Launch Your Product with Stephen Key

You don't need to build a company to get your product on shelves.

In this video, I'm sharing real numbers from my 40+ years licensing product ideas—the wins, the learning experiences, and what actually generates sustainable income.

**What You'll Learn:**

• How much I earned from early designs (High Flyers, Sweet Darts, Food Flight)

• Why my Disney rotating cups made solid money ($50K+)

• How the Michael Jordan Wall Ball generated $100K+ in first-year royalties

• The rotating label innovation that made approximately $10 million

• Why some ideas made nothing—and why that didn't matter

• The shift from easy company access (1980s-90s) to today's challenges

• How to choose ideas with real profit potential

• Why getting to the right decision-makers is now the hardest part

**The Reality of Product Licensing:**

Making money licensing ideas sometimes happens, sometimes doesn't. But seeing your product on store shelves, on TV, and in customers' hands? That never gets old. The key is having multiple ideas in motion, understanding which ones have real market potential, and knowing how to reach the companies that can scale them.

**What's Changed:**

Back then, I could call companies, send a FedEx package, and get a response. Today, email fatigue and gatekeeping make direct contact nearly impossible. That's why we created Gateway—to handle company outreach, pitch your product, answer questions, and negotiate on your behalf so you can move forward without guessing your next step.

**Ready to explore licensing?**

→ Book a free consultation: https://inventright.com/contact

→ See products licensed with inventRight help: https://inventright.com/member-success

→ Watch testimonials from inventors who've licensed ideas: https://inventright.com/testimonials

inventRight has helped thousands of inventors over 25+ years. We know how to reach decision-makers, position your idea, and get companies to say yes.

Chapters

0:00 Introduction: Sharing Real Licensing Earnings

0:35 Early Career: Street Fairs to First Job at Worlds of Wonder

2:18 First Licensing Deal: High Flyers and Applause Toys

4:14 Learning to Scale: Plush Design and Sweet Darts

6:01 Back-to-School Ideas: Food Flight and Rotating Pens

7:20 Disney Rotating Cups and Canteens: $50K+ Success

8:40 Michael Jordan Wall Ball: $100K+ First-Year Royalties

10:15 The Rotating Label Innovation: From Concept to $10M

12:52 Twist and Learn: TV Success and Sublicensing

14:30 Current Work: Fishbone Packaging Innovation

15:03 Why Licensing Still Matters: The Emotional Reward

15:52 The Challenge Today: Prototypes and Patents Are Easy

16:06 Getting to Companies: Why It's Harder Now

17:00 Email Fatigue and the Need for Relationships

18:10 The Gateway Solution: Professional Company Outreach

18:45 The Real Formula: Multiple Ideas and Smart Selection

19:22 Closing: 27 Years of inventRight Education

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inventRight, LLC. is not a law firm and does not provide legal, patent, trademark, or copyright advice. Please exercise caution when evaluating any information. No endorsements are issued by inventRight, LLC., expressed or implied. All trademarks are registered trademarks of their respective companies.

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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.

Learn exactly how to license your invention from start to finish.

In this video, I walk you through my complete process for taking an idea to market and licensing it to companies in exchange for royalties. You'll discover:

✓ How to validate your idea before spending money

✓ Why you shouldn't file a patent first

✓ How to research the marketplace and find competitors

✓ When and how to file a provisional patent application

✓ How to build a prototype (or skip it entirely)

✓ Why design for the market matters

✓ How to create a target company list

✓ The biggest challenge: getting companies to actually listen

✓ Why relationships matter more than ever

✓ How Gateway helps inventors reach decision-makers

I've been licensing ideas for over 50 years, and this process has never changed. The key is doing your homework upfront, understanding why your idea hasn't been done before, and then getting it in front of the right companies.

Most inventors spend thousands on patents and prototypes, then can't get companies to even look at their ideas. That's where most people fail. This video shows you how to avoid that trap.

