Provisional Patent or Non-Provisional Patent? The Licensing Jungle Discusses Which Might be Best For You

Have a Great Idea; The Inventors Launchpad Show 2017 Recap
January 4, 2018
Inventors Launchpad
Inventor Scams; How One Inventor Fought Back After Getting Scammed by World Patent Marketing
January 10, 2018

The Inventors Launchpad Network – Is proud to present The Licensing Jungle, Co-Hosted by licensing expert Mr. Jeffrey Mangus of Product Coach USA and Carmine Denisco, Managing Partner with Inventors Launchpad. As a Product Licensing Coach Jeffrey’s greatest strength is that he can simplify what you would like to accomplish into an easily implementable step-by-step plan. Helping you without the need to for him have extensive knowledge in your product or area of expertise because you are the inventor, the expert. Jeffrey’s expertise is in knowing the product licensing process, the inventing sequence and how to move people forward, which usually involves overcoming many common obstacles. Let this Podcast help you get over the bumps, steer clear of the sharks and get you where you and your product deserve to be.

www.productcoachusa.com

This Podcast is brought to you by the Inventors Launchpad Network.

www.inventorslaunchpad.com

Watch the podcast here!

 

Podcast Notes

1YouTube Transcription
hi everyone and welcome to the licensing
0:04
jungle boy every time I hear that song
0:06
it really gets me going I love this show
0:09
I love working with mr. Jeffrey mangas
0:12
who is still on vacation he's still
0:15
recuperating from the craziness of the
0:18
holidays and we wish him good luck we
0:22
miss him on the show and I'm sure he
0:24
will be back on soon we're looking
0:25
forward to his return but I wanted to
0:29
just do a quick show at the beginning of
0:32
the year we are going to continue the
0:34
licensing jungle we've gotten great
0:36
reviews a lot of good feedback from the
0:38
show and licensing is one of those
0:41
things that inventors always are looking
0:45
to do I would say a good 70 80 % of
0:49
inventors are looking to license their
0:51
products at some point you may not think
0:54
about licensing at first when you first
0:57
think of uh think of inventing your
1:00
product or making it you think about
1:02
manufacturing and singing on a retail
1:04
shelf and it really gives that whole
1:07
excitement to the invention industry
1:10
when you think about seeing your idea
1:15
seeing your product in a package on a
1:17
store shelf and one of the big retailers
1:19
Target Walmart Walgreens maybe Bed Bath
1:22
and Beyond and it and it really adds to
1:25
that excitement as we start progressing
1:28
through the invention steps I want to
1:32
say it it's still exciting but the
1:36
business side of it starts to come into
1:39
play and you start to really think about
1:41
and realize that it could be a lot of
1:44
work to supply that product to those big
1:49
retailers are those big-box stores and
1:51
it is a lot of work you have to know
1:54
what you're doing or have to have some
1:56
people on board that had done it before
1:58
or maybe that are helping you step
2:01
through all the processes and procedures
2:04
in order to deliver a product and that
2:06
isn't in fact in case you do it is very
2:10
tough to get your product into retail
2:12
it's very tough to
2:13
at an appointment with the buyer to show
2:16
him your invention showing her idea
2:17
because you can't just show them your
2:20
idea you actually have to have a product
2:23
bring it with you go and show the buyer
2:26
in retail form retail ready and say
2:29
here's my product you guys like it do
2:31
you think it's a good fit and that is
2:33
one of the tough parts of the invention
2:37
process and many times when an inventor
2:41
is experiencing those issues and those
2:45
setbacks and the questions and items
2:49
that you face when delivering your
2:51
product will retailer they look in to
2:54
see if there is an easier way and
2:56
licensing your product is that easier
3:00
way now the payoff is is much less I
3:03
don't want you to think that it is not a
3:06
good innominate if you license a product
3:09
that is fortunate enough to sell many
3:12
many pieces you Relation seeing is
3:15
awesome it's it's something that you can
3:17
live on you can get you can get a good
3:18
living from licensing products so we had
3:22
some great guests on the show that they
3:25
made a living licensing products it's
3:27
not easy and they made that point and
3:29
they really showed us that you have to
3:32
work at it licensing is a job and if you
3:35
want to do that job permanently you need
3:38
to constantly be licensed you have to
3:40
come up with good products and do that
3:42
so I'm license on we went through some
3:46
great guests we had some really good
3:47
guests on on the show that gave us
3:50
insight as to how the licensing industry
