{"id":5209,"date":"2020-11-17T14:39:24","date_gmt":"2020-11-17T19:39:24","guid":{"rendered":"http:\/\/localhost\/osborne\/?p=5209"},"modified":"2021-12-22T19:33:49","modified_gmt":"2021-12-23T00:33:49","slug":"key-lessons-learned-as-an-independent-inventor","status":"publish","type":"post","link":"https:\/\/www.osborne-group.com\/fr\/key-lessons-learned-as-an-independent-inventor\/","title":{"rendered":"Key Lessons Learned as an Independent Inventor"},"content":{"rendered":"

Several years ago, I developed an invention that I wanted to take to market. Upon receiving the patent, a decision had to be made on what to do next. My options? Either license the invention or manufacture, market and sell it myself.<\/p>\n

Like any important decision, I approached it with careful consideration of the pros and cons. Not only were there procedural implications, but personal as well. I was forced to consider things like my age and a need to support my family by providing a steady stream of income. These factors were ultimately the simple ones, as I knew my responsibility.<\/p>\n

The real challenges were the business factors, knowing that both licensing and manufacturing offered different but equally viable outcomes. To start, I decided to flesh them out in a pros and cons format.<\/p>\n

The chart ended up looking like this:<\/p>\n\n\n\n\n\n
<\/td>\n\n

Pros<\/p>\n<\/td>\n

\n

Cons<\/p>\n<\/td>\n<\/tr>\n

\n

License<\/p>\n<\/td>\n

\n
    \n
  • Reduced risk<\/li>\n
  • Less time and effort<\/li>\n
  • More lucrative if the manufacturer has distribution and sales capabilities that can penetrate a large market.<\/li>\n
  • Success in one invention incentivizes the licensing of other inventions by the licensor.<\/li>\n<\/ul>\n<\/td>\n
\n
    \n
  • Less control on how the product is marketed and the level of effort in achieving its potential.<\/li>\n
  • Lower returns if the product is not a priority for the manufacturer<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
Manufacture<\/td>\n\n
    \n
  • Greater control<\/li>\n
  • Establish a Brand name<\/li>\n
  • Expand product offerings<\/li>\n
  • Potentially more lucrative than licensing in the long run<\/li>\n<\/ul>\n<\/td>\n
\n