*Chapters*

0:00 Introduction: My Invention Licensing Process

0:40 Step 1: Choose an Industry and Find a Problem

1:52 Step 2: Research if Your Idea is New

2:45 Step 3: Ask Why It Hasn't Been Done Before

3:43 Step 4: Do Your Homework (Don't File Patents Yet)

5:01 Step 5: Build a Prototype or Skip It

5:35 Step 6: File a Provisional Patent Application

6:28 Step 7: Design for the Market and Cost

7:07 Step 8: Create Your Target Company List

10:14 The Hard Part: Getting Companies to Listen

12:47 Why Email and Outreach Don't Work Anymore

14:59 Introducing Gateway: Our Solution

16:02 How Gateway Vets and Pitches Ideas

18:25 Why You Need Professional Help

19:22 The Real Cost of Doing It Alone

20:48 Wrapping Up: The Feeling of Success

22:19 Subscribe and Learn More

Subscribe to inventRightTV for real-world examples of turning invention ideas into products, finding manufacturers, product development, and bringing new products to market.

Have a product you want to license? inventRight Gateway helps prepare your product for licensing, identify the right companies, present it to decision-makers, and manage the follow-up.

*Learn more about Gateway and submit your product:* https://inventright.com/gateway

Subscribe to inventRightTV for more *licensed product examples* and practical advice about *product licensing and licensing inventions.*

⭐ *inventRight Reviews:* https://inventright.com/success/

🏆 *Products licensed with inventRight help:* https://inventright.com/products/

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 inventRight, LLC. does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites.

Turning an idea into a product can get expensive quickly, especially if you spend money on the wrong things at the wrong time.

In this video, inventRight cofounders Stephen Key and Andrew Krauss break down 10 common product development and licensing mistakes they've seen over the years — and what to do instead.

They explain why you should study the marketplace before spending heavily, when patents and prototypes may be premature, how to identify companies that are actually a good fit for your product, why manufacturing costs matter, and what rejection can teach you about your idea.

Whether you're developing your first product or already approaching companies for licensing, these lessons can help you make better decisions about where to spend your time, money, and energy.

You’ll learn:

• Why studying the marketplace should come before spending heavily

• How spending money can create a false sense of progress

• Why you shouldn’t overprotect your idea too early

• When NDAs can create unnecessary obstacles

• Why understanding cost and manufacturability matters

• How to identify companies that are a strong fit for your product

• Why overcomplicating an invention can hurt its chances

• What rejection and company feedback can teach you

• Why working with the right people matters

• How to recognize the difference between persistence and stubbornness

Stephen and Andrew also share examples from their own experience working with inventors and licensing products, including mistakes they’ve seen derail promising ideas and lessons that can help inventors move forward more strategically.

Sign up here to get weekly reminders with the Zoom link so you never miss The Licensing Playbook LIVE: https://inventright.com/licensingplaybooklive

Chapters:

0:08 Welcome & Topic Overview

2:30 Real Success Story: Ceiling Tile Tool

9:08 Mistake #1: Spending Before Validating

12:00 How to Study the Marketplace Correctly

19:20 Using AI to Research Your Idea

22:15 Mistake #2: Over-Investing in Patents & Prototypes

27:10 Mistake #3: Wrong Approach to IP Protection

34:20 Mistake #4: Not Understanding Manufacturing Costs

38:00 Mistake #5: Poor Company-Product Fit

42:00 Mistake #6: Overcomplicating Your Product

43:25 Mistake #7: Not Learning from Rejection

46:00 Mistake #8: Choosing the Wrong Service Providers

48:40 Mistake #9: Not Knowing When to Stop

50:10 Book Recommendation & Mindset

50:15 Q&A: Infringement & Litigation

54:25 Q&A: Supply Chain Economics

58:00 Final Thoughts & Call to Action

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Ready to put the licensing process into action?

LicenseThis gives you inventRight’s complete 10-step licensing system, plus training, scripts, sample sell sheets, licensing agreements, and more — so you can move your product toward a licensing deal at your own pace.

→ Try LicenseThis free for 7 days: https://inventright.com/services/license-this

🎥 Subscribe to inventRightTV for weekly videos on licensing, product development, entrepreneurship, patents, and bringing ideas to market.

