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How to License Your Ideas For New Products Using a Simple Sell Sheet
Stephen, thank you for your valuable tips and insights! I recently filed my first PPA (provisional patent app) and have reached out to a local business about bringing my idea to market. After an initial phone call, I sent an email to the company and was put in touch with a product manager. I contacted the product manager via email and requested an in-person meeting to "pitch" my idea. (I fabricated a very crude prototype that I was planning to use to demonstrate the key functionality.)
Hi Mr. Key, Just reading and using your awesome book as my instruction guide. I have just completed the sell sheet and need feedback as to the addition of a video. My product is so simple I don't want to give it all away and reveal to much in the video. From you experience can I avoid the video and possibly prepare a presentation packet instead? I really wish your company had a service that would critique our work instead of committing to your entire course! Thank you for any feed back, Jeff Hutt
Hi Jeff. Absolutely you don't have to make a video. Videos are great for many ideas, but they're not essential for all of them, especially if your concept is as simple as you say. I get wary when I hear 'packet' though. Make sure to hook them with your sell sheet before throwing more at them — like you said, it's good to hold things back so you can give keep doing a give and take. Good luck! I hear what you're saying... but the course is really the only way we've found that actually helps people. And that's what I'm most invested in. Stephen
Stephen,
Hi Drew. If you file a provisional patent application, which you can most likely do for $65, you are able to describe your invention as "patent pending" for the ensuing 12 months. In my experience getting a patent is easy enough; it's the selling of and bringing an idea to market that is much more difficult. IP strategies differ for different ideas, though. If it's for the medical industry, you may need more than a single patent to truly establish your ownership. In my experience obtaining a patent can easily cost upwards of $15,000. Hope this helps. Stephen
Super-great phenomenal advice! Yes!
Thank you!