Do You Want To Be In The Toy Industry? Watch This!

Licensing a product in the toy industry is tough! In this video, Stephen Key shares his journey from launching Teddy Ruxpin to licensing the Michael Jordan Wall Ball. He reveals why the toy industry is one of the hardest for inventors, due to fierce competition from design firms with top-tier prototypes and packaging. Learn why Stephen Key shifted to less competitive industries and how you can boost your licensing success. Plus, discover how you can win $25,000 in prizes from inventRight to help bring your ideas to life!

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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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.

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[Flavoured-Thought]

I love this. I believe there are numerous industries out there. One needs to find their perfect match ❤

[AlbertDiprimeo]

I'm in it too win it!! Great video steve🏓🧸🤔💡✔️

[kondor]

I'd LOVE if you made a video on how to get your innovation brain going, what triggers your ideas, what kind of lifestyle makes best enviroment for inventions to appear in Your head. Your channel is a discovery of the year for me, thanks Stephen for the knowledge you share.

[tfrei]

Where do we find a list of the " best 200" Toy companies??? Anyone???

[pratikkarki]

I am thinking of making a toy brand from hemp. What do you think of it?

[barbarayuen]

I have good ideas for toys. It may be competitive, but I think I could succeed! ❤

[Heliazul]

I'm looking for a video on prototyping steps hacks and costs, and the importance level of it. I'd like to learn how to prototype.

[Miketzu]

I remember the videos that said "the toy industry was the EASIEST" to license. What happened ?

[CECEbengali]

You seem like a really nice guy, so to be honest, as a millennial/gen z girl, you shouldn't use the swooping motion transition every 5 seconds. It's distracting for a serious video. The transition also adds a few extra seconds compared to just lumping parts together. I don't want to know each time an editor pieced or cut out parts.

[richardcrum]

All sounds great but I don't understand how gateway really works, if you guys do it all for us, why would we need to be real good with using computers?