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Written by : Mohammed Konrad
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hello and welcome everyone to another vet rice con TV show we have mr. Steven key who co-founded the business with myself my name is Andrew Krause mmm 14 years ago been helping students in over 40 countries in that time and today we have a new topic for you with the topic Steven a little note here so when someone asked me this question they said okay date says so we're gonna talk about how to sell an idea without a patent without a patent you know you always mess with people on that play on words you don't really mean without up it is without a patent but a patent but it's nothing else people think that you have to license an idea because it's gonna protect your idea the people are gonna feel it for me because it's a good idea and if I don't protect it nobody's gonna feel it it's just a lot see they also say that if you don't have a patent why would someone pay you for an idea I couldn't agree with them more you know sounds it sounds logical it does the average Joe on the street that's true you know you have a good idea you tell Uncle Joe and the average person on the street their only advice to you if they believe it's a good idea to you better get a patent on that and and then you go to an attorney spend a bunch of money now you got this pad and you go Uncle Joe what do I do well I just got back from a talk in Reno and it was a group of people that had patents and I wasn't quite sure how to start to just lecture off because I wanted to tell them you know sometimes you don't need a patent here but how do you tell them that yeah that their whole group is based on that I know and so I said look from from our experience that I'm there right that number one first of all most ideas that are on the market do not have patents okay number two what we're seeing today and we have seen for years that most ideas that get licensed don't have any intellectual property protect she was whoever well not whatsoever well most people if both our students file a provisional patent application right yeah that's I mean it's not actual protection it's it's protection where you can preserve your filing date so if you later want to file a pad so technically it's not protecting anything but even a patent pending a full patent pending you pay attorney it's still not protecting anything easy even if you got a patent doesn't guarantees protected so we should all we should all file a patent has been ten to twenty thousand dollars and sit around waiting three to four years or more some cases for it to issue and then we can start working on the project it's even uh isn't that correct well no that's not I mean even that's fully the opposite so I was thinking that the only way I could really help everybody in the room to say look how do you make money from your ideas okay okay because that's why we're all doing I mean we do love our ideas and you know we we love them and and we really like we really love the ones that are more profitable than the other ones okay so what the people can enjoy you know you get out there in the world right yeah I was telling everybody there's a strategy that works and it's all about taking away risk and number one companies need products okay in fact the appetite for new products is so great that they just need new new new all the time now right and if your product lands on someone's desk or potential licensees desks and they're looking at it and and the gentleman the CEO or whoever the muckety-muck is looks at because I really like this it looks over if the attorney goes what about protection and Teresa's way he's only got a provisional patent application he goes you're gonna get it maybe yes maybe no we don't know and really they don't care now that's the thing that also that that gray area that's a good thing I liked a gray area most people are very uncomfortable with it I know the patent attorneys hate when I say that but here's the truth they want to take a product bring it to market and of course they like to take and protect it away from everybody else right of course they'd like to say hey this is ours and we're going to keep everybody else out yeah 100% ironclad kryptonite Superman can't touch my idea of protection unless you pay me a million dollars but it doesn't work that way because even though the big companies can't do that no Apple can't do it okay so if Apple can't do it why can we that's that's my argument you're weak we cannot no no well if Apple can't protect protect their idea well then if we can't protect it why should we tell if the companies will just steal it from us well they don't steal it they might work around it not stealing it man the way I'm playing I'm playing the average inventor on the street here you know that's doing it if they took it they didn't pay me they thought no no no it's their game well is that what all companies are trying to do oh no no you're unreasonable okay you're acting like a whacky inventor we really really want it you talk to this guy but you want to make me a bonus for yeah so so here's the deal and no you can't license an idea without a patent I think you need perceived ownership because I don't think you really own anything at the end of the day but ownership is enough for companies to say yes we will license it and you structure the deal here it is you guys the nutshell if you structure the deal in fact I read a book just on this if you structure the deal it's called how to license an idea with or without a patent about your own yeah and if you structured this way where you give them options and those options take away the fear and here they aren't care well the fear was is he gonna get a patent on this okay here's the fear so we took it away if if a patent does get issued we'll pay you five to seven percent and that's quite a few years down the road probably so far down the road you're gonna sell so many of the product before it even issues in fact in my issue and the product might be out of the market by the end but that's a whole nother argument so so if it's patent-pending we'll pay you three to five percent and if it doesn't issue at all the company will pay the inventor one percent for his efforts but it's always gonna issue because you can always put some weak claims in there if you're tricky even we know that you know and also so we're gonna you can always keep it patent pending too by filing more IP that's how you win every time folks yeah that that's how you license an idea regardless if you're gonna get a patent or not and people don't understand it because you just took away risk and note you've done you've opened it up one other thing that talked about the book is that the licensing agreements called the grant of license what are you granting to that company well they want to make sure it's got a patent number or an application number you have to get these claims and we're saying no no no we can add new IP because that new IP could help you and could help me and they all say yes so you can keep on filing provisional patent applications and keep it going on for a long time so finally point is this you guys learn how to play that game it's a really fun game it's a g
Thanks for your comment Bernadine Towels, have a nice day.
