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hi everybody and welcome to another
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edition of inventors launch pad roadmap
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to success i am your host carmine
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danisco and today i wanted to cover a
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subject that kind of occurs around a lot
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of the major sporting events here at the
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launch pad and probably around it around
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the country at other product development
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houses we filled a lot of questions
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about licensing products to major league
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teams to be specific the NFL or some of
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the actual specific teams within the NFL
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and again major sports things so I
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wanted to bring my partner Rick
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valderrama on who handles a lot of this
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type of questions a lot of the business
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sides of it he has actually licensed
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products and he's been the license or of
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products so he can answer some questions
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and really try to sign a spotlight on
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the high level of what's happening I
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don't think he's gonna be able to go too
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deep with you out of time we have but
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let's bring them on and see what he has
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to say hey Ricky over there therefore
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how you drunk are mark richt I'm doing
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good man thanks for coming on the show I
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know that you're going to be a frequent
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guest on our show and I appreciate you
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jumping on real quick I had some
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questions that came over the line about
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licensing and I want to bring on and do
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that just to let the the listeners know
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that we are recording just before the
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Super Bowl and not to date the podcast
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but that's one just came up Rick if you
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can just give a quick intro and
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basically just again a quick little bit
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of what you do let him in as launch pad
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so my name is Rick's all drama I work
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getting rid of launch pad and I am ahead
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applies development as carmine spoke I
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do handle most of engagement with new
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clients as they come in and we do get
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that question a lot about how do they
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how to clients have access to placing a
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sports team logo on their product they
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could have a good product that they feel
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that you know with the right license
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they can be very
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successful and really I can get them to
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the next level you know as most people
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know the NFL is the the big dog the AFL
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if the general rule of thumb is if you
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get approved as a NFL vendor you will be
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approved for the NBA NHL NASCAR and NC
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double-a pretty easily they are of the
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the strictest least they do have the
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strongest requirements and the most
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chomping oh ok and I believe it NFL is
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probably huge I mean if you get a
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product onto the NFL or major team it's
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probably build will be grow your company
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at the National they have a product and
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I want it and I want to get it it's a
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perfect product for football or for a
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college team or major league team what
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do i do I just go to the team and I say
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hey I got this product and then what do
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they do they allow a day license it from
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me or they allow me to show them how
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does it work really if I have a product
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so the NFL I'm going to stick with
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talking about the NFL's beginning they
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are the strictest league they have very
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stringent requirements they they do not
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use middlemen they require you to be a
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manufacturer they require you to have
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manufactures your product for three
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years before even applying and in most
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cases but sorry I cut you off three
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years I have to be manufacturing a
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product first we have to be the face
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that's right wow that's right that's
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right okay okay that would get the prize
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so yes I guess its manufacture for three
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years you have to show consistent
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products they are very stringent on
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every color code when when you are
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putting the Dolphins logo on a product
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the orange better be the right orange
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and the white better be the right white
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with no variation of it or you will lose
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your contact a typically the easiest way
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the easiest way to enter a NFL license
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agreement is to go to a manufacturer
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that's already owns a license someone
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who's already selling in your category
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if they're so
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in the category they could easily add
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your product to their suite of products
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and then have the channel to put into
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the stores to get your product of the
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most you know and the NFL is doing a
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good job of actually consolidating a lot
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of their manufacture fish or vendors for
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different categories so typically
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there's only going to be five maybe ten
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vendors even licensing you know certain
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products so it's apparel if it's house
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goods if its luggage whatever it may be
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you're only going to find five to ten
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companies in the world that are actually
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able to manufacture the product so we
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recommend the clients to find the
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company that's already manufacturing a
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product engage them and then get the
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license deal although it's still
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difficult it's much easier than going
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directly to the NFL the requirements are
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just too too great for a small company
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should 50 inventors okay so so again
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it's I didn't realize that it was this
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this intricate so what you're saying is
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if if I had a product and I did end up
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getting a licensing agreement with the
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nsl I wouldn't be able to manufacture it
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myself is what it sounds like because it
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has to be such a stringent rules and
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regulations and then also it sounded
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like what you said is there's different
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categories or the different
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manufacturers for a specific license so
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if i had a product for a hat it would be
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different license if I had a product for
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luggage say yeah in most cases yes I
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mean if you are the manufacturer all
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these products and you have been
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existence for three to five years then
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you have the financial capacity to to
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meet the stringent requirements of the
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NFL then you can go ahead and do that
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but if you do have three or four
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different categories of products like
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you said a hat or a jacket you would
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typically going to have to find two
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different companies that are already
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showing those types of products through
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the NFL license and license to them and
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then once you like to them they will
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send it out to their channels and sell
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it out now the NFL is unique here the
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n-c-double-a is one specifically that
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you can go and go directly to the
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University if you
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are interested in doing the you know and
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Alabama or university shop forward or
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anything like that you can go to the
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University and sauna license agreement
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directly with them giving you the
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permission to put their brand on your on
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your product and that's for one product
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and that's for one University that does
