#How to get an app idea patented how to#
#How to get an app idea patented verification#
#How to get an app idea patented license#

They ask for large up front fees and make it to hard for the manufacturer to say yes to the deal. Here’s another tip: Don’t front load the deal. After all, you are partnering with them and they’ve spent big money on setting up their facilities to manufacture your new product. Most of the time you want to give the manufacturer a chance to perform. It isn’t usually necessary to call in the minimum guarantee clause.

#How to get an app idea patented license#

Otherwise, you get your idea back and you can license your idea to another manufacturer. A minimum guarantee clause basically says the manufacturer needs to perform and sell a specified number of units every quarter or every year. I’ve seen it happen.Įnsure you have a “Minimum Guarantee” clause in the contract. Without a performance clause, the manufacturer could just sit on the idea and do nothing with it. You need a performance clause in the licensing contract. It’s very important to make sure the manufacturer performs. Minimum Guarantees – So here’s why I use the term “renting” when describing licensing your idea to a manufacturer.

#How to get an app idea patented how to#

Here’s one tip on how to make sure you get paid a certain amount four times a year. You can have total flexibility with your work schedule. I might pitch three ideas one month and no ideas for the next two months. Using licensing, I can spend my time coming up with new product ideas instead of worrying about balance sheets, cash flow, employees and all the other hassles of running a company. It’s an attractive low-risk alternative to manufacturing products and taking them to market yourself. This royalty-generally a percentage of the total wholesale price-is your payment for bringing them a new product idea that they can sell to their customers. Usually quarterly (four times a year), the manufacturer pays you a royalty on every unit they sell. The manufacturer handles the marketing, manufacturing, distribution and basically everything else required to bring the product to market. Licensing is renting your idea to a manufacturer. I think licensing is a bit of mystery to many people. In this interview, we’ll explore how this advisor to American Inventor rents his ideas to Fortune 500 companies.ġ- What exactly is licensing, and why is it a good option for people with ideas but little time or patience? Coupled with refined cold-calling skills, Stephen meets with some of the most influential marketing executives in the world. He specializes is creating simple products or improving upon existing products, often using nothing more than a single-sided drawing or photograph. There are no multi-year product development cycles. It seldom takes him more than three weeks to go from idea to a signed deal.

First, he consistently earns millions of dollars licensing his ideas to companies like Disney, Nestle, and Coca-Cola. Stephen is somewhat famous in inventing circles for two reasons. Two months later, I used a few recommendations of his - shared over the customary gin tonic - to help a friend double overseas sales in less than two weeks in New Zealand and Australia.

#How to get an app idea patented verification#

This number is only used for verification purposes.I first met Stephen Key in 2001. You can change the number later, or change your country or region to a location that doesn't require it. * In China mainland, you might be required to provide a +86 phone number for your Apple ID.

Check your email for a verification email from Apple and verify your email address.Īfter you verify your email address, you can use your Apple ID to sign in to the iTunes Store, App Store, and other Apple services such as iCloud.

This can help to verify your identity and recover your account if needed. You can also choose None. Learn what to do if None isn't showing or you can't select it. You won't be charged until you make a purchase.

Enter your credit card and billing information, then tap Next.

Follow the onscreen steps. The email address that you provide will be your new Apple ID.*.

If you don't see this option, make sure that you're signed out of iCloud.

Open the App Store and tap the sign-in button.