How To License Your Big Idea
How To License Your Big IdeaDon Lindemann thinks his makeover for the plastic drink bottle could be a hit at the retail counter. Since late 2004, the Minneapolis-based packaging consultant has spent about $9,000 patenting and prototyping 17 different ways his multi-chamber bottles could hold combination packages, like a granola bar and soda pop, or an aspirin and spring water.
Licensing an idea and convincing someone else to pay to use it is big business. Royalty payments generated $115 billion for U.S. companies in 2002. But before you picture yourself rolling in royalties, take this reality check to the bank.
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posted by Victor Lloyd Smith @ 10:32 PM
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