3:54
works what you need to get a license in
3:57
deal how to get a license deal what to
3:59
watch out for what to agree to what not
4:02
to agree to how to approach it we really
4:06
went through all the aspects of
4:07
licensing and my co-host mr. mangas
4:11
Jeffrey mangas is an expert in coaching
4:15
product developers inventors people who
4:20
have an idea he is an expert in coaching
4:23
them on the steps and procedures to get
4:26
your product licensed
4:27
and he does it in a way that you won't
4:30
go broke
4:31
you won't bet the house on it and you'll
4:34
do it in the way that you'll find out
4:35
pretty quickly if your product has some
4:37
legs and that's what's so great about
4:39
Jeff what Jeffery does in his product
4:42
USA coaching and that's product you
4:45
would say that comics want to go out to
4:47
Jeffrey's website he does it in such a
4:49
way that's very easy to understand very
4:52
easy to follow and when we had Jeffrey
4:55
on the Humana's launchpad show we
4:58
realized that he was really a great
5:01
resource in licensing industry and he
5:04
wanted to help inventors be successful
5:07
get your products out there make some
5:09
money from your ideas he is an inventor
5:11
himself he has licensed products himself
5:14
he's working on a book he's uh he is an
5:18
all-around great guy and he really knows
5:20
his stuff so it's not somebody that we
5:23
just grabbed out of the blue and said
5:25
hey you're a licensed expert now I mean
5:27
he lives his stuff he does it he teaches
5:29
that he coaches it and he makes a living
5:31
with products that he has license so
5:35
it's it's great to have somebody with
5:37
all-around experience like that on and
5:39
co-hosting the show with me so I just
5:43
wanted to do a quick recap through the
5:44
year we had some great guests on the
5:46
show when we started this show it was
5:49
kind of mid year maybe a little a little
5:52
at the beginning of the second quarter
5:54
of the year and we started the show
5:57
having some great guests and it's been a
5:59
lot of fun not only with the guests that
6:01
we had on the show but working with
6:04
Jeffrey himself who again is phenomenal
6:07
at teaching the correct sequence the
6:12
right correct processes of getting your
6:14
product market you know licensed get it
6:18
on the market and and that's what's been
6:20
so great about working with Jeff and I
6:22
can't wait to get him back on the show I
6:23
know he's looking forward to - coming
6:26
back being on the show and giving us his
6:28
feedback and his expertise one of the
6:31
one of the guests that we had on the
6:33
show is someone that we were really
6:35
struck in by because of his knowledge
6:38
his experience and his ability to help
6:41
license potential licensers and that was
6:46
Jay Buhner from bold IP he is an
6:50
intellectual property attorney who has
6:53
offices all around the country bold IP
6:56
comm and JV JD took us by surprise with
7:03
his knowledge and experience he's a
7:05
great guy he really wants to help out
7:08
inventors he loves the invention
7:09
industry and it seems it's such a great
7:12
job on our show that we reached out to
7:15
him this year in 2018 and we are going
7:18
to be starting an intellectual property
7:21
podcast with JD because he is so
7:25
knowledgeable so experienced he has the
7:27
reach to be able to help
7:29
almost anybody with their intellectual
7:31
property needs that I think he's a great
7:33
fit for a show such as this because we
7:38
had this idea to have an intellectual
7:40
property show for so long and we had
7:42
some great IP attorneys and they were
7:47
just super busy or they didn't want to
7:49
do the show or they didn't have that
7:51
outreach that JD has because JD covers
7:54
all spectrums of the intellectual
7:57
property circuit so wasn't sure why we
8:01
didn't have some of the other attorneys
8:02
on there all great JD just fit perfectly
8:05
into that puzzle piece with his
8:08
knowledge and his experience and he does
8:11
do it all it's one of those things you
8:12
hate saying it because if so it sounds
8:14
so cliche but JD is is the guy for this
8:18
show he's gonna be excellent he's gonna
8:20
be able to help everyone as we progress
8:24
with the shows so he was good to have on
8:27
the show he was one of the first guests
8:28
on the elections in jungle again we
8:30
loved having him on the show and and he
8:34
answered a lot of good questions so one
8:36
of the other people that we had on the
8:39
show who I just loved having him on I
8:40
think you had him as a guest a few times
8:42
was a Eric Huber who is not only a
8:47
United inventor Association board member
8:50
but he is like a serial licensing guy I
8:53
mean he makes
8:54
is living licensing products so having
8:58
him on a show was perfect
9:00
because he gave us the truth in and out
9:03
