Synopsis
Think you need a patent? Think again. Many of the products Stephen Key has licensed required no intellectual property protection whatsoever, yet have made millions in royalties. But Key also knows what it takes to protect a big idea. Years ago, after reading about how medication bottles rarely contain enough space for the information that needs to be printed on them, he was inspired to develop an innovative label technology. The Spinformation rotating label has been licensed on products the world over, is protected by 20 U.S. and international patents, and has received more than 13 industry awards. To put it simply: Key knows how to use intellectual property to profit. This book will teach you how to:•Get a licensing contract with or without intellectual property•Write a provisional patent application that stops others from stealing your idea•Find and hire a killer patent attorney (they are not all created equal!)•Save thousands of dollars on legal expenses•File patents that have true value•Negotiate a win-win agreementIt also details Stephen’s experience defending his patents in Federal Court—a David versus Goliath saga he has never before written about at length—as well as provides tips about how to avoid a licensing contract from going bad.
About the Author
Stephen Key is the world's leading expert in licensing consumer product ideas and a 2018-2019 American Association for the Advancement of Science-Lemelson Invention Ambassador.
He achieved repeat success as an independent inventor, including defending his intellectual property against one of the largest toy companies in federal court. The innovative packaging solution he brought to market is protected by more than 20 patents and received 15 industry awards, including two Edisons. Products he invented have sold in Walmart, 7-Eleven, and Disney stores and theme parks worldwide, as well as been endorsed by Michael Jordan, Alex Trebek, and Taylor Swift.
inventRight, the coaching program he cofounded in 1999, has helped people from more than 60 countries license their product ideas. He explains how to take advantage of the power of open innovation on his popular YouTube channel inventRightTV and in his articles for Forbes, Inc., and Entrepreneur online.
In 2017, he cofounded Inventors Groups of America with the goal of educating and empowering inventors and inventing group leaders. He is also the cofounder of inventYES, a free program for high school students worldwide.
In 2019, he taught University of Newcastle in Australia students his 10-step strategy for licensing ideas, originally published in his bestselling book One Simple Idea: How to Turn Your Dreams Into a Licensing Goldmine.
He is also the author of One Simple Idea for Startups and Entrepreneurs, Sell Your Ideas With or Without a Patent, and Become a Professional Inventor: The Insider's Guide to Companies Looking for Ideas.
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