Turning a patented idea into a successful product is a dream for many. However, seeing an idea through to licensing, manufacturing and distribution is a complicated process. As the founder of Inventors’ Publishing & Research (IP&R), a product development and invention licensing firm, I have interviewed thousands of patent holders.
Top ten reasons they fail:

1. Incomplete Research.  Good market research for patent holders includes an assessment of the market size, examination of industry trends, analysis of the competition, feedback from the channel (frequently retail), and identification of the target market. Although retailers rarely license product patents, their endorsement makes it much easier to license them to manufacturers.

2. Misunderstanding the Patent Process.  A patent is only a legal right to prevent or exclude others from making, using, selling, offering to sell or importing the claimed invention. A product must be licensed, manufactured, made available to the public and purchased by the consumer before an inventor sees any money...

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