of licensing what you needed to do what
9:06
retailers are looking for what they
9:09
expect what they don't want you to say
9:11
what do you what you should say I mean
9:13
he's took a step by step through
9:15
licensing a product to retailers or to
9:20
other manufacturers you know you got to
9:22
remember that when you are looking to
9:24
license a product okay and you know
9:28
you'll learn this as you progress you
9:31
don't really have to go to some of the
9:34
big box stores I mean sometimes it's
9:36
good to go right to the horse's mouth as
9:38
they would say and say hey you know mr.
9:40
target buyer is this something you guys
9:43
would want to rebrand as a target
9:45
product or a Walgreens products or or
9:48
Walmart product because you know all of
9:50
the big-box stores have their own brands
9:54
they white label things so you can do
9:57
that one of the other things that is
10:00
great about looking to licenses you can
10:02
go to actual manufacturers and people
10:05
that are making products in the same
10:07
categories or maybe they don't have a
10:10
product in that category and they're
10:11
looking to break into that category so
10:14
if you have somebody who is currently
10:15
making you know say baby food
10:18
and you have this really cool baby
10:22
bottle that will hold food and it's
10:24
really cool and it worked great and it's
10:26
a it's a breakthrough in the industry
10:28
but this company never really thought
10:30
about making baby food bottles but you
10:34
bring him this and they say wow now that
10:37
is something that we would like to get
10:38
into they have they make baby food and
10:41
they've been making it for years so if
10:43
they're looking to not only increase
10:45
their their product line and bring in
10:49
more more more cash in that you know
10:51
increase their margins so by bringing in
10:54
other products they can do that and you
10:57
know so it's a good way to do that and
10:59
then you have people that are already
11:00
currently making say baby bottles and
11:02
they always need something new and
11:05
improved and you just happen to come to
11:07
them was something that helps add to
11:10
their product line you can license to
11:13
them so again it's when you're licensing
11:18
and these are things that Eric Huber
11:20
talked about a lot of the deaths that
11:21
were on the show and of course Jeffery
11:24
talks about is that you have a lot of
11:27
options when you're looking to license
11:30
your product you just need to do it in a
11:33
good sequence not spend all your
11:35
resources on one thing and be able to
11:38
move forward and give the information to
11:40
the people when they ask for it so if
11:43
you somehow
11:45
and luckily get in touch with the right
11:47
person at the right company that you're
11:49
looking to license a product and they
11:51
ask you to send them some more
11:53
information on it you need to be ready
11:55
to send them the information and we
11:57
talked about this on a several of the
11:58
shows you need to sell send them what I
12:01
call a sales sheet but in licensing and
12:04
maybe call something different but it
12:05
has to be and in from information type
12:08
sheet where it gives all the pertinent
12:11
information that is needed for a
12:15
licensing agent or someone who's gonna
12:18
license a product from you that answers
12:20
their questions you don't want them to
12:22
have to call you back with questions on
12:25
the product that product that sales
12:27
sheet should be able to give them all
12:29
the information now of course they're
12:30
gonna call you back they're gonna ask
12:32
you some questions
12:33
but that sale sheet has to be very
12:35
informative and there are very specific
12:38
pieces of information that need to be on
12:40
it and that's what a lot of times they
12:42
talked about on the different shows and
12:46
it was it was great because things that
12:48
even I didn't think about um I don't do
12:50
too much licensing we do a lot of
12:52
manufacturing here we go to retailers we
12:54
serve certainly help people license
12:56
products but it's not something that we
12:59
specialize in here in a minute Launchpad
13:01
but you know because of our reach our
13:04
knowledge and our shows and the people
13:06
that we have partnered with we have been
13:08
able to dive more into the licensing
13:13
industry so those are just a few of the
13:16
things that we learned from mr. Huber
13:18
Eric you were great guy to you
13:21
when you're talking to somebody and you
13:23
have them on a show and they're very
13:25
relaxed and they're joking and you see
13:27
that they're knowledgeable it's a lot of
13:29
fun to have people like that on the show
13:32
and we've been very luckily every one of
13:34
our guests that we've had on the show
13:35
and of course my co-host Jeffrey mangas
13:38
