Some Common Sense

Years ago people would ask me how we develop our products and I would explain the entire process from A to Z. Why not? It was my baby and I was excited about it. Today, however, I define our invention process with six simple words: making your invention easier to license.

It often seems that many people are confused about how to develop their ideas into an invention. Understanding the confusion – I mean it was all new to me at one point – I willingly contribute free-of-charge what I have learned over the past 17 years. Here it goes:

First off, always use your common sense. Next, if you are going to try and sell your invention off to a company under a license agreement and try to collect the royalties, it’s your responsibility to make it as easy as possible for the execs at the company you want to sell it to. Gather information on the following:

1. Research what company has a product line and/or business model that your invention would be compatible with. Ask yourself what product categories they work in? What price points do they target? What’s their “look” on the shelf, including size and brand?

2. Design your invention to fit their company so it integrates easily.

3. Build your invention so that executives can see that your invention is compatible and fits easily within their business.

4. Create full color packaging with photographs showing the invention in use, so the executives can get the picture.

Remember, you’ve been a consumer of products your whole life. You have skills and desire to help you carry on your quest. Rely on your common sense and keep it simple.

Archives

Search Posts