When you license your idea youre partnering with a company aka the licensee that has manufacturing capabilities and distribution so that your invention can be brought to the marketplace and ideally all parties will earn a profit as the licensee will earn a profit and youll earn royalties what kinds of inventions can be licensed. If you decide not to license your invention to a third party how will you produce large quantities of your product in many cases profitable inventions are made from metals and plastics and require significant factory resources to mass produce you may need to obtain zoning variances or various licenses to begin production. How to license your invention there are several steps to successfully licensing your invention first you must find the right people to review your idea and ensure that it has appeal second you must raise the money necessary to develop and protect your invention such that it can be licensed in a complete form to a third party. Market and license your invention the 19th edition includes the latest implications of the first to file rules created by the america invents act whether youre new at the inventing game or a grizzled veteran patent it yourself will save you grief time and money. The commercial feasibility of your idea or invention in addition many innovation center programs that perform unstructured commercial evaluations are heavily oriented toward technological advances and potential start ups not toward independent inventors seeking to license their inventions
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