Friday, September 5, 2008

Other Options

There is more than one way to create an income from your invention or intellectual property (IP). Most people invent a product and it becomes like a new baby in the household, a real member of the family. They bring it to life, create a business, sell it and work really, really hard keeping it alive. Don't get me wrong, I'm not one who believes in free or easy money, but I do believe you can work smarter, not harder.

One of the ways other than producing and selling your product yourself is to license it to a company that already does something similar. With our gloves, we are in negotiations with several glove companies who already have established relationships with off shore manufacturers and distribution channels for retail sales. Next week I will talk about what I know of the licensing process and how you can determine if could consider this a viable option as well.

Have a great weekend and I'll see you Monday!

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