Oct 24 2024 60 mins 1
In this Bold Inventor Show episode, co-hosts J.D. Houvener and Matt Kulseth dive deep into the art of patent monetization with a special guest – Tom Stegeman. Tom shares his inspiring journey of developing an innovative swim fin product and successfully licensing it to a major company. If you’ve ever wondered how to get your product from prototype to market, this episode is packed with insider secrets, actionable advice, and real-world lessons. 🎧
Tom breaks down the challenges and triumphs of navigating the patent process, offering practical insights into:
Key Takeaways:
- 🏊 From Idea to Prototype: Why testing early with real users is essential to validate your product.
- 📝 NDA Negotiation Tips: How to filter through companies based on the attitudes and red flags in their NDAs.
- 📞 Getting Past the Gatekeepers: Creative ways to connect with decision-makers at top companies.
- 💼 Licensing vs. Manufacturing: Why partnering with an established company can often be more profitable than going to market alone.
- 📊 Persistence Pays Off: Tom’s roadmap for building relationships, pitching effectively, and staying resilient through the licensing process.
The episode wraps up with an exciting Shark Tank-style bold bite – analyzing a tandem inflatable boogie board pitch, discussing patentability, and exploring how to protect unique product designs. 🦈 Tom and the hosts evaluate the business model, highlighting key lessons on the importance of patents and trade secrets for entrepreneurs.
Teasers:
Thinking of licensing your product? Discover the critical questions to ask during negotiations and how to make the right connections in your industry. Tom also reveals how securing a patent can unlock powerful licensing deals and explains why NDAs are more than just paperwork – they reveal a company’s true intentions.
Have an invention or brand to protect? Or just curious about learning more? Download our FREE Inventor Kit here: https://keap.page/gw292/inventor-kit.html
DISCLAIMER
Everything discussed on this podcast is for informational purposes only and not for the purpose of providing legal advice.
