Attorney Vincent LoTempio, alongside Andrew Lees of Stoke Ventures, discusses strategies for transforming protected inventions into profitable businesses. The episode explores how to evaluate the viability of an idea, navigate the challenges of licensing agreements, avoid predatory product development firms, and build a business through market research and strategic development, providing inventors with actionable steps to achieve commercial success.
Key Timestamps00:00 - Show Introduction and Welcome
01:30 - Evaluating the Viability of Invention Ideas
05:00 - Challenges of Licensing Inventions
09:00 - Risks of Predatory Product Development Firms
13:00 - Building a Business Around an Invention
17:00 - Importance of Market Research for Inventors
21:00 - Role of Licensing Agreements in Monetization
25:00 - Strategies for Successful Product Development
29:00 - Key Advice for Monetizing Inventions
33:00 - Conclusion and Call to Action
About the ShowGuardians of Innovation is a podcast dedicated to empowering inventors with practical intellectual property and business-building advice. Featuring registered patent attorney Vincent LoTempio, the show delivers clear insights to help entrepreneurs protect their ideas and turn them into successful ventures, navigating the complexities of patent law and product development with confidence.
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