- Mohammed Konrad, Staff Member
welcome to another invent rice comm TV shows even kid what do you once that you're holding up there Steve what are you doing I was tryin to do my intro I know but I'm too excited you know I have a new book we have a new book and it's very important book why because no one's talking about this no one's giving people the real information attorneys aren't gonna give it to you most people don't even know what it should be but this is the real deal this book explains to everyone do you really need a patent to license an idea and I'm gonna strip it away until everybody you don't need a patent to license your ideas well if you have a lot of people at the thenar yellow book one simple idea what how is this book different than the book that people know so well this dives in to this topic about ownership it dives and about do I need a patent it talks about if you if you do want to write a patent how to write one that has value number one number two do I even need one what do what do I need is perceived ownership right and no one ever talks about that because people think they need to own something I'm here to tell you you don't need to own anything companies need ideas companies will license an idea without a patent they will pay you for your ideas without any intellectual property whatsoever in fact there's a tall they will pay you for everybody that's listening listen they will pay you for your ideas and you don't have to have a patent this book is gonna talk about the strategy though how to get people to pay you for your ideas without any intellectual property whatsoever because you still need to understand the language but it also talks about when companies are very patent centric which some are to talk about patent strategy there too as well right it kind of covers the whole gambit I wanted to do that in fact I wanted to title this book you know how to sell your ideas without a patent but it's more now it's selling your ideas with the patent or without a patent it's how to use the system the system using us yes as always it's about doing it very cost-effectively using things like provisional patent applications for $65 but it's going beyond the standard stuff that everybody knows it's very it's very strategic but on a very grassroots level that was is that an accurate way of putting yeah you know what it does it it talks about how to use intellectual property from a business perspective not from a legal perspective right just filing these patents and hey I love patents I have over twenty myself I've sold my company because my past and I talked about that strategy but that's not for everybody very small percent so I cover both sides of it I talk about how to use you know ppas provisional patent applications how to write them so it stops people from working around your ideas how to understand what what the value is on intellectual property but also I talked about if you're going to work with the patent attorney kind of find a great one how to find one that has experience with the USPTO with patent examiner's it also talks about how to cut a deal though everybody wins it's it's the strategy but I'm getting this perception that it's about real world that attorneys come out patents from a certain angle and you're coming at this from a very different angle which is I think that's the biggest reason why you wrote this this book is gonna save people thousands tens of thousands of dollars period I guarantee it if it doesn't walk in the book I'll give you your money back if it doesn't well that's because I'm trying to tell everybody you don't have to spend tens of thousands of dollars that's baloney you just don't have to do that right and but this fear that comes over all of us right someone's gonna steal my idea and you're gonna protect it are you going to talk about that I take it to the curb completely so you okay you're in command you're feeling empowered you're not worried you're not scared you're using the system for once we're gonna use the system the systems that gonna use us so if people are afraid of getting ripped off they should buy this book if people are very knowledgeable that patents already they should buy this book because it's gonna get very strategic as to as how to look at it a whole different way than just the way that your patent attorneys been sharing with you it's for the guy that's just starting out or for the guys that's very seasoned I covered both sides of it and also I'm going to talk about Legos all right somebody from Legos hiding under your desk there it's like you're looking the first time you know I don't know people know this or not but you know like I was in I sued a small little toy you know toy company Legos for years back and I talked about that story what happened for the first time okay and in fact someone wrote this great review and they said they had to reread that section three times so I actually talked about it for the first time but this book is gonna save people thousands of dollars it's going to empower you you're gonna take advantage of the system and you're going to be able to fight the biggest fight you will have the advantage of the big companies right and you find it on Amazon and you can also if you go to our site if you want to personalize copy where I sign it you can also get one of those so that's important how to sell your ideas with or without a patent by Stephen key at the Phe nky all right yes yeah we don't normally plug anything on our show so but he's very proud of this book you work very hard on it people knew how long it takes to write a book they would I think they would pull their hair out it takes a long time and I'm very proud of this book because this is this is a book that it should be in everybody's library if you've got an idea you have to have this book if you look at our book one simple idea is 300 plus five-star reviews Steve really brings it when he does a book and he did it again with the so sometimes Steve you know you know I talked about this before you business books it's like a bunch of floss so maybe two or three good pieces of information that's never a steven key book and so you guys like I like Steven said you'd be shocked if you wanted your money back or something on the book for the 19 bucks 20 bucks 25 bucks what what I've realized in this whole process is we need to take back to power that ideas are the power ideas make the world go round so we're gonna take back the power in this book does it I love it so if you guys liked the show down below click give us a thumbs up button subscribe to our YouTube channel we do these videos all the time Steven thank you so much and we'll catch up with you guys in the next event right comm TV shows yeah
Thanks skupnih6 your participation is very much appreciated
- Mohammed Konrad
About the author
I've studied mycology at Dean College in Franklin and I am an expert in mechatronics. I usually feel uncomfortable. My previous job was environmental compliance inspector I held this position for 13 years, I love talking about wikipedia editing and exercise. Huge fan of Maroon 5 I practice modern pentathlon and collect cracker jack prizes.
Try Not to laugh !
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