

    Ty sirs

  • @coxdesigns2509
    @coxdesigns25097 жыл бұрын

    So when you ask them to build a prototype do you typically pay them for that service or do they just build one?

  • @inventRight

    @inventRight

    7 жыл бұрын

    We tell our students to be wary of working with any company that asks them to contribute their own money for prototyping.

  • @highlightrealtynetwork9321
    @highlightrealtynetwork93214 жыл бұрын

    do you have a list of term for Letter of Intent I see performance clause ,exclusive and non exclusive,insurance clause ,things that I would think to add would be start date,licencing fee ,when payments are made, amount of time of licencing ,amount of shelve space ,they would pay patents if worthly product,,and pay tp protect product lawyers and fees.

  • @nickypoland
    @nickypoland8 жыл бұрын

    Good luck Andrew Solivan. :D

  • @vivekpatel8559
    @vivekpatel85597 жыл бұрын

    Hi guys, you both are too awesome! I have an idea but its in very primitive stage. How do I move forward? Do I finalize a prototype first or file a PPA? FOR filing a PPA do I need a prototype ready? Or I can just do a PPA on my idea and then work on a prototype. I am sure once I get my prototype done I can start contacting companies for product licensing. Please advice, it will be very much helpful!

  • @inventRight

    @inventRight

    7 жыл бұрын

    Hello Vivek! Thank you for watching our videos! It's usually a good idea to know what your product will look like and what are the different ways it can be made to work, before filing a PPA. A Prototype can help, depending on the type of product you are creating, but it isn't always needed. For more on this, you can read our Inc. article on "The 5 Times You Actually Need a Prototype of Your Product": www.inc.com/stephen-key/the-5-times-you-actually-need-a-prototype.html. If you are having trouble figuring out what to do next, we also offer one-on-one coaching for people at any stage of the process: www.inventright.com/let-us-show-you-how-to-successfully-bring-your-idea-to-market We love helping inventors and we'd be happy to talk to you to figure out if we can help you move forward. The best way to set up a time for us to talk would be for you to book an appointment with our online calendar: www.inventright.com/contact

  • @jcruz1882

    @jcruz1882

    6 жыл бұрын

    Hi im jr, You guys are so awesome! You guy's give such good advice, I just started watching your video's im learning a lot from you guy's. I have such a good idea..i just don't know if it could sell in certain stores?? How could I get in contact with you guy's, or how would you guy's be able to help me?

  • @shaunmcinnis1960
    @shaunmcinnis19606 жыл бұрын

    Ok Stephen, different note here. Is that guitar a Flying V behind you? lol.

  • @rauperez8751
    @rauperez87513 жыл бұрын

    Any recommendations of companies that can make a prototype for my invention. Need a durable plastics non-electronic prototype for a medical accessory non-invasive device.

  • @Berserkeroverland
    @Berserkeroverland3 жыл бұрын

    Hey guys I have so many unique ideas most of my family are or were inventors my aunt invented the hoyer lift and sold the idea to hoyer for 15k 30 years or more ago. I have an idea that is defiantly a highly marketable idea and I have sketched it out and have thought out most of the details but I’m afraid if I take my idea to someone to market it or build a prototype that they will just say no and go and build it themselves with some changes. What do I do here I can’t build a prototype but I have a little money I could put into it to maybe get a patented. Should I use someone like invent help or what.

  • @lukhazperez2380
    @lukhazperez23805 жыл бұрын

    You guys are awesome, I have a question. What about if multiple companies contact me at the same time, can I make a deal with multiple companies at the same time?

  • @inventRight

    @inventRight

    5 жыл бұрын

    You can license the same idea more than once. Watch inventRight coach Amy Jo Brogan's channel for advice: kzread.info/dash/bejne/fYtoqayzk9rcmZM.html kzread.info/dash/bejne/fnyCq5eIlayaZrw.html kzread.info/dash/bejne/aH53mtZsmKy5qbQ.html

  • @josedrumer
    @josedrumer8 жыл бұрын

    great video, thanks. I have a question: you say here that we dont have to send them everything they ask as soon as they ask it , but what happens when they have an "idea submission form" on their website that begins asking for drawings and the provisional or non provisional patent in order to proceed? here is an example I got from the list of companies: www.sterilite.com/files/PDF/Idea_Submission_Form.pdf thank you very much for your help

  • @inventRight

    @inventRight

    8 жыл бұрын

    This line is a red flag: We will only accept and review product ideas that are now protected by a valid issued U.S. patent provided. This is another one: You are acknowledging that your disclosure to Sterilite Corporation is not confidential. Why would you give away important information before knowing there's any interest? That doesn't make sense.

  • @josedrumer

    @josedrumer

    8 жыл бұрын

    Bummer, that was a company I found interesting. I'll make my list even bigger then. Any suggestions for companies in the brooms/mops/dust pans section?

  • @prutsje21
    @prutsje215 жыл бұрын

    Is their a big difference between the US and Europe?

  • @user-qq8ix4zv7f
    @user-qq8ix4zv7f2 жыл бұрын

    How do i get a hold of you guys?

