Questions

I have a fully patented product that I believe could be of interest to a big infrastructure builder like GE, bombardier, UTC etc. There are tons of articles on how to sell small trinkets but this idea is much larger. I have already had an offer to be bought out by an IP company, but I think I can get a better deal where I still own the patent. How would you start in on getting a product licensed by one of these companies? Due to the nature of the project time is of the essence! Thanks so much!

As stated in all of the other answers here, you need to find the right person to pitch to (duh).

Many companies have divisions setup just to evaluate external product development. Sometimes it's best to go around all of this and find someone in the sales department with the vision to see that your product concept could potentially be a real money maker for the company.

If you haven't read it already, check out "One Simple Idea" by Steven Keys. It's essentially the bible of licensing product ideas. The book is well layed out and can easily be skimmed as a reference without having to read the whole book.

https://www.amazon.com/One-Simple-Idea-Licensing-Goldmine/dp/1491581077

There is a whole chapter dedicated to finding the right person to pitch your idea to. He even includes e-mail and cold calling templates.

I hope this helps!


Answered 3 years ago

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