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How to License Your New Product Idea

October 6, 2020


Just as most nascent entrepreneurs think that banks are the only way to fund their startups, most entrepreneurs with a new product idea also think they have to develop a manufacturing and distribution company for their invention. For most inventors with a new product idea, they are far better to license their new product idea to a manufacturer than to raise the capital to manufacture and distribute the product on their own.

The skills and mindset that make them successful as an inventor often conflict with their success as an entrepreneur. In most cases, unless they know how to raise serious money, the majority of new product ideas will never see the light of day.

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