Crowd funding is not right for most inventors. In this video Andrew does a deep dive into the reasons and gives you a much better alternative. The alternative is licensing. With licensing, you get the money, the workforce and the distribution all in one place with very little risk. And you don’t need to start a company. But you can still go big with your invention ideas when licensing. Actually much bigger than you could on your own!
How do you license an idea? How do you patent an invention? Learn how to become a profitable inventor and earn passive income from your creativity following the advice of inventors Stephen Key and Andrew Krauss. They are the world’s leading experts on how to license a product idea. If you have an invention idea, inventRightTV is the show to watch.
Stephen Key and Andrew Krauss are the cofounders of inventRight, a coaching program that has helped people from more than 65 countries license their ideas for new products.
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This is the book you need to license your product idea: “One Simple Idea: Turn Your Dreams Into a Licensing Goldmine While Letting Others Do the Work.” Find it here: http://amzn.to/1LGotjB.
This is the book you need to file a well-written provisional patent application: “Sell Your Ideas With or Without a Patent.” Find it here: http://amzn.to/1T1dOU2.
Determined to become a professional inventor? Read Stephen’s new book «Become a Professional Inventor: The Insider’s Guide to Companies Looking For Ideas»: https://www.amazon.com/gp/product/1653786256/
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Thank you Andrew, also,isn't broadcasting your idea publicly after with in the year of filing your ppa renders it public property ? Did i get this wrong?
For these crowdfunding campaigns, you must fork over Around $5k to make a decent promo video.
You know that if you're getting such good information in such short videos theres some real value here. I really appreciate the professionalism here and getting straight to the real information, something really lacking today.
Thank you for this advice. It was very useful. How do you approach companies to license your product? Also how much royalty you ask? Can you get a certain amount in advance and a percentage of sale/profit? What is the regular percentage?
If I acquire a legitimate Patent through a licensing agreement and partnership with a manufacturer and a competitor tries to infringe on said patent, Am I responsible for trying to protect it ?
So Andrew. Do you apply for a PPA for your idea, before you approach the companies that might be willing to product license your idea? Or do you do it, after you get commitments from the companies? 🤔
Yeah but licensing doesn't pay crap!
Andrew, Will your coaches tell a student upfront if they think a particular idea or invention won’t fly & why? Thanks.
I have an idea for a board game. Are they something that you work with or are board games another category? Do you have any helpful resources for game ideas? Can you do a video on board games? Thanks.
What should i do If a potencial licensee ask to see my PPA?
My biggest issue with crowdfunding is definitely the public disclosure and being knocked off. Venturing is too rich for my wallet. I’ll stick with licensing.
Your points definitely make sense. Question Can you crowdfund for help purchasing something like a 3d printer?
Please help 🙏
I heard that you need raise an average of $500,000 to $1,000,000 from angel investors to launch a new product, crazy!. I would love for you to do a video on angel investors as well. Great content as always.
Thank you, Andrew!!