The good thing is that you didn't say you made hell lot of money. You said you made a living. It shows you are not a liar or a cheater. Great job, man.
I started today watching your videos and after one hour I felt like I was in a real classroom. I love your honesty and love of teaching. We need more people like you. I have always been a tinkerer and never really had the guts to go for it. I still don't know where to go . Do you help new inventors? Do you mentor? Jesus!!!! I hope you do. Respectfully Israel Vigil
i love how savvy you are re: being patient and enticing the interested party into asking for more. Likewise in your books re: bringing certain items up later in the negotiating process instead of killing the deal early with too many demands. Great work and thank you so much for all the content and sharing of your knowledge. I think people give you a lot of credit, but not enough. The information age is only as good as the innovators and the innovators are only important if they get heard and you've been an amazing pathway to get innovators heard. Can't thank you and Andrew enough.
I have your books and also a book authored by one of your guests on toys and games. Great information. Working on three projects now. Making a prototype just to see it myself on one of them and drawing out the other two. Simple ideas that in looking at lists and patents, so far finding no idea like these . So also saving money so I can get with your teams to walk me through this...although am diving in on the first one. Researching not only the product categories but also researching patents using every term for the idea I can think of...learning a lot on the way!
Going over this a good 4th time and new diamonds in every sentence. Such great content packed with value. Thank you for doing this for us, absolute legacy and giving back. This is by far one of the best and most practical channels I have found in the last decade. I would love to connect in the future for interviewing you for Millionaire Flix once I have my show there. This is absolute brainfood. The best university in the world just happened. On my laptop. In my home. From youtube. For free. Humbling. Thank you, massive respect and bowing down.
Wow Steven did I just learn a whole lot form this 20 min video you shared so eloquently! I just reached out to Carmine and I am at DFM with my lint remover newly invented product and had a good one hour phone call with him on what he plans to do to take my product at this current DFM ready stage all the way thru production! If you could, please give me your opinion on me writing with Carmine and the kind of value he brings to the table. I was pretty impressed but would like to capitalize and make sure he is the right fit for me for a consumer goods product newly invented lint remover/roller designed to remover pet hair and lint! Thanks for all your knowledge and feedback in advance and great videos man for real. The patent thing and having a sell sheet is huge for validating the market! My mentor told me that I need to do a Kickstarter campaign and this is the end all be all so if not successful on Kickstarter the. Don’t go ahead with the product! Love to hear your thoughts on the Kickstarter validation as well? Thanks 🙏🏻 Eldar-
Hi Eldar. We believe licensing is the best and least risky path to market for most consumer product ideas. Remember: If you want to become a successful inventor, you and only you must become the expert of your invention. In our opinion, Kickstarter is too much risk if you're not ready to ship. Here's a lengthy article Stephen wrote on how to protect yourself if you crowdfund: www.forbes.com/sites/stephenkey/2018/01/31/considering-crowdfunding-16-ways-you-can-fight-back-against-copycats/. Happy to discuss with you: www.inventright.com/contact
inventRightTV I just set up a call for Monday at 10:30 am central time US but I really thought I was going to talk to you - unless it’s Steven or yourself I rather not speak to anybody else!! Regardless of how qualified they are, I can careless! Please feel free to call me at anytime 414 650-1885, I am based in Milwaukee Wisconsin! Two quick questions: Your knowledge and recommendation on Carmine D. And I spoke to him earlier yesterday and he is helping me with my manufacturing and DFM work! Can you please let me know if it is a good idea to let him run my manufacturing process and design work to get to DFM? 2. Secondly, in order to be successful on Kickstarter, I would need to put up at least 10-15k and that is being nice when I say 10-15k? Plus I have to drive traffic to it, which will cost at least 3-5k for a few days to a week or two plus video editing and copywriting and marketing the page is a lot of money! Once I get to the shipping phase, do you think I should definitely do Kickstarter and is it the end all be all? Would really live to get in a 10 min, if that, call with you like I mentioned before call me whenever you like on 414 659-1885, and please comment on what you think of Carmine D ad not an inventor but someone who helps inventors scale their inventive products? His network with big box retailers (purchase order funding), Angel inventors, etc! 🙏🏻🙏🏻🙏🏻🙏🏻🙏🏻
Stephen, you say that a company that has a third party person reviewing submissions it's a red flag but that is the case with Lifetime Brands, I thought they were considered an inventor friendly company by inventRight, one of the top guys even was a guest on your webinars a few months ago. Is that no longer the case?
After the PPA expires, can companies that licensed from inventors stop paying royalties? Other companies can also copy the product. So while first mover can get revenue, once copycats come in, the honeymoon is over? I believe the problem is the patent application process is , for PCT, you need to file all the countries you want within a period where the first examination is unlikely to have concluded. This leads to unneccesarily filing multiple applications in as many countries when its unclear if your claims make the cut. The large companies are not as affected as individual inventors.