they are so knowledgeable that it makes
13:41
it easy to run a podcast or a show where
13:46
thousands of people all over the world
13:48
are going to be listening to it and it
13:51
makes my job easier because having these
13:54
people that are knowledgeable you don't
13:56
have to drag the correct information out
13:58
of them you don't have to do that
13:59
because they know what is needed to help
14:03
this invention industry the inventors
14:05
the products to help move the things
14:08
forward because they live it they do it
14:09
every day so being able to do that is
14:12
really helpful not only for the show but
14:15
for of course our listeners and and we
14:17
always appreciate the feedback the
14:19
emails the questions that are sent in
14:21
and I mentioned this a lot I'll do it
14:24
right now list please go out onto iTunes
14:26
or Google Play when you have a few
14:28
moments and leave us review leave us a
14:30
rating it really helps with the show's
14:33
ranking when people are looking for help
14:36
with their product with their ideas with
14:39
their inventions it helps us greatly
14:43
when somebody does a search you've heard
14:45
SEO and search engine optimizations but
14:48
with keyword searches within Google Play
14:51
and iTunes the ratings and rankings will
14:54
put our show up there within the first
14:56
page which will help people you know
14:58
find us easier and it'll get the
15:00
information that they need quicker so if
15:02
you could do that go out there and leave
15:04
us a rating a review be awesome for you
15:06
to do that so so many other people that
15:08
we had on the show talked about actual
15:12
products like we had Keith Lawrence who
15:14
was the actual and inventor who licensed
15:17
the products he I mean we have people on
15:19
the show that actually live it they do
15:20
it they're not just making it up I mean
15:23
they're done this before so he invented
15:26
a cool tool for fishing called the out
15:28
tool and I know it sounds crazy but it
15:32
basically
15:34
a fish's jaw so that you can take the
15:38
hook out but you know it's needed in
15:40
that particular industry and that's what
15:42
was so great about having mr. Lawrence
15:45
on is that it shows that your product
15:49
doesn't have to be some outrageous
15:52
product that is going to make the six
15:54
o'clock news and and be you know the
15:57
next you know pet rock or the next segue
16:02
it's it's great to know that you can
16:05
license just a regular product that
16:08
there's companies out there that are
16:10
looking to license products for specific
16:12
industries for specific target markets
16:15
and usages now a fish jaw spreader is
16:19
not some glamorous tool but if you're a
16:21
fisherman and you're going after a fish
16:23
that has sharp teeth that tool is
16:27
something that you will love and you're
16:28
gonna tell a lot of other people who are
16:30
you gonna tell you're going to tell
16:31
other fishermen that are in your
16:33
industry that are doing what you're
16:34
doing and they're gonna go out and buy
16:36
their product so again when I talk about
16:39
the specific target market is when you
16:42
go after a licensing a license II you
16:47
want to go to your right target market
16:49
you want to know who they are you're
16:50
going to want to do the research you
16:52
don't want to take something like Keith
16:54
Lawrence's you know fish draw spreader
16:57
and you're not gonna bring it to a big
16:59
company that sells a whole line of
17:02
fishing poles but they don't sell the
17:05
accessories we might want to show it to
17:07
them but it doesn't look like they're so
17:09
specific that you'll want to do that but
17:12
again doing the research will help you
17:14
find out who you should go after and not
17:18
waste your time with potential licensees
17:21
that really you know they're not going
17:25
to be a target market you might want to
17:27
practice with them you won't want to
17:28
give your pitch to them you might want
17:29
to send your information to them it
17:30
doesn't hurt but again if it's going to
17:34
cost you or cost resources or time being
17:38
able to narrow down your specific target
17:40
market is very very important and that's
17:42
those are things that you know jeffrey
17:44
mangas teaches in his product coach USA
17:48
courses and all of our guests on the
17:53
licensing jungle spoke about doing your
17:56
research knowing who your target market
17:58
is and going after those potential
18:01
licensees with the right information and
18:04
having an information when they asked
18:05
for it there's no way you're gonna know
18:07
everything but being able to give them
18:09
90% 85% of the information they need to
18:12
make a knowledgeable decision to look at
18:16
your product more or call you back or
18:18
send you an email asking for more
18:20
