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The Real Story - Selling An Idea Yourself VS Licensing It To Big Company
Рет қаралды 4,334
Күн бұрынIn this video, inventRight Co-Founder Andrew Krauss interviews inventRight member Tess LaChance and her coach Paul Sorenson. Tess talks about her licensing vs venturing her product. You can support Tess by purchasing her product here. www.bootbinder...
Learn how to make money from your ideas.
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Hi, this is Stephen Key and Andrew Krauss. We are here to help you make money from your ideas. We started our company inventRight over two decades ago to teach people how to license (aka rent) their ideas to companies in exchange for royalties.
This process is called “product licensing.”
On our channel, we show you exactly how you to take an idea and license it to companies in exchange for passive income.
Today, you do not have to start a business to make money from an idea.
With product licensing, you don’t have to write a business plan, raise money, manufacture, market, sell, or distribute any longer.
Visit our website inventRight.com for more information.
If you have a product idea and need some help, please contact us at:
Phone: +1 (650) 793-1477
Toll Free: +1 (800) 701-7993
Email: support@inventright.com
Email us:
stephen@inventright.com
andrew@inventright.com
Learn how to start a business, how to become an entrepreneur, how to protect intellectual property, how to patent an invention, how to stop people from stealing your ideas, how to prototype an idea, how to contact companies looking for ideas, how to design a product, how to make a sell sheet, how to make a promo video, how to negotiate a licensing agreement, how to get a higher royalty rate, how to do market research, and how to work with inventRight.
Stephen Key and Andrew Krauss are the cofounders of inventRight, a coaching program for entrepreneurs that has helped people from more than 65 countries license their ideas for new products. They are also the cofounders of Inventors Groups of America, an organization that hosts a free, popular monthly educational meeting for inventors online. They have more than 20 years of experience guiding people to become successful entrepreneurs.
New videos every week, including interviews with successful entrepreneurs. Learn from the best! Pitch us your story to be featured on inventRightTV: youtube@inventright.com.
Get your own inventing coach by contacting inventRight at #1-800-701-7993 or by visiting www.inventrigh....
inventRight, LLC. is not a law firm and does not provide legal, patent, trademark, or copyright advice. Please exercise caution when evaluating any information, including but not limited to business opportunities; links to news stories; links to services, products, or other websites. No endorsements are issued by inventRight, LLC., expressed or implied. Depiction of any trademarks/logos does not represent endorsement of inventRight, LLC, its services, or products by the trademark owner. All trademarks are registered trademarks of their respective companies.
Reference on this video to any specific commercial products, process, service, manufacturer, company, or trademark does not constitute its endorsement or recommendation by inventRight, LLC or its hosts. This video may contain links to external websites that are not provided or maintained by or in any way affiliated with inventRight, LLC. Please note that the inventRight LLC. does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
@WavvyMind 2 күн бұрын
I'm a broke inventor with a really really good idea. Thank you for fine tuning my direction. I'll be in touch.
@glennmcgee1729 11 ай бұрын
Appreciate the candor, Tess. This was an exceptional video detailing cost and distribution issues. I see a follow-up success story in your future.
@inventRight 11 ай бұрын
Thank you for the kind words. Tess did a great job and was very transparent. - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
@steventeter3332 Күн бұрын
After watching the video with Mr. Keyes and Mr. Pourtney on licensing V venturing and then viewing this presentation back to back it really puts it into perspective. Whats your time worth and how much time $$ are you willing to sacrifice to bring your producy to market. Don't miss a window of opportunity because of greed.
@BackToLife2 11 ай бұрын
Wow love this idea!
@inventRight 11 ай бұрын
I agree. Great idea. Keep watching and keep inventing! - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
@nicholase19915 10 ай бұрын
Are royalties on the wholesale or retail of the product
@donnabeattiedreamerbydesign 11 ай бұрын
Always learning thank you for sharing guys! 👍💫
@inventRight 11 ай бұрын
Absolutely. -Andrew
@ReignOne11 11 ай бұрын
Can I get a license deal while raising money for the patent? I have been working with "For Sale by Invenor" to bring my concept to the market. They want almost 5k to start, and another 5k after provisional patent is up for utility patent. I am so stuck, I'm not wanting to start a business with this either. I want to license/lease it out. Its a worldwide product (patent searchs have been completed, assessments are all great, etc.). I'd like to move forward, advice please!
@inventRight 11 ай бұрын
Please do your homework. Type in complaints and lawsuits on anyone you decide to work with.
@artemsverhunov7413 11 ай бұрын
Thank you for the video. Do you only deal with US or you could guide people in EU also?
