10 Questions to Help You Get Paid for Your Ideas

SOURCE: Inc. Magazine

“Can you license an idea? Yes. This drives the people who insist that only an invention can be licensed nuts, but there are companies looking for new product ideas that most likely cannot be patented. It all depends on the industry, the company, and the idea itself. For many consumer product goods, speed to market is more powerful than intellectual property.

That said, there are still plenty of companies that would like for you to have filed some intellectual property. A provisional patent application (PPA) is a smart investment, because you and/or your licensee have the option of filing a non-provisional patent application later on.

Here are 10 questions to answer before you start sharing your idea with invention licensing companies.”