To sell an idea for a new product to a company is a faster, low risk, and cost-effective way of getting it to become a commercial reality.
The right company with have the necessary resources and capabilities to complete the development program and to manufacture and sell it to their existing and or new customers.
The process results in a licensing agreement that delivers royalties and other benefits. However, to achieve this requires inventors/entrepreneurs to make an initial investment to prove and present the product is a feasible and attractive proposition.
Design Tower has the business and design consulting expertise to help you get a good license agreement.
An advance ‘pay-to-play’ payment.
Minimal payments regardless of sales achieved.
Licensee pays for future Intellectual Property costs and other related legal fees.
Bonuses from achieving or exceeding sales targets.
Consulting fees plus expenses for future development, marketing, and sales activities.