Does an inventor really earn money? Watch to find out! #licensing #money #innovation #motivation

Curious about how much money you can make with product licensing? There's no average—some people make $10k a year, others up to a million. In this video, Stephen Key shares insights into the earning potential and timeline for collecting royalties after signing a licensing deal. Learn why it can take up to two years before you see significant income, and how patience is key in the process. If you're an inventor, keep submitting your ideas and don’t forget to share this channel with anyone it can help. Thanks for watching!

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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[CostarPelotheri]

Thank you for reminding me of my dream to create products

[paulbarton]

Thank you for telling it how it is!!
You rule Steve

[EVATVDirect]

One thing to consider, is if you consider everything. The average is a negative. As in, more people lose money trying than actually make anything at all. Nothing wrong with that. Just make sure you realize that spending more money doesn't usually increase your chance of getting the deal, but it does reduce the upside if you do actually get a deal. Could actually completely eliminate it, depending on how much you sunk into it. Just be careful not to spend more money on your idea than you absolutely have too. Spend money on the things you need at the time, not the things you think you might or even will need in the future.