Whether you’re an experienced inventor or a newbie who just came up with your first big idea, the Inventor Smart Monthly Newsletter is for you!
You’ll find valuable tips, useful resources, and words of wisdom that can help move your invention ideas forward!
An Inventor Profile: Are you already an inventor or do you want to be an inventor?
What does an inventor act or think like?
- When you call yourself an inventor, it can take on a whole new meaning to your life. You can live up to the title by being aware of how things work in deeper detail and this thought process can become second nature to you. According to the Merriam-Webster Dictionary, here is the definition of an inventor, “to create or produce (something useful) for the first time”. As any successful inventor will tell you, the research you do before you set out on your journey can help bring you closer to your goals. So let’s evaluate “you” as an inventor by answering the questions below.
Do you have an inventive mind?
- Do you come up with ideas and solutions to challenges on a daily basis? Inventive minds are always seeing the next logical step that could be taken, while the rest of the world simply shrugs its shoulders and makes do with things as they are. Do you say, “This could be done differently” or “that could be improved”, “this could be modified a bit” or “that could be a big winner”? Inventive minds get excited when there is a puzzle to solve. Do you see opportunity everywhere you look? Inventive minds are positive and pro-active. They consistently ask themselves, “Why not?” when other people give up.
Do you have what it takes to achieve success?
- To take a great invention idea or concept from brain wave to prototype to marketplace, it takes more than dedication, determination and drive. To do your due diligence, to research and refine, to educate and inform, to overcome setbacks, to protect your work, to form partnerships and leverage your success takes more than perseverance and people skills.
Whether you’re inventive and imaginative; whether you brainstorm or work alone; whether you’re still thinking about taking that first step or you’re already working on your big idea, the one quality you have to have in order to succeed as an inventor is patience.
Many inventors choose to license their idea because they’re limited on funds, or if they have the resources, they don’t have the expertise or desire to dive into the many aspects of running a business raising funds, assembling production, developing, and executing a sales and distribution plan, along with other business activities.
So, what is licensing? Licensing can help you streamline your way into retail with less risk and initial investment, utilizing a manufacturer that already has retail distribution. When you license your invention, essentially, you’re leasing your invention idea to a company that is responsible for commercializing it. In most cases, when they sell your product, you earn a royalty on each piece. It means you’ve come up with an idea, have some intellectual property protection, developed and designed the product, and at least have a working prototype that you can show and you can demonstrate. It works by finding a company that already has products similar to yours in retail, and they would be the “licensee.”
You, who hold the idea and intellectual property, are the “licensor.” The licensee would be responsible for the manufacturing and has either a sales team or outside sales reps, who have relationships with these retailers, and their products are on the shelves in retail. Licensing may be your shot to add your invention into their product line and a way to get your product into retailers, and for you to earn a royalty! When you license your product you earn a royalty, which is a small part of the total profit a product makes and is usually defined as a percentage of the manufacturer’s wholesale price.
Source: How To Make Money with Your Invention Idea Book by Brian Fried
Question: What is a trademark and a service mark?
A trademark includes any word, name, symbol, or device, or any combination used, or intended to be used, in commerce to identify and distinguish the goods of one manufacturer or seller from goods manufactured or sold by others, and to indicate the source of the goods. In short, a trademark is a brand name.
A service mark is any word, name, symbol, device, or any combination, used, or intended to be used, in commerce, to identify and distinguish the services of one provider from the services provided by others, and to indicate the source of the services.
National Inventor Club hosted Elizabeth Foster, who leads editorial planning and development for Licensing International. Gain a profound understanding of the distinctions between product licensing for royalties and brand property licensing, and unlock new avenues for your inventions. Elizabeth has shared insights, success stories, and expert advice. This is an opportunity to amplify your invention’s potential!
About Licensing International: Licensing International has been at the center of the multi-billion-dollar worldwide brand licensing industry for more than 35 years, helping companies profitably grow their businesses through an unparalleled network of information and membership. Licensing is the fastest and most profitable way to grow a business and maximize brand value in any industry. Licensing International works to foster the growth and expansion of licensing around the world, raise the level of professionalism for licensing practitioners, and create greater awareness of the benefits of licensing to the business community at large.
We were also joined by Samantha St. Raymond, the VP of Membership for Inventor Smart Community. She shared exciting features of the Inventor Smart Community App, designed for inventors to connect, collaborate, network, and advance their invention ideas. We also heard from @Pierre Laspinasse , a Business Advisor from Small Business Development Center, who provided us tips on business models to assist inventors in starting their businesses. Another guest we had was Elizabeth Dougherty from the USPTO, who announced Women’s Entrepreneurship Wednesday events that inventors and entrepreneurs can take advantage of. We also learned about the Patent Trial and Appeal Board (PTAB) through Cynthia Hardman of the USPTO, an administrative patent judge. She discussed how the PTAB can assist inventors with their patent-related concerns and shared some upcoming events that may interest inventors.
