Before you can make money from an invention, you must find a company that loves your idea AND is in the right industry to get your idea to market.
Once you find a company that is interested, how do you make money from your idea?
The first hurdle you will encounter is finding companies willing to take or listen to outside ideas. Many larger corporations have strict channels and
policies regarding idea submissions and still other refuse to listen altogether. You may have few options to choose from between narrow minded executives and the size of your
particular industry.
When you find a suitable company, there are two main ways to profit from an idea: Sell your invention outright, or receive royalty payments from the manufacturer.
When you sell outright, what you sell are your rights to the invention. Presumably, these would be the rights you have under a United States patent or a pending patent application.
Your second option involves entering into a licensing agreement with a company. They pay you a royalty each time they sell a product that they manufacture and that is based upon your
idea.
For more information on licensing agreements, check out our in depth articles: Invention Licensing Agreements.
In both scenarios the major hurdle is finding a company with enough interest to produce your invention. This is where we can help! We connect inventors with marketing firms and manufacturers that
specialize in bringing new products to market.
Fill out the form to the left to receive free information on how we can help bring your product to market. We will also send you a free inventor's kit that will help whether you choose to work with us or not.
This free kit will be mailed to you immediately via U.S. mail and is packed with all of the crucial documents you need to get your invention off the ground, such as an invention testimonial form for documenting the date of conception of your idea and non-disclosure and confidentiality forms.