  • @ytchyfinger9360
    @ytchyfinger93603 жыл бұрын

    I need y’all both on my team I have prototypes ready to go for the number one selling toy Hot Wheels

  • @inventRight

    @inventRight

    3 жыл бұрын

    www.inventright.com/contact

  • @danielgoss1725
    @danielgoss17256 жыл бұрын

    Hey Stephen, my name is Daniel and I have a question I hope you can answer. I have a patent on a product for a fire department. With that type of market is it best to sell the patent or license it?

  • @inventRight

    @inventRight

    6 жыл бұрын

    Hi Daniel! We are not very familiar with that industry, but you could do a google search for similar items used in fire departments. I'd even go to my local fire department, explain that you are a product designer and ask where they get their supplies and who manufactures them. You might even find out new things that you could use to refine your idea!

  • @danielgoss1725

    @danielgoss1725

    6 жыл бұрын

    inventRightTV I'm actually a former fire chief so I already know who to contact but not sure what would be the best approach. Sell or license?

  • @inventRight

    @inventRight

    6 жыл бұрын

    Hi Daniel. We can't answer that for you. Here's an article Stephen wrote about the differences between licensing and manufacturing yourself: www.nytimes.com/allbusiness/AB4968144_primary.html?pagewanted=print. Here's another article Stephen wrote about how to tell whether your idea is a good fit for licensing: www.entrepreneur.com/article/285922. A question to consider: How many companies are distributing products in the industry? If there are only a few, they might not have a lot of motivation to innovate. The great news about licensing is you can get started on your idea today. You already have contacts, so it should not be hard to get the opinion of these companies. If you're looking for more help, contact us: www.inventright.com/contact

  • @tarikazizi8597
    @tarikazizi85972 жыл бұрын

    I would like to know what guarantee an inventor have that he won't be copied in case he give the prototype to the company.

  • @firstbornbirdman

    @firstbornbirdman

    6 ай бұрын

    I have same question. I am curious to hear their response. I recently saw the movie "flash of genius" 2008 film. It is about the inventor of the intermittent window shield wiper. This independent inventor took his prototype to Ford corporation and they simply stole it. He had a patent also and he also was a professor of electrical engineering but was helpless going up against the "big boys" in court. After many years he finally got a breakthrough. They settled with him for millions of dollars but it cost him 12 years of grief and suffering.

  • @arminag3827
    @arminag38275 жыл бұрын

    hi, I wanted to fill out a PPA for my idea but when I searched google patents I realized that this idea already has been patented in 1993. can I still get a PPA?

  • @inventRight

    @inventRight

    5 жыл бұрын

    Did the invention make it to market? Read more about what to do when you discover your product idea already exists: www.inc.com/stephen-key/what-to-do-when-you-discover-your-product-concept-already-exists.html

  • @gonzooznog8986

    @gonzooznog8986

    5 жыл бұрын

    Change it 15% to 20% if posible to diferent materials.

  • @cameemichelle5619
    @cameemichelle56195 жыл бұрын

    Do you just send your sell sheet to (the product is patent pending), a company, is all you need patent pending status and feel safe sending a sale sheet to a big company that might steal your idea even with PPA?

  • @inventRight

    @inventRight

    5 жыл бұрын

    Camee, you would never want to send your sell sheet to a company before researching their history of working with inventors. Google the name and "complaints" and "lawsuits." This is one important tip among many, many others. For example: www.entrepreneur.com/article/324629

  • @cameemichelle5619

    @cameemichelle5619

    5 жыл бұрын

    @@inventRight thanks!!

  • @gaylehiner9511

    @gaylehiner9511

    4 жыл бұрын

    @@inventRight I have a quick question , what significance does it have when you put your idea on paper and put it in an envelope and mail it back to yourself, and what information do I have to put on that paper. Thank you.

  • @pdub2762
    @pdub27622 жыл бұрын

    💪

  • @paulakjmayberry4048
    @paulakjmayberry40484 жыл бұрын

    I'm poor as hell on the outside..yet, I am no doubt, an INVENTOR amongst many other things...my greatest fear is that technology has advanced so much that nowadays you dont even have to TELL anyone your ideas, however,they have means to become privy of them and steal them even while you are still planning and researching and attempting to make small moves. Hopefully this same technology the thieves are using, will also prove and be the evidence of the real truth. Wish me luck!!!

  • @inventRight

    @inventRight

    4 жыл бұрын

    Paula, you'll want to join our live Q&A session tomorrow! Andrew is addressing fears, worries, and concerns. kzread.info/dash/bejne/oJmY3K2pnLKxo6w.html

  • @richjenkins4521
    @richjenkins45215 жыл бұрын

    I have a idea invention asking for a prototype what should a ball park in cost of prototype be?

