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I have more than one product based on a similar idea...do I license both?

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I have more than one product based on a similar idea...do I license both?

Post  hungrrrry on Wed 13 Jun 2012 - 11:06

Without going into too much detail on the invention, I have a few ideas with actual working prototypes that could possibly even receive seperate patents. They perform a similar task but each performs the task in a different way...meaning, if you need it done this way, buy this one and vica versa. I am confident they will both do well on the market and am considering all aspects for getting it into the market including making them myself as I have alot of experince in the manufacturing end but just haven't operated a company. I know there is a mountain to climb but as I said, I am confident in my search as well as the market in which these items are intended.

The question is...If I was indeed able to show the differences each has and have IP protection or at least applied for such would I be smart to seek licensing (if that was an avenue I decided to go) of each item or basicly my entire lineup of items which pertain to the same field? Would I conceivably make out better with licensing the individual item concepts or brand all that I have and license the brand and products as a company, if you will? The difference between items is similar to the difference between a round point shovel and a flat shovel...they each have uses that are different enough to see how one has benefits over the other. Why I am considering licensing is that I have other ideas I wouldn't mind breathing life into, if I can. So I want to weigh the possibilities before I commit.

Any help in this area would be very helpful!
Thank you
Barry

hungrrrry

Posts : 5
Join date : 2012-06-05

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Licensing

Post  Roger Brown on Wed 13 Jun 2012 - 15:39

Read these articles I wrote for Inventor's Digest. I think they will help you make an informed decision what is best for you.

How to Submit Ideas to Companies Think Before You Send
http://www.inventorsdigest.com/archives/6674

12- Step Program Sealing a Licensing Deal for Under $100
http://www.inventorsdigest.com/archives/5042

Licensing Vs Manufacturing
http://www.inventorsdigest.com/archives/2927



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Roger Brown

Posts : 95
Join date : 2011-02-20
Location : South Carolina

http://www.rogerbrown.net    http://www.looking2license.com

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Licensing Vs Manufacturing

Post  hungrrrry on Thu 21 Jun 2012 - 10:11

Roger Brown wrote:Read these articles I wrote for Inventor's Digest. I think they will help you make an informed decision what is best for you.

How to Submit Ideas to Companies Think Before You Send
http://www.inventorsdigest.com/archives/6674

12- Step Program Sealing a Licensing Deal for Under $100
http://www.inventorsdigest.com/archives/5042

Licensing Vs Manufacturing
http://www.inventorsdigest.com/archives/2927



Thank you Roger for the response but I didn't find my main concern within those links you provided so let me elaborate a little more so my questions comes across better. I wasn't very detailed in the initial post:
Going back to the hypothetical of shovels as my invention...lets change it up a bit...lets say that I invented what I believe is the most ergonomic yet productive/effortless shovel handle. But to best use the handle, tweaking the head-to-handle mounting design would be needed. I can patent the handle and license it out to shovel manufacturers, no problem...leaving them to figure out the mounting tweak! Now lets say I figured some people like the new shovel handle idea but already own shovels and would rather not throw them away to buy those new improved shovels...so I come up with quick and easy way to retrofit (an adaptor of sorts) the new handle to what they already have without them needing to buy the entire, new shovel.
Problem or concern: Imagine the adaptor is something as simple as a metal hose clamp...would I be smart to patent the retrofit/adaptor? Or, the use or design of it (if it needed to be a little different than the average hose clamp)? Or, is that something that can simply be allowed in my claims and/or specifications of the patent for the handle itself? Or, lastly, just let the manufacturers figure out everything not related to the handle patent?
The issue I am having is...I want to get the IP rights but I want to cover all the bases I can and am not sure if I should include this in the claims/specifications, a seperate patent or none of the above.
I appreciate the advice!
Barry

hungrrrry

Posts : 5
Join date : 2012-06-05

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Re: I have more than one product based on a similar idea...do I license both?

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