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You want to really learn how to license?
by Rodney Long » Mon Nov 20, 2006 7:04 pm
- Rodney Long
- White Belt
- Posts: 16
- Joined: Mon Nov 20, 2006 4:20 pm
- Location: Alabama
Guys I invent, and I license my inventions
That's why I was invited here
I'm going to teach those who want to learn how, I'm going to teach you what an invention needs to be to get licensed, I'm going to teach you how without wasting time or money, and the hardest part,, I'm going to tell you when to drop an invention, because it can't be licensed.
It is true many inventions can make an inventor a decent living if they venture them, and these inventions would not be considered by any manufacturer, until after you can "prove" they have a market, then it might be possible to license them.
This may be what some inventors want to do,, and fine, go that route, different strokes for different folks, you will have a much better chance with more inventions that way. I personally would rather bang them out, let someone else do all the work, and I go to the mail box every month for the checks
It took me almost 5 years to learn how to invent "for" manufactures, and these are the inventors customers, not the consumer, when you plan on licensing your invention instead of venturing it.
The condensed version of the key to successful licensing is the three "rights" No invention licenses without them
You must first find the "right" problem
You must invent the "right" solution
You must choose the "right" manufacturer to license it to
I will cover each of these in detail, if there are enough inventors who care about learning how to invent for a living, I'm not talking about people who have one invention, and they have bet the farm on it, if it fails, they quit.
Sure it might be a few here have the first two rights, they just need the third, heck we can handle the third in under 30 days, That's the easy part.
I've never had one that had the first two rights take more than 30 days to license, most under two weeks, one I had a contract in a just 12 hours from the idea, to a faxed contract (took 8 days to get the check though)
A little about me
I worked in engineering, and maintenance up until 1999, with over 300 inventions in use today in heavy industry, none of these were consumer products, but trade secret process equipment, and machines. In 1999 I licensed my first invention, and quit my day job (big mistake), after the sales on it flopped, because of me not knowing how all this worked, I was stuck, and I was sunk. I decided I would invent as an independent for a living. I was a great inventor I knew, what I didn't know were the hard ropes of being an “independentâ€
That's why I was invited here
I'm going to teach those who want to learn how, I'm going to teach you what an invention needs to be to get licensed, I'm going to teach you how without wasting time or money, and the hardest part,, I'm going to tell you when to drop an invention, because it can't be licensed.
It is true many inventions can make an inventor a decent living if they venture them, and these inventions would not be considered by any manufacturer, until after you can "prove" they have a market, then it might be possible to license them.
This may be what some inventors want to do,, and fine, go that route, different strokes for different folks, you will have a much better chance with more inventions that way. I personally would rather bang them out, let someone else do all the work, and I go to the mail box every month for the checks
It took me almost 5 years to learn how to invent "for" manufactures, and these are the inventors customers, not the consumer, when you plan on licensing your invention instead of venturing it.
The condensed version of the key to successful licensing is the three "rights" No invention licenses without them
You must first find the "right" problem
You must invent the "right" solution
You must choose the "right" manufacturer to license it to
I will cover each of these in detail, if there are enough inventors who care about learning how to invent for a living, I'm not talking about people who have one invention, and they have bet the farm on it, if it fails, they quit.
Sure it might be a few here have the first two rights, they just need the third, heck we can handle the third in under 30 days, That's the easy part.
I've never had one that had the first two rights take more than 30 days to license, most under two weeks, one I had a contract in a just 12 hours from the idea, to a faxed contract (took 8 days to get the check though)
A little about me
I worked in engineering, and maintenance up until 1999, with over 300 inventions in use today in heavy industry, none of these were consumer products, but trade secret process equipment, and machines. In 1999 I licensed my first invention, and quit my day job (big mistake), after the sales on it flopped, because of me not knowing how all this worked, I was stuck, and I was sunk. I decided I would invent as an independent for a living. I was a great inventor I knew, what I didn't know were the hard ropes of being an “independentâ€
Welcome Roger
by Michelle » Tue Nov 21, 2006 7:55 am
-
Michelle - Black Belt
- Posts: 1529
- Joined: Wed Oct 11, 2006 7:27 am
Our team is thrilled that you have accepted our invitations (begging 
) to join us here.
Thank you for your posting and for checking in from time to time.
