Step one to licensing a product is finding potential manufacturers that could be interested in becoming licensees. Inventors should identify a minimum of a dozen manufacturers which they would be thinking about working together with to barter licenses for their products. Some companies that guide inventors through this process suggest that inventors identify up to one hundred possible licensees. While identifying so many potential licensees will probably be time-consuming, there are a lot of excellent helpful information on inventors. Some resources on potential manufacturers include Harris Info Online, Industry Search, and Thomas Register of American Manufacturers. Once you've identified potential manufacturers, you have to review the list and decide which manufacturers you would like to assist probably the most. These manufacturers will get transferred to the top your list. Once you've the makers ranked in this way, you will need to contact every person manufacturer and get the contact info you need to send your marketing information.
The next step with the product licensing InventHelp process is preparing and submitting your ads. Your ads will consist of an advertising and marketing letter and may also add a brochure or copies of one's professionally rendered patent drawings. Once you write your marketing letter, you should concentrate on the top features of your product and how adding your invention towards the company's list of products would benefit the company. You won't want to incorporate a large amount of personal detail about yourself or about how you invented the product. Before sending these ads out, you might like to have each company sign a nondisclosure agreement. This assists protect your intellectual property rights should a business make an effort to produce and distribute your design his or her own. After you have submitted your ads, you might not hear anything for a few weeks. It could take some companies nearly per month to open and read your marketing letter. You might like to contact each company in four or five weeks if you haven't gotten any response.
Once you have submitted your ads and gotten one or more responses, you have to negotiate the terms of the license. As there are various kinds of licensing agreements, plus you've got the possibility to make a costly mistake, you should use the assistance of an attorney during any licensing negotiation. A legal professional should be able to assist you in getting most advantages of licensing your products to one or even more manufacturers by allowing you to negotiate licensing fees, royalties, along with other regards to each licensing agreement.