Sell Sheets & Prototypes of Stephen Key's Inventions
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- เผยแพร่เมื่อ 7 ก.ค. 2024
- Stephen Key invented and licensed many ideas during his career as an independent inventor. In this video, he peels back the curtain to reveal what his sell sheets and prototypes looked like, including some that resulted in products in the market.
inventRight is a one-on-one coaching program that has helped people from more than 40 countries license their ideas for new products. It was founded by Andrew Krauss and Stephen Key in 2001. Visit 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: 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: amzn.to/1T1dOU2.
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I'm nervous to bring to light an idea I've been sitting on but ur videos are creating a clearer path...I'll keep watching ur videos as I push my idea from my head to my hands thank you...
Hey Steve, your hair is looking great! I can tell you did something new with it and this is coming from a professional Cosmetologist lol! Thank you so much for your coaching. i just ordered ''One Simple Idea'' and can't wait to very soon becoming the true product developer that I feel I am, Great work!
Fascinating. Fascinating. Fascinating. The ask for sharing. This kind of detail really helps to visualise how licensing works.
Thank you! ! This was really fun to watch! All your ideas are really great! And your drawings and mock ups are awesome!
Stephen Marcus Key, you sir, are a gentleman & a scholar! Fantastic examples of building a rapport with a company to be able to generate ideas through a minimum effort, maximum results driven workstream. My favorite part was how the feedback was given for each idea using the numbers. Brilliant!
Here, you proved that licensing isn't so much about making prototypes and getting patents. It's about "selling" (in our case, "renting") the product concept...idea is king.
Really digging the deep dive content - keep them coming!
Thanks Sef!!!
Stephen, you have a true winner's personality. Your down to earth and easy to understand. I now have the " I CAN DO THIS " in my pocket now! I will be contacting you!
Thank you for sharing Stephen, i love it !
This is exactly the video I need. This shows how simple this field of work can but. Just pair the simple idea with hard work and you've got profit.
Glad you found it helpful. Keep inventing! - Stephen Key, inventRight Co-Founder ( Call, email, book an appointment or request more info about how we can help by visiting us here. inventright.com/contact/ )
Your creativity and talented sketches amaze me. Explains why you are so great in the industry.
Would be nice to see some other inventions and sell sheets from your team.
Good idea. Thank you!
wow! very ineresting and knowledgeble! Thank you Stephen and inventright team!
This was an awesome video. I learn more from visual aids...awesome examples.
Thank you for watching and sharing Jose!
Thanks for sharing. Very proud. Sometimes the packaging costs more than the product.
Congratulations on your channel Stephen, It´s really good advice. Subscribed!
Awesome video. Very enlightening and equally as inspiring. Thanks
Thank you, love you guys and gals🇺🇸
Prototypes out of paper thats funny how easy it can be. Thank you! My wallet to let out a breath of relief.
I just got quotes for prototyping of a VERY SIMPLE product and the quote was $4,500 for just the CAD illustrations and consulting time. To get a whole prototype was roughly $10,000. I'll just work on some nice looking sell sheets and touch up the handmade prototype at home. : )
Giveaway alert: We're picking three winners to receive a package from our Design Studio, which includes a digitally rendered virtual prototype and a one-page sell sheet! Ends 7/6/18.
Enter to win! www.inventright.com/sell-sheet-giveaway
Another great video, thankyou
I've gotten so much inspiration from your videos. I now have the 2 largest companies in the industry looking at my prototypes and designs. BIG THANKS TO ALL OF YOU!
Nice!!! If you need help you know where to find us - we love helping our students make sure they get the best deal possible. Thank you for sharing with us.
Did you ask them to sign an NDA before you submitted your sell sheet?
Great job doing this video. Thank you for letting us see your personal works of art even before they become works of art. How inspiring. Keep the videos coming. Thanks again for sharing Steve.
U are really such a motivation
Thank you
Love this.
Thank you Richard!
Stephen, wonderful video. Thank you for sharing your experiences with licensing your ideas. Did you file PPA's for all of the candy, toy, and other ideas that you showed and submitted to these companies?