As I mentioned on another posting, I think our chances of success and providing value on this forum for folks who really need it just went up...I think I said tripled but now say 1000 times.
Welcome!
Michelle
AmericanInventorSPot.com Team
) to join us here.
Thank you for your posting and for checking in from time to time.
As I mentioned on another posting, I think our chances of success and providing value on this forum for folks who really need it just went up...I think I said tripled but now say 1000 times.
Welcome!
Michelle
AmericanInventorSPot.com Team
by idie » Tue Nov 21, 2006 8:09 am
- idie
- White Belt
- Posts: 10
- Joined: Mon Oct 30, 2006 1:59 pm
Hi Rodney:
I'd take any advice I can get.
I have an idea for a different way to color your hair. I think its a great idea and I now have some basic sketches of how it's going to work.
Before I do much more, I am trying to learn everything I can and then figure out next steps.
Or maybe, if I am lucky American Inventor will just love my idea and do all the work for me.
Thanks for coming onto places like this and sharing your advice.
I'd love to learn from someone who has already done it before.
Idie
I'd take any advice I can get.
I have an idea for a different way to color your hair. I think its a great idea and I now have some basic sketches of how it's going to work.
Before I do much more, I am trying to learn everything I can and then figure out next steps.
Or maybe, if I am lucky American Inventor will just love my idea and do all the work for me.
Thanks for coming onto places like this and sharing your advice.
I'd love to learn from someone who has already done it before.
Idie
by Rodney Long » Tue Nov 21, 2006 8:33 am
- Rodney Long
- White Belt
- Posts: 16
- Joined: Mon Nov 20, 2006 4:20 pm
- Location: Alabama
[quote="idie"]Hi Rodney:
<I'd take any advice I can get.
I have an idea for a different way to color your hair. I think its a great idea and I now have some basic sketches of how it's going to work.
I take it your in this business in your day job ? If this is true, you chances of success just went from 0.02% to around 20 %
Before I do much more, I am trying to learn everything I can and then figure out next steps.>
First thing, go to
http://www.freepatentsonline.com
First do a word search on " hair and color " type it in just like that in the search box. once you find all the patents for coloring hair, you will want to do a class search, as a word search only goes back to the 70's, you will see the "class" listed on the patented, you will need to read "every" patent in that class. Remember it's not the drawing that will kill you in a patent it is the claims,, READ THEM.
Now your not going to running out and filing for a patent,, not yet anyway, your just going to see what's close to your invention,, perhaps even what's the "same" as your invention,, at which time you move on to another invention
<Or maybe, if I am lucky American Inventor will just love my idea and do all the work for me.>
MAJOR MISTAKE !!!!!!!!!!!!!!!!!
These shows are for losers,
Do your search then get back to me
<I'd take any advice I can get.
I have an idea for a different way to color your hair. I think its a great idea and I now have some basic sketches of how it's going to work.
I take it your in this business in your day job ? If this is true, you chances of success just went from 0.02% to around 20 %
Before I do much more, I am trying to learn everything I can and then figure out next steps.>
First thing, go to
http://www.freepatentsonline.com
First do a word search on " hair and color " type it in just like that in the search box. once you find all the patents for coloring hair, you will want to do a class search, as a word search only goes back to the 70's, you will see the "class" listed on the patented, you will need to read "every" patent in that class. Remember it's not the drawing that will kill you in a patent it is the claims,, READ THEM.
Now your not going to running out and filing for a patent,, not yet anyway, your just going to see what's close to your invention,, perhaps even what's the "same" as your invention,, at which time you move on to another invention
<Or maybe, if I am lucky American Inventor will just love my idea and do all the work for me.>
MAJOR MISTAKE !!!!!!!!!!!!!!!!!
These shows are for losers,
Do your search then get back to me
by Ben Tex » Thu Jan 04, 2007 9:36 am
- Ben Tex
- White Belt
- Posts: 44
- Joined: Wed Nov 29, 2006 9:24 am
- Location: San Antonio, TX
Hi Rodney,
I would very much apreciate your advice. I strongly feel I have achieved the first two "rights" with my invention of a beverage accessory. It's simple, and searches have shown there's nothing on the market or patented that does what it does. I have applied for a patent through an invention help company. I have worked with an engineering design company to "perfect" the design and have CAD drawings and e-drawings. I agree that my client is a manufacturer, but don't know where to go, or if I'm even ready to go. Any advice?
