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ISBN-13: 9780972552189

Table of Contents, Details


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


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