inventRight coach Amy Jo Brogan explains how she gets in to companies to license her ideas for new products. The truth is, everyone approaches this step a little differently. With her fail-proof tips, unique insights, and recommendations for best practices, you CAN get in touch with the right people at the right companies to pitch your product ideas.
inventRight is a one-on-one coaching program that has helped people from more than 40 countries license their ideas for new products. It was founded by Andrew Krauss and Stephen Key in 2001. Visit http://www.inventright.com for more information and to become their student.
Call #1-800-701-7993 to set up an appointment with Andrew or another member of the inventRight team to discuss how we can help you license your ideas.
New to licensing? Read inventRight cofounder Stephen Key’s bestselling book “One Simple Idea: Turn Your Dreams Into a Licensing Goldmine While Letting Others Do the Work.” Find it here: http://amzn.to/1LGotjB.
Want to learn how to license your product ideas without a patent? Stephen's book “Sell Your Ideas With or Without a Patent” explains exactly how. Find it here: http://amzn.to/1T1dOU2.
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Hi! Love your videos Amy they're so helpufl! But I have a Question: In this first email being sent to this person, should we not be signing or sending a NDA before showing them a sell sheet? I will have a PPA soon, I assume its necessary or at least advised right? How do we go about asking for that?
Hi Steven. I recommend reading my boss and mentor Stephen Key's book "One Simple Idea" for a detailed description of the 10 steps needed to license an idea. No, we do not recommend asking for an NDA before sending a sell sheet. You need to disclose just enough in your sell sheet to make them want to learn more; not actually tell them how your invention does what ti does. Most companies will not sign an NDA right away, and not yours. They have good reasons for this. Watch Stephen explain how to get a company to sign an NDA here: https://youtu.be/z1yjBcI66vY
Hi Erins. I strongly recommend reading my boss and mentor Stephen Key's book "One Simple Idea." It describes how to license your ideas for products in 10 steps, and many people have used it to license their product ideas: https://www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676
I have a patent panding and nowadays trying to reach some companies and it seems very difficult :( In USA, in Turkey , in Germany...And most of companies has a submission system on their website and you have to apply on this system and share your innovation. And some of them has some digital aggrements that says you are accepting that your offer is fully volunteery...! I wonder this kind of aggrements can lead to lose my rights on my patent pending if I share. And I wonder your approach about it. It is secure or need to find a real marketing manager and make a phone call...
Thanksss for your answer in advance :)
+Straight 2 Licensing With AmyJo
I've read and thank you very much, it was very useful and encouraged me. And after reading article, I have one more question; what time is the best for selling patent or licence for a company; After provisional patent application(PPA) or after PPA+PCT application. Or maybe the company you will negotiate for licensing will prefer to apply PCT by itself and after buying our idea? 12 months period after PPA can protect our whole rights 100%? And last question sorry, it is too many I know :) Are you giving support inventors for marketing their inventions in USA except students program. Thanks for your time to reply my message in advance.
Please read this article for more information on how to get the most out of submitting your product ideas online: https://www.inc.com/stephen-key/how-to-get-the-most-out-of-submitting-a-product-idea-online.html
Hi Amy Jo!! How much would I have to pay to get a product licensed by a company, or is it just a pitch to them to get them to take a look at the product and then they pay you once a deal is made and product is sold.....
Hopefully I explained my question correctly.
Also what do I do if I don’t have anyone behind me or anyone that believes in me enough to get fanatical help.
Is this something that I could do all alone and still get it done?
Hi Amy, what if you’ve already submitted an idea, (it’s been a month) and you haven’t heard anything back? I submitted into one of those “black holes” that accepts product ideas. I just want to know if I should withdraw and try somewhere else.
Hello Amy Jo, love your videos!
I've invented a product, hired a company to submit my patent pending, make a 3-D rendering and pursue licensing deals.
I have produced a one minute video that pretty much shows and tells all, I told my licensing person to include this link with every inquiry.
Now, my licensing person just came back to me and said that there is a company interested, good new! Maybe, or is it a scam?? They will give me 15% "pretty good", and all they need is 4k, ernest money to show I have skin in the game and cover cost.
My question or concern to you,,, I pay 4k, how do I know if they're just going to take the money and shelve the product?
Do I ask, how long until it will hit the market? Do I counter? My deal is, I already have skin in the game, and quite frankly, I don't have 4k. Do I counter with, how about 10% and no fees, or is what they are offering pretty much standard?
My invention falls into the Smart Phone accessory market. Very simple design, solves a common problem.
The name of this particular manufacture is Universal Manufacturing Corp., I`ll so some investigating and see who these people are and look for reviews and or references.
