ALWAYS Be Ready To Say Yes!

As early as possible, know what you want in a deal for your invention and be prepared for someone to make an offer.

Over time what you want will vary. It's not important to be consistent. What matters is being ready.

When an offer comes it's often a one time thing. If you aren't ready you may lose the only or best chance you'll ever get. What should you want in a deal? That depends on your alternatives. You need to be realistic about this. A good deal is one that's better than your alternatives.

You may think your invention idea is worth millions. But if you aren't prepared to launch it on your own and prove that point (and consider the time/effort/risk), then it's only worth what someone will pay you.

If you want a cash buyout, that number will likely be 1/1000th of what you think is fair.

On the other hand, a royalty deal means you share the risk and the rewards. If a product is successful, a royalty deal will be far better payoff.What's a fair royalty? That depends on profit, protection, level of development and required investment. Royalties typically range from 1% to 5% of net sales (sales after returns).

If you're ready to say YES, you can submit your invention for free licensing consideration here.

-Mike