Amazing! Did you get a provisional patent for each of those ideas?
this was a great video
Glad you enjoyed it
Candy idea; #5 Fankenstein was the mad scientist haha good stuff man.
Thank you for watching Nolan!
Thanks
Well, you answered half my question without me even asking. I was going to ask "What should I do if I have so many ideas, I can't possibly do anything with all of them?"
Yes
Thank you for your tips and suggestions Stephen. Is there anywhere that you would recommend a person to submit an idea even when you do not have a patent, trademark, or a copyright?
Wonderful video and knowledge. Question: for example with the spinning cup, did you get a PPA before shopping around for licensing agreements?
To protect a 'big' idea - which a packaging idea inherently is, given the scale - you will need a wall of intellectual property, including patents, to protect it. Stephen ended up getting more than 20 patents to protect this innovation. Thank you for watching.
Just received a patent... curious about how you made your patent plaques
Hey Stephen, Good stuff! If I go to Walmart and cobble together a 'Frankenstein' prototype - is it bad form to attempt to license to a company that you used one of their components in the prototype?
Great info!! So those are sell sheets? Are they really that basic?
I'm reading your book, One Simple Idea (Revised and Expanded Edition), and it is a GREAT book so far! As far as Sell Sheets go, do I need to send a NDA to a graphic designer I hire to create my sell sheet?
Sean, great questions! Please contact our office, we'd be happy to help guide you: www.inventright.com/contact
"Stephen Marcus" did/do you use a pseudonym for your IP? Have you done a video on this subject? How do you recommend setting up the legal entity for ones inventions/IP? tyvm
You make it seem so easy. If only it were that easy we would all be successful inventors! Lol
Hi Gabrielle. For the most part bringing any product to market is not easy! But it doesn't have to be complicated. Have you read Stephen's book "One Simple Idea?" He breaks down each step in a way that is easy to understand. Thank you for watching.
inventRightTV I haven't read it yet but I'm gonna purchase it from Amazon.
If/when you go to submit your ideas to a variety of possible companies, what protects you and prevents them from just pretending that they are not interested, but then just steal your idea and claim it as their own?
I understand that, as you stated, you already had established working relationship with some companies; but, if you’re a nobody inventor just starting out, what incentive would there be for a company to pay you for your idea? Couldn’t they also try to tweak/alter it just enough to circumvent a patent (if you even have one)?
are they all patents in the background
Did u get patents on your new concepts?
When you did the football folder, did you have to get permission to put the “SF” on it? When do you have to pay a company a commission to use one of their characters on something? I only ask because years ago, my mom made Raggedy Anne dolls and in order to get the pattern copied to the size she wanted to use, she had to get written permission and pay a commission every time she sold a Raggedy Anne doll.
did you get all your ideas patent pending before you sent them to company's?
hi Stephen, nice ideas! Can you license these ideas to companies without patents? Can't they just copy it without a design or utility patent?
Most of these ideas should be classified as designs not bond fide inventions that adults can use . Even though I cant say I have had an invention make it yet. that is probably because the first one is always the hardest one ro succeed ,most inventors would agree,especially if you are someone with very limited funding and business connections. Also the things I work on are usually things that will make things people do much easier, for all kinds of different problems, some are probably even life saving or health improving at least, almost always time saving. Since my ideas take a great deal of time to think about ,since they usually have many aspects to them that need thinking about creatively ,including having that interaction with potential customers to see what they think about it, and how I would use their criticisms to change it somewhat if needed , or continue to argue its benefits . This all requires a great deal of time and effort, so to just say we should submit as many ideas we can,when they take months at least to even know if we want to proceed is just kind of ridiculous to me. I cant just multiply the number of things like this I am working on by some number like 5 times as many . Where would I get that kind of time, plus that would mean doing a poorer more incomplete job of the ones I was working on already . It might be easy if you are doing doodling and stuff as a way to come up with "ideas" , but that is a totally different thing, one which I hope I never lower myself to. Unless I become someone who cares more about making money, than the actual quality of my inventions. I should also point out that living in a world where stuff like this is so popular including all the Disney stuff too,which many people are fanatical about ,without having an idea or care what the company is about, its no wonder so many of these people dont care about new ideas that really could help them, they are probably old and set in their ways whatever stage they are in life, and wouldnt change the way they do things unless maybe everyone else starts doing it, then maybe they might start to think its ok ! In the meantime, they would much rather see shit like this, that they can give to their kids to make them happy for a few minutes ,hours at the most.
