While you do not need to limit yourself to local companies, they do offer advantages. Most venture capital investors wont sign an NDA unless its absolutely necessary. Mr. Key will explain why inventors and entrepreneurs need to consider intellectual property from a business perspective and how to do so, which is the theme of his latest bookSell Your Ideas With or Without a Patent. You might have said, "..but I don't know what to do, or how to go about it." Sell Your Ideas with Or Without a Patent Stephen Key, Janice Kimball Key , 2015 - BUSINESS & ECONOMICS - 166 pages 0 Reviews Reviews aren't verified, but Google checks for and removes. Search for your book and save it on your Kindle device, PC, phones or tablets. 7 Core Patent Concepts, Drafting the Patent Application and FAQs during patent process are explained. And a follow-up study of more than 130 managers across industries showed that insecure managers gave workers who spoke up evaluations that were 21% more negativeand implemented their ideas 14% less frequentlythan managers who felt more comfortable in their roles did. However, depending on how you document it before sharing it with a company, your idea/invention may be protectable under copyright laws, intellectual property laws, patent laws, and/or trademark laws. This will not guarantee that they will not squash you, but it will help., Inventor Nickolas Passig also chimed in to share: All big businesses are in the game of taking other peoples' ideas and profiting from them. This would have e received 5 stars if it wasn't so in convenient having to navigate without the chapter titles. To calculate the overall star rating and percentage breakdown by star, we dont use a simple average. NOT IP is a great idea but I'm assuming you want to just sell them an idea. That means you really believe in your idea, you are familiar with all the right protective laws, and youre ready to get a pitch together. Back in the day, I remember having ideas, but there were very few things out there to help you with the steps you need to take to make it a reality. Some managers will be more unapproachable and unresponsive than others, but research shows that the majority are more open to ideas and suggestions than you might imagineprovided they are approached effectively. In one of the studies, we analyzed more than 850 ideas submitted by 350 employees in a hospital system in the Midwest. In general, the patent protection granted by a patent lasts for a certain period of time. 2015 Stephen Key Media, LLC (P)2017 Stephen Key Media, LLC, Get a licensing contract with or without intellectual property, Write a provisional patent application that stops others from stealing your idea, Find and hire a killer patent attorney (they are not all created equal! Theyve all been there, done that and are weighing in on this topic as a means of assisting other entrepreneurs navigating the murky waters of what is an isnt worth the effort of pursuance. The amount of up-front payment varies. The Spinformation rotating label has been licensed on products the world over, is protected by 20 U.S. and international patents, and has received more than 13 industry awards. It also details Stephens experience defending his patents in Federal Courta David versus Goliath saga he has never before written about at lengthas well as provides tips about how to avoid a licensing contract from going bad. Most ideas are just that - a passing thought. Language: English Many of the products Stephen Key has licensed required no intellectual property protection whatsoever, yet have made millions in royalties. Our community flooded in responses with their first-hand insight on how to pitch an idea to a company. Who has the decision rights? While the priority filing date is a crucial component of any patent application, a provisional patent application does not include all of the details necessary for a successful patent application. I read this book, and did a lot of highlighting on the Kindle version. A study by Sofya Isaakyan of the Rotterdam School of Management and colleagues showed that managers felt 30% less threatened when employees spoke to them one-on-one than when the suggestions were made in front of other employees. After reading One Simple Idea, it was only a matter of time before I bought this one, which wasnt very long before I did, lol. This book will teach you how to: Get a licensing contract with or without intellectual property. Your recently viewed items and featured recommendations, Get a licensing contract with or without intellectual property, Write a provisional patent application that stops others from stealing your idea, Find and hire a killer patent attorney (they are not all created equal! For anyone taking their idea to market Stephen Keys latest book Sell you Ideas With or Without a Patent is a must read. The protection provided by a nondisclosure agreement can be vital for both parties. [PDF] Sell Your Ideas With or Without A Patent - ebookee.com Then they worry that the big company will simply take their idea, and leave them in the dust. We are an educational and consulting company for inventors. Sure, but let's use a specific example that's close to home as we're all entrepreneurs here: Entrepreneurs in Residence. Download full books in PDF and EPUB format. Indeed, a study led by David Mayer showed that in values-driven organizations, employees who talked about company values when advocating for an idea were 24% more successful than those who didnt. Stephen Key - This book will change your life, if you let it. Good starting point for overall patent application process. Your managers manager? The most valuable piece of info I gained from this book is how to go searching for patents myself. Also, the more information you can gather about regulatory issues or necessary legal steps, the better. This book will give you some more motivation, and