Service to Sell or License Your Product Ideas to Companies
Your Situation: You have a product idea that you want to sell to a manufacturing company for a lump sum or license for royalties.
This service helps you sell or license your product idea. We contact manufacturing companies for you, get them interested, and negotiate a deal on your behalf.
Benefits of Licensing and Selling Ideas
When you sell or license to a company, you don't have the hassles and expense of manufacturing, marketing, and distribution.
The company you sell or license to, already has the connections to get products into retail stores and online stores.
When you sell your invention, you receive a lump sum payment or a series of payments. Once you sell your invention, the company has total ownership. Even if the company doesn't turn your invention into a product you keep the payout. Selling an invention is called an assignment.
When you license, you're giving a company permission to manufacture, market, and sell your invention. In turn, you receive royalties. This is like a owning a home and renting it out for a stream of income.
With the licensing deal, you may also get an Advance. An advance is a non-refundable payment you receive toward future royalties. You can also receive a License Fee. A license fee is a non-refundable payment. Think of a license fee as a signing bonus you get to keep no matter how many units are sold.
Avoid the Pitfalls and Typical Inventor Mistakes
Why do inventors fail to get a deal when they try to do-it-themselves? Typically, inventors call companies to take on their idea, only to be ignored or rejected. Inventors have told me this over and over.
Companies want to know about an invention from a business perspective.
Inventors who call companies or blindly mail booklets, often talk about their idea in terms of features and benefits. That's good and important, but there's a disconnect between the inventor's point of view, and the company's need for business information.
The Process to Sell or License Your Ideas
I follow a proven process to sell or license your invention. I previously I worked for companies as a Senior Product Manager and know how they work from the inside.
I know what interests companies, how to approach them, and who to contact.
With a background in Engineering, a Master's in Business, and years of business experience, I bridge the gap between inventor and companies who are interested in licensing or buying your invention.
The Steps To Get You a Deal
- Step 1: Meeting to Prepare You - To begin the process of working together, we will have a one-hour telephone
meeting to discuss your product idea and prepare you to license or sell your invention.
You'll receive my professional opinion about your idea and explain the best process to sell and license product ideas.
In addition, I'll get you ready to meet the expectations of company executives. You'll also receive my suggestions, recommendations, and next steps to take.
- Step 2: Create a Product Proposal - Companies need to understand your invention from
a business perspective. A main ingredient is to create a Product Proposal.
Like a mini-business plan, a Product Proposal clearly states the market need, product description, benefits, advantages over the competition, profit potential, and other information as needed.
- Step 3: Search for Companies and Make Contact - After your Product Proposal is completed, the search begins for a suitable company.
I'll search for up to 10 companies that offer a best fit for your product idea. I'll find important people (CEO, President, Vice-President, Managers) in the companies and make a personal contact to pitch your product.
When they are interested, I'll send a letter along with your Product Proposal. Then, I'll follow-up to generate interest in pursuing a deal.
- Step 4: Negotiate a Deal - Once a company is interested in your product idea, I'll assist you with negotiations and presentations. I will come up with negotiation points such as royalties, advances, territory, field of use, etc.
- Step 5: Review Agreement - When a company offers you a deal, you will receive an Agreement. I'll review the business terms in the Agreement to make sure they are in your best interest. This is a contract and should also be reviewed with an attorney. If you do not have an attorney, I can refer you to an attorney.
- All discussions are confidential. My business depends on my honesty and your trust in me.
- I will sign a Non-Disclosure Agreement after you order Step 1, and before we talk.
- To get started, please click the Step 1 "Add to Cart" button below.
- After you place your order, you'll receive a brief questionnaire to prepare you for our telephone meeting.
- Email the questionnaire back, then we'll set a date and time to talk.
STEP 1: Meeting for Licensing or Selling Your Invention
Step 1 is a private and confidential meeting to help you sell or license your product idea to a company.
You'll receive my professional opinion about your idea and I'll inform you of the process to sell and license product ideas, and get you ready for what companies will expect. You'll also receive my suggestions, recommendations, and next steps to take.
Steps to Order
1. Click the "Add to Cart" button.
2. Use your credit card, or login to your PayPal account.
3. Make a payment.
4. We set a date and time to talk.
Note: Order Now to lock in the price. You have up to a Year to begin Step 1.
I look forward to helping you sell your invention for a lump sum or license your invention for a stream of royalties.
After you place your order, you'll receive a brief questionnaire to prepare you for Coaching.