Thank you for your time!
Oklahoma City, Ok.
Hello Donn. Please read this article from my mentor Stephen Key:
This is based on 20 years of experience working with inventors from 60 different countries. I would like to help you, please contact me at inventRight if you are interested: https://www.inventright.com/contact
You are going to have a tough time getting anyone to license your idea without knowing what it is.
Here's how to think about non-disclosure agreements the right way:
This video is so helpful. My mind is exploding with ideas and I really want to see if I can get paid for them; and see the visions of my product ideas come to life. I'm really excited but I keep getting the old "We don't accept outside ideas" line from some of the companies I've contacted, especially the handbag and fashion companies. It's hard to find companies that accept outside ideas. But I think you tips will help me a lot. Thanks!
Hi Amy. Question. I just received a patent on my product and want to license it to a big company. I invented the first self cleaning toilet seat for public restrooms (airports, hotels, casinos, stadiums, etc). I can't even get pass their paralegal at some of these big companies like kohler, American Standard and Bemis. They want me to sign their NDA which will basically take away my rights... what should I do?
My boss and mentor Stephen Key wrote an article that explains how to license your idea to a big company.
"License Your Product Idea to a Fortune 500 Company Using These Steps" https://www.inc.com/stephen-key/what-you-need-to-license-your-idea-to-a-fortune-50.html
In the email, I'm thinking of putting in a paragraph stating that by accepting this email at their company address they are now in a non disclosure situation, agreement, contract? Then they have to open the file for the sell sheet? Or should that go in the subject line with address?
Amy you are so bubbly I would return a voice mail for sure :-)
Hi Curtis. That's not how non-disclosure agreements work :) Study up. This article "Non-Disclosure Agreements Can Be Powerful, But Only If You Know How to Use Them": https://www.inc.com/stephen-key/non-disclosure-agreements-can-be-powerful-but-only-if-you-know-how-to-use-them.html
I have followed all your advice and my product just got licensed with Oral-B, thank you soooo much for the knowledge. I was lost until I found you 6 months ago and now my product is on the shelves. I hope everyone finds the same success as I did with your guidance, I am forever now your student.
Hello KD, Congrats on licensing your product to Oral-B. I'd be happy to give you some tips on taking things from here and managing the licensing deal as things progress.. Please call me directly at 650-793-1477 or use this link to book an appointment with me. I will call you at the time you book. http://meetme.so/AndrewKrauss inventRight Co-Founder Andrew Krauss
I really like how you present, I have a provisional patent with 3D model and a nice presentation sheet. Very interesting product with survey demonstrating that more than 50% of people would buy it. Everything is ready to be presented to potential licensee.. I need someone to find the licensing and manage all this... I would do it but time does not allow me. would you be interested or anyone on this channel please email me at [email protected]
Great video , I have a question , Is a company free to sell my product in a jurisdiction that i don't have patent protection in. I am applying for patents in the EU and US , If i get a company to license my product can they take it to asia if i don't have IP protection there.
Great question! This article, "30 Ways to Make Sure You Profit from Your Creative Ideas" is a great overview of the many options you have to protect yourself: https://www.inc.com/stephen-key/30-ways-to-protect-your-product-ideas.html. For a full overview of how to protect yourself during the licensing process, please consider reading inventRight cofounder Stephen Key's bestselling book "One Simple Idea": https://www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676
Great video! I have a patent one embodiment of a concept that I fabricated and have video of the working prototype. I obtained this patent. I have now improved the concept using different technology and filed a Continuation In Part to the original Patent. Basically filed a totally new patent... My question is, while I am waiting on the response from PTO for the CIP, is it smart to shop the idea to companies, or do I wait until I have obtained the patent?
Hi Drew. Our strategies are all about establishing enough perceived ownership. In some industries, you can do that with a PPA or 'patent pending.' For others you will need a wall of intellectual property to establish perceived ownership. Our concern is always, if you wait for the patent to file, will you miss the market opportunity? Thank you for watching.