This is a very complicated question. I would highly recommend getting legal advice. You can always reach out to me with a private message at stephenkey@inventright.com Thanks for watching!
Great presentation guys! Question: if the inventor is based outside the US, is it better for that non US inventor to file their provisional application in their home country, or is it better for the non-US inventor to file their provisional in the US? or possibly in both in the US and their home country. From what I understand, the provisional carries equal weight for any member of the PCT. Thanks!
i have this product in mind thats similar to another product but has a ton of unique features. There are only two big companies that do this but i really can see myself having this product myself and selling it on my website. how would i go about this??
Yo Stephen! Do you review product ideas as well, just like Marc? Then if you like it, you work with the product developer also? Then maybe share the profits later, if the product becomes a hit? 🤔
You can file a provisional patent application most anywhere in the world in United States. Then before one year is up you can designate other parts of the world. Please get legal advice in your country.
Great video ! You talked about evaluating the wholesale price, would you expand on that please, in my mind, wholesale price is oftent 50% of retail am i correct ?
Hi nice video, so I have an idea for a card deck video game, can you let me know if there is a company I could license it too. & do you have a list of company that would take ideas from unsolicited persons. Also do you yourself help persons to get their ideas across to company even if it means you also getting a cut from the deal??? Thanks.
Hi Stephen, your videos are incredibly helpful, realistic and motivating. Thank you for your precious work and time! I will have a reason to contact you in a few months and I would be happy if it actually works! Greetings from Munich, Gerhard
Thanks Stephen for your expertise, my mind is absorbing every second of your knowledge. I am an expert (self proclaimed of course) in my field and think I have a product that would be utilized for an indefinate amount of time that would transform elements of my industry but also cross markets. I am trying to find the fastest way to get the product to potential buyers while protecting my intellectual property.
Hello, I have filed a patent for my invention and it's published in intellectual property journal. Bt don't know how or where to find companies which will be interested in my invention. I emailed various companies bt got no response. What should I do ?
If I have a revolutionary idea to change the holiday decorating system how do I sell the idea if I already had a provisional patent and a patent search. How do I just pitch the idea with the research that I have
Can a simple, fabric clothing item be licensed for our profit? I ( came up with an idea for and am already creating and have a website to sell such an item, but I suck at marketing and selling, and its a weather relative clothing item and i live in a sunny climate where this item is not really needed other than a month or two of the year, so not selling it much. But a larger company could make and sell it nationwise or worldwise for places with longer cold climate weather.
Great question it all depends. Do you have some type of perceived ownership, such as a Trademark or Patent, or even design patent? Typically, it’s very hard to protect apparel if there’s no functionality. And this is one industry in which is difficult to license ideas in. -Stephen
@@inventRight I dont have a patent or trademark. I just began making them for myself, then some people commented liking them so ive made maybe 100 of the items i have in stock in various patterns. Its a small, simple clothing item that is essentially a variation on a common clothing accessory. I made it to be more convenient , less bulky. Essentially a scarf, without the extre trailing bulk of material. I have hade my own domain name and website and business cards for about 2 years now,. But have only sold maybe 15 so far.
13:30 How is it insulting/ frowned upon/bad of a company to hire a company that’s sole job is to do exactly what they need. If it’s a good company it’s only beneficial for both parties.
- Hi Stephen Key. All is very good, but? Basic Universe low :- "To stay something, must to have conditions for this. " This low, giving possibility to looking in Future and making this future. Zahari Gerov.
To be an inventor in 2020.... You need to have s few different hats, 1. Industrial Design Engineer hat, 2. Product Design Engineer hat, 3. The product idea that will/may sell hat, 4 .Machining and mechatronics hat, 5. Digital Marketing hat, Commerce/business/Trade sourcing supply chain Hat, 6. Image editing and digital art/skill hat..... 7. Legal and lawful hat...wait wait wait there is more... hang on...
@@trexinvert If you can learn "Blender", you get a massive head start and this open source free software will open your eyes in new ways if you let it. Marketing is everything (I quote.. how to sell ice to escimos) learn the tools and lot of them are in blender.
There's important nuance here, which is WHEN do you need these things and WHAT are they for and WHY you are paying for them. Remember: Most patents never make any money. If you want to become a successful inventor, paying for an expensive patent and prototype on every idea you have is not a winning strategy. Please keep reading and watching to learn the details of the inventRight approach to commercializing products. Thank you for your question! Stephen's new book covers these questions at length: www.amazon.com/Become-Professional-Inventor-Insiders-Companies/dp/B0872HW77Q/
great video, however i think it works different in my country. Yes, you look like a honest inventor. I think somehow 99.9% of inventors are very honest and sometimes naive.
inventRightTV yes I agree selling your inventions on your own website & licensing your products out to another company are two different tasks but that shouldn’t stop the inventor from first try to sell them themselves & then if it doesn’t take off then you can license it out.