Do you submitt the ideas to companies before you apply for a provisional patent and then apply for one if the company is interested? Is that what you are saying? Or were you sending all these paper ideas to companies only after you had already applied for a provisional patent?
The novelty gift industry is somewhat unique in its long history of working with inventors and not caring too much about intellectual property. The ideas Stephen submitted in that industry were not protected by even a provisional patent application. This is true in some cases in the toy industry as well, where Stephen also got his start. Because filing a PPA costs just $70 (if you are an individual) and helps you establish perceived ownership, we are big fans. The safest path is to file a PPA first, then contact companies. However, you may have a lot of ideas and just want to test the waters from time to time. There are no hard and fast rules here. Think strategically! Thank you for watching.
Hi Stephen, who did you license the spin cup idea too? It sounded like you said "Gin and Tredo", thanks. BTW amazing work getting it into Disney.
One of the companies Steve mentioned was Trudeau.
So how did you meet this company?
Hey Stephen! Can you take more about other industries. Thanks
Which industries would you like to hear about in particular?
inventRightTV pet, houseware, hotel industry , thanks!
I have a ton of great ideas i'd like to try and license but i'm anxious about companies taking my idea instead of making an agreement with me. I know that i can patent my ideas but if i don't have to make a real prototype or know how exactly the idea will work (the process), how can i claim things in the patent that will protect the idea if I dont know them myself ? A huge fan here!! thanks for your great work
TzTok Jad You should visit Inventright.com they have a coaching program that teaches you everything you need to know. It’s worth the money!
Hi TzTok. A few notes:
You do not need a patent to license an idea. You can file an inexpensive provisional patent application: www.forbes.com/sites/stephenkey/2018/01/08/dont-file-that-patent-yet-file-a-provisional-patent-application-first/#65662b557fe0
All of our strategies are geared towards selling, not just getting a patent.
There are many ways of protecting yourself, including first and foremost by approaching inventor-friendly companies. You need to be smart and educate yourself. Don't let your fear take over.
We strongly recommend reading Stephen's book "One Simple Idea" - it describes the 10 steps you should take, in great detail, to license an idea without a patent or works-like looks-like prototype: www.amazon.com/One-Simple-Idea-Revised-Expanded/dp/1259589676
Thank you very much for watching! You can do this.
Thank you very much for sharing Talia! Please contact us to learn more about our coaching program: www.inventright.com/contact
I am a little confused, can you send over a simply drawing or should it be the sell sheet right off the bat?
Our free ebook "Getting In" includes how to reach potential licensees, what to say, and why your sell sheet is such a great tool. Find it here: www.inventright.com/getting-in
How did you go about building a relationship with the companies before your sent your ideas? Also did you protect your idea from being stolen?
Do you homework on anyone you think you would like a relationship with. It’s your best protection.
When you license out idea will the patent be under your name ? And if so does that allow you to sell product yourself? Is there a statue on the licensing with a company?
It all depends on how you negotiate your agreement.
What the best way to get a sell sheet I have a prototype for a safety vest please help
Humbly, we suggest checking out our own Design Studio: www.inventright.com/what-we-offer/dspublic
You can also find designers on websites like Upworks and Fiverr.
Hey Steve... Learning a lot from your videos, but I hope your book title is more accurate because all I've got is one simple idea...
Simple ideas are the easiest to license! Thanks for watching and reading.
How does the marketing part work as far as creating a Sell Sheet?