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not give you the right to give use it
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for the entire incident of away but it
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does give you for that one University
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that's a possibility now you know how
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much in fact that's going to be done it
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really depends on you but that's the
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unique thing about the n-c-double-a
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however if you do focus on the NFL once
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you do get the NFL licensed through a
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another manufacturer directly with the
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NFL that does open the gateway to every
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other sports venue Wow so the NFL is
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huge but I like the part where you
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talked about the NC double-a so if I
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live next to say a few colleges or if I
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had friends that were going to college
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it might make it easier to get it into
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one or two colleges just to test the
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market test itself unless I am you know
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I went to a school and I just want to
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sell for that certain college so it
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sounds like the NC model a is a little
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bit easier but it sounds like a lot of
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work to go to each college if I had to
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yeah it does it does but again you know
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products are some products are so
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significant that it could be for college
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you know population I know that we here
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at the launchpad have a few products
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that we're looking at colleges and NC
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double-a in that sense and I know that
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that you are working on several licenses
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and you have the ends at the NFL and
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some of those different different you
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know projects and soccer and I'm
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immediately baseball in that sense
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what's kind of timeline they say all of
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this take care and you know we had magic
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wand and we've got through all of these
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things and even after you know again
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what kind of time want to not only get
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that like an agreement signed but then
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to get that product going is is there a
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specific that you that you can think of
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this for allowed yeah now I can go fix
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much 18 months no problem they can go
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with this lot of variables and
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negotiation directly for license
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agreements one part and then getting
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your product us you know perfect to the
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end
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fell requirement you know there's all
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these variation is all a lot of back and
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forth if you get approved by the NBA NFL
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whichever whichever league is doing that
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your product once it's printed and it
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looks good it has to get approved not
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only by the NFL but by the team so
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there's some specifics there that make
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it a little challenging now the one good
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thing that I do want to make sure I
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state before we go on this call is the
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the beautiful thing about the license
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agreement specifically for inventors is
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that if you have a product that's unique
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and that product is then license to the
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NFL they only hold the NFL license in
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the sports team license you could still
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sell it without the logo on your own and
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if you don't pay them anything you don't
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pay them a royalty sure you get the
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benefit of having a name recognition via
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your the team logo out there but she'll
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it as a blank or show it with another
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brand on it when you go out to the
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retailer so if you're it was currently
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being sold at walmart at target with the
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NFL logos you could sell your own
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product out there with your own logos
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and it doesn't affect that license room
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at all wow that's a that's actually a
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pretty good piece of information because
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most licensing contracts even ones that
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we work on records I mean it's it pretty
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much covers all sales so right you're
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working on that NFL where she would be
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huge if you get an NFL you know like me
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agreement it's going to bring so many
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eyeballs on to your products and being
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able to sell it out into retail I'm not
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kinda that's kind of like double dipping
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which is a great idea well no I mean you
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know again the NFL as you said any kind
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of mingling sports team you're going to
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put thousands of people are going to
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maybe buy your products and then people
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are going to see it and being able to
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licensure or sell your product to retail
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is really important now if I had a
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product and I license it to the NFL or
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to ask Rita sports team am i able to
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still sell it with logos on it and say
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hey I tried to get it on HSN or try to
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get in on a TV shopping channel am i
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able to sell it on my own with those
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logos
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that's going to be dependent on your
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license agreement typically you can but
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you would just be a vendor of your own
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product you would have to buy them from
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the company that owns your license okay
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all right that makes sense all right
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cool well it's a man I know that that
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yours you're low on time there is there
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a couple quick tips that's if somebody
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was looking to get a product license
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they had an idea or even if they haven't
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even made their product yet they have an
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idea or they made their prototyping or
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thinking about it where they have a
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product and they think it's perfect for
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a major sports team or ngwa just letting
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you a couple quick tips on what they
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should do for their next step as in any
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product they should test the market I
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mean it no matter whose life in your
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product whether it's a manufacturer
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outside of the the NFL or sports or as a
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sports a company that's its licensing
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your product they're going to want to
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show fail they want to see some numbers
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they want it before they invest time and
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energy on a product they want to be
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assured that it's going to make some
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money so what I would tell anybody is
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that you try to sell it in your own you
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get some performance reports done you
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get some analytics you you get a break
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down as to what they could they could
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see in the future as far as how much
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cost per unit cost how much you could
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sell it for work and and what kind of
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momentum you could have if they were to
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put some logos on it if you have that
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information it's going to make that
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conversation but go much easier ya know
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that makes sense i mean basically for
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everything for retail and they mean so
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that's kind of a business side of things
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so and i know that you helped any of
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those benefits or people with products
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with that all right Rick would so listen
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thank you very much for being on the
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show I do want to tell anyone that's
12:50
listening if you have a question for
12:52
Rick you can get him on the inventors
12:55
Launchpad website that's inventors
12:58
launch pad com he also maintained the
13:00
largest inventor group on LinkedIn
13:04
inventors launch pad it is called and to
13:07
go ahead and join that group you can ask
13:08
some questions on their we're also on
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facebook but go ahead and reach out with
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any questions you have and i guarantee
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that we will get back to you and thanks
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for listening and then we'll talk to you
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soon
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all right bye-bye