For over 27 years, inventRight has helped inventors license inventions.

⭐ inventRight Reviews: https://inventright.com/success/

🏆 Products licensed with inventRight help: https://inventright.com/products/

→ Contact inventRight: https://inventright.com/contact

Disclaimer:

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 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.

Filing a provisional patent application is one thing. Making sure it actually captures your invention in a useful and meaningful way is another.

What should you include? How much detail do you need? What about prior art, drawings, and alternative versions of your invention? And when does it make sense to get professional help?

inventRight cofounders Stephen Key and Andrew Krauss are joined by inventor, patent agent, and QuickPatents founder Kevin Prince to answer these questions and explain how to make a provisional patent application more useful.

This video is sponsored by QuickPatents.

You’ll learn:

• How to identify your invention’s true point of difference

• Why prior art research matters before you file

• How much technical detail to include

• Why variations and workarounds can strengthen your application

• How drawings can help support your disclosure

• Common mistakes inventors make when filing PPAs

• How AI can help — and why you shouldn’t rely on it blindly

• When it may make sense to have a patent practitioner review or prepare your application

Stephen shares lessons from his own experience protecting and licensing products, while Kevin brings the perspective of both an inventor and a patent practitioner who regularly works with provisional patent applications.

A provisional patent application is more than simply getting something on file. What you include matters.

*CHAPTERS*

0:00 What Makes a Provisional Patent Application Valuable?

4:02 What Is a Provisional Patent Application?

6:30 Identifying Your Invention’s Point of Difference

9:03 What Is Prior Art and Why Does It Matter?

12:34 How to Search for Prior Art

18:01 How Much Detail Should a Provisional Patent Include?

24:20 Variations, Workarounds & Competitor Alternatives

31:29 How to Use Drawings in a Provisional Patent Application

36:23 Common Provisional Patent Application Mistakes

40:34 Can You Include Multiple Inventions in One PPA?

45:37 USPTO Changes and Filing Challenges

48:46 Should You File Your Own PPA or Hire a Professional?

50:56 Patent Pending Status and Filing Timelines

1:01:29 Final Advice and Resources

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*This video is sponsored by QuickPatents.*

QuickPatents provides patent searching and patent application services for inventors and entrepreneurs.

*Schedule a free consultation with QuickPatents:* https://quickpatents.com/

Ready to put the licensing process into action?

LicenseThis gives you inventRight’s complete 10-step licensing system, plus training, scripts, sample sell sheets, licensing agreements, and more — so you can move your product toward a licensing deal at your own pace.

→ Try LicenseThis free for 7 days: https://inventright.com/services/license-this

🎥 *Subscribe to inventRightTV for weekly videos on licensing, product development, entrepreneurship, patents, and bringing ideas to market.*

For over 27 years, inventRight has helped inventors license inventions.

⭐ inventRight Reviews: https://inventright.com/success/

🏆 Products licensed with inventRight help: https://inventright.com/products/

→ Contact inventRight: https://inventright.com/contact

*Disclaimer:*

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 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.

Thank you BSense for sponsoring this video. How do you turn an invention into a product you can manufacture and sell? Herschel Adkins did exactly that. After developing and launching Flashback, his patented invention, he established approximately 72 dealers in just six months.

In this interview with Stephen Key, Herschel shares his experience bringing a new product to market — from finding a manufacturer and developing prototypes to working with an overseas company and receiving his first shipment of finished products.

Herschel spoke with more than 15 companies before choosing BSense to help turn his invention into a manufacturable product. He explains what he was looking for, why he needed more than a factory, and what the product development process was actually like.

You'll learn about finding a manufacturing partner, reviewing and refining prototypes, communicating with overseas manufacturers, designing packaging, and preparing a product for production. Herschel also shares how he validated his invention with potential customers before investing in manufacturing and how he's building a business around it.

*About Flashback*

Flashback is a patented, solar-powered audio device that attaches to memorial monuments and preserves people's life stories. Today, the product is available through funeral homes and monument dealers, with additional applications for cremation memorials.

