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Chicago 1 st Black Inventors and Entrepreneurs 2010 Conference Licensing Your Dream Warren Tuttle Monashee Marketing.

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Presentation on theme: "Chicago 1 st Black Inventors and Entrepreneurs 2010 Conference Licensing Your Dream Warren Tuttle Monashee Marketing."— Presentation transcript:

1 Chicago 1 st Black Inventors and Entrepreneurs 2010 Conference Licensing Your Dream Warren Tuttle Monashee Marketing

2 Warren Tuttle External Product Development Lifetime Brands President United Inventors Association Monashee Marketing

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4 Lifetime Brands - 30,000 products - 9 Divisions - 32 Brands including Farberware, Kitchen Aid, Cuisinart, Pedrini, Towle, Mikasa, Pfaltzgraf

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9 What is Licensing? Taking Your Product to Market Through Others Making a Royalty on Each Piece Sold Establishing a Fair Royalty Amount ($ or %) Exclusive versus Non-Exclusive Terms Annual Minimums Signing Advance Length of Licensing Agreement

10 Licensing versus Going Alone Same Development Process (idea, working prototype, patent search, marketplace vetting) What are Industry Standards and Nuances? What are Retailer Requirements for Single Item Vendors? What is Price Point of Product? What is Margin of Product? What are Costs Involved With Going Alone?

11 Going Alone Checklist Tooling Manufacturing Inventory Shipping Warehousing Disbursement Billing Collection Cash Flow

12 Licensing (Partial)Checklist Product That Solves a Problem Must Appeal to Enough Folks Working Prototype that Proves Function Patent Researched and Claims Identified Retail Marketplace Studied Industry Studied (Trade Shows, Magazines) Companies Studied (Google, Stores, Shows)

13 What Is Lifetime Brands Looking For? Functional and innovative new products that solve problems Working prototypes that prove function Patent research and filings…like most companies LB wants to license something tangible Rational person who understands industry and a fair licensing arrangement

14 How Lifetime Brands Helps Inventors Maximize Revenues Exposure and distribution to all of America’s leading retailers 32 brand names and custom product development to exploit retail relationships 40 person design and development department to add value to patents Fair licensing agreements Acknowledgement of inventors role

15 Summary…What Will Drive Your Decision Financial Resources Time Passion Consumer Feedback Industry Product Margin Personal Goals


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