Invention Licensing Program
Have a product idea?
Lower Cost and Risk
What Is Licensing?
What Is Licensing?In its most basic form, Licensing is leasing out your invention. You retain ownership of your invention's intellectual property and grant rights to Shark Design to manufacture, import, advertise and sell your product within a particular retail channel for a period of time. Shark Design acts as the 'licensee' and pays either per unit or percent royalty on all successful sales for the rights to your invention.
Product licensing eliminates the need for our clients' to pay for the production, warehousing, fulfillment, marketing, product liability insurance, and other services or facilities but leverage our existing practices instead. This significantly reduces the upfront costs associated with launching the product, and our clients benefit from selling larger volumes through our expertise in this process.
Where In The Development Cycle Do I Have To Invest Initially?
Retailers are not looking for a project; they're looking for a product that's ready to go. Inventors must develop their product enough to showcase the concept and prove its functionality with a successful online pre-launch campaign while creating brand awareness with solid initial reviews.
Shark Design manages this process for our clients, where our sales and marketing plans help you achieve those goals and position you on the road to success.
What Are The Typical Royalty Rates?
Royalties can range across various product categories and depend on the retail price, but they range between 3-5% of the wholesale price or a fixed fee for every unit sold.
Product Development Manager, 4Ocean
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