Most inventors imagine an invention prototype as a physical object. A hand-built model. A 3D-printed shell with working parts inside. That picture is out of date. The first invention prototype most licensing-track inventors should build is not a physical object at...
Most inventors hear “market your invention” and picture Facebook ads, influencer posts, and retail launch budgets. For an inventor planning to license the product to a manufacturer instead of self-manufacturing, almost none of that matters. The audience...
The U.S. tool industry generates roughly $35 billion in retail sales each year, and the major brands file or license thousands of new utility patents each year. If you have a tool invention, a hand tool, a power tool accessory, a garage organizer, a workshop fixture,...
Patent license money flows through several distinct streams: a possible advance at signing, ongoing royalty payments tied to sales, milestone bonuses if the deal includes them, and minimum guarantee floors. Independent inventors who chase a big upfront fee often walk...
A typical patent license agreement runs 25 to 60 pages. The terms that matter most to the inventor sit in about ten clauses, and the cost of getting one of those clauses wrong can run into six figures over the life of the deal. If you have a patent and a licensee at...
Most patent owners who try to license their invention never close a deal. Industry royalty rates vary by category, contracts vary by how the deal is structured, and the wrong terms can leave an inventor watching someone else sell the product without seeing meaningful...
