How Much Does It Cost To License A Product To A Company?

How Much Does It Cost To License A Product To A Company?

Product Licensing is a very affordable way to get your product to market. It’s become more mainstream and growing in popularity with both inventors and companies alike.

More and more Companies are looking for products to license
(see why here (link to other YT “why co are looking for your product to license)

And with the popularity of invention shows like Shark Tank and Make me a millionaire inventor more and more people are inspired and are coming up with new and improved products.

But what is Product licensing? ( see our yt on “what is product licensing”) and how much does it cost to license a product?

In this video, we look at all the steps and tasks that one need to license a product and then we review the “cost” and “time” associated with each of those steps to give you a better understanding of how much it costs to license a product.

One of the advantages of product licensing is that much of what needs to be done in order to go from concept to summiting your product to companies for interest can be done by you, so generally there is very little cost and risk involved.

What we cover in this video: the time and estimated cost associated with the steps in the product licensing process:

• Product searching to make sure the product is not already in the market.
• Parent searching to make sure the product is not already in the market
• Patent searching yourself or hiring someone
• Creating a list of companies that License products
• The options and cost to make a prototype of an invention
• Creating your sales aids: sale sheet and sales video
• Protecting your product:
• Provisional Patent cost
• Submitting your product to companies for interest and following up
• Licensing agreement: licensing lawyer

Disclaimer: these are ballpark figures because there are so many variables involved in the product licensing business model that prices will vary.

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Видео How Much Does It Cost To License A Product To A Company? канала InventInsight