inventRightTV Podcast

Bringing an invention to market? Let inventRight, the world's leading experts on product licensing, show you how. Cofounded by Stephen Key and Andrew Krauss in 1999, inventRight has since helped people from more than 60 countries license their ideas for products. Visit http://www.inventright.com for more information and to become their student.

Call #1-800-701-7993 to set up an appointment with Andrew or another member of the inventRight team to discuss how we can help you license your ideas.

New to licensing? Read inventRight cofounder Stephen Key’s bestselling book “One Simple Idea: Turn Your Dreams Into a Licensing Goldmine While Letting Others Do the Work.” Find it here: http://amzn.to/1LGotjB.

Want to learn how to license your product ideas without a patent? Stephen's book “Sell Your Ideas With or Without a Patent” explains exactly how. 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/

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.

Tiffany Krumins is the inventor of Ava the Elephant, a simple device that makes it easier for children to take their medicine. It is the only singing children's medicine dispenser! She was the first winner of ABC's "Shark Tank" where she secured an investment from Barbara Corcoran. Today she is also the founder of Mom Genius. In this video, Tiffany and product licensing expert Stephen Key discuss her journey into entrepreneurship, including how she came up with the idea, how she prototyped it, how she ended up on Shark Tank, and much more. They also discuss how she ended up licensing her idea to Baby Delight after venturing and growing her business with Barbara, as well as her future plans.

She's a pro at securing press for her inventions and herself, having been featured in Dr. Oz, Fox Business, Entrepreneur, Forbes, and most recently the Today Show.

She is also an iHeartRadio host, respected advocate for inventors, motivational speaker, and mother of three!

Get to know Tiffany: https://www.tiffanykrumins.com/

https://www.linkedin.com/in/tiffanykrumins/

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/

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.

Aaron Krause is a highly accomplished entrepreneur and inventor with more than 25 years of experience patenting and manufacturing innovative products. To date, he holds over 50 patents and trademarks. With products in major big-box retailers and acquisitions by industry giants such as 3M, Krause is a self-made entrepreneurial success story who prides himself on hard work, dedication, and imagination.

After graduating from Syracuse University with a degree in psychology, he found his niche in the car detailing industry much to his parents’ dismay. This led to the development of a double-sided buffing pad that solved many problems in the car detailing business. He continued to refine the pad, gain additional patents, and create more car detailing products! In September 2008, after lengthy discussions, 3M agreed to acquire his company.

You probably know him better as the Daddy of the Scrub Daddy from the hit ABC show Shark Tank. After successfully pitching the sharks, he received a capital infusion from prolific inventor and celebrity mogul Lori Greiner. Since then, Krause and Greiner have sold tens of millions of their smiling sponges to well-known retailers, including QVC, Bed Bath & Beyond, Wal-Mart, Target, Kroger, Home Depot, Lowe’s, Ace Hardware, Giant, Dollar General, and Amazon.

Scrub Daddy has exceeded $286 million in retail sales since its Shark Tank appearance and continues to gain recognition as a household brand. Krause has significantly expanded the company’s product line with extensions and iterations, leading The Wall Street Journal to dub it a contender in the half-billion-dollar sponge market.

In 2014, Scrub Daddy was named the “Most Successful Product” in Shark Tank’s history. In 2016, he won Ernst & Young’s Entrepreneur of the Year Award for Greater Philadelphia and went on to become a national finalist for the award, and Scrub Daddy won Philadelphia Business Journal’s Best Places to Work 2016.

Krause continues to dedicate himself to solving problems through innovation and invention, as well as start companies!!

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/

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.

The majority of patents never make any money. So, how can you make sure the intellectual property you file — whether a provisional patent application or a non-provisional patent application — actually has value in the market? First, you should follow the advice of successful entrepreneur-inventor Stephen Key.

In this video, he explains how you can make sure the provisional patent application you file actually has value. Meaning, this is an invention someone will want to pay you for! Maybe that's a consumer, a licensee, or you're raising money for your startup.

Stephen offers tips and advice on filing intellectual property that will benefit you and have value in the marketplace. This is how you avoid ending up with a patent that is worthless.

No one can do this for you. You have to do it yourself! And you can.

First, do a Google Image search. Can you find anything similar? If not, you have a problem. This is how you determine your point of difference.

Then, do a prior patent search. No one will look as long or as hard as you will, but realize you cannot find everything.

Once you get that point of difference down, it will be much easier to discuss it. You can use your point of difference as a selling tool.

Stephen also discusses the value of prototyping, including knowing what works and what doesn't, playing with variations, workarounds, and more. Make sure anyone you hire cannot claim co-ownership.

Keep it broad! Don't forget about materials. Without manufacturing know-how, how will you get the product made?

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/

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.

Bringing an invention to market? Let inventRight, the world's leading experts on product licensing, show you how. Cofounded by Stephen Key and Andrew Krauss in 1999, inventRight has since helped people from more than 60 countries license their ideas for products. Visit http://www.inventright.com for more information and to become their student.

Call #1-800-701-7993 to set up an appointment with Andrew or another member of the inventRight team to discuss how we can help you license your ideas.

New to licensing? Read inventRight cofounder Stephen Key’s bestselling book “One Simple Idea: Turn Your Dreams Into a Licensing Goldmine While Letting Others Do the Work.” Find it here: http://amzn.to/1LGotjB.

Want to learn how to license your product ideas without a patent? Stephen's book “Sell Your Ideas With or Without a Patent” explains exactly how. 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/

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.

