The term “Open Innovation” means different things to different people. For some, enlisting independent inventors in the search for product innovation means a fresh new outlook…more eyes and ears on industry trends and consumer desires…and great and plentiful opportunities. But for others, the thought of working with “outsiders” is an invitation for headaches.
No matter what your take on “Open Innovation”, InventionHome can assist you in many key areas, such as…
1. Finding Product Opportunities.
a. Our Hotlinks Service – InventionHome represents thousands of inventors and entrepreneurs from around the globe and we have a constant stream of new product inventions flowing into our company that we are able to share with you (via our “HotLinks service). We are careful to share only products that fit your category/criteria. Furthermore, we also maintain a very broad reach into the inventor communities through our networks, affiliations and partners and we possess our own direct distribution network of 200,000+ inventors and entrepreneurs.
b. Product Hunts – Did you know…we can go beyond HotLinks to do custom searches to tap into the market and our networks targeted to your needs? Let us know if you are interested in learning more.
2. Due Diligence
Many of you are receiving HotLinks, but just haven’t yet found a product invention that’s right for your company. When you DO, just give us a call or email us with any questions that you have. Our marketing team will gather additional information from the inventor to assist you with your review, while also providing a “buffer” between your company and our client. Some companies prefer to remain ‘anonymous’ to the inventor and we can oblige…right up to the point of contract negotiation if you so desire.
3. Contract Negotiations
For many companies who are new to the concept of “Open Innovation”, navigating the licensing process may seem daunting. Not so, when you’re working with InventionHome. With the help of our lawyers, we’ve worked hard to develop a license agreement template that addresses concerns both of companies and inventors to provide a “win-win”. We recognize that each new agreement comes with a unique set of variables, and we’ll work hard to customize an agreement that will meet the approval of both Licensee and Licensor.
Next time you see a HotLink item that interests you (even just a little bit), let us know about it so we can go to work for you!