information it's very very good that you
18:23
can do that and that first that first
18:26
contact that first connection is so
18:28
important to complete and do it
18:30
correctly that that it is is very
18:34
important to know and listen to some of
18:37
these guests that were on the show some
18:40
of the other people that we had on the
18:41
show again
18:41
we had Warren Tuttle who now your
18:44
inventors association he is the
18:46
president of the United Association he
18:48
is actually also a licensed or he helps
18:53
a few companies that are looking for
18:56
products he helps them license those
18:59
products he is an all-around
19:03
knowledgeable guy within the inventor
19:06
industry and he gave some great
19:09
information
19:09
of not only going after companies and
19:13
how to do that and present your product
19:16
in a way that they will want to not only
19:18
look at it but license it but because he
19:22
actually licensed products himself he
19:25
gave some good good advice on what to
19:27
look for when you are negotiating
19:30
licensing agreements as the license or
19:34
so you know anytime you get a chance to
19:38
talk to mr. Tuttle I can guarantee you
19:42
that you're gonna learn something every
19:44
time I talk to Warren I do he's a great
19:47
guy as I said and if you get a chance to
19:51
hear mr. Tuttle speak at some of the
19:53
keynotes that he does around the country
19:55
or even around the world I know he flies
19:56
around the world to do some keynote
19:58
speeches but mostly in this country
20:01
please if you get a chance to listen to
20:03
him and ask him some questions you won't
20:05
be disappointed he is really a great guy
20:08
so and again as we progressed through
20:13
the year with licensing jungle I know
20:17
that we had some great guests on who
20:21
gave not not redundant information but
20:24
they gave different views or different
20:26
points of view on the licensing industry
20:30
and how it progresses you know we talked
20:34
about you know patents and if they're
20:36
needed we talked about prototypes and if
20:38
they're needed do you need to have a
20:40
working model do you have it have it
20:42
retail package like we went through the
20:45
design of a product to get it license do
20:48
you need to have it a working model or
20:50
can you just do an idea and we
20:52
step-by-step went through each thing and
20:54
if you are looking to license a product
20:58
I would encourage you to go back and
21:02
listen to the the shows like I said
21:07
Jeffrey mangas and his team are super
21:10
knowledgeable super educated in the
21:13
licensing industry but then the guests
21:15
that they had on just top that and gave
21:18
so much information that then you can
21:20
reach out to any of these guys and you
21:23
know you can go through Jeffrey you can
21:24
go through us here in Venice Launchpad
21:26
and we can get you the information you
21:28
need to help you move forward so you
21:32
know it's been a great year in 2017
21:33
we're looking forward to some awesome
21:36
shows we're already booking guests for
21:38
2018 if you have some questions if you
21:41
have some information or you'd like to
21:44
have a specific topic covered on any of
21:47
our shows on the Avengers Launchpad
21:49
Network please send them in go out to
21:51
Jimenez Launchpad comm send us a note go
21:54
on the Facebook pages I'm LinkedIn very
21:58
easy to access us go on out to I know
22:01
that Jeffery mangas has Facebook pages
22:05
inventor a licensing jungle on Facebook
22:09
LinkedIn you can catch them of course
22:11
Prada coach usa.com you
22:14
is very active in social media reach out
22:17
to one of us if you have some questions
22:19
some concerns some specific topics you'd
22:22
like to see covered and keep tuning in
22:24
because we're gonna have some great
22:25
guests we're gonna have some great
22:26
information and we appreciate you guys
22:28
as listeners as giving us information
22:30
and we just love the educational side of
22:35
the invention industry and we look
22:37
forward to seeing your products on the
22:38
store shelf I mean that's one of the
22:39
great parts about this we get a lot of
22:41
information from people who are making
22:43
it putting our putting products into
22:45
licensees hands they're getting out to
22:47
retail and they're sending us pictures
22:49
of their products on store shelves
22:51
they're sending us pictures of licensing
22:54
agreements of prototypes of patents and
22:56
it's a lot of fun to see the inventors
22:59
and the industry progressing so again
23:02
this is karma disco and my co-host
23:06
Jeffrey mangas before the licensing
23:09
jungle we appreciate you guys we
23:11
appreciate you listeners we'll look
23:14
forward to seeing you back here on our
23:15
next show and you take care

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