Guide How To Sell Your Idea For Huge Royalties
Sample Agreement To Review Your Idea
Here is a way to sell your ideas to cash-in if they are unique because some big company just may be willing to pay big bucks for them.
This report explains how to protect your ideas to make sure you get pad for them.
Your saleable ideas can be something tangible or intangible.
Ideas include such things as mechanical things, chemical compounds, designs, works of art, advertising and business plans, ideas for improving a design, flavor, etc. of an existing product or service.
Many thousands of dollars are paid out to “idea people” each year by industries.
If your idea will increase production; increase sales or; improve the product; they will be willing to pay substantial money for it.
First, you must know how to “protect” the ideas you generate.
Ideas that are made public by word of mouth or even in writing become public property unless you first make an agreement to retain all right to your ideas.
Let’s say you have an idea for increasing the sales of an existing product for company A.
Write them a letter similar to this one in duplicate:
I have developed a new idea for increasing the sales of your product.
This new method will not increase your costs in any manner.
If you are interested in full details, I will forward them to you upon receipt of the signed agreement below:
SAMPLE AGREEMENT TO REVIEW IDEA
We the undersigned agree to receive in confidence full details about an idea for increasing the sale of Widgets as submitted by (your name).
It is further understood that we assume no responsibility whatever with respect to features, which can be demonstrated to be already known to us.
We also agree not to divulge any details of the idea submitted without permission of (your name) or to make use of any feature or information of which (your name) is the originator without payment of compensation to be fixed by negotiation with (your name) or his lawful representative.
It is specifically understood that in receiving the idea of (your name) it will be reviewed in confidence and within a 30 day period we will report to (your name) the results of our findings and will advise whether or not we are interested in negotiating for the purchase of rights to use said idea.
Have the company sign both copies and return one to you.
Then, you must submit complete details of your idea to the company.
After it reviews your idea, it must by law follow the instructions of the agreement.
Many “idea people” are earning substantial money following this procedure.
The sky is the limit, but make darn sure that you get the agreement signed prior to disclosing your idea.
Otherwise, no go!
To increase chances of having ideas accepted, spend lots of time preparing complete, minute details before you submit them.
This the key!
Include illustrations or drawings if needed to get the story over.
Be sure to copyright your illustrations and drawings prior to submitting them.
Image By Elena Buzmakova Borisova