Patent to Market Success
The Step-by-Step Guide to Cashing in on Your Patent
Matthew Yubas
Paperback book
$29.95
332 pages
ISBN-13: 9780972552189
Description
Patent to Market Success is a complete guide for Inventors, Entrepreneurs, People with ideas, and Business owners to turn a patent into a profitable product. The book is written in plain English with clearly organized step-by-step instructions and filled with helpful examples.
Based on his 24 years of developing and marketing products, the author, Product Coach Matthew Yubas, uncovers 35 different methods to bring an invention to market. Readers are taken through a step-by-step process and real-world advice for self-marketing, selling to a company, licensing for royalties, and more.
In addition, as a handy reference guide, this well-researched book is loaded with resources. Overall, readers will find useful advice in every chapter of Patent to Market Success.
Editorial Reviews
"Patent to Market Success by Matthew Yubas is a comprehensive guide to the process that covers product invention, prototyping, selling and licensing patents, planning, manufacturing, marketing, and launching a product.
Whew! There's a lot in this book, but it is laid out clearly with helpful appendices to assist in writing plans and running numbers. Written by an engineer, entrepreneur, and start-up consultant who can write clear prose that is refreshingly free of hype."
– Forward Magazine
Reviews
Douglas Rook, Inventors Forum Board of Directors
Having attended more than 200 Inventors Forum seminars, I thought I had heard it all. As I read Patent to Market Success, I discovered the most comprehensive assemblage yet of key information to actually profiting from your patent. Read it, follow it and profit. It's that easy.
Susanne M. Moore, Patent Attorney
"Matthew Yubas has done it again. Patent to Market Success is chock-full of resources to streamline the inventor's path and maximize their margins. Even with my extensive experience as a patent attorney, this book was an eye-opening read for me! I can't wait to share it with my clients!"
Kevin Mills, Mills Creative Minds
"I've read most every book out there on inventing consumer products, and I can safely say THIS is the one I'll be returning to for expert advice. Easy to read, up-to-date and astoundingly comprehensive, Patent to Market Success is like having a personal inventor mentor at your beck and call, 24/7."
Howard M. Cohn, Patent & Trademark Attorney
"Matthew Yubas has written the definitive guide for inventors and entrepreneurs alike seeking to reap the full benefits of their intellectual property rights. Patent to Market Success benefits from his more than 20 years of experience personally helping patentees bring their ideas to market.
Anyone looking to turn a good idea into a success needs to read what Yubas has to share. Even seasoned inventors and product managers will discover new methods and strategies to better optimize the profitability of their patent portfolios."
Dan Wolfson, Inventor of the AfterGlow,
Member of San Diego Inventors Forum
"Patent to Market Success is an excellent book with detailed explanations of each step to get to market. As an inventor I was particularly impressed with new information on the market opportunities available for inventions. And the sections on how to license or sell product ideas to companies is just what I needed. Overall, the book definitely helps avoid the pitfalls and saves a ton of time and money. I'll continue to use the book as a guide for all my ideas."
Mark Malek, Patent Attorney
Patent to Market Success is a great resource for inventors at any stage in the invention process. Yubas has filled the book with great information and resources to help any inventor.
This is a great book to answer most any question that an inventor may have, and I highly recommend keeping this around as a reference when an obstacle arises in the invention process. Patent to Market Success is a book that I recommend to my clients to answer the age old question "I have a patent, now what?" Great job!
Who This Book Is For
After filing for a patent, many people are confused on the next steps to take. The patent process has a beginning, middle, and an end (having a patent granted).
Yet making money from an invention often seems confusing. There are many paths to take, many loaded with pitfalls, and with various opinions on what to do next.
This book, Patent To Market Success, is for inventors, entrepreneurs, and everyday people who have filed for a patent and want to successfully get their invention into the market.
Whether your invention is a simple household device, automotive accessory, game, sporting equipment, pet toy, or sophisticated electronic gadget, the guidance you need to sell or license to a company, or bring to the market yourself, is in this book.
Patent To Market Success takes the guessing game out of how to proceed to the market. There's much work to get there, but now, with this book in hand, you'll have a clear path to success.