I would very much apreciate your advice. I strongly feel I have achieved the first two "rights" with my invention of a beverage accessory. It's simple, and searches have shown there's nothing on the market or patented that does what it does. I have applied for a patent through an invention help company. I have worked with an engineering design company to "perfect" the design and have CAD drawings and e-drawings. I agree that my client is a manufacturer, but don't know where to go, or if I'm even ready to go. Any advice?
by Rodney Long » Thu Jan 04, 2007 9:52 am
- Rodney Long
- White Belt
- Posts: 16
- Joined: Mon Nov 20, 2006 4:20 pm
- Location: Alabama
Ben Tex wrote:Hi Rodney,
I would very much apreciate your advice. I strongly feel I have achieved the first two "rights" with my invention of a beverage accessory. It's simple, and searches have shown there's nothing on the market or patented that does what it does. I have applied for a patent through an invention help company. I have worked with an engineering design company to "perfect" the design and have CAD drawings and e-drawings. I agree that my client is a manufacturer, but don't know where to go, or if I'm even ready to go. Any advice?
Chances are very high you got screwed on your patent application, you paid for a ( sorry) PAP at a cost that could have gotten you a (good) Utility application. Did this company also do your patent search ? If they did, it is worthless.
If you need to "talk to me" give me a call 205 674 1495
by Heather615 » Mon Jan 08, 2007 2:15 pm
- Heather615
- White Belt
- Posts: 22
- Joined: Tue Dec 12, 2006 9:47 pm
- Location: Charleston, SC
Rodney,
Hi my name is Heather. It is great to have you here for advice. I looked you up quickly and saw some of the products you developed and read some of the interviews you have given. Nice to be able to communicate directly with a veteran inventor! I have a medical product that I invented and have been selling directly to hospitals, doctors and parents. It is quite successful and the best on the market. I have been doing it now for about 7 or 8 years, but only just recently finally have gotten the manufacturing process perfect. I was a totally "green" inventor at the start of all of this. I am glad that I did this first official invention the hard way. It has been a tremendous learning experience and this particular invention is close to my heart..."my baby". This product supports my family and greatly boosted our way of life. Anyway, I have another invention that I am 101% confident it would be an instant success among general consumers and could probably sell as many as could be made. People are already asking for inventors to create it, but for some reason everybody has overlooked the obvious. This new invention is not my baby and I really don't care about following it through from the concept to the market, but I would like to get a peice of the sales. I have done patent searches, I have sketched drawings, and I have page after page of internet talk about how people want the funtion that this product will provide. I thought it may be the easy and lazy route to go on American Inventor. If you have other suggestions I would be very interested!!!!!!
Hi my name is Heather. It is great to have you here for advice. I looked you up quickly and saw some of the products you developed and read some of the interviews you have given. Nice to be able to communicate directly with a veteran inventor! I have a medical product that I invented and have been selling directly to hospitals, doctors and parents. It is quite successful and the best on the market. I have been doing it now for about 7 or 8 years, but only just recently finally have gotten the manufacturing process perfect. I was a totally "green" inventor at the start of all of this. I am glad that I did this first official invention the hard way. It has been a tremendous learning experience and this particular invention is close to my heart..."my baby". This product supports my family and greatly boosted our way of life. Anyway, I have another invention that I am 101% confident it would be an instant success among general consumers and could probably sell as many as could be made. People are already asking for inventors to create it, but for some reason everybody has overlooked the obvious. This new invention is not my baby and I really don't care about following it through from the concept to the market, but I would like to get a peice of the sales. I have done patent searches, I have sketched drawings, and I have page after page of internet talk about how people want the funtion that this product will provide. I thought it may be the easy and lazy route to go on American Inventor. If you have other suggestions I would be very interested!!!!!!
