How do you do it?
- Generate list of potential licensees, companies to contact to see if they want to manufacture and sell your product. Get the phone numbers and e-mail if you can.
- Don’t have a list of companies? Go to a retail store and look for what companies are selling your type of product. I went to a pet store and showed my son the companies I submitted one of my product to, “I contacted this one, and this one …”. Bring a notebook and don’t worry if you get strange looks. If they ask just say you are doing research.
- Find a contact person at the company:
- Call the company to get in touch with the right person.
- Use a phone script. “Hello, my name is ___________ and I’m a product developer. Can you please help me. I have a new product idea and I need to talk with someone who handles product idea submissions”.
- Get companies to sign a NDA (necessary if you don’t have a PPA, optional if you do).
- Once you have a contact, again use a phone script. “Hello, my name is ______________ and I’m a product developer. I have a design for a _________ that can ___________________. Can we sign a NDA so I can send you a sell sheet that describes the product and a link to my website. All I need now is your e-mail address so I can send you the NDA form or we can use your NDA form if you like”.
- Get the info and hang-up. Do not try to explain the invention over the phone, that will come later. A picture is worth a thousand words.
- Once the NDA is signed, you will send the sell sheet in an e-mail with the link to the product website.
- If you don’t hear back in a week, you should call to follow up.
If you need help with:
- 3-D CAD Design
- Sell sheet
- Drawings for a PPA
Just let me know if you need help. Send an e-mail to Inspiration2Innovation[at]gmail[dot]com
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