What the Book Is Not
The book is not a feel good story based on the successes of the past. You won't find fluff or wasted pages. The material is real-world information, precise procedures, and specific guidance to help you make money from your invention. Use this book like a recipe or roadmap to move forward and reach your goals.
Table of Contents
Acknowledgements 12
The Constitution Protects Inventors 13
Introduction 15
Inventor Stories 18
Joe McVoy and Brian Crane 18
Cary Austin 20
PART ONE – INVENTION ROADMAP 23
Chapter 1:
World of
Opportunity 24
Opportunities to Sell Your Patent 24
Chapter
2:
Invention Roadmap 31
The Market-Step™ Process Diagram 32
The Market-Step™ Process Steps from Idea to Market 33
Protect Your Idea 33
Market Research and Evaluation 33
Patent Review 34
Decision 35
Sell or License Path 35
Self-Market Path 35
How Long Does It Take? 36
Product Evolution 36
Chapter 3:
Decision to Market, License, or Sell 38
Self-Marketing vs. Licensing Example 39
Do You Prefer to License Your Patent? 40
Do You Prefer to Sell Your Patent? 41
Do you Prefer to Self-Market? 42
Decision 42
Chapter
4:
Product Failure and Success 44
What Is a Product? 44
Why Do Products Fail? 44
Why Do Products Succeed? 45
Chapter
5:
Market Research 47
Primary and Secondary Market Research 47
Determine Your Industry 48
Market Research Sources 49
Focus on Your Invention's Benefits 50
Your Invention Must Have Competitive Advantages 53
What's the Profit Potential? 55
PART TWO – PROTOTYPE DEVELOPMENT 59
Chapter 6:
Create a Prototype 60
Prototype Development and Evaluation Flowchart 61
Turn Your Idea into a Prototype 62
Goals for Your Prototype 62
User Scenarios 63
Prototype Requirements 64
Prototype Development 66
Chapter 7:
Get Feedback on Your Prototype 74
Prototype Interview Plan 75
Recruit Attendees 75
Conduct Interviews 77
Feedback Survey 80
Prototype Summary 81
PART THREE – SELL OR LICENSE
FOR ROYALTIES 82
Chapter 8:
How to Sell or License Your
Patent 83
Licensing Definition 83
Selling Definition 84
Sell Your Patent at Auction 84
Sell to a Patent Aggregator 85
Sell Through a Patent Broker, Not a Submission Company 86
Why You Shouldn't Advertise an Invention for Sale or License 87
Patent Value 87
The 7 Step Process 91
What Do Companies Want? 93
Chapter
9:
The Product Proposal 95
Product Proposal Format 96
Product Proposal Template 98
Chapter 10:
How to Find and Contact Companies
99
How to Find Companies 99
How to Contact Companies 100
Use a Phone Script When Calling Companies 101
Companies With Their Own Submission Process 103
Presenting Your Invention 104
Chapter 11:
Negotiating a Deal 106
Submission Follow-up 107
When a Company is Interested 107
Option Agreement and Letter of Intent 108
Researching and Evaluating an Interested Company 109
Important Terms of an Agreement 112
Negotiating to Reach an Agreement and Getting Paid 120
Chapter 12:
Working
With Agents and Consultants 123
Let Someone Else Find Companies for You 123
Where to Find Agents to Sell or License Your Invention 124
PART FOUR – SELF-MARKET, DEVELOPMENT, PRODUCTION, AND LAUNCH 126
Chapter 13:
Market Planning 127
Product Planning Flowchart 129
Market Planning 129
Market Planning 130
Your Future Customer 131
Product Positioning 138
Pricing for Profit 140
Marketing Communications Plan 144
Plan with a Launch Checklist 148
Chapter 14:
Product Planning 151
Product Requirements 151
Regulations and Certifications 154
Patent Infringement Search and Freedom to Operate 156
Manufacturing Your Product 160
Project Plan 162
Budget Setting 166
Tips to Making Your Product More Marketable 167
Chapter
15:
How Your Customer Thinks 169
Customer Problems, Needs, and Wants 169
The Many Faces of a Customer 170
I've Got to Have It First 171
Know the Customer's Buying Process 172
Chapter 16:
Product Development 175
Development Flowchart 177
