📌 What You’ll Learn:
- What licensing is and how it works
- The biggest advantages and trade-offs
- How to know if licensing is right for you
- Brian’s top tips for getting companies interested
- Why preparation is everything in licensing
🎧 Listen to more episodes: https://InventionPlaybook.com
👤 Work with Brian: https://BrianFried.com
📱 Join our community: https://InventorSmart.com
Subscribe to The Inventor Coach Podcast for new episodes, tips, and stories to help inventors succeed. Join the community → InventionPlaybook.com
Episode Transcript
Hey, it's Brian Freed, your inventor coach. One of the
biggest decisions you'll make as an inventor is whether to
license your invention to earn royalties or bring it to
market yourself. Licensing can be a powerful path, but it's
not right for everyone. Today, I'm going to break down
how licensing works, why it might be the smartest move
(00:37):
you ever make, and how to know if it's the
right path for you. Let's dive in. So what does
it mean to license your invention? Licensing is when you
give another company, usually with similar products in the same
category or industry, the rights to manufacture, market, and sell
your product, and you get paid royalties, usually a percentage
(00:58):
of the wholesale price of every sale. It's a way
to turn your idea into income without building a business yourself,
and the biggest advantage is simplicity. If you don't want
to deal with manufacturing, inventory, marketing, or customer service, licensing
lets you skip all that. You focus on creating the idea.
(01:19):
That's you the license or, and the company known as
the licensee does the heavy lifting. But licensing isn't for everyone.
If you want more control over your product, your brand,
or the business itself, you might prefer to launch it
on your own. Licensing means letting go of some of
that control in exchange for less risk and more free
(01:41):
time for yourself. Here's something I always tell inventors. Companies
license products most of the time that are ready to go.
That means your invention should be protected ideally with a
filed or issued patent, have some proven sales or market feedback,
and be presented clearly with a one page cell sheet
(02:01):
or a short video. The easier make it for them
to say yes, the better your chances. And if you
remember one thing from this episode, remember this. The right
path depends on your goals. Do you want to build
a business or build ideas? Be honest about what you
want and the answers become clear. Showcase the true origin
(02:24):
of your innovation. It was invented right here in the USA.
With official certification marks from USA invented dot Com, you
can proudly highlight that your idea, design, or invention was
thought of on American soil. These marks let your customers
know your product carries the spirit of American ingenuity and creativity,
(02:45):
not just where it's made, but where it was born.
Whether you have a patent, a prototype, or a concept.
The USA Invented certification helps elevate your brand and connect
you with a community that celebrates American born in a
apply online, get verified, and proudly display your certification on packaging,
(03:07):
marketing materials, and your website. Celebrate your American invention. Visit
Usainvented dot com and get certified today because your invention
deserves to be recognized for where it was truly born.
If you found this helpful, subscribe to the Inventor Coach
podcast and leave a review. And if you're thinking about
(03:29):
licensing your invention, visit Invention Playbook dot com. We've got
free tools and resources to help you prepare and make
smarter inventing decisions. Licensing can turn a great idea into
a steady income stream without the stress of building a business.
Until next time, Inventor Coach out
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