The Insider Licensing Program is exclusive to our Insider members with patented or patent-pending ideas.
How it works:
If you have an idea that’s patented or patent-pending and you would like our Licensing team to pursue licensing opportunities on your behalf, submit it to this program.
The Insider Licensing Program (ILP) works a bit differently from Edison Nation’s traditional innovation searches. Instead of having eight stages of review, the ILP has four.
Here is a quick explanation of each stage:
Stage #1: Preliminary Review. Our team will perform a preliminary review to ensure your invention meets the program criteria. Factors that might keep your idea from moving forward include: your invention is too cost-prohibitive, has engineering challenges and/or major players in the marketplace have already launched products similar to yours. If none of these apply, your idea will be approved and move on to the preparation phase.
Stage #2: Preparation. At this time, we perform a best partner review. We take inventory of our retail and manufacturing contacts and begin to map out just who should learn more about your idea. We conduct a gap analysis and visit the store shelves to understand the market and to get an understanding as to where your idea fits.
Stage #3: Pitching. At this phase, your idea is now a “Finalist” and our team begins to proactively pitch your idea. The team is on the phone, on email and using our proprietary presentation system to get the attention of the industry’s best. When a company expresses interest, we move into term sheets and negotiations. We stay in constant contact with the prospect until we negotiate the best possible deal for you.
Stage #4: Outcome. In the end, the market decides what products will be successful. There are no guarantees. When the deal is signed, you’ll be the first to know. If for some reason we are not successful in finding a licensing partner, we’ll let you know why. What we can guarantee is that we’re working hard for you and appreciate your trust and patience.
How long does it take?
Licensing is all about timing, patience and contacts. Unfortunately, there’s no set timeline when it comes to licensing products, we are often at the mercy of our partners. Once you submit your idea into the system, what we can and will do is work to keep your idea moving through the process. Remember, inventing is a marathon, not a sprint and arriving at a licensing deal can take two months or two years.
How can you check in?
We’ll keep you posted of the progress through updates found on your Dashboard and within Your submissions. You’ll notice your ILP submission has a four-stage progress bar reflecting the stages outlined above. For all ideas that reach Stage 3, the Dashboard will also feature periodic progress updates as well as additional data tracking the amount of prospects, how many are considering the idea and their level of interest.
We have the tools, the professionals, the resources and the contacts to generate commercial interest in your idea. Our team will position your product in the best possible light, and will be diligent in their efforts to get your product in front of the right people.
Due to the public nature of licensing, we only accept ideas from Insiders that are patented or patent-pending. A valid provisional patent application will suffice. It is $100 to submit an idea to the Insider Licensing Program, and you must be an Insider to be considered.
Curious about those Insiders who’ve gone before?
Want to submit your patented or patent-pending idea, but you're not an Insider yet? Click here to learn more!
If you have questions about the Insider Licensing Program, be sure to check out our FAQ.
Your idea must be patented or patent-pending (even a provisional patent application qualifies)
You must be an Insider. What does it mean to be an Insider member?
- Your ideas save you money. Submit ideas for just $20 each and opt them into current or future searches for free.
- Feedback at all stages. We’ll offer feedback on your idea if it’s not selected to move forward at any stage in the review.
- Insider Licensing Program. We’ll work to license your patented or patent-pending ideas.
- All-access pass to Room 5. Get the “inside scoop” on what’s really going on behind Edison Nation’s walls in weekly editions of Room 5.
- Insider points. Earn reward points for each stage your idea passes, and use these points for free submissions, and more.
- Review priority. Your ideas are reviewed ahead of the rest.
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