Selling your invention

Methods of Marketing

There are really only two ways of developing a new idea.

One option would be the ‘do it yourself’ method. First you would find a manufacturer and contract them to produce several thousand units. Then, you would package them and go out and promote them to buyers at retailers and probably try to sell some on the internet. This is the most costly and time consuming route, since all of the: marketing, warehousing, packaging, shipping and distribution logistics fall on the inventor. Some inventors have found that quitting their day job was the only way to properly accomplish this.

The other option is licensing. Licensing is the process where an inventor sells or rents the right to his/her idea to a larger company. Most commonly, the inventor receives a ‘per unit’ royalty and/or upfront fees for his/her idea. This option tends to be a simpler and less costly approach to new product development. Probably 95% of inventors will simply license their idea.

The Licensing Process

The process of licensing can be broken down into 3 steps known as:

The Three P’s Of Licensing™

  1. PATENT: Secure Your Rights!

    Apply for patent protection (gain patent pending status) and possibly trademark protection.

  2. PRESENTATION: Maximize Potential!

    Develop a compelling visual presentation that will demonstrate the exciting features and benefits of the invention.

  3. PROMOTION: Make the Calls!

    a. Prepare a database of at least 20 potential licensees.
    b. Companies should be large and medium sized and consist of a cross section of manufacturers and distributors.
    c. Contact the companies by phone and promote the opportunity.
    d. Negotiate a royalty/license contract.

Please note: a product must be patentable to be licensed. Contact us at 1.855.833.1382 to discuss what makes an idea patentable.

Email now for an immediate response on how to get started with a new idea:


How to Patent an Invention
How to Patent an Invention
How to Patent an Invention
How to Patent an Invention
How to Patent an Invention Most Common Promotional Errors:

How to Patent an InventionPresentation not focused on distributors & retailers needs.

How to Patent an InventionPoor product visuals and description.

How to Patent an InventionNo well planned aggressive/consistent phone campaign.

How to Patent an Invention

Innovative Licensing & Promotion Offices:

TORONTO
100 King Street West
First Canadian Place, Suite 5700
Toronto, ON M5X 1C7
Phone: 647.461.9395

CALGARY
Alastair Ross Technology Centre
Suite 438, 3553 – 31 Street N.W.
Calgary, AB, T2L 2K7 Canada
Phone: 403.813.4471

WEST PALM BEACH
500 Australian Avenue South
Suite 600
West Palm Beach, FL 33401
United States
Phone: 561.403.2833

OTTAWA
World Exchange Plaza
Suite 1150, 45 O’Connor St
Ottawa, ON K1P 1A4
Phone: 647.557.6668

 
EDMONTON
Scotia Place, Tower 1
Suite 2020, 10060 Jasper Avenue
Edmonton, AB, T5J 3R8 Canada
Phone: 780.665.4916

VANCOUVER
Suite 600, 1285 West Broadway
Vancouver, BC V6H 3X8
Phone: 604.838.7718



Is your idea Patentable? Contact us to set up a Confidential Patentability Assessment - 1.855.833.1382
Is Your Idea Patentable?
Contact us to set up a Confidential Patentability Assessment

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