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Category Archives: Intellectual Property

Looking for Sponsor Company to Develop a Product Idea

By | Channels and Alliances, Coming Up with an Idea, Financing a Startup, Intellectual Property, Organization & Strategy, Selling Your Idea or Invention | No Comments
Q: I have an idea for a product that doesn" />

Q: I have an idea for a product that doesn’t exist yet based upon my internet research. It has been on my mind for some time and I keep shrugging it off but feel that God may be putting it on my mind for a reason. I would like to know of a Christian company that will work with me to create this product and possible help market it. I am very skeptical about being taken advantage of by the wrong people/company. Can you recommend someone that will help me with this? A: It is possible to get the type of sponsorship you sketch out, but…

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How to Determine When to License Your Idea to Another Company

By | Business By The Book, Channels and Alliances, Intellectual Property, Planning, Selling Your Idea or Invention | No Comments

Q: I am a design engineer that has created what I believe to be a revolutionary design, but I know very little about patenting the design, raising venture capital, building production capacity and ramping up a company. What advice would you offer someone like me? A: It is hard to give good advice on so little information, but here are a couple of thoughts: If you are a great design engineer and your skills are all focused on design, then you should consider staying in your sweet spot and just be a design company that creates great designs.  You can then license…

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How to Make the Most of an Idea Without Any Money

By | Business By The Book, Channels and Alliances, Intellectual Property, Marketing, Planning, Selling Your Idea or Invention | No Comments

Q: I have a patent pending on a new type of commercial resistance exercise machine. Here’s the problem: I don’t have the money to get a prototype built. I know what I have here, but I have no money to pay for anything. My desire is to start a small manufacturing company after the product has been tested in fitness centers. I could simply sell the rights to this for royalties, but starting a small manufacturing company (and surrounding myself with a lot of people who are experienced in the field, including management) is what I want to do as I…

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Eight Ways to Prepare for a License and Royalty Agreement Negotiation

By | Business By The Book, Channels and Alliances, Intellectual Property, Legal Issues, Negotiations, Planning, Selling Your Idea or Invention | No Comments

Q: I am about to enter into a licensing/royalty negotiation with a company that is interested in taking my idea to market. I’ve read your Q&A post on Taking an Invention to Market and How to Negotiate a License and Royalty Agreement and they were very helpful, but I am looking for more specifics on how I should prepare for and approach the negotiation? A: The key is to do your homework. Here are a few specifics: Research – First of all, do your research on the potential value of your product or idea by looking at other deals that have been done in your industry with…

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How to Take an Invention to Market

By | Business By The Book, Channels and Alliances, Intellectual Property, Organization & Strategy, Selling Your Idea or Invention | No Comments

Q: I am a 48-year old man with no business experience in terms of starting a company, raising capital, or running a company, but I’ve invented a product that I feel would be very useful for every bathroom in the U.S. and I believe it would be a huge hit. Any recommendations on what I should do next? A: First of all, I would not recommend trying to start up a company to produce one product. “One-hit wonders” rarely make a company, regardless of how good the product is. The inefficiency of building a company and manufacturing capacity around one product that…

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