5 Things To Avoid When Signing A Licensing Agreement

Congratulations you finally got your licensing agreement. Now, be very careful to read it thoroughly because there’s going to be things in there that you need to watch out for. Please watch this video!
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Hi, this is Stephen Key and Andrew Krauss. We are here to help you make money from your ideas. We started our company inventRight over two decades ago to teach people how to license (aka rent) their ideas to companies in exchange for royalties.
This process is called “product licensing.”
On our channel, we show you exactly how you to take an idea and license it to companies in exchange for passive income.
Today, you do not have to start a business to make money from an idea.
With product licensing, you don’t have to write a business plan, raise money, manufacture, market, sell, or distribute any longer.
Visit our website inventRight.com for more information.
If you have a product idea and need some help, please contact us at:
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Learn how to start a business, how to become an entrepreneur, how to protect intellectual property, how to patent an invention, how to stop people from stealing your ideas, how to prototype an idea, how to contact companies looking for ideas, how to design a product, how to make a sell sheet, how to make a promo video, how to negotiate a licensing agreement, how to get a higher royalty rate, how to do market research, and how to work with inventRight.
Stephen Key and Andrew Krauss are the cofounders of inventRight, a coaching program for entrepreneurs that has helped people from more than 65 countries license their ideas for new products. They are also the cofounders of Inventors Groups of America, an organization that hosts a free, popular monthly educational meeting for inventors online. They have more than 20 years of experience guiding people to become successful entrepreneurs.
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[@justinmosley8638]

1. Require a minimum guarantee.
2. If they dont hit their minimum guaranteed amount, ensure the license agreement can become non-exclusive.
3. Soften the Indemnification Clause as needed to prevent harm to your idea.
4. Net Sales must be clearly defined and appropriate. If not clearly defined, consider a flat fee structure per item sold.
5. Grant of License should be expanded so you're paid in perpetuity.

[@PatentYourInventions]

Great notes. Thank you so much, Justin!

[@cesarruizamador3120]

Flat fee per item? It would be great to know more about this particular topic.
Thank you Stephen.

[@GardnerFences]

I’ve tried reaching out several times over the last 30 days. Great content though. Hope my meeting tomorrow goes well.

[@meoshiajones9596]

Hi. I would love to see a video from you about if you could license to more than one company & if so how it works.

[@johnjosephfontaine2712]

Net Not Gross,Got it ✅

[@nameerlatef2079]

Thank you this information

[@inventRight]

Thank you for watching!

[@donnabeattiedreamerbydesign]

Thank you Stephen 😊

[@Scott-YouTubeAddict]

Best kind of information - thank you 👌😊🇦🇺

[@inventRight]

Thank you so much, Scott for watching and commenting. Please subscribe if you haven’t already.

[@Scott-YouTubeAddict]

@@inventRight I subscribed years ago 😊

[@inventRight]

Thank you so much, Scott!

[@nickypoland]

been subscribed for years :D

[@inventRight]

Thank you so much!

[@bevc33]

Great advice-access to this kind of "insider information" is huge. Thanks, Stephen! About price - I heard someone use "FOB" instead of "net". Is that a good or more reliable alternative? (I wondered if there might be some hidden pitfalls using FOB.)

[@PatentYourInventions]

Great question. Having your royalty come off the manufacturing price in my opinion is not a great option.

[@janesmith9628]

@@PatentYourInventions Thanks, Stephen. I'd never heard of that idea before. Glad I asked you!

[@Kiamememememememe]

I have a great idea.

[@user-xg8zt1uf6d]

Do you know if marc portney would be interested in a marketing strategy for his quick survival product?

[@PatentYourInventions]

I think you would have to ask him.

[@jrockwing]

Whew help this guy hit 100k

[@inventRight]

We’re going to need a little help! Things are going slow! Thanks for watching,commenting and subscribing!

[@MikeG-fp8mt]

Great video but you spelled "licensing" wrong.

[@inventRight]

Thanks. Fixed

[@MikeG-fp8mt]

@@inventRight You're welcome

[@Dan0rioN]

@@inventRight Appreciate the info... What I'm looking to do is sell my product & it's trademark/name/logo (Whole concept) to a retailer for an immediate deposit to my bank account... I do not want to subject myself for tossing & turning all night until I hear back... This is the product idea of a the century.. Revolutionary.. I know it's not on the market or it would be seen everywhere.. Concept is easily grasped.. Practically sells itself yet I've still got my pitch down... But I have questions & concerns about what paperwork I need for protection... Is there anything wrong with constructing my own NDA & License agreement contracts??

[@inventRight]

You’re going after the wrong customer retailers do not purchase.

[@steventeter3332]

How about licensing on another continent or in other countries. The World Cup is coming to the NorthAmerican continent.

[@inventRight]

Thank you for watching and commenting!
Product licensing as worldwide.

[@steventeter3332]

Product licensing is worldwide?

[@Kiamememememememe]

I want to win.

[@inventRight]

Please subscribe if you haven’t already!
Thanks for watching!