Tip of the Week: Tip #24 of 25

Tip 24 – Tip Recap!
Blog By Kristen Ayres

Over the past few months in our ongoing series “25 Tips on Inventing” we have covered many topics regarding invention development, patenting, marketing and royalty negotiations. In this 24th tip we’ll review tips 13-23 before wrapping up next week with Tip 25, it’s a don’t miss tip.

Tips 13 through 23:

• Tip 13: Utilize Available Resources – Discusses the importance of utilizing currently available and often free resources and information.

• Tip 14: Establish a Goal – Anthony Robbins said, “Setting goals is the first step in turning the invisible into the visible.”

• Tip 15: Moving Forward with your Invention – A discussion on the first steps to take once you’ve decided to patent and market your invention.

• Tip 16: Patent Process – A brief explanation of the patent process and the need to become familiar with it before pursuing a patent.

• Tip 17: Do you need a patent? There’s a good chance you do. – Discuss the types of patents, their importance to independent inventors, and hiring patent professionals.

• Tip 18: Get Your Ducks in a Row – Discuss the importance of and type of market research needed to substantiate the marketability of your invention to potential licensing companies.

• Tip 19: Build It and They Will Come – Why prototyping is important, different types of prototypes and what to do if your goal is to license your invention.

• Tip 20: Marketing your Invention – Marketing is at the heart of invention success!

• Tip 21: It’s a Contact Sport – Making manufacturers and other licensing entities aware of your product creates an opportunity for invention success.

• Tip 22: One on the Hook – Specifically discusses what to do when interested companies initially responds to your proposals.

• Tip 23 Licensing Agreement Negotiations – A brief overview of the negotiations process and a few key points to be aware of when negotiating.

We hope you enjoyed Tip 24. We’d love to hear your comments, and please consider sharing this information as it may benefit an inventor you know. If you have questions don’t hesitate to contact us.

Next week’s tip, Tip 25, will provide the best advice and recommendation we could possibly give to independent inventors.

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