Explore Flashback: https://flashbackmonument.com/

*Product development and manufacturing*

BSense helped Herschel with product design, prototyping, testing, tooling, packaging, and manufacturing.

Website: https://bsense-group.com/

Email: [email protected]

*Chapters*

0:00 Manufacturing an Invention Overseas: Where Do You Start?

0:16 Meet Herschel Adkins and His Patented Invention

0:41 How Flashback Works

2:23 Finding a Manufacturer for Your Invention

3:59 Why He Chose This Product Development Company

4:52 What Does It Take to Manufacture a New Product?

6:15 Finding New Markets for an Invention

8:03 Receiving the First Shipment From an Overseas Manufacturer

8:32 Communicating With an Overseas Manufacturer

9:00 Managing the Risks of Overseas Manufacturing

10:01 Getting a Prototype Made and Refining the Design

10:47 Expanding Into New Products

11:34 Bringing a Product to Market: 72 Dealers in 6 Months

13:30 Validating a Product Idea With Potential Customers

Subscribe to inventRightTV for real-world examples of turning invention ideas into products, finding manufacturers, product development, and bringing new products to market.

Have a product you want to license? inventRight Gateway helps prepare your product for licensing, identify the right companies, present it to decision-makers, and manage the follow-up.

*Learn more about Gateway and submit your product:* https://inventright.com/gateway

Subscribe to inventRightTV for more *licensed product examples* and practical advice about *product licensing and licensing inventions.*

⭐ *inventRight Reviews:* https://inventright.com/success/

🏆 *Products licensed with inventRight help:* https://inventright.com/products/

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 inventRight, LLC. does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites.

How do you know if people will actually buy your product before you invest heavily in launching it?

In this episode of Licensing Playbook LIVE, inventRight cofounders Stephen Key and Andrew Krauss break down what Stephen learned while building Hot Picks, his guitar pick business that eventually made its way into major retailers like Walmart.

Stephen shares how his first designs failed, how he tested new ideas directly with customers, and how real-world feedback helped shape everything from the product itself to its pricing, packaging, manufacturing, and sales strategy.

You’ll learn:

• Why you shouldn’t assume customers will want your product

• Simple ways to test demand before investing heavily

• Why competition can actually be a good sign

• How to think about pricing and profitability from the beginning

• Why your sales channel should fit your product

• What Stephen learned selling through music stores, convenience stores, and major retailers

• Why creating demand can be one of the hardest parts of launching a product

• How listening to the market can help you make better decisions as both an inventor and entrepreneur

Whether you plan to venture your product yourself or pursue licensing, the lesson is the same: Before spending significant time and money, find out whether the market actually wants what you’re creating.

Sign up here to get weekly reminders with the Zoom link so you never miss The Licensing Playbook LIVE: https://inventright.com/licensingplaybooklive

Chapters:

0:00 Introduction: Testing Demand Before Launch

1:12 Stephen's Hot Pix Journey: From Idea to Walmart

5:48 The Reality of Venturing vs. Licensing

9:00 How to Know If Your Product Will Really Sell

11:45 First Design Failure: Learning from the Market

14:03 Testing Designs with Real Customers

15:02 Finding Your Point of Difference

17:01 The Path to Walmart: Building Through 1,000 Other Stores

18:55 Why Competition Is Actually Good News

20:02 Sales vs. Profit: Understanding Real Numbers

24:46 Pricing Strategy: Work Backward from Retail

27:05 Packaging Iteration & Design Evolution

29:27 Manufacturing Strategy & Quality Control

31:41 Scaling with Licensed Brands: Disney, Taylor Swift, More

34:08 Distribution Channels: Retail vs. Online Economics

36:01 Consignment Strategy & Building Retailer Relationships

37:02 Testing Methods: Surveys, Retailers, Pre-Sales

38:01 The Hardest Part: Creating Demand

39:35 MySpace Marketing Strategy: Building a Community

42:14 The Time Commitment & Team Requirements

44:02 Cash Flow Reality: The Walmart Float Game

46:34 Confidence Gained from Venturing Experience

47:26 Knowing Your Customer & Market Position

50:01 Product Life Cycles & Staying Fresh

51:38 What Buyers Really Purchase: Marketing, Not Just the Widget

52:22 Meeting Taylor Swift & Licensing Deals

54:00 The Importance of Mindset & Overcoming Obstacles

55:01 Gateway Program Overview & Contact Information

56:01 Q&A: Licensing vs. Venturing, Manufacturing Decisions

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Ready to put the licensing process into action?

