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Hi,
I would like to ask the people (who have successfully licensed their product), if their product was patented or patent-pending at the time of their agreement.
I have an appointment with this company, The Big Idea Group and would like to know if companies like these ever license to people with only patent-pending products.
By the way, has anyone ever heard of this company, The Big Idea Group?
Your input would be greatly appreciated!
Jeannie
Jeannie, 2 out of 3 of your questions.
Yes! Most companies will enter into contracts with a prospective patent owner if all of their (other) criteria are met. The criteria that they follow prior to this stage (negotiating a patent pending product), will address 90% of the same overall criteria they will use for a "patented product", i.e., a good product is a good product. On the other hand, some companies with aversions to dealing with "pending" patents will state so immediately, and as a matter of policy ( a bad policy I might add).
Yes! I have heard of Big Idea Group. And yes they are a reputable avenue for which to look into . As a matter of fact, I`ve dealt with the president of one of the group`s companies, "Basic Fun" ( Alan Dorfman:15 years ago) . Unfortunately, the prospective licensing deal fell through for acceptable reasons.
I am sure that you can request their standard licensing model. And I suggest that you do so, prior to any meaningful discussions. Good Luck!!!
Jeannie,
I did license my product at patent pending status. No one is guaranteed a patent. You can negotiate a higher % if a patent is granted and if you cant get a patent the % will probably drop. This is because if they take on your product anyways, there is the possibility of competition for them. A lot of people think you should go big when licensing to a company. I licensed to a smaller company locally who I found through a referral. Research and make sure they are successful first with products before considering this. Good luck!
Hi RockSolid,
Wow, that`s great that you licensed your patent-pending product.
Initially, I heard companies don`t license "patent-pending" products because of the risk involved. Why would they spend money on it if it`s possible for another company to duplicate the idea?
Since I wasn`t sure, I wanted to get input from the people who successfully licensed their product.
Thanks for answering my question!
Jeannie
Jeannie,
I am here to help. Have you heard of Barbara Carey? Read her material The Carey Formula. It was very helpful to me. I recommend to all.
Have you thought of trying to initially manufacture them yourself and sale them through your website using Google ads on the internet. You would be able to keep a larger portion of the profit from each sale and could use the proceeds to fund your patent filing. Just a thought.
Edward Clutter
ideasforrent.com "Because an [idea] is a terrible thing to waste."
Hi Edward,
Thanks for the reply. I have indeed manufactured my product myself and I`m currently selling it out of my website.
But as RockSolid stated above, "No one is guaranteed a patent". So I just wanted to know if anyone ever licensed their product successfully before (without obtaining a patent).
I just wanted to hear some inspirational stories of how inventors decided to forge ahead (even though they had no patent protection). 
Jeannie
Yes, I also have other ideas in my head too! I guess, if my first idea fails, then I would start working on my other ideas. 
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