How can you protect your invention? How can you make sure that you profit from your inventions? If you want to be a profitable inventor, you have to keep things confidential. There's a lot of fear among inventors. So, what can you do to prevent someone from taking your idea from you? What are the best ways inventors, product developers, entrepreneurs, and anyone with a great new idea can protect themselves and their invention?
Intellectual property strategist, "One Simple Idea" author, and inventRight cofounder Stephen Key offers tips and strategies from the decades he spent making a living as inventor. This is your honest guide to profitable inventing!
You're excited, you want to share your idea — but stop. Don't post your confidential information on social media. Inventors think that if they post their invention on LinkedIn, the right company will discover them. That's too much exposure. The wrong company or person could see it, and copy you, and before you know it, you see it on Amazon. You could also lose out on your ability to file and obtain intellectual property rights for your invention.
Before your product is on the market, keeping mum is wise.
If you're not in production selling anything, you should go to your industry's trade show — but you should not purchase a booth and wait for someone to discover you. But don't just leave your sell sheet there! Keep things more confidential. Get THEIR card so you can follow up. This is acting like a professional. This also helps you create a paper trail.
Stephen also describes the importance of reaching out to the right companies — companies that actually want to work with inventors. And this does not include many big players at all.
Stephen Key and Andrew Krauss are the world's leading experts on how to license a product idea. If you have an invention idea, this is the show to watch. Steve and Andrew are the cofounders of inventRight, a coaching program that has helped people from more than 60 countries license their ideas for new products. Visit http://www.inventright.com for more information and to join the one-one-one coaching program.
If you have questions about how to invent, how to be creative, design, how to do market research, prototyping, manufacturing, negotiating, pitching, how to sell, how to cold call, how to reach out to open innovation companies, licensing agreements, non-disclosure agreements, patents, copyright, trademarks, and intellectual property in general — subscribe to inventRightTV! New videos every week, including tons of entrepreneur success stories.
Inventing can be lonely, but you don't have to go it alone! Join the inventRight community for priceless inventor education, mentorship, support, accountability, hand-holding, honesty about the invention industry, and so much more.
Contact us at #1-800-701-7993 or https://www.inventright.com/contact.
This is the book you need to license your product idea: “One Simple Idea: Turn Your Dreams Into a Licensing Goldmine While Letting Others Do the Work.” Find it here: http://amzn.to/1LGotjB.
This is the book you need to file a well-written provisional patent application: “Sell Your Ideas With or Without a Patent.” Find it here: http://amzn.to/1T1dOU2.
Determined to become a professional inventor? Read Stephen's new book "Become a Professional Inventor: The Insider's Guide to Companies Looking For Ideas": https://www.amazon.com/gp/product/1653786256/
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