I Sued LEGO. Was That a Mistake?

Learn about the worst mistakes made by entrepreneur, author, and inventRight cofounder Stephen Key during his lifelong career as an entrepreneur. In Part 3 of this four part series, he describes why — now that he's had a chance to look back — he wouldn't make the decision to sue a company that he perceived was infringing on his intellectual property. Knowing what he knows now, he would not have done it.

This is priceless information and perspective for all entrepreneurs, especially product developers and inventors who are patenting and licensing their innovations!

If you want to become a successful entrepreneur, you had better get comfortable making mistakes — and fast! The lessons you learn from your mistakes will stick with you. In fact making mistakes cannot be separated from becoming a successful entrepreneur. Inventor, author, and columnist Stephen Key has been an entrepreneur his entire life. In fact, he's only really ever had one real job! So of course he's made some big mistakes. In this video, Part 1 of 4, he opens up about his biggest mistakes.

What are the biggest mistakes you've made as an entrepreneur?

If you have questions about how to invent, how to be creative, design, how to do market research, prototyping, manufacturing, negotiating, pitching, how to sell, how to cold call, how to reach out to open innovation companies, licensing agreements, non-disclosure agreements, patents, copyright, trademarks, and intellectual property in general — subscribe to inventRightTV! New videos every week, including tons of entrepreneur success stories.

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[Intellectual_Designs]

Hi Stephen, did you consider during the settlement discussion to have Legos become a licensee, as part of the settlement?

[mamaafrika]

Seriously I wanna sell out my idea to someone for few thousand bucks to work on my next project