Earn Royalties on Your Invention
Inventors with a solid product in a growing market could develop their product, raise money, market, and go live or they can license their invention and let Shark Design handle the hard stuff.
Licensing an invention is the process of assigning rights to another party. It’s likely to be a much more simple and less expensive route than manufacturing and selling yourself. Further, for the right product, it can allow inventors to make money on the side while devoting the majority of their time to office or lab work.
Key Benefits of Invention Licensing
Inventors stand to realize several critical benefits when they choose to license their invention to Shark Design.
Licensing, in this case, is like a lease, the investor retains ownership of the invention’s intellectual property but grants rights to Shark Design to manufacture, import, advertise, and sell the invention within certain parameters and with a sunset clause. Shark Design then pays the investor a per unit or percent royalty on all successful sales.
This arrangement results in several key advantages to the inventor:
- Shark Design undertakes many of the business-related risks involved in developing, manufacturing, marketing, and selling.
- Shark Design is able to pivot from product design to product marketing by using our industry resources, which can take advantage of quickly evolving marketplaces and quickly gain insight into the competition.
- The inventor does not have to worry about details like warehousing, fulfillment, product liability insurance, and exporting details and paperwork. Instead, you can get right back to the process of working on your next invention, or even just take that vacation you’ve been promising yourself for far too long.
Increasing the Odds of Your Success
By licensing your invention with Shark Design, you are increasing the odds of your success. Whether or not your company has a product development strategy, simply putting that strategy into place can involve multiple technical teams and diverse areas of expertise. Leveraging the resources available to you may be difficult, especially if your skills are focused on the nuts and bolts of product design.
Shark Design offers a number of attractive licensing arrangements for inventors:
- Royalties of 3-5% of the wholesale price or a fixed fee for every unit sold.
- Full sales and marketing plan assistance.
- Licensing terms are structured so you retain ownership of your IP and grant Shark Design certain rights.
- Exposure to major global trade shows in Asia, Europe, and North America.
Is invention licensing right for you? Contact the experienced professionals at Shark Design today for a free consultation. We’d be happy to show you our licensing process and how it might be the right way for you to scale your business.