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    How to License or Sell Your Ideas; 7 Steps to License for Recurring Royalties or Sell for a Lump Sum
    How to License or Sell Your Ideas; 7 Steps to License for Recurring Royalties or Sell for a Lump Sum
    How to License or Sell Your Ideas; 7 Steps to License for Recurring Royalties or Sell for a Lump Sum
    Ebook70 pages1 hour

    How to License or Sell Your Ideas; 7 Steps to License for Recurring Royalties or Sell for a Lump Sum

    By Matthew Yubas

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    About this ebook

    Learn how to make money by licensing or selling your ideas to companies.
    This guidebook takes you through a 7-Step process to license or sell your ideas. Based on 24 years of experience, the easy to read guidebook takes you through the important step-by-step procedures to sell your ideas for a payout or license for royalties.
    You’ll discover:
    * The Process - The 7 step process to selling or licensing for royalties and advances.
    * Where To Look - How to find companies, and how to approach them so you don't get rejected.
    * Making Contact - How to contact companies, getting the right person on the phone, what to say, and not to say (includes a phone script).
    * Company Interest - What to do when a company is interested.
    * Negotiating a Deal - The process to negotiate a deal and create a win-win outcome.
    * Royalties - Learn how much royalties you can earn, possible advances, and getting companies to pay for patents.
    * Agents and Consultants (Product Scouts) - How to work with Agents, what they expect, and where to find them.
    * And much more.

    LanguageEnglish
    PublisherMatthew Yubas
    Release dateMar 20, 2011
    ISBN9780972552196
    How to License or Sell Your Ideas; 7 Steps to License for Recurring Royalties or Sell for a Lump Sum
    Author

    Matthew Yubas

    Matthew Yubas is a Certified Professional Marketing Consultant for the Small Business Development and International Trade Center. He has developed products for 24 years as an Engineer, Product Manager, and Consultant for startups, small business, and Fortune 500 companies. He has helped clients in a diverse number of industries that include photography equipment, auto accessories, soy candles, children's clothing, sporting goods, digital art, software applications, wireless devices, and home décor. Matthew is the author of several articles, kits, and books including "Product Idea to Product Success" which has been used by inventors, entrepreneurs, colleges, government agencies, and sold into 14 countries. He has been featured on television and radio and has been tapped for his expertise in bringing products to market in many syndicated publications. Matthew earned a B.S. in Engineering from Pennsylvania Spring Garden College in Philadelphia, and an M.B.A. In Management and Marketing from San Diego State University.

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    Book preview

    How to License or Sell Your Ideas; 7 Steps to License for Recurring Royalties or Sell for a Lump Sum - Matthew Yubas

    How to License or Sell Your Ideas

    Matthew Yubas

    Published by Broadword Publishing

    166 London Court

    Cardiff, NJ 08234

    www.broadword.com

    Copyright Matthew Yubas

    Author Website: www.ProductCoach.com

    Smashwords Edition

    No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without permission in writing from the publisher.

    This publication is designed to provide accurate and authoritative information with regard to the subject matter covered. It is sold with the understanding that the author and publisher are not engaged in rendering legal, accounting, or other professional service.

    This product is not a substitute for legal advice.

    About the Author

    Matthew Yubas is a Certified Professional Marketing Consultant for the Small Business Development and International Trade Center. He has developed and marketed products for over 24 years as an engineer, product manager, and independent consultant for startups, small business, and Fortune 500 companies.

    He has launched new products such as software applications, wireless devices, and websites. In addition, he has helped clients in a diverse number of industries that include photography equipment, auto accessories, soy candles, children's clothing, sporting goods, digital art, and home décor.

    As an entrepreneur, he was a co-founder of a software company that developed one of the first personal information management software products. Matthew earned a B.S. in Engineering from Pennsylvania Spring Garden College in Philadelphia, and an M.B.A. in Management from San Diego State University.

    He is a professional member of the Inventors Forum, Licensing Executives Society, and Product Development & Management Association.

    Welcome

    I’m excited for you! You have a great idea that you want to sell or license. In this material, we’ll cover a wealth of information that has taken me years to discover through training, trial, and error.

    No matter what your product is, these principals apply. Please follow the step-by-step instructions and you’ll be far ahead of the game to make your invention a winner.

    Best Success,

    Matthew Yubas

    Chapter 1: What is Licensing and Selling Ideas

    What is selling or licensing as it relates to inventions? Licensing is giving a company permission to manufacture, distribute, and sell a product based on your idea. In exchange, you’ll receive payments known as royalties. You are the licensor and the company is the licensee.

    For example, let’s suppose I came up with an idea for a new toy. I searched on the internet and found no direct competition. Then I did a basic patent search (www.google.com/patents) and found no similar patents.

    I evaluated the product idea and see that it offers a number of benefits to the end-user. I made a list of parts and looked up the costs in a parts catalog. I used competitor retail prices as my selling price. Then, I estimated expenses and calculated a profit potential. Since the profit potential looked reasonable, I continued with my evaluations.

    Next, I surveyed people about how well my product idea provided entertainment. More than 80% of the fifty people I showed it to, liked the entertainment value and innovation. I built a rough prototype and showed it to another fifty people. Again, more than 80% of the people liked it and offered suggestions.

    I created a product proposal document that outlines the need in the market, benefits, competitive advantages, and profit potential. Since I had no interest in running a toy business, I searched the Internet for reputable companies that manufacture and sell toys.

    I let them

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