ABOUT THIS EPISODE
Join Andrew Krauss and Stephen Key, co-founders of Inventor Groups of America (IGA), as they tackle the real-world challenges faced by inventors and entrepreneurs. From turning ideas into successful products to avoiding common licensing pitfalls, this session covers it all! Dana Nolles and Kevin Prince join to offer additional strategies and patent insights. Don’t miss this deep dive into licensing, pitching, and taking your inventions to market!
00:00 - Welcome & Introductions
01:10 - What is IGA?
02:24 - Avoiding common inventor pitfalls
03:20 - The difference between licensing & venturing
05:43 - Can you pitch to Walmart or Costco?
08:37 - Why licensing has become more competitive
10:19 - Strategies for standing out
12:32 - How to keep going despite challenges
15:16 - Making your outreach look professional
19:29 - Using LinkedIn to pitch ideas
22:35 - The power of persistence & working with partners
26:47 - Tips on getting seed funding for production
33:19 - Patents in Africa & licensing internationally
45:46 - Licensing agreement basics & term sheets
49:15 - Are companies still accepting new submissions?
54:11 - Why licensing works without patents
59:23 - Patent Q&A with Kevin Prince
1:28:47 - Final thoughts & closing remarks
Have an invention idea? Turn it into a product and get it into stores and selling online — we show you how on inventRightTV. Whether you're trying to pitch an idea, make a prototype, get a patent, build a business, or land a licensing deal, you're in the right place. What you need to know to sell an idea and get paid. (Featuring real-life stories from entrepreneurs like you.)
Learn what to do when you have an invention idea, including how to:
— Pitch your invention ideas to companies who will license them
— Protect your idea with a provisional patent application (PPA)
— Create a simple prototype (even if you're not an engineer)
— License your product and earn royalties (also known as passive income)
— Avoid costly mistakes, scams, copycats, and getting ripped off along the way
We've helped thousands of inventors license their invention ideas, see their products on the market here: https://inventright.com/members-success/
Hosted by inventRight founders Stephen Key and Andrew Krauss. Most inventors and most products fail. Beat the odds and become a successful inventor!
Subscribe to go from idea to product.
We are experts in licensing products. Set up a free consultation with inventRight: https://inventright.com/contact/
Hire inventRight to contact companies for you: https://inventright.com/gateway/
Hire inventRight to guide you to a licensing deal: https://inventright.com/coaching/
Get a prototype: https://inventright.com/prototype/
Get strong, affordable protection for your idea: https://inventright.com/patents/
Call +1 (650) 793-1477
Email support@inventright.com
New to product licensing?
Read Stephen Key’s book “One Simple Idea”: https://amzn.to/4fwVVOT
Free Inventor Resources: https://bit.ly/3AaGko2
*About Stephen Key* Award-winning inventor with 20+ patents and products sold worldwide. Co-founder of inventRight, bestselling author, and speaker on licensing and IP strategies.
*About Andrew Krauss* Licensing expert with 25+ years of experience. Co-founder of inventRight and former president of one of the nation’s top inventor associations. Speaker at USPTO events and innovation advocate.
*About inventRightTV* The #1 YouTube channel for people who want to turn an idea into a product with 86K+ subscribers and nearly 1M monthly impressions.
For sponsorships, email: madeleine@inventright.com
Disclaimer: inventRight is not a law firm. For legal, patent, or trademark advice, consult a professional.
00:00 - Welcome & Introductions
01:10 - What is IGA?
02:24 - Avoiding common inventor pitfalls
03:20 - The difference between licensing & venturing
05:43 - Can you pitch to Walmart or Costco?
08:37 - Why licensing has become more competitive
10:19 - Strategies for standing out
12:32 - How to keep going despite challenges
15:16 - Making your outreach look professional
19:29 - Using LinkedIn to pitch ideas
22:35 - The power of persistence & working with partners
26:47 - Tips on getting seed funding for production
33:19 - Patents in Africa & licensing internationally
45:46 - Licensing agreement basics & term sheets
49:15 - Are companies still accepting new submissions?
54:11 - Why licensing works without patents
59:23 - Patent Q&A with Kevin Prince
1:28:47 - Final thoughts & closing remarks
Have an invention idea? Turn it into a product and get it into stores and selling online — we show you how on inventRightTV. Whether you're trying to pitch an idea, make a prototype, get a patent, build a business, or land a licensing deal, you're in the right place. What you need to know to sell an idea and get paid. (Featuring real-life stories from entrepreneurs like you.)
Learn what to do when you have an invention idea, including how to:
— Pitch your invention ideas to companies who will license them
— Protect your idea with a provisional patent application (PPA)
— Create a simple prototype (even if you're not an engineer)
— License your product and earn royalties (also known as passive income)
— Avoid costly mistakes, scams, copycats, and getting ripped off along the way
We've helped thousands of inventors license their invention ideas, see their products on the market here: https://inventright.com/members-success/
Hosted by inventRight founders Stephen Key and Andrew Krauss. Most inventors and most products fail. Beat the odds and become a successful inventor!
Subscribe to go from idea to product.
We are experts in licensing products. Set up a free consultation with inventRight: https://inventright.com/contact/
Hire inventRight to contact companies for you: https://inventright.com/gateway/
Hire inventRight to guide you to a licensing deal: https://inventright.com/coaching/
Get a prototype: https://inventright.com/prototype/
Get strong, affordable protection for your idea: https://inventright.com/patents/
Call +1 (650) 793-1477
Email support@inventright.com
New to product licensing?
Read Stephen Key’s book “One Simple Idea”: https://amzn.to/4fwVVOT
Free Inventor Resources: https://bit.ly/3AaGko2
*About Stephen Key* Award-winning inventor with 20+ patents and products sold worldwide. Co-founder of inventRight, bestselling author, and speaker on licensing and IP strategies.
*About Andrew Krauss* Licensing expert with 25+ years of experience. Co-founder of inventRight and former president of one of the nation’s top inventor associations. Speaker at USPTO events and innovation advocate.
*About inventRightTV* The #1 YouTube channel for people who want to turn an idea into a product with 86K+ subscribers and nearly 1M monthly impressions.
For sponsorships, email: madeleine@inventright.com
Disclaimer: inventRight is not a law firm. For legal, patent, or trademark advice, consult a professional.
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