inventRight's Origin Story: How Stephen Key Met Andrew Krauss

inventRight cofounders Stephen Key and Andrew Krauss explain how they met many many years ago and why they decided to start working together to help inventors license their ideas.

Stephen Key recounts his first encounter with Andrew at an inventors group meeting, where he showcased his rotating-label packaging invention, sparking the beginning of their collaboration.

Andrew Krauss and Stephen Key detail their evolution from hosting intensive live training seminars to expanding their reach online, leading to a global coaching program with students in over 65 countries. Discover inventRight's origin story.

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

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*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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Reference on this video to any specific commercial products, process, service, manufacturer, company, or trademark does not constitute its endorsement or recommendation by inventRight, LLC or its hosts. This video may contain links to external websites that are not provided or maintained by or in any way affiliated with inventRight, LLC. Please note that the inventRight LLC. does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

[JoyfulEclecticWoman]

In six years you have far surpassed your goal of 10K! Congratulations! And THANK YOU for sharing your expertise.

[grahamharris]

It was very interesting to learn how you guys started out with InventRight, and great to know you have helped so many inventors succeed, the proof is obviously evident due to your track record, nice video!

[margaritaescobedo]

I'm so glad I found your channel and watching your videos are teaching me alot.You care so much about your subscribers. Thank you love you videos.💖

[alvjenni]

Thank you for your enthusiasm and passion. I have watched about 5 of your episodes in a row and all of the information is incredibly helpful.

[rsm]

Stephen and Andrew you guys are an inspiration and I pray God continue to bless you guys

[MrDjchaz]

10K Subscribers :)
Best channel on YouTube.

[TaliaAfoa]

Back when inventRightTV had 7, 000 subscribers - flash forward to 2020: 40K subscribers! WOOHOO!!

[freespeechall]

Great story guys.
The personal stories really help. Bottom line this whole business is largely about who can we trust. I've always been good at reading people. You're authentic and real. I trust you. When I come up with the money, ill be signing up. I got a big one and I'm gonna need help reeling it in and getting it in the boat! 😂 I'm trolling your way.
Thanks again for all your free videos. Their fun, upbeat and so informative.
In the mean time, building prototypes this weekend and making a big list of companies to approach when the time comes.

[HandSaversUSA]

Glad to see how this all came to be. I do have a question for Andrew, Do you ever get back to the group sessions where you met Stephen? Just curious.

[T]

I enjoyed the background. Inventors are tough nuts to crack. The thinking pattern is engrained deeply so it's difficult to change.

Having been a student for six months I have an idea that I believe would up the InventRight program success rate significantly and it would also appeal to inventor types while bumping them back to center focus without a lot of babysitting.

That's my sell sheet. Let me know if you want to know more ;-)

[richardcrum]

I can't say enough about you guys

[Tim_Krause]

Morning, Stephen and Andrew.

I have a PPA question, I know you're not lawyers, but your experience could be helpful. I'm writing my first PPA, and struggling (I know big surprise), so my question my idea combines two different objects together with multiple holes. Is there a way to write the PPA to cover multiple versions of my idea? I just don't want my idea to have five holes, and someone come in later and uses 6 holes and I'm out.

Am I being foolish? or over concerned?

Thanks

[richardcrum]

You two are to Real, your great info without charging everyone Scared people at the same time please believe me, people are thinking right these guys are a fraud lol. This is so great that you guys need to help people out and get them their product licensed and charge a small 5% fee, and after we know what we are doing then we will be good.