  • @inventRight

    @inventRight

    5 жыл бұрын

    You should try to make your own prototype first. Have you done that? Here are tips: www.entrepreneur.com/article/280381 Here's more perspective on when you actually need a prototype: www.inc.com/stephen-key/the-5-times-you-actually-need-a-prototype.html

  • @gaylehiner9511

    @gaylehiner9511

    4 жыл бұрын

    @@inventRight I have just one quick question for you Steven if I draw my idea on paper and mail it back to myself is there any significance to that and or does it have to be notarized before I mail it back to me thanks for your time

  • @donnabeattiedreamerbydesign
    @donnabeattiedreamerbydesign5 жыл бұрын

    ❤️

  • @audreyhicks-buchan2587
    @audreyhicks-buchan25875 жыл бұрын

    do you help Canadians,, LOL ... how do I get a ppa.

  • @whattahw7805
    @whattahw78055 жыл бұрын

    i have what i know is a very profitable idea that could be used by millions around the world. should i have people sign a NDA before giving them my idea? i can't make it myself so i need to pitch it to someone that can

  • @mythoughts3553
    @mythoughts35535 жыл бұрын

    Thanks for the info guys I have a product and made a prototype. I just need a sell sheet and a video of my product but I need more guidance can you contact me?

  • @inventRight

    @inventRight

    5 жыл бұрын

    Absolutely, what's the best way to reach you? You can also reach us: www.inventright.com/contact

  • @JT0000JT
    @JT0000JT8 жыл бұрын

    Hi Stephen and Andrew, i got a question for you guys. If i contact a company that i want to license an idea to and the company does not want to sign an NDA, should i stop to doing business with this company and move on to the next one or try to push this company to still sign the NDA. A fan from Holland with ideas.

  • @inventRight

    @inventRight

    8 жыл бұрын

    +2nd_PLATOON Please know that we are not attorneys and this is not legal advice. Has the company expressed interest in your idea yet? If not, it's unlikely they'll be willing to sign one. Think about it. If a company were to sign an NDA with each inventors who sends them an idea, how could they keep track of all of those? It's better to ask for one after they've expressed interest and are asking for more information. Make sure you have protected yourself comfortably enough before submitting anything to them.

  • @KwameSenecaLP

    @KwameSenecaLP

    8 жыл бұрын

    +InventRightTV That is a primitive answer. Look stop sitting there and acting like you know what you are doing. It is simple, a company express interest they must sign and willing to share in the design and distribution. My shopping scanner idea had no prototype and it went straight to manufacturing after telling inventhelp and now unique solution limited has the product. I rather shot them.

  • @RSuttongo

    @RSuttongo

    8 жыл бұрын

    +Maxxi Seneca Get a clue buddy. You are on a recognized industry leader's page trying to put down their advice? Business is not simple. There are obviously different people capable of different things when it comes to contracts. You sound like you got burned on going to inventhelp, which we all know was an amateur move right there. They have horrible reviews. And now you look primitive as you like to say.

  • @KwameSenecaLP

    @KwameSenecaLP

    8 жыл бұрын

    Rico Sutton Dog Walker Die-hard fan. lol....burned? isn't that what it is designed to do? The advice they are giving is fooling and watered down for me. simple

  • @jasminerakestraw6037
    @jasminerakestraw60374 жыл бұрын

    What's a detailed definition of a prototype?

  • @inventRight

    @inventRight

    4 жыл бұрын

    Hi Jasmine. A prototype is a preliminary model of an idea. Something that's important to know about prototypes is that there are many different kinds. Your first prototype may be rough and made with existing materials, some people call this a Frankenstein prototype. Throughout the product development process, prototypes get increasingly refined. Watch this video to understand more about the different kinds of prototypes: kzread.info/dash/bejne/lJl6uq1ribSqd5s.html

  • @jasminerakestraw6037

    @jasminerakestraw6037

    4 жыл бұрын

    @@inventRight Thanks. Also, where could I get a list of complainies from? The Better Business Bureau?

  • @tawanafultz2214
    @tawanafultz22143 жыл бұрын

    Thanks! Looking for a potential licensing attorney!

  • @tawanafultz2214

    @tawanafultz2214

    3 жыл бұрын

    I need help with my prototype!

  • @inventRight

    @inventRight

    3 жыл бұрын

    Get in touch with us! www.inventright.com/contact

  • @Mothersload
    @Mothersload3 жыл бұрын

    🇨🇦🐢❤️

  • @mr.marriedsmith9682
    @mr.marriedsmith96826 жыл бұрын

    What industry would board games fall under?

  • @inventRight

    @inventRight

    6 жыл бұрын

    Hello! Some of the companies that manufacture them are in the toy industry, but a few, like Rio Grande and Mayfair, are exclusively dedicated to board games. Do you have an idea for a board game? A quick internet search will get you a full list of manufacturers and brokers. The important thing is to know how to reach out to them. If you haven't downloaded it yet, consider getting a copy of our free book "Getting In": www.inventright.com/getting-in. Thanks for watching!

  • @BadHammerProductions
    @BadHammerProductions6 жыл бұрын

    Donald Trump might say blablabla what? Sorry but assuming is just what we all know it is

  • @fullthrottleafterhours9319
    @fullthrottleafterhours9319 Жыл бұрын

    You guys just lost a viewer why do you have to hate on Trump keep your political views to yourself