Toy Brokers and the Toy Industry (Licensing)

The toy industry is so creative, it's truly difficult to invent a product that toy companies have not seen before.

7,000 new ideas are presented at Toy Fair alone every year!

Stephen Key and Andrew Krauss, inventRight cofounders, explain the nuances of inventing and licensing for the toy industry.

Stephen Key got his start in the toy industry many many years ago, actually!

Earn money from your ideas with the help of inventRight. We help you license your ideas, inventions, and products for passive income.

New to the licensing business model? Educate yourself first.

*About Stephen Key, inventRight Cofounder*

Stephen Key is an award-winning inventor, renowned intellectual property strategist, lifelong entrepreneur, author, speaker, and columnist. He has over 20 patents in his name. The dozens of concepts he has brought to market have retailed in Walmart, 7-Eleven, and Disney stores and parks worldwide and been endorsed by Michael Jordan, Alex, Trebek, and Taylor Swift. He has defended his patents in federal court against the largest toy company in the world, Lego.

In 1999 he cofounded inventRight with inventor Andrew Krauss to teach others his unique process of harnessing the power of open innovation in the licensing business model. His best-selling book about how to license an idea, One Simple Idea by McGraw-Hill, has been translated into six languages.

He has spoken at Stanford University, Florida State University, the University of Michigan, UC Merced, the USPTO, World IP Forum, University of the Pacific, Cal State Fullerton, Washington University in St. Louis, the Art Center College of Design in Pasadena, the Economic Development Agency for Northern Ireland, and many more.

He has written five books related to product licensing and intellectual property and is a longtime contributor to Forbes and Inc.

From 2018-2019, he was honored to serve as an American Association for the Advancement of Science-Lemelson Invention Ambassador.

In 2021, Mojo Nation named him as one of the 100 most influential people working in the toy and game industry.

In 2022, World IP Forum named him a “Most Influential and Inspiring Leader Of All Time.”

*About Andrew Krauss, inventRight Cofounder*

Andrew Krauss is an expert on licensing products ideas for passive income. He has been helping creative people bring their concepts to market with less risk and more success for 25 years as a cofounder of inventRight.

During his tenure as president, he grew the Bay Area Inventors’ Alliance group into one of the most active and well-established inventor associations in the country. In addition to advising the White House on innovation, he has been featured as a speaker at USPTO conferences and on NPR’s Science Friday.

*About inventRightTV*

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[raquelandrea]

Thanks so much, Andrew and Stephen! Here's the latest info according to my experience: You pay the broker hundreds of dollars to review your product idea. If the broker likes your idea, the broker will pitch the idea to the "Big" companies. Then if there's interest in the product the company will develop the product to their liking and build/pay for the prototype. It's to my understanding that a working prototype is not always necessary in order for the broker to pitch the idea. Hope this helps!

[MichelleMorrison]

The inventRight team is so awesome! You're entertaining while loading us up with wonderful information. Love the shirts, I can totally see the two of you sitting next to each other in 30 years still helping everyone bring their ideas to companies....save the shirts and wear them then also!!! :D

[keymail]

Thank you for this! And I love the shirts guys!

[cunoklahoma]

Love the shirts.. Just having fun is what it is all about.

[givmespace]

you: how do you like the uniform guys? :)
us: Thanks! we hate it! :)

[kD-sddv]

Hello,
At 2:24 they mention a company but I cant make out what it is. Can you some help please.

Thank you

[BadHammerProductions]

Thanks for all your get insights, much appreciated

[sheriblueeyes]

Love your shirts!! I have a toy invention that I want to submit. I have ordered your book. Is there a list of toy companies accepting submissions?

[CrazySeamstress]

Stephen you're shirt is way cooler looking then Andrew's, not fair

[josedrumer]

it does look like a pijama ! I laughed so hard

great video, thanks

[VibeBooth]

thanks for the info I've had success selling my version of a marvel/hasbro toy and I will submit it soon :)

[prestonchristesen]

Nice shirts guys and great stuff thanks!

[kiruriah]

2021 Yeah Andrew the shirts look like table cloth.

[GingerCookieCrew]

I have been working on a concept that no one has ever thought of. It sucks sitting on something and can't afford patenting the idea. One day.. One day.

[hassandoukkali]

i have a lot of good ideas inventions but i am stoped at no gmax 1.2 freeware obtention...3DS is not found at our area.

[eddie]

hey, can you send me a link to "new product development" that you mentioned?

[kiruriah]

$200.00 I paid $twice that and my pony is still waiting, My broker hinted/sugested a prototype. I am still waiting.

[hassandoukkali]

i haven 't any RH to continue this fabulous 3D project...i just wants some conseilours to obtain 3d print for my deleted society radied now...what i had to do, bad health break all the project...i was buider in gmax 1.2 freware...now Autodesk has take all the conrol of Gmax 1.2...

[sageesch]

any recommendations about those legit toy brokers?

[bonniedoes]

Come to South Africa and help me with my inventions