LicenseThis gives you inventRight’s complete 10-step licensing system, plus training, scripts, sample sell sheets, licensing agreements, and more — so you can move your product toward a licensing deal at your own pace.

→ Try LicenseThis free for 7 days: https://inventright.com/services/license-this

🎥 Subscribe to inventRightTV for weekly videos on licensing, product development, entrepreneurship, patents, and bringing ideas to market.

For over 27 years, inventRight has helped inventors license inventions.

⭐ inventRight Reviews: https://inventright.com/success/

🏆 Products licensed with inventRight help: https://inventright.com/products/

→ Contact inventRight: https://inventright.com/contact

Disclaimer:

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 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.

How do you turn a simple invention into a product licensing deal?

Jerald Gunter started with a *$5 prototype* designed to solve a problem he had encountered for years: Installing and replacing ceiling tiles in commercial buildings required expensive lifts, scaffolding, and extra labor.

Today, Jerald’s invention is being used by *AMC Theatres nationwide,* and he has secured a *7-year licensing agreement with Grabber Construction Products* to manufacture and distribute his product.

In this interview with inventRight cofounder Stephen Key, Jerald shares how he went from identifying a real-world problem and building an inexpensive prototype to patenting his invention, *approaching a company, and negotiating a product licensing agreement.*

You’ll learn how Jerald tested his invention in the real world, what he showed the company to get its attention, why the licensing process took nearly a year after the initial contact, and why he ultimately chose *licensing instead of manufacturing and selling the product himself.*

Jerald also explains how patent agent *Kevin Prince, founder of QuickPatents,* helped him protect his invention. Jerald has two design patents and a utility patent covering the center mechanism of the tool.

Jerald says what he learned from Stephen Key’s bestselling book, *One Simple Idea,* helped him navigate the licensing process.

*This video is sponsored by QuickPatents.*

QuickPatents provides patent searching and patent application services for inventors and entrepreneurs.

*Schedule a free consultation with patent agent Kevin Prince:* https://quickpatents.com/

*CHAPTERS*

0:00 How a $5 Prototype Led to a Licensing Deal

0:47 How Do You Know If Your Invention Solves a Real Problem?

1:20 Does an Invention Prototype Need to Be Expensive?

3:48 What Should You Show a Company You Want to License Your Product To?

4:15 How Long Does It Take to Get a Licensing Deal?

5:58 When Should You Get Help Protecting Your Invention?

6:52 Should You Worry About Companies Stealing Your Invention Idea?

10:55 Should You License Your Product or Manufacture It Yourself?

11:39 How Do You Learn How to License an Invention? | One Simple Idea

For more than 27 years, inventRight has helped inventors and entrepreneurs bring products to market, primarily through licensing.

Subscribe to inventRightTV for more *product licensing success stories* and practical advice about *how to license an invention, prototype a product, approach companies, protect an invention, and bring a new product to market.*

⭐ *inventRight Reviews:* https://inventright.com/success/

🏆 *Products licensed with inventRight help:* https://inventright.com/products/

*DISCLAIMER*

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 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.

When you’re licensing a product, the order you do things matters.

You don’t need to spend thousands of dollars building an entire business before you know whether companies are interested in your idea. Your first job is to communicate why your product matters, identify companies that are a strong fit, and give them enough information to want to learn more.

In this video, inventRight cofounders Stephen Key and Andrew Krauss break down the right sequence for licensing a product — so you can test interest, learn from companies, and make smarter decisions about where to spend your money.

You’ll learn:

• How to communicate your product's benefit in one sentence

• What you actually need on a sell sheet

• When to spend money on prototypes and patents

• How a provisional patent application can give you flexibility

• How to identify companies that are a strong fit for your idea

• Why persistent follow-up matters

• How to learn from rejection without wasting more money

Licensing is a process, and doing things out of sequence can cost you time and money. The goal is to spend wisely, learn quickly, and give yourself more opportunities to get your ideas in front of companies.