Convert Requirements into Specifications 177
Bill of Materials 181
Test Cases 182
User Documentation 182
Patent Marking 183
Product Production Steps 184
Manufacturing Tips 185
Chapter
17:
Beta Test Your Product 187
Beta Test Plan 188
Beta Recruitment 188
Beta Feedback 189
From Beta to Final Development 190
Chapter 18:
Marketing Development
191
Branding Your Product 191
Product Naming 192
Add Value and Protection with a Trademark 193
Marketing Theme 195
Packaging Your Product 197
Packaging Steps 201
Packaging Tips 202
Chapter 19:
Product Launch ! 204
Launch Preparation 205
Launch Strategy 205
Product Launch Flowchart 206
Finalize Your Product 208
Announce the Launch with a Press Release 209
Supply Product Information 212
Boost Sales with Product Reviews 214
Launch Summary 215
PART FIVE – SELL THROUGH RETAIL, DISTRIBUTORS, TV, WEBSTORES, AND MORE 216
Chapter
20:
Getting into Retailers and Distributors 217
What Retailers Want 217
How to Approach Retailers 218
Fulfillment and Inventory 221
Selling to Retail through Showrooms 223
Hiring a Sales Rep 224
Build a Retail Track Record with Wizard Distribution 227
Selling Your Product on QVC and HSN 228
Selling Your Product on an Infomercial 230
Selling Your Product through Catalogs and Webstores 232
Selling Your Product as a Private Label 233
Selling Your Product as a Promotional Item 234
More Distribution Channels 236
Market and Sell at Trade Shows 237
Personal Selling 240
Selling Your Product as an OEM 242
Chapter
21:
Marketing and Sales Checkup 244
Marketing and Sales Tracking 244
Sales Losses 245
Customer Satisfaction 246
Competition Review 247
Patent Infringement Review 247
Product Review 248
APPENDICES 250
Appendix A:
Investigate Your Competition 251
List Competitors 251
Collect Detailed Data 252
Organize Data 253
Evaluate the Competitive Environment 254
Combat Competitors 255
Appendix B:
Select Your Target Market 258
Why Select a Target Market 258
Target Market Factors 259
Methods to Select a Target Market 260
Your Target Market 265
Other Targeting Methods 266
Appendix C:
The Market-Step Product Plan
268
Market-Step Product Plan Contents 269
Market-Step Product Plan Sections 270
Product Plan Notes 285
Appendix
D:
Product Math 286
Profit and Loss 286
Return on Investment 287
Break Even 288
Margins and Discounts 289
Appendix E:
Funding Your Idea 293
The Need for Money 293
Types of Funding 294
The Investors 295
Stages of Funding 297
What Type of Funding Do You Go After? 298
To Receive You Must First Give It Up 298
Prepare for Funding 299
Steps to Obtain Funding 300
When Do You Seek Funding? 301
The Investor's Process 301
How Investors Evaluate You and Your Idea 301
Funding Rejection 304
SBA-Backed Loans 305
Other Funding Possibilities 305
Additional Funding Tips 306
Funding Resources 307
Appendix
F:
Business Startup 308
Business Entity Advantages and Disadvantages 308
Business Entity Considerations 313
Business Startup Checklist 315
Further Startup Guidance 316
Appendix
G:
Non-Disclosure Agreement 317
Appendix H:
License Agreement
Explained 320
Introduction 320
Recitals 321
Definitions 321
Grant of License 321
Termination 322
Compensation 323
Right to Audit 323
Improvements 324
Representations and Warranties by Licensor 324
Representations and Warranties by Licensee 324
Indemnification 324
Product Liability Insurance 325
Patent Infringement Lawsuits 325
Schedules 325
Quality Control 325
Confidentiality 326
General Provisions 326
Index 328
Details
Book Title: Patent to Market Success
Subtitle: The Step-by-Step Guide to Cashing in on Your Patent
Author: Matthew Yubas, B.S., M.B.A.
Publisher: Broadword Publishing
ISBN-13: 9780972552189
ISBN-10: 0972552189
LCCN: 2009942043
Genre: Non-Fiction, Entrepreneurship, Inventing
Length: 330 pages
Binding: Paperback
Size: 7.50 x 9.25 x 0.7 inches
Weight: 20 ounces
Price: 29.95