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Landing a 7-Figure Licensing Deal

296 ratings | 8813 views
After watching her mother struggle to fix her eyewear, Nancy Tedeschi was struck by an idea. Why not reinvent the screw by adding a long snap-off piece? Thereby enabling glasses-wearers the world over to quickly fix their eyewear! Nancy was absolutely sure she wanted to bring the product to market herself and eventually succeeded. But the burden of running her own company was too great, so she turned to licensing. To date she's sold over 15 million units and her product SnapIt Screw now retails in Walmart. Watch our free webinar with Nancy to learn how she did it! Link: http://www.inventright.com/nancy-s-seven-figure-deal-signup. inventRight is a one-on-one coaching program that has helped people from more than 40 countries license their ideas for new products. It was founded by Andrew Krauss and Stephen Key in 2001. 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. inventRight, LLC. is not a law firm and does not provide legal, patent, trademark, or copyright advice. Please exercise caution when evaluating any information, including but not limited to business opportunities; links to news stories; links to services, products, or other websites. No endorsements are issued by inventRight, LLC., expressed or implied. Depiction of any trademarks/logos does not represent endorsement of inventRight, LLC, its services, or products by the trademark owner. All trademarks are registered trademarks of their respective companies.
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Text Comments (52)
Jim Frugia (2 months ago)
Can you still get a patent after you have started selling a product?
inventRightTV (2 months ago)
Hi Jim. Stephen and Andrew are not patent attorneys, and cannot provide legal advice. Know that there are few black and whites when it comes to intellectual property. Please reach out if you're looking for help commercializing your product. Two affordable resources on IP are the USPTO and your local inventors group. Thank you for watching.
Brendyn Harris (3 months ago)
Hey Stephen Key my name is brendyn from Philadelphia I have a product I truly believe that its a billion dollar product because im solving a major problem I the world. I have a drawing and I made a prototype. which I make all my products from the dollar store, that's just something i believe in. any invention can be made in a dollar store. the product i have i don't want to send out to manufactures in China just in case they might take it. but i need to know where can i start and safely protect my idea. maybe with your help i can get this on the market. just a hint of my idea every workplace and college will want this " Every" . Can i email you ? this idea is a game stopper and will make me a 30-year-old billionaire
inventRightTV (3 months ago)
We'd love to help, Brendyn. Get in touch with us: https://www.inventright.com/contact
Daniel Martinez (5 months ago)
How about you teach us the do’s and donts to get that income, not just advertise a product your videos suck so far
inventRightTV (5 months ago)
Do you like to read? Here are hundreds of articles Stephen has written to help inventors: https://www.forbes.com/sites/stephenkey/#49b1db8f3dfd https://www.inc.com/author/stephen-key https://www.entrepreneur.com/author/stephen-key Thank you for your feedback.
Justina Kavanagh (5 months ago)
Great idea. Need this too.
Sassy Age (1 year ago)
Hi guys. Thank you for making these videos and informing us. I just found your channel today and watches half a dozen. I am trying to watch the webinar and the link is not working. I want to learn and do as much research as I can before I pitch my product.
inventRightTV (1 year ago)
Hello Sassy Age! Thank you for watching our videos! This webinar is very illustrative and we'd hate for you to miss out! We are having trouble with the link right now, but you can still watch it. Click here: http://www.inventright.com/bootcamp-program and go to the very bottom of the page. You'll find a scroll with recent student webinars and you'll see Nancy's webinar there.
Emmanuel Marchesini (1 year ago)
Hi Stephen, how do i go about if i have and idea A and then i come up with idea B that complements the idea A? how do i pitch the ideas?
Emmanuel Marchesini (1 year ago)
Thanks for your Response!
inventRightTV (1 year ago)
Hello Emmanuel! Thank you for watching! That depends on the ideas! You don't want to be giving them away on a public forum, but I'm afraid I don't really know what to say on such a general case.
Bobbito Chicon (2 years ago)
So this thing makes 7 figures?
inventRightTV (1 year ago)
It has great distribution, so it stands to make more than seven figures. Gene Luoma's Zip-It drain cleaner has made 8 figures! https://www.entrepreneur.com/article/294133
craig womack (2 years ago)
do you still take sell sheet submissions?
inventRightTV (2 years ago)
Not at this time, but we may do another video in the future. You can send your sell sheet to [email protected], but please know we will not be recording a new sell sheet review video for some time.