National Inventor Club is one of the largest and most active communities for inventors, innovation, and service providers that support invention and continues to provide a nationwide platform for great guest speakers, networking, and connections founded and moderated by Brian Fried, who has been running inventors clubs for over 15 years.
To become a member, free or paid for inventors and service providers, please join us at National Inventor Club
The Got Invention ShowThe Got Invention Show features a 30-minute interview where an inventor promotes an invention, seeks a licensing deal, or looks for distribution opportunities. Host Brian Fried focuses on his guest’s challenges and solutions. He asks about their journey, where they are right now, and what will come next. He invites guests to offer words of wisdom to viewers and listeners.
In the latest episodes of Got Invention Show featured the Brush Refresher, invented by Dr. Alevtina Malakova, a 3rd generation dentist, is currently a consultant for many dental offices and is co-owner of Always Smile Dental with her father Dr. Albert Malakov. Raised in New York since the age of 5, Dr. Alevtina Malakova, who goes by Dr. Tina for short and sweet, has been an active leader in her Sephardic and Russian community throughout her adolescent years. When interacting with patients, Dr. Tina picked up on the fact that there were many concerns voiced about having to always keep throwing out the old toothbrushes and buying new ones, and people not being able to find a long-lasting toothbrush. Her husband, a pharmacist, had also encountered these questions from customers who thought that there just has to be a brand which allows for one toothbrush to last a longer time than usual. And after brainstorming and discussions, the BRUSH REFRESHER concept was born to solve those issues and MORE! Now you can keep your toothbrush and simply swap out the bristles and another added feature of storing the bristle replacements within the toothbrush handle! The Brush Refresher inventors are focusing on creating a buzz for this new and modern 21st-century change to the age-old toothbrush. They currently have two utility patents issued, a prototype and TV promo video of the Brush Refresher, now looking to get their product licensed to earn royalties from one of the major oral care manufacturers.
The BRUSH REFRESHER is definitely a game-changer in the dental industry!! www.brushrefresher.com
Would you like to be our guest on the Got Invention Show? Schedule your interview today to promote Click Here to Watch All Inventor Interviewsyour prototype or product now available for sale to now reaching 100 million households!
You and Host Brian will do a 28 minute interview and once the interview is completed, you can use it for your website and social media and we air on Amazon Fire, Roku TV, YouTube TV and next month we will be on Apple TV!! The podcast audio version of your interview is played on Spotify, iHeartRadio, Google and Apple Podcasts and Amazon Music! Small fee, great promotion for you and your invention!!
USPTO Training and Education Events
The USPTO offers training and events for inventors and entrepreneurs. If you wish to attend, you can find information on upcoming and past events on the USPTO website. To access the complete list of upcoming and past events, please visit the website. https://www.uspto.gov/about-us/events
“Driving is good but don’t miss out on the joy of a journey getting there! The sacrifice is greater than the reward. Hebrews 11:1. Now faith is the substance of things hoped for the evidence of things not seen”
Inventor and Member of National Inventor Club
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This is a shop for you! You’ve worked hard on your invention, now you can wear DESIGNS & MERCH made with you in mind! Find shirts, hoodies, sweatshirts, hats, stickers, blankets and over 1,000 unique items to show that you are proud to be an inventor. check out InventorMart.com
About Brian Fried
Inventor. Speaker. Coach. Author. Radio & TV Host. Founder.
Brian Fried, known as “The Inventor Coach,” is a highly accomplished innovator, author, and speaker. With 15 patents to his name, he has successfully licensed and manufactured his own inventions, gaining recognition through QVC, infomercials, catalogs, and major retailers. For over 18 years, Brian has been working closely with inventors, providing one-on-one coaching as an invention licensing agent and guiding inventors in commercializing their ideas into tangible products.
As an expert speaker, Brian captivates audiences with his engaging talks on innovation and invention. He has authored three books, offering practical advice and strategies for aspiring inventors. In addition to his speaking and writing endeavors, Brian hosts the “Got Invention Show,” a platform that showcases inventors and their creations, providing them with valuable exposure. Brian is the founder of the National Inventor Club, a community that supports and connects inventors, fostering collaboration and networking opportunities. He serves as the Chief Invention Officer of Inventor Smart, an invention consultancy that assists inventors in bringing their ideas to fruition.
In August 2023, Brian is set to officially launch the Inventor Smart Community app, an innovative social media and resource center exclusively designed for inventors. The app, now available for download on Google Play and the Apple App Store, aims to create a vibrant community where inventors can connect, share ideas, and access valuable resources.
With his extensive experience, resourcefulness, and commitment to helping inventors succeed, Brian Fried has become a trusted figure in the invention industry. Inventors and aspiring innovators can rely on his expertise and guidance to navigate the complexities of the invention process and turn their ideas into reality.
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Brian and the Inventor Smart Team