@inventRight 11 ай бұрын
We've had helped members in over 65 countries. It doesn't matter where you live. You can license product from anywhere. - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
@gg-qm2cg 11 ай бұрын
Hey, I think your videos are great but I would like to see the products that's your guest have produced. So I can connect the process with the product and have examples to fall back on. Thank you and keep up the hard work!
@inventRight 11 ай бұрын
Of course. Here are a few of the products our members currently have on the market. inventright.com/buyers-guide/ - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
@gg-qm2cg 11 ай бұрын
What I was wondering about is the process of selecting materials and pricing materials for each component of the product. I got a lot of great insight from each guests and the host. Thank You!
@KRSbumpbars 11 ай бұрын
It depends on the product category and the market, if you venture or license. Tess has a good product, it takes a lot of work and even more money to venture. This is a great sales video for signing up to license, it will scare the heck out of people. Nothing said here is untrue, other than the $50k to venture, that is way to low; think 10x to 20x in reality. But if you are one of the successful ones it can work out.
@inventRight 11 ай бұрын
Very true. Thanks for watching and keep inventing. - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
@inventRight 11 ай бұрын
I think you’re right. People don’t really understand how expensive it can actually be. If you’re not financially secure, it’s just a hobby.
@richardcrum7443 6 ай бұрын
Good Luck
@inventRight 6 ай бұрын
Thanks. - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
@owenbrown4170 11 ай бұрын
I have an idea and that product would sell. I started looking into Utility Patents and it seems like anyone can still steal it, which is fine. I want perceived ownership to be able to sell that idea at some point to another company. Or create a company myself. I need information to be able to create and sell the product.
@inventRight 11 ай бұрын
You are in the right place then. Watch our shows and book a call with us if you'd like to get some help. - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
@americaiswicked 11 ай бұрын
Love the channel but, your classes are way to much in a society that is inflated. With the platforms out there today, a person can actually do better selling to online consumers than dealing with the whole retail chain mess. ETSY, Ebay, Amazon FBA, Walmart Marketplace and so on. By the time you might close a license deal with a company, you could be a top ranking seller on anyone of these platforms. Again, I appreciate the info here, but you guys too are out to make money by winning people over to sign up for your class. At the end of the day, that's what this channel is for.
@inventRight 11 ай бұрын
Thank you for watching!
@danielalexander9636 11 ай бұрын
I get what you’re saying but it’s still cheaper to licensing your own idea than selling it yourself online. Because product development and manufacturing are expensive.
@inventRight 11 ай бұрын
Sometimes it’s best for people to follow their dreams. Wishing you the best Scott.
@Mystery-jk3cq 11 ай бұрын
I disagree with your comment. Inventright is giving out free information from their own experience as well as from their own students experiences. It’s your own individual choice if you want to enlist in their program that helps guide you and hold you personally accountable for your own success. Stephen and Andrew are the real deal. I appreciate all that you guys are doing. I’ve had many invention ideas over the years and was always skeptical about invention submission companies. I want to get my ideas out there and see what happens before I’m too old. Thanks for your channel and keep on putting out the content
@cipiripi6644 9 ай бұрын
Did you even listen to the interview?
@suggesttwo 9 ай бұрын
Venturing is for rich investors. Licencing is for upstarts. They invest you get a cut.
@inventRight 9 ай бұрын
Exactly. You've got it! - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
@empoweringquotesdaily88 10 ай бұрын
Got 6 ideas. Don't know where to start. 😊
@inventRight 10 ай бұрын
Read "One Simple Idea" by Stephen Key - find it in libraries and on Amazon. It describes a proven process for licensing ideas in great detail. You can also contact us for help. Thanks for watching! This process is great for people with lots of ideas.
@empoweringquotesdaily88 10 ай бұрын
@@inventRight I solved a problem of a fishing problem that always lost a big catch of fish like tuna. When there line broke. My idea can remove the 6-8 feet tuna out of the water in minutes
@suggesttwo 9 ай бұрын
If you can't licence it don't build it yourself. Don't venture with money you can't afford to loose.
@inventRight 9 ай бұрын
While not true for everyone, Stephen and i have found over the last 24 years of doing inventRight that this advice is spot on for most inventors. Keep Inventing! - Andrew Krauss, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
@Flandernify 10 ай бұрын
27"": "once you put your product out there, you cant keep file provisional patents". Why not? So long people don't know the exact expiry date (to file one and steal it from you), you keep that strategy to keep costs low.
@johnjosephfontaine2712 10 ай бұрын
She's braver than me 🤔go girl 👍
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