help you understand how to make your ideas a reality. The Beginning Lesson 2 Create products that sell or you won't eat! When selling an idea to a company that doesnt yet have a patent, you might think about filing a provisional patent application. But, if you have an idea you are fully confident in pitching to a company, make sure you take all the necessary steps to protect that idea before sharing it anywhere. Here are some of them. then this book. We coach and mentor so that you can license your idea to a company. The book "One Simple Idea", written by Stephen Key, was published in 2012. The closer your invention matches a company's already existing product line (as long as it isn't directly competing), the more sense it probably makes for them to take it on--especially if it gives them a product that competes with a rival company. What do youreallyneed to sell your ideas, then? But even in those cases, there is very little downside to protecting their egos and neutralizing their insecurities. It's doing something with it that makes it valuable. You can check your reasoning as you tackle a problem using our interactive . Is it worth devoting time, energy, and political capital to? Before selling an idea to a company, you should consider the nondisclosure agreement (NDA) clause. In sum, there are a number of ways to sell your ideas without a patent, including through online marketplaces. Despite abundant research on the value of bottom-up innovation and problem-solving, many workers still feel stifled in giving their bosses feedback or making suggestions. Therefore, I believe that annual minimums are most important in the initial years of the agreement--when the product is being launched--to ensure that the licensee adequately prioritizes this item when deploying sales resources. You can also consult an IP professional for advice. We recommend consulting a patent attorney with any questions regarding this process. There are also certain types of information that are excluded. But Key also knows what it takes to protect a big idea. Highly recommend. Sell Your Ideas With or Without A Patent by Stephen Key Amazing Guide and Read. If you have an idea you want to patent and market, read this book. Sell Your Ideas With or Without a Patent - Audible.com Think you need a patent? This book is a very useful blueprint for getting your ideas to market. Finally, try to frame your suggestions in a way that links them to the companys stated goals. Most manufacturers will want to have exclusive rights to distribute the product globally. ), Save thousands of dollars on legal expenses, File patents that have true value, Negotiate a win-win agreement. However, it is still possible to argue that a confidential agreement was insinuated if: The company prompted the idea from you meaning the information was sent in response to a request. Focus groups can also help you find investors for your fledgling business. After you have gathered all the relevant information, you will need to present it to potential licensors. You wouldn't be reading this article right now. Laser Tag? He has become my go-to guru for everything having to do with licensing. top of page. You can test your idea through focus groups. Yes, EIR's are getting paid to work on ideas. The main cost of drafting the application is reduced, as the disclosure requirements for a provisional patent application are not as strict as those for a non-provisional application. Youll want to address all three areas of concern in your pitch. This is a more formal way to protect your work and ensure it gets out there, but its not mandatory. Yes, you can sell an idea to a company without a patent. Need to re-read this holiday season again. Im glad I made the purchase, and would recommend this book to anyone that is interested in inventing. The book provided me the right level of detail to move step by step through the process of licensing and getting my idea protected and to market. Of course, some leaders are able to absorb feedback and ideas without feeling criticized or threatened. However, if you do not have a patent, there are other ways to secure your intellectual property. As with any type of sales, the more prospects, the better. I went back time and time again to reread these parts, as they were key points that really helped me when writing my provisional patent. In studies of a large hospital ER, a commercial real estate firm, and a defense contracting company, we found that managers typically evaluated an employee-generated idea by considering three questions: What financial and human resources will be required to implement it? Provisional patents are very important, especially if your idea could become a marketable product. Before we dive into the details of how to sell an idea to an existing company, allow us to share various perspectives on the value of an idea alone from multiple Founders within our community. Cool? 260 global ratings. Sell Your Ideas With Or Without A Patent written by Stephen Key and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with BUSINESS & ECONOMICS categories. Please use caution when evaluating any information, including but not limited to: business opportunities; links to news stories; links to services, products or other web sites. You will also exponentially increase the value you get from it should that happen.. You might even consider asking a well-positioned coworker to present your idea for you. Great narrator, plus, I learned a lot of new things about the legal system of the patent world. Putting yourself in your managers shoes will also make you more likely to identify the instances when he or she cant help. We would encourage you to become familiar with each of those types of laws in your state of residence and move forward with the proper steps to protect your information prior to sharing your ideas or inventions with anyone.