In this episode bestselling author Stephen Key reveals his insights on his book, Sell Your Ideas With or Without a Patent, where he shares his secrets to making profits of product ideas.
In his book Key reveals many stories, tactics, and tips on how to effectively protect an invention idea in order to earn royalties from it in the future. The goal of the book is to teach you how to fill out a patent application for the USPTO, save large amounts of money on the legal expenses that come with patenting, find an excellent patent attorney, and win over a licensing contract.
This book is perfect for entrepreneurs who have innovative mindsets and want to know the inside secrets of making money off new inventions with or without patents.
The Book’s Unique Quality (4:34)
A book like this has never been written anywhere, ever because it’s from the business perspective, not the legal perspective.
The Best Way To Engage (7:32)
This book is written in such a way that if you have a simple idea you can read a few chapters and be ready to start immediately. And then I go in from a different perspective if you have a big idea and show you what exactly you need to do.
The Reader’s Takeaway (12:11)
You can do this and do it with confidence!
A Deep Dive Into The Book (9:11)
This book is for the listeners that have ideas but not sure what to do with it in fear that someone else might take it. If you dig into this book you will learn to understand how to use the tools provided and they are very inexpensive but you’ll learn how to write this information down that has value in that perceived ownership. This book is written in such a way that it gives you ownership.
You will find throughout this book that it is a very technical book but it’s very easy to read and understand. I took a topic that was complicated and
I brought it down to a level that anybody can understand and be able to use these tools that are provided for us. So this book strips away the fear, it shows you how to take a small idea for $65 and have that perceived ownership. It talks about how to structure a licensing agreement even if you don’t have any ownership. It’s time for us to take advantage of our size, to be quick, to be small, to be smart, and take these tools that the USPTO provide anyone in the world, to play the largest game in the world. But you have to understand how to leverage those tools and that’s why this book is very different.
NOTE: That was just a summary. To get the full deep dive, play the audio clip at 09:11
Notable Quotes From The Book (12:45)
“There is no such thing as ownership, it’s only perceived ownership.” – Stephen Key
The Credibility/Inspiration Of The Author (1:21)
I have been bringing my simple ideas to market and collecting royalties for each and every one that is sold. I am here to show you how to save money and protect those ideas when you bring them to market.
A few years ago I was in federal court suing a small toy company Legos which took three years and through that whole process I realized that we never really own anything, even if we have patents. We have this fear that we have to have patents to go forward with our ideas and that’s just not true. This book was written from a business perspective about how to take our ideas, bring them to market, and use the tools from the USPTO to our advantage.
Other Books Recommended By The Author (13:47)
The Obstacle Is The Way by Ryan Holiday