The Small-Town Inventor coffee table now on major retail platforms in North America

The inventor’s partner, Innovative, has been helping North American inventors turn their patent ideas into profitable businesses for more than thirty years. It is known for supporting inventors and guiding them through the entire process, from early-stage idea development and patent applications to later-stage production, distribution and marketing.

Innovative’s primary offerings include patent evaluation, patent searching, and intellectual property services (e.g., provisional patents, patent applications, and patent drawings). However, it is most distinguished by its licensing representation, which involves negotiating royalties or outright sales of ideas on behalf of inventors.

There are two ways that innovators can push an idea toward full market realization. The first method is the “do it yourself” approach, in which the inventor sets up his or her own company and markets the product himself. This includes acquiring their own manufacturing, distribution, shipping, promotion and sales. You have to commit full-time to handling the logistics of this, which often means quitting your day job.

The second method, licensing, is often referred to simply as “selling the idea.” It is not only less complicated, but also cheaper. According to Vince, this is why this is the preferred choice of most inventors. The progressive inventor of the Space Saver Coffee Table chose this route. They sought Innovative’s services as it handles high-stakes negotiations and secures lucrative deals for its clients with its decades of experience in pitching inventions to Fortune 500 companies.

Innovative’s continued success can be attributed to the systematic licensing process known as the Three P’s of Licensing™: Patent, Presentation and Promotion. Patenting is about securing the legal protection of the invention. This starts with applying for patent protection to obtain the patent-pending status, but can also include obtaining trademark protection.

The second step leads to maximizing the potential of the invention through visual presentations. Here, detailed drawings, prototypes and video demonstrations are created to highlight the features and benefits of the invention. This is an important part of the process because a strong presentation is needed to attract potential licensees and convince them of the market potential of the invention.

Promotion, the final step, focuses on sourcing and communicating with potential licensees. Innovative is preparing a database of at least twenty potential companies, including large and medium-sized manufacturers and distributors. It then contacts these potential licensees to promote the invention and negotiate royalty or licensing contracts.

This licensing process has allowed Innovative to help countless inventors, like the maker of the Space Saver Coffee Table, turn their patent ideas into lucrative businesses. “Working with us means we can leverage our existing relationships, infrastructure and expertise. We can help inventors get their product to major retailers like Walmart, Amazon, Home Depot and more,” says founder Vince Kehoe.

It is worth noting that Innovative is also known for its meticulous approach and systematic process. It reviews about 200 inventions every month, but focuses only on the most promising. This rigorous selection process helps the company ensure that it focuses its resources on ideas with the highest potential for success. Once an invention is selected, it applies the process of bringing the product to the attention of companies with the distribution channels and retailer access necessary to bring it to market.

For inventors hesitant to take that bold step toward developing their creations, Kehoe emphasizes that while new product development comes with uncertainties, making informed decisions early can increase the chances of success. “If I pitch an off-the-cuff idea to a big company and ask them for millions of dollars, I’m probably not going to get their attention,” he explains. “But with a patent, a polished presentation and a prototype, I can present professionally to companies making a big difference. Everything we do is designed to increase the chances of winning that deal.”

Ultimately, the Space Saver Coffee Table is a great example for all individual inventors thinking about pursuing their unique invention. While every invention is different, the process of bringing the invention to market is the same, and there are clear methodologies to follow that will increase the likelihood of success.