I like your show i have watched all ,I have always had ideas,never went the extra step. now i iam moving foward well i was going to invent rite untill i seen that $2500 for coaching so now i hade to watch all videos and take note because this is all iam going to get . will on simple idea has went from one ppa to a start up with multipule patents on a loss provention program for mager retailer stores no one limmite and also the first that started this all wich is allmost ready set lets sell. I cant wait untill i can uncover what i learned from you steven and andrew and how i put it to work for me with just one simple idea $65 no education and pretty much reinventing my self with not much to work with i have tryed to keep what i have done documented for the record. I realy mean iam starting over i walked a way from it all with just me and $100.00 i have to prove that you dont need anything but yourself if you value life. the only thing i might have needed to use in my education is that of spelling here and there Brandon Ga
I Invented A Medical Marijuana 3Chamber-Filtering Water Pipe Delivery System.. I Hired INVENT HELP To Orchestrate And Guild Me Thru The Process Of Patenting My Idea And Introducing It To The Market.. They Recommended A Pattern Attorney For Submissions To The US Patent Trademark Office.. My Device Is Classified As Utility.. Invent Help Solicited Roughly A Couple Hundred Companies With Related Interests Resulting In No Success.. They Targeted Primarily Medical Professional Businesses They Have Registered In Their Data Base. The Targets They Submitted My Intro Brochure To Were Not Interested And My Reasoning Is The Timing Was Too Soon.. Now That Over Half The Nation Is In Favor Of Legalization My Chances Are Unfolding.. I'm Seeking Advice At This Point In Locating My Niche Market And What Would Be The Process For Licensing Manufactures To Produce And Distribute.. Please Point Me In The Right Direction.. JohnGz S..o0O. . ~ ~ UpInSmoke.. tu ps: nice video great topic Good Works.. god bless..
Hello Amy, I have used CDNA's with companies I sent products to in the past. When do you send a CDNA to the company? Before your pitch sales sheet information is sent or after before you negotiate? One method I have used to get past a Gate Keeper is I say I'm the president of URCOOLSTUFF and I need to speak with the marketing manager!
I have registered a provisional patent
and I have Electronic Acknowledgement Receipt
Electronic Acknowledgement Receipt
but I don't know how I can access again to my provisional patent on a website, what the status, how I can show my investors that I have provisional patent etc
Amy do you read these comments.i don't have the money for being a student.my family and I have been studying everything you put out as far as information on licensing.i have a few products that are thought of from my 11 year old son and my wife has also been working on a product she thought of.we need help.can you help.i hope you can get back to me.my name is Freddie Martinez and hoping to talk with you ,Steven, or andrew.we love you guys.need help with who to call.how do I find the right people to call.please help.
Hi Amy jo. I really liked what you had to share on making contact. I did not know about your company and went with inventionhome.com. I have a portfolio but they have only contacted 17 companies out of supposed 1000's. I am working full time now and have precious little time to make calls. Is there any way I can still make contact even with my limitation? My provisional patent runs out soon and I am worried that IH won't come through for me in time. I also would like an answer to bjaxx8's question. thanks.
Wow Amy you ready laid out the process in a very linear fashion, but you also gave us some good ideas on how to handle the variables. You're a coach I'd want in my corner!!! way to go good job!!! The One thing I really like Amy is, that as I watch your video it does not feel like a sales pitch is trying to be shoved down our throat. but you're really actually talking straight to me about how to solve a problem that I've been dealing with for a long time and bringing some answers to it that make it easier. I haven't actually pulled the trigger with inventright yet but I know I'm going to wined up doing it because I can see your working for a real company that care about the people your trying to help and you all have passion for what you are doing. I see a level of integrity with your organization that too many companies in this country have lost. I've been burned numerous times in the past with other inventions companies but with event inventright through your YouTube videos I have already learned an awful lot and I'm going through the book One Simple Idea right now. Stephen what a great team you've put together I look forward to working with you guys in the near future God bless you guys Kim Seymour
Hi Johnboy. We have a free ebook on our website called "Getting In" that explains how to pitch your ideas to companies that are looking for them. Scroll to the bottom of this page: http://www.inventright.com/. Thank you for watching!
Amy Jo... I could use your help. My name is, Raoul Santiago, I am a product developer and I have a new idea I'd like to submit to a company for consideration. I would like your amazing insight on my specific idea. I was wondering what is the best email I could reach you at?
Hi Amy Jo, thank you so much for a great subject and information. I don't have sell sheet, just prototype, and I am trying to start making the call. what if they ask me something then I don't know the answers? It's ok if I sent my prototype to the gatekeepers?
Hi AmJo, great video! Is it a bad idea to do a group email and send your sell sheet to all the companies at once? I thought it might be good as the companies will see that they have competition. Whats your take?
Hello Amy, your video is really nice. Have some questions :
1 : I have a trademark, it is better to give a licence for a company to use it, as a person or shall I make a company to protect my trademark ?
2 : I own a learning book for kids (design, illustrations and idea), how much percentage I shall take from publisher, to publish the book in other language ?