Sean, great questions! Please contact our office, we'd be happy to help guide you: www.inventright.com/contact
Question ?? How can I use animation or pictures from marvel, or Disney on my products. Do I have to pay them for using their image or picture to sale.? In your case I saw a Mickey Mouse. I would really appreciate your answer thank you.
You just need to become a Freemason, then they will let you do practically whatever you want . Though one day you may have to pay in a big way,but if you dont believe in God then dont worry about it ! th-cam.com/video/mMTVOWid9SE/w-d-xo.html
Is it possible to licence clothing apparel? If yes, say to the likes of nike? I won't think so?
What kind of patent would one even be looking at there?
Thanks
Licensing apparel is difficult. People in the fashion industry complain that their signature lines of clothing are knocked off within weeks. Establishing perceived ownership over apparel is extremely difficult at best. And given the length of time that designs are in the marketplace, most forms of protection would be a waste of your time, anyway. Trademarks have value. If your design has some kind of utility, you could try filing a provisional patent application on that. More industries that are difficult to license to: www.inc.com/stephen-key/want-to-license-an-idea-avoid-these-5-industries.html
Good branding would perhaps be more important for apparel than a patent.
When you're new to this & submit lists of ideas to companies how do you know they won't take it? Thanks
Hi Zack. Not sure what you mean. We teach a specific way of reaching out to companies about your ideas. Our free ebook "Getting In" describes in-depth what to do and what to say: inventright.com/getting-in
@@inventRight Just an fyi, there send to be a problem with that link, unless it is just my browser..
Hi have a great idea I thought of this morning and I would like for you no charge to put it out there
Execution is everything when it comes to ideas! Why don't you want to bring your great idea to market yourself?
inventRightTV Resources but watching more of your videos now I’m feeling more confident
I would like to know how you made money from your ideas. Did all your ideas have a PPA? Did you have them sign a NDA first? How did you get them to sign a contract for the license? First, to get into the door you have to describe your invention before hand and they can just copy it without giving you any credit. So, it is so tricky. You have many ideas and most people may have only one great idea and can't risk being copied. How do you protect yourself from being ripped off?
Schedule a call with our program manager to help direct you in the right path! meetme.so/inventRightEli
Stephen describes how much money he made from licensing in this video: th-cam.com/video/gxeuCPaGeHY/w-d-xo.html
Protection is important. We have created many, many videos and articles on this topic. 99% of our students sign a licensing agreement with just a provisional patent application. More here: www.inc.com/stephen-key/how-to-license-an-idea-without-a-patent.html
More resources:
www.entrepreneur.com/article/324629
www.forbes.com/sites/stephenkey/2018/01/31/considering-crowdfunding-16-ways-you-can-fight-back-against-copycats/
www.inc.com/stephen-key/30-ways-to-protect-your-product-ideas.html
2:19 "Sauser" ...was that on purpose?
Can I please share my idea with you and you tell me what you think are you get it started and give me half
We do not partner with inventors or share in any of their royalties. Learn more: www.inventright.com/
Stephen, can you help me with a prototype for a crowdfunding campaign?
What kind of prototype are you looking for? inventright.com/invention-prototype/
I’m sure teachers loved you.
🇨🇦🐢❤️
Puzzle lids. Great idea until a kid chokes on one of the pieces.
I get the run around getting no where my idea is unique and educational 😞
I am worried that the dates are 20 years ago. Things have changed.
Actually, they haven't changed that much. Check out our testimonials page. Many, many people have licensed their inventions using Stephen's 10-step process: inventright.com/new-testimonials
There are new tools to assist you, absolutely.
So how did you not worry about companies not paying you for ideas they run with that you just wrote a description with? Just NDAs? I'm like you, always having a million ideas lol
You say you used to do this. Does that mean you're retired and teach it now?
Yes. Stephen invented and licensed his ideas for two decades. Watch him describe how much money he made: th-cam.com/video/gxeuCPaGeHY/w-d-xo.html
These days his primary role is as the cofounder of inventRight, his coaching program: www.inventright.com/
How were you protected sending all these ideas out to toy Manufacturers? Couldnt they have just stole the ideas that they liked?