Licensing your ideas can increase your income easily over time whether you have a business or not. Little money is required and with the proper tools, some knowledge of the process, and a great agent, there is very little risk. Licensing can provide a steady stream of money over time with quarter annual royalty checks. Dependent on your attitude and work ethic, licensing is a long proven business model that works!
We can most effectively represent our client's when we have a clear understanding of their concepts in order to connect them to the best potential buyers. Prospective clients must return an idea submission form before we can evaluate their concepts. Further consultation with Triumph about an idea could also result in additional applications not previously conceived, that may have a higher probability of entering the marketplace.
We will gladly sign a confidentiality agreement for any clients who have not yet submitted a formal provisional patent application to the U.S. Patent and Trademark Office. Client ideas are held strictly confidential and will not be discussed with anyone, including potential licensees, until some sort of protection has been obtained.
If we sign an agency agreement to represent a client, we include the clause for a 180-day exclusive relationship with Triumph Initiative Corp. During this period, we work with clients to ensure that the concept is presentable and marketable to potential licensees.
Here is a breakdown of the process we will be working through together:
1. Study the marketplace - check in locals stores and online.
2. Invent for the marketplace - fill a need or create with the trends.
3. Evaluate your idea - can it be easily manufactured for worthwhile profit margins?
4. Create an inexpensive prototype - many strategies available.
5. Create one sentence that encompasses the key benefits - focus on the BENEFITS.
6. Create a Sell Sheet - a one-page brochure that can be understood in less than ten seconds.
7. Get some protection on your idea - provisional patent applications are less than $150.
8. Call potential licensees - first see if they have any interest or feedback.
9. Cut a great deal - draft and negotiate a win-win outcome.
10. Invest or Divest - adapt or move on to the next idea and continue working the process.