IFIA and inventRight Project
Empower Inventors with the knowledge, guidance, and assistance they need to license their ideas
inventRight holds the conviction that not everyone has the experience, time, money, or even desire to start a business.
There is an alternative which is licensing. You do not have to write a business plan, source manufacturing, develop a marketing strategy, spend money on advertising, or find distribution.
With licensing, you can simply ‘rent’ your idea to a company and receive royalties in return. In other words, create a flow of passive income!inventRight is cofounded by Stephen Key, award-winning inventor and renowned intellectual property strategist, and Andrew Krauss, longtime inventor advocate, and industry leader. After bringing dozens of his own concepts to market, Key partnered with Krauss to teach others his uniquely effective strategies. Together, they have helped people from more than 40 countries license their product ideas since 2001.
Key is the author of the bestselling book about licensing One Simple Idea, which has been translated into six languages. He contributes to Entrepreneur, Inc., and the design website Core77, lectures about licensing as a business model at universities and governmental organizations around the world, and publishes videos weekly on his YouTube channel inventRight TV.
inventRight mission is simple: To help inventors license their ideas.
For the past 20+ years, we’ve been helping inventors bring their ideas to market. We love teaching creative people how to profit from their ingenuity through licensing, including how to find companies that will want to license their ideas, how to protect their ownership of said ideas, and how to negotiate the best licensing deals possible. When you become our student, we coach you every step of the way.
We partnered together to create a one-on-one coaching program because we firmly believe that inventors need to be in charge of their own destiny. We’re all about education because our goal is to empower our students to continue licensing their invention ideas for years to come after they graduate from our coaching program. We are not middlemen, nor an invention submission company. The royalties you earn when you become our student stay 100 percent your own.
The old ‘patent-and-prototype’ method is just that: Old. But even more importantly, it’s simply not effective — and frankly, it never has been. Our strategies are different. We want you to think strategically about intellectual property, not file patents out of fear. We want to prevent you from spending too much of your hard-earned money on a prototype upfront before you’ve really tested the market. At every turn on your way to score a licensing deal, we show you how to reduce risk.