Sign up here to get weekly reminders with the Zoom link so you never miss The Licensing Playbook LIVE: https://inventright.com/licensingplaybooklive

Chapters:

0:00 Introduction to the Licensing Playbook

1:29 Tonight's Topic: What You Don't Need to License

2:08 What Companies Actually Need to See

3:40 The Cost of Bad Advice: A $25,000 Mistake

5:01 Patents: Timing Is Everything

6:00 Why Websites Don't Work for Licensing

10:01 The One-Page Sell Sheet vs. Website

12:30 Prototypes: When You Really Need Them

14:01 Virtual Prototypes and ChatGPT

19:38 The Power of a One-Sentence Benefit Statement

22:26 Do You Need a Patent to License?

28:32 Why 'No' Is Your Friend

30:08 Knowledge Is Your Competitive Advantage

36:14 Common Mistakes That Turn Off Companies

39:39 A Real Success Story: Getting a Deal

41:18 What Actually Gets Ideas Licensed

44:46 Patience, Persistence, and Being a Polite Pest

48:20 The Right Mindset for Success

50:05 It's a Numbers Game

51:00 Build Relationships, Not Just Transactions

52:13 Final Thoughts and Book Promotion

------------------------------------------------------------------------------

Ready to put the licensing process into action?

LicenseThis gives you inventRight’s complete 10-step licensing system, plus training, scripts, sample sell sheets, licensing agreements, and more — so you can move your product toward a licensing deal at your own pace.

→ Try LicenseThis free for 7 days: https://inventright.com/services/license-this

🎥 Subscribe to inventRightTV for weekly videos on licensing, product development, entrepreneurship, patents, and bringing ideas to market.

For over 27 years, inventRight has helped inventors license inventions.

⭐ inventRight Reviews: https://inventright.com/success/

🏆 Products licensed with inventRight help: https://inventright.com/products/

→ Contact inventRight: https://inventright.com/contact

Disclaimer:

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 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.

How do you go from licensing your first invention to licensing products with multiple companies?

Robert has now *licensed four products to four different companies.* In this interview with inventRight cofounders Stephen Key and Andrew Krauss, he shares what changes once you’ve negotiated multiple licensing agreements, built relationships with companies, and learned how to keep bringing them new inventions for product licensing.

Robert is a former inventRight member who has successfully licensed products in the HVAC industry. He shares several *licensed product examples* from his own portfolio and explains how he submits new inventions to companies he already has relationships with, negotiates stronger licensing terms, and decides which industries to pursue next.

Years ago, he spent *$12,000 trying to bring an invention to market* and got nowhere. Learning how to license an invention gave him a completely different way to commercialize his ideas. Today, he’s working toward making licensing inventions his full-time career.

You’ll also hear Robert discuss *royalties and licensing agreements,* why he asks companies to have “skin in the game,” how existing relationships can make it easier to submit additional invention ideas, and why he is considering selling intellectual property outright in one unusual situation.

Check out the Jumper King on Amazon: https://a.co/d/06gvYQTh

If you’re interested in *product licensing, licensing inventions, submitting invention ideas to companies, negotiating licensing agreements, or turning an invention into a product without building an entire business around it,* Robert’s experience offers a look at what the process can become after you’ve done it more than once.

*CHAPTERS*

0:00 Product Licensing: How Robert Licensed Multiple Inventions

0:24 Can You Build a Career Licensing Inventions?

2:27 Licensed Product Examples: 4 Products on the Market

4:15 What Is It Like to Manage Multiple Licensing Agreements?

5:03 How Do You Submit More Invention Ideas to a Company?

6:05 Should You License Inventions in More Than One Industry?

7:56 How Robert Lost $12,000 Before Learning Product Licensing

9:18 What Can You Negotiate in a Product Licensing Agreement?

10:01 Why License Consumer Products to Retail Companies?