Sheryl Tate (2 years ago)
Thanks!
M. Öckthem (2 years ago)
GREAT VIDEO'S. I am about to send my idea to Reckitt Benckiser. Butttt,, I have no provisional. Should I do it? Or should I file a ppa request first?
inventRightTV (2 years ago)
If you're looking for more advice, get in touch with us: http://www.inventright.com/contact-us-today
Laura Petrilli (2 years ago)
I had about 6 inventions when I bought your book ,  now I have 16   inventions.
What's the name of the book?
Carrie Jeske (2 years ago)
Congrats to Nancy. What persistence! She was a finalist with our invention contest in Kansas City when she first launched about seven years ago. What a great journey to success. She never gave up, listened to advice and stands in the winner's circle. Fantastic story.
SingleDo (2 years ago)
LOl, Nancy, and Steven, you are my hero!
Cosmo John (2 years ago)
Love your vids, Bro!
Stephen Willis (2 years ago)
Investors with one of the top 5 ASOTV groups are looking at two of my ideas. One passed the committee review and is being pitched to the investors now. Next step is testing and a term sheet. It has taken me two years to get to this point. So excited!
Stephen Key (2 years ago)
Thank you for watching! We're here to help!
Stephen Willis (2 years ago)
Thank you for your time and tips. If something happens I would like to follow-up. I have been watching your videos the last couple weeks and have learned a lot. I am considering becoming a student.
Stephen Key (2 years ago)
Hello Stephen, all you need is a prototype and a video. Filing a PPA is always a good idea. Having a good attitude is a must. And please read one simple idea!
Stephen Willis (2 years ago)
Thank you Stephen. The term sheet is not in hand yet, but on its way... I have a hoodie product not on the market and it fits a company with hoodie products. I reached out to them and told them I am interested in licensing a product to them. What should I expect? I just have a prototype and a video. This company made a deal on Shark Tank recently.
Stephen Key (2 years ago)
Congratulations!
Earnest Bailey (2 years ago)
do a video on improvement clauses, elaborate please
inventRightTV (2 years ago)
In the meantime, you can read about improvements clauses here: http://www.inc.com/stephen-key/without-this-clause-your-rights-to-your-product-idea-are-in-danger.html. Thanks for watching!
Earnest Bailey (2 years ago)
appreciate you for responding so promptly
Stephen Key (2 years ago)
This would be great topic.
Earnest Bailey (2 years ago)
thank you
BadAssBugs (2 years ago)
why upload a 3min video? kind of a waste
Derek Starr (1 year ago)
the link doesn't work
Chris Haygood (2 years ago)
Awesome! Thank you for sharing!
inventRightTV (2 years ago)
You can watch the hour-long webinar, for free, here: http://www.inventright.com/nancy-s-seven-figure-deal-signup. Thanks for watching!
Fic-tagious (2 years ago)
Well I asked a few questions on 2 separate videos and never really got any helpful answers from you guys... So no point asking now. :/
Fic-tagious (2 years ago)
If you ever want to see/know more of my concept(s) based on my idea just to get a better feel of what I have, then just let me know. And will do as you asked. Thanks!
Stephen Key (2 years ago)
David just be persistent. Love what you do. Be enthusiastic! And reach out to US companies.
Fic-tagious (2 years ago)
Thanks Stephen. I hope I explained enough to you and my reasons for being "blunt". Will definitely keep you informed on my progress and if something sticks. Big kudos to you for using some of your time to chat.
Fic-tagious (2 years ago)
Yep... I know. But when frustration hits hard, sometimes you got to hit back ;)
Stephen Key (2 years ago)
David it was a pleasure speaking with you today!
John Higginbotham (2 years ago)
Another, fantastic video!!! Brilliant idea too!
Curtis Martin (2 years ago)
Wow.
chiptune animation (2 years ago)
second
Mike Parniani (2 years ago)
Just love it, thanks Stephen for sharing.

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