How is the Coronavirus Impacting Open Innovation?

How has the coronavirus impacted open innovation? Are companies still looking for ideas? Are they still open to hearing from inventors about their new ideas for products? Can you submit to them? Should you? Licensing expert Stephen Key shares what he's learned from open innovation companies and describes where the opportunities are. Mostly, the news is good — but there are also some things you should be aware of.

Stephen explains that every company he has interviewed is still looking for ideas, but some companies have been more affected by disruptions at retail and trade shows than others. For example, smaller companies and companies not active on e-commerce platforms have felt the affects more greatly. For some industries, like home improvement and toys, this has actually been a booming time for business.

Watch inventRight webinars with open innovation companies recorded during the spring of 2020:
Hasbro: https://youtu.be/7jsXE2orteo
Hangman Products: https://youtu.be/z7fiev3gtMY
Baby Brezza/The Betesh Group: https://youtu.be/he6eMKiunUQ
QVC: https://youtu.be/stQxfVU6X6U

Learn more about inventing for needs versus wants: https://www.forbes.com/sites/stephenkey/2020/05/12/why-you-should-focus-on-designing-solutions-for-needs/

Bringing an invention to market? Let inventRight, the world's leading experts on product licensing, show you how. Cofounded by Stephen Key and Andrew Krauss in 1999, inventRight has since helped people from more than 60 countries license their ideas for products. Visit http://www.inventright.com for more information and to become their student.

Call #1-800-701-7993 to set up an appointment with Andrew or another member of the inventRight team to discuss how we can help you license your ideas.

New to licensing? Read inventRight cofounder Stephen Key’s bestselling book “One Simple Idea: Turn Your Dreams Into a Licensing Goldmine While Letting Others Do the Work.” Find it here: http://amzn.to/1LGotjB.

Want to learn how to license your product ideas without a patent? Stephen's book “Sell Your Ideas With or Without a Patent” explains exactly how. Find it here: http://amzn.to/1T1dOU2.

Determined to become a professional inventor? Read Stephen's new book "Become a Professional Inventor: The Insider's Guide to Companies Looking For Ideas": https://www.amazon.com/gp/product/1653786256/

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Видео How is the Coronavirus Impacting Open Innovation? канала inventRightTV