How to License Your Product Ideas Without a Patent

In this video, inventRight cofounders Stephen Key and Andrew Krauss tackle the misconception that inventors need a patent to license their ideas.

Stephen Key explains that companies are increasingly embracing open innovation, meaning they seek external ideas, and many licensed products do not have patents.

This video discusses the importance of speed to market, as many products have a short lifecycle, making it impractical to wait years for a patent to be issued. Stephen Key emphasizes the value of a provisional patent application (PPA), which provides "perceived ownership" at a low cost while allowing inventors to gauge company interest without hefty upfront costs.

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

00:08 – Introduction: Licensing Without a Patent
00:42 – Why You Don’t Need to Own a Patent
01:37 – Open Innovation: Companies Want Your Ideas
02:40 – Speed to Market -Patent Protection
04:04 – Real Examples of Students Licensing Without Patents
04:34 – Big Ideas vs. Small Ideas
05:03 – The Power of Perceived Ownership
05:33 – What a PPA Is & Why It Works
06:31 – Why Attorneys Hate “Perceived Ownership”
07:36 – The Gray Area Where Deals Are Made
09:15 – First-to-Market Advantage
10:19 – Structuring Licensing Deals (3-Tier Royalty Model)
11:53 – You Can Always File Later
12:19 – Most Licensing Deals Don’t Involve a Patent
12:41 – How to Write a PPA That Has Value
13:08 – Wrap-Up & Resources

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.

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