Thank you for your help
Hi Amy Jo and thank you for the video. My question is when/where does a NDA fit in to the scenario described in this video? In the video it seems like you go from initial contact right to submitting your info.
Thank you in advance.
Hi Amy I wasn't sure but this is the first video i watch for you, did you actually invented something and marketed it to companies and succeed with it and so thats why your putting your experience here to everyone and how to follow the same steps if we have a product that we came up with? thanks
Hello Amy Jo. Im Brazil, I just spoke with you on the phone. this is the video i mentioned that led me to you. it was nice to talk to someone i subscribed to and that knows what there doing. i love this video and what you teach. when i do launch my products ill come back to your channel and give you a big thank you for helping me get there. your videos are super helpful.......
Hey if you need also advice inventright has us students available and also a forum. If you need to know something I'm there at times. If you look at webinars it have to match to your benefit to get your product out there, so it have to relate in what you try to market as well as filing a ppa. Just ask..Close minds get fed!!
Hi Amy, my name is Albert I am 64 years old and I am learning to be a product developer. I would like to ask a question I came up with a product to keep 3 to 5-year-olds children safe at the beach. Because few years ago in Jacksonville Florida they had four kids who was pulled out from the beach by and undertow current and they never found their bodies. I thought of this idea about seven years ago. And I got a patent on my product. I decided to market it myself. By doing a survey from 1 to 10 with parents who had kids I talked to 124 people. And after I was finished with my survey I ended up getting all nines and tens. So I made appointment with a manager in Walmart to show them my product. The manager met with me and told me to come into his office. Where he had three other managers their and they asked me to demonstrate my product to them. After I demonstrated the product one of the managers told me the following him out where the beach equipment was. To show me where they were going to put my product. And then they asked me if I was ready to do business with them. I told them that I would have to get back with them with my answer. Because I didn't know how I would ever be able to mass produce my product. My question to you what would you do if you were faced with this problem. Not knowing anything about marketing.
Hi Alber lets share each others ideas, I have an invention as well and about ready to market it and looking for the right place if you like to communicate we could be helpful to each other and with out being scammed out there
Incredible useful and well explained. Thanks Ami. Do you know how badly you need a 3D pronted prototype, outside of a detailed solid model, to convince a company interested in your idea? the product is a kitchen bowl, no electrical, software, chemical involve on its opetation.
Great video, thanks. Quick question, if you get the gatekeeper's email address for them to forward to contact person, do you include your sell sheet and video or do you wait to hear back from the contact person to validate that they are going to be looking at it and they are the right person to handle that? Thank you.
I would say if you don't know what to do next then study. Study the art of licensing. Watch you type of Amy Joe, ask David F, and inventright tv with Stephen key and Andrew K. Also Stephen Key has a great book called one simple idea I would order it through Amazon!
Then do a google image search maybe prior art search also study that micro market of your product.
Once you've done that you'll want to make a drawing of your product and with that file for a ppa application.then you can make a sell sheet inventright had great examples of sell sheets and how to make them.
Then make a list of 30 companies, go to the store where your product would sit and look for the brand of companies you want to submit too look up all phone numbers and start calling! Get emails Amy Joe has a great video what to say. Then submit your product and follow up but don't get discouraged from no's you only need one yes it's a numbers game. Once you start calling YOUR IN THE GAME CONGRATS!
This is just basic quick anything you need these guys have the answers for you. Also you could team with inventright just go to their website
Good luck to you!!!
How do you mean calling them to what sell an idea?
I was looking at buying a bicycle and thought of an accessory that could do extremely well. I couldn't find any on ebay despite the simplicity of it.
I have lots but this one feels good. I just don't know what to do.
Can you tell me about the proposal you submit is it only a sell sheet or a cell sheet and then you attach the drawings of the product do you attach anything or is it only a sell sheet until they call back and then you send drawings and details description of the product?
great video Amy- very informative. What are your thoughts on just pitching initially on LinkedIn. By using LinkedIn I can pinpoint the most appropriate contacts. Also if live pitching isn't a strong point thinking the online pitching could be the way to go to get the point across?
Great Video Amy Jo! Any thoughts on how to handle a gate keeper who says they'll forward your sale sheet/ idea to the decision maker then tells you if they're interested they'll get back to you? I've run into this scenario multiple times. The gate keeper won't tell you or give you the name of the decision maker, rather tells you to send it to them and not to follow up because someone will reach out to me if there is any interest.
Very Good Amy Jo!!! I Loved it!!! Great advice! I like your script for calling and especially making all the calls while taking notes and then at the end of the day send the emails. This keep a person in the groove of one task instead of divide thinking!
You Rock!! Catherine Doten
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