Learn how to
Create and Manufacture your own Product
Watch the Video
below to see how successful you can be with your new product idea!
When you create your
own product, you have to make some very important decisions. How
will you make money from it? Should you license it to a third
party, or manufacuture the product yourself? This will affect how
much financing you need to continue.
Please Note
***If you have a unique product/idea that is not
currently on the market, you need to apply for a Provisional Patent.
If your product is patented, you are the legal owner of the
idea/product. If anyone else tries to to profit from your
idea/product you can sue them in court and be awarded any profits that
they have made from your idea/profit. You can start the
application process by
Clicking Here to get a Provisional
Patent Application Kit
Option #1 -
Inventor-for-Royalties
You can license or assign the rights
of your invention for cash. This is much easier than manufacturing
and selling your invention.
Licensing - This is
a simple agreement where you let someone else use or develop your
invention for a certain period of time. In exchane, you receive
money(either a one time payment or continuing payments which are
called Royalties). This is an attractive option because the
licensee assumes all of the risks of manufacturing, marketing, and
patent infringements. This allows you to sit by the mailbox
and wait for your royalty checks.
To be successful Licensing your
product, you need to:
Find the right people to
review your great idea
Get the money to develop
and protect your invention
Present the invention to
possible licensee's in a marketable manner.
Assigning - You can
also assign all rights to your invention for cash. This is a
permanent transfer of ownership rights, so you will no longer have
any rights to the invention. You may receive a lump sum or royalty
payments over a period of time.
*Royalties can range from 2% to 10% of the net revenues.
Option #2 - Manufacture the
product yourself
Manufacturing the product yourself is
harder, but the profits can be much larger. You also have much
more control over the product.
*Some recent studies show that almost
half of the inventors who manufactured their own invention were
successful.
Differences in Financing
Licensing usually requires much less
capital than the manufacturing and marketing the product yourself.
Your decision is will probably be influenced by your product. The
more complex the product is, the harder it will be for you to
manufacture it yourself, so licensing might be better.
If you license the product, you will
need money for:
Creating the prototype
Marketing the product to possible
licensees.
If you manufacture the product
yourself, you will need money for:
Creating a prototype
Creating Tooling or Molds
Mass Producing the product
Finding Distribution
Collecting Payments
Enforcing Patent Rights
Many people patent a product or idea and never do
anything with it. This could be your chance to purchase it, make
it, market it, and make a killing!
BUSINESS
PHONE/FAX/TOLL FREE #'S - To
find the best deals for a business phone, business fax, toll free
#'s, calling cards, or cell phone plans, click here:
Best deals on Business Phone Services
or
Call Now: 866-943-6425
to speak to a representative at AccessLine to discuss your options
and prices.
SHIRTS -
To get shirts or uniforms made
for your new business, Click Here
MARKETING
SUPPLIES - To find all of
the tools you need to market your business,
Click Here
LOGO FOR
YOUR BUSINESS - To compare
prices on getting a professional logo made for your business,
Click Here.
EQUIPMENT,
SUPPLIES, & SERVICES - To
find equipment and supplies for your business,
Click Here.
You can write and sell your own book online
and make some very big profits. Simply sign up with
Clickbank, and they will market your book through their affiliate
program.CLICK HERE
to get started
