Ever wonder how to license a product? Well, Jim DeBetta has some fabulous answers to help guide YOU!
Today on the Social Scene we get inspired by the fabulous Founder of DeBetta Enterprises, Jim DeBetta. Based out of Atlanta, Jim has clientele worldwide that he helps get into retailers and helps them ofcourse with our topic today.. when to know if you should license your product.
Before determining if you should license your product Jim tells us that it is important to do you research to see whether the product exists already or not.
"Even though a store like Walmart and or Target might not have it listed, that doesn't mean someone didn't have the idea already and got a patent for it!"
On the Social Scene Jim gives some insight on how you can find ways to figure out if your product idea has receieved a patent already. You can do this with either a patent lawyer, website like legal zoom and or the US Patent website search!
Once you figure out the background to see if your product idea is already on the market, then it is great to come in to Jim and take the future steps regarding licensing the product.
Licensing and patenting your idea is KEY especially if you decide that you want to have other retailers and businesses sell your product. Jim explains licensing as a "lease". Once you have your product patented it allows you to have businesses and retailers sell your product without having full ownership of your idea. Having a license allows the retailers to sell your product and take a percentage of the sale, but YOU still having full ownership! No one can take your exact idea when it is patented . This is why it is important to listen to Jim's insight if you decide this is a path you want to take!
Jim continues to share with us rewarding stories of clients he has worked with, his beginning experiences in the product world and more.
Jim truly has to much fabulous information and insight to share, I highly recommend working with Jim if you have any questions
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Today this show was brought to you by :
#GETSCENE Magazine launching April 2016 ( You can find Jim as a contributor)
Also, click on Kinnectpay for featured blog post on Jim!
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