11:31 What Does It Feel Like to See Your Invention in Stores?

13:24 Getting Your Product in Front of Companies | inventRight Gateway

14:21 Product Licensing vs. Manufacturing: Should You Sell It Yourself?

15:06 How Do You Enter a New Product Industry?

17:22 How Do You Find Companies to License Your Invention To?

18:23 Why Relationships Matter When Licensing Products

19:01 How Many Product Industries Should You Pursue?

20:18 When Does It Make Sense to Sell Your Intellectual Property?

23:37 From inventRight Student to Licensing Multiple Inventions

25:41 How AI Can Help You Submit an Invention to a Company Faster

For more than 27 years, inventRight has helped inventors and entrepreneurs bring products to market, primarily through licensing.

If you have a product you want to license, inventRight Gateway helps prepare your product for licensing, identify the right companies, present it to decision-makers, and manage the follow-up.

*Learn more about Gateway and submit your product:* https://inventright.com/gateway

Subscribe to inventRightTV for more licensed product examples and practical advice about product licensing and licensing inventions.

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🏆 *Products licensed with inventRight help:* https://inventright.com/products/

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 inventRight, LLC. does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites.

AI is changing how new products are developed. Knowing where it helps and where it falls short is important.

In this interview, Stephen Key sits down with Guillaume Chéneau, founder of BSense, to discuss how AI is actually being used in product development and manufacturing today.

AI can help you clarify an idea, develop better specifications, research technical questions, evaluate materials, conduct market research, communicate across teams, and keep complicated projects organized.

But it still has limits!

A beautiful AI-generated product design isn't necessarily manufacturable. Engineers still need to understand tooling, materials, assembly, prototypes, factories, and design for manufacturing (DFM). Guillaume explains why understanding that distinction can save product developers time and money — and why using more AI tools isn't always better.

*This video is sponsored by BSense.*

BSense helps inventors and companies develop and manufacture new products, with a team based in China that works directly with factories throughout the development and manufacturing process.

*Contact BSense:*

https://bsense-group.com/

*CHAPTERS*

0:00 Why AI Matters for Product Development

0:17 Meet Guillaume Chéneau, Founder of BSense

1:29 AI and Confidentiality: Should You Be Concerned?

3:18 Where You Store and Share Information Matters

3:46 The Competitive Advantage of Using AI

5:01 How AI Saves Time on Technical Questions

6:00 AI for Communication and Translation

7:28 How AI Helps Inventors Develop Their Ideas

8:46 From Napkin Sketch to Detailed Specifications

9:50 What Should You Ask AI About Your Product?

11:55 Do Engineers Still Matter?

13:18 Why AI Can't Replace Engineers

14:26 Should You Disclose That You Used AI?

15:40 Using AI to Make Development Decisions

17:02 AI for Marketing and Market Research

18:35 AI-Powered vs. Traditional Product Development

19:00 AI for Product Development Project Tracking

21:03 How AI Can Support Product Licensing

22:04 Using AI to Identify Market Needs

23:16 Why Product Developers Need to Understand AI

24:48 The Dark Side of AI: Tool Overload

25:10 How to Choose the Right AI Tools

26:30 Beautiful Designs vs. Production Reality

28:00 Why Prototypes Are Still Necessary

30:06 Design for Manufacturing (DFM): Where AI Falls Short

31:28 AI-Generated Designs vs. Manufacturable Products

32:00 Learn AI, But Stay Strategic

Have a product you’d rather license than manufacture yourself? inventRight Gateway helps inventors and entrepreneurs prepare their products for licensing, identify the right companies, present them to decision-makers, and manage the follow-up.

→ Learn more about Gateway and submit your product:

https://inventright.com/gateway

*About inventRight*

inventRight has been helping inventors and entrepreneurs bring products to market, primarily through licensing, for more than 27 years.

Subscribe to inventRightTV for new interviews, licensing education, product development insights, and real-world stories from inventors and entrepreneurs.

⭐ *inventRight Reviews:* https://inventright.com/success/

🏆 *Products licensed with inventRight help:* https://inventright.com/products/

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 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.