by Rodney Long » Mon Jan 08, 2007 3:11 pm
- Rodney Long
- White Belt
- Posts: 16
- Joined: Mon Nov 20, 2006 4:20 pm
- Location: Alabama
Heather615 wrote:Rodney,
Hi my name is Heather. It is great to have you here for advice. I looked you up quickly and saw some of the products you developed and read some of the interviews you have given. Nice to be able to communicate directly with a veteran inventor! I have a medical product that I invented and have been selling directly to hospitals, doctors and parents. It is quite successful and the best on the market. I have been doing it now for about 7 or 8 years, but only just recently finally have gotten the manufacturing process perfect. I was a totally "green" inventor at the start of all of this. I am glad that I did this first official invention the hard way. It has been a tremendous learning experience and this particular invention is close to my heart..."my baby". This product supports my family and greatly boosted our way of life. Anyway, I have another invention that I am 101% confident it would be an instant success among general consumers and could probably sell as many as could be made. People are already asking for inventors to create it, but for some reason everybody has overlooked the obvious. This new invention is not my baby and I really don't care about following it through from the concept to the market, but I would like to get a peice of the sales. I have done patent searches, I have sketched drawings, and I have page after page of internet talk about how people want the funtion that this product will provide. I thought it may be the easy and lazy route to go on American Inventor. If you have other suggestions I would be very interested!!!!!!
License it
If it's the right invention? it's easy as pie
Give me a phone call 205 674 1495
by Road Show » Thu Jan 11, 2007 3:42 pm
-
Road Show - Brown Belt
- Posts: 962
- Joined: Mon Nov 20, 2006 5:39 pm
- Location: SoCal
Rodney,
I just got back from having a discussion with a friend and fellow inventor concerning my invention (of course I had him sign an NDA despite the implicit trust we share). I am very entrepreneurial by nature, so I was in a quandry regarding whether to begin licensing my idea from the get go, or develop a business around the idea, with the thought of bringing in licensing revenue down the road. His take on this was for me to work from the top down so that I wouldn't invest a lot of time imagining that the licensing market is viable for my product when, in fact, it is not, and be left to toil in a marginally profitable business until I tired of it. I agree with him. He went on to suggest that I put together a formal presentation in the form of a multi-page brochure to send out or compliment an in-person interview with a potential manufacturing partner. As this will be the first time I have ventured into the licensing arena, I am inclined to pursue his suggestion. What is your opinion? Will my effectiveness be diminished by not having formal presentation materials?
I just got back from having a discussion with a friend and fellow inventor concerning my invention (of course I had him sign an NDA despite the implicit trust we share). I am very entrepreneurial by nature, so I was in a quandry regarding whether to begin licensing my idea from the get go, or develop a business around the idea, with the thought of bringing in licensing revenue down the road. His take on this was for me to work from the top down so that I wouldn't invest a lot of time imagining that the licensing market is viable for my product when, in fact, it is not, and be left to toil in a marginally profitable business until I tired of it. I agree with him. He went on to suggest that I put together a formal presentation in the form of a multi-page brochure to send out or compliment an in-person interview with a potential manufacturing partner. As this will be the first time I have ventured into the licensing arena, I am inclined to pursue his suggestion. What is your opinion? Will my effectiveness be diminished by not having formal presentation materials?
by Rodney Long » Fri Jan 12, 2007 6:19 pm
- Rodney Long
- White Belt
- Posts: 16
- Joined: Mon Nov 20, 2006 4:20 pm
- Location: Alabama
Road Show wrote:Rodney,
I just got back from having a discussion with a friend and fellow inventor concerning my invention (of course I had him sign an NDA despite the implicit trust we share). I am very entrepreneurial by nature, so I was in a quandry regarding whether to begin licensing my idea from the get go, or develop a business around the idea, with the thought of bringing in licensing revenue down the road. His take on this was for me to work from the top down so that I wouldn't invest a lot of time imagining that the licensing market is viable for my product when, in fact, it is not, and be left to toil in a marginally profitable business until I tired of it. I agree with him. He went on to suggest that I put together a formal presentation in the form of a multi-page brochure to send out or compliment an in-person interview with a potential manufacturing partner. As this will be the first time I have ventured into the licensing arena, I am inclined to pursue his suggestion. What is your opinion? Will my effectiveness be diminished by not having formal presentation materials?
It really depends on the invention, on what kind of presentation you need, just make sure your not trying to "snow" them with the presentation, you can't get away with it. Keep it as simple as possible, bells and whistles really turn them off. It you have to "sell" the invention, means they would have to "sell" the consumer. There are few retailers who hire "salesmen" these days, the invention must sell itself, or it would need to be heavily advertised, few companies license inventions that require advertising
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