How to get your invention Idea Sold (10 simple steps)

Have a product idea and no clue how to get it into the hands of a big company? In this video, Andrew Krauss from inventRight walks you through the 10 essential steps to license your invention and earn royalties — without needing a patent or a fancy prototype. These are the same 10 steps used in the bestselling book One Simple Idea, in inventRight’s coaching programs, and in their Gateway service (where they do it for you). Whether you're a first-time inventor or looking to streamline your licensing approach, this roadmap is your launchpad.

Have a product that companies should know about? Not sure what to do next to license or increase sales of your product?

Apply to inventRight's Gateway Program — we are experts in licensing and have built connections with more than 800 companies looking for ideas.

Move forward with confidence: https://inventright.com/gateway/
Call: +1 (650) 793-1477
Email: support@inventright.com

00:00 – Intro: How to Get Your Idea Licensed
00:37 – Step 1: Study the Marketplace
03:37 – Step 2: Invent for the Marketplace
04:56 – Step 3: Evaluate Your Idea
07:08 – Step 4: Prototyping (Physical, Virtual & Cannibalized)
11:25 – Step 5: Your One-Sentence Benefit Statement
14:26 – Step 6: Create Your Marketing Materials (Sell Sheet & Video)
18:41 – Step 7: Protect Your Idea (Smart Patent Strategy)
23:25 – Step 8: Reach Out to Potential Licensees
27:58 – Step 9: Negotiating a Licensing Agreement
32:41 – Step 10: Move On to Your Next Idea (Timing Is Everything)
35:49 – How to Learn More & Next Steps

Have an invention idea? Turn it into a product and get it into stores and selling online — we show you how on inventRightTV. Whether you're trying to pitch an idea, make a prototype, get a patent, build a business, or land a licensing deal, you're in the right place. What you need to know to sell an idea and get paid. (Featuring real-life stories from entrepreneurs like you.)

Learn what to do when you have an invention idea, including how to:

— Pitch your invention ideas to companies who will license them
— Protect your idea with a provisional patent application (PPA)
— Create a simple prototype (even if you're not an engineer)
— License your product and earn royalties (also known as passive income)
— Avoid costly mistakes, scams, copycats, and getting ripped off along the way

We've helped thousands of inventors license their invention ideas, see their products on the market here: https://inventright.com/members-success/

Hosted by inventRight founders Stephen Key and Andrew Krauss. Most inventors and most products fail. Beat the odds and become a successful inventor!

Subscribe to go from idea to product.

We are experts in licensing products. Set up a free consultation with inventRight: https://inventright.com/contact/

Hire inventRight to contact companies for you: https://inventright.com/gateway/
Hire inventRight to guide you to a licensing deal: https://inventright.com/coaching/
Get a prototype: https://inventright.com/prototype/
Get strong, affordable protection for your idea: https://inventright.com/patents/

Call +1 (650) 793-1477
Email support@inventright.com

New to product licensing?

Read Stephen Key’s book “One Simple Idea”: https://amzn.to/4fwVVOT
Free Inventor Resources: https://bit.ly/3AaGko2

About Stephen Key Award-winning inventor with 20+ patents and products sold worldwide. Co-founder of inventRight, bestselling author, and speaker on licensing and IP strategies.

About Andrew Krauss Licensing expert with 25+ years of experience. Co-founder of inventRight and former president of one of the nation’s top inventor associations. Speaker at USPTO events and innovation advocate.

About inventRightTV The #1 YouTube channel for people who want to turn an idea into a product with 86K+ subscribers and nearly 1M monthly impressions.

For sponsorships, email: madeleine@inventright.com

Disclaimer: inventRight is not a law firm. For legal, patent, or trademark advice, consult a professional.