Is your idea good? How do you know? How does anyone know when they have a good idea? Product licensing expert Stephen Key explores this topic and explains why he doesn't believe you ever really know you have a good idea at the beginning. And you probably shouldn't believe anyone who insists they have all-knowing powers of insight into whether your product idea is good!

That said, there are indicators that a nearly finished or finished product will be a success, and that often comes down to the details — the experience of the product. When MicroPuzzles landed on Stephen's desk because the entrepreneurs who make them are a fan of his advice, he was totally blown away and impressed by the product and its packaging. He explains in detail why he thought it was a good idea, and why he decided to reach out to his longtime mentor Steve Askin, who is a product scout and a very successful entrepreneur in his own right.

Learn more about MicroPuzzles: https://micropuzzles.com/

Learn more about Steve Askin: https://youtu.be/fQnIzF4Dn_w

Go deeper into the topic of how you test and evaluate your ideas for products with Stephen: https://www.inventright.com/deepdive

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/

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.

Jason Amendolara is the president of Fred & Friends, a division of the kitchenware behemoth Lifetime Brands. Fred & Friends makes ridiculously charming and inventive novelty gift products across a wide variety of categories, including kids, kitchen, bar and party, desk and stationery, tech, home, table, and life in general. These products are fun, functional, and will put a smile on your face.

Before he was promoted to lead the company in 2015, Jason was the director of design at Fred & Friends for nearly 20 years. He received a Bachelor of Fine Arts from the prestigious Rhode Island School of Design. In addition to maintaining its own creative studio, Fred & Friends works with an ever-expanding list of talented creatives from all over the world, including England, Europe, Latin America, Israel, China, Turkey, Korea, and Thailand.

If you’ve got a wicked sense of humor and like to turn simple ideas into licensed products, do not miss this event!

The novelty gift industry is where inventRight cofounder Stephen Key got his start licensing his ideas for products. It’s a great one to dip your toes in as an independent inventor.

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/

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.

Dropping in from vacation on Flathead Lake, Montana, successful inventor Stephen Key offers his best tips and advice for making a living from your invention ideas. For many years, Stephen supported his family with the income from his licensed inventions. Today he is also the cofounder of inventRight, a coaching company that empowers inventors with the knowledge, resources, and hands-on guidance they need to license their product ideas onto the market.

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/

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.

Stephen Key and Andrew Krauss at inventRight have been coaching and mentoring entrepreneurs and inventors for the last 20 years on how to bring their products to market through licensing. On inventRightTV, we have over 500 videos helping you commercialize your inventions by licensing your product ideas.

What we teach and guide people to do is called product licensing. You're basically renting or licensing your product idea to a company that's already in business. They're currently selling their own products online and in stores, and they're going to bring your product to market, and in exchange, they're going to pay you a royalty on each and every unit they sell. So they're doing all the heavy lifting while you supply them with the great idea. It's a perfect partnership.

The traditional way to bring a product to market is to start a company. That means you must write a business plan. You've got to raise capital, do the marketing, manufacturing, advertisement, fulfillment. And in most cases, dump everything else you're doing because running a business is all-encompassing.

But there are many people that don't have the time, money, experience, or desire, to start a business. When you license your product to a big company that already has shelf space, they can bring it to market very quickly. And because of their size and distribution, it's the best way to protect your idea from copycats, sell it first and sell it fast, license it. There are simple tools to test the market without spending large amounts of capital, filing expensive patents, or even building expensive prototypes. You do not need to quit your day job.

As with any business, there is always risk, but with the licensing business model, you're putting the vast majority of that risk off onto your licensee and you can work on and test a lot of ideas. And you'll always have the financial bandwidth to move on to your next idea, because you're selling the benefits first, without building prototypes, filing expensive patents, or even starting a business. So, your costs are extremely low compared to manufacturing the product yourself.

You guys are going to learn so much on inventRight TV. You're going to learn how to find companies looking for ideas. You're going to learn how to license your product with a simple one page advertisement we call a sell sheet. You're going to learn how to protect those ideas of the provisional patent application. You're going to learn what's important when signing a licensing agreement. Basically, you're going to learn how to become a professional inventor and learn the licensing business model. Also, you're going to learn from industry experts, giving you the latest tips, advice, and strategies.

So thank you for being a part of our inventing community. And if you need more information, you can also call us at 1-800-701-7993. Or you can personally email me at [email protected]. Take care, keeping inventing, and check out inventRightTV.

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.

Join the inventRight community for priceless inventor education, mentorship, support, accountability, hand-holding, honesty about the invention industry, and so much more.

“One Simple Idea: Turn Your Dreams Into a Licensing Goldmine While Letting Others Do the Work.” Find it here: http://amzn.to/1LGotjB.

“Sell Your Ideas With or Without a Patent.” Find it here: http://amzn.to/1T1dOU2.

"Become a Professional Inventor: The Insider's Guide to Companies Looking For Ideas": https://www.amazon.com/gp/product/1653786256/

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.

Bringing an invention to market? Let inventRight, the world's leading experts on product licensing, show you how. Cofounded by Stephen Key and Andrew Krauss in 1999, inventRight has since helped people from more than 60 countries license their ideas for products. Visit http://www.inventright.com for more information and to become their student.

Call #1-800-701-7993 to set up an appointment with Andrew or another member of the inventRight team to discuss how we can help you license your ideas.

New to licensing? Read inventRight cofounder Stephen Key’s bestselling book “One Simple Idea: Turn Your Dreams Into a Licensing Goldmine While Letting Others Do the Work.” Find it here: http://amzn.to/1LGotjB.

Want to learn how to license your product ideas without a patent? Stephen's book “Sell Your Ideas With or Without a Patent” explains exactly how. 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/

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.