You can get a head start by generally using the percentage figures I've outlined above. You will have to get accurate costs put together, though, if you are to be a credible presenter. For more general recommendations on how to license your inventions refer to The Inventor's Desktop Companion by Richard Levy. Richard has licensed more than 80 products, including the popular game, Adverteasing . The Sale of The Products By selling your products yourself, you could possibly earn the profits shown in the above scenario yourself.
Some experts say that the licensing of a patent is lower risk than trying to sell a product.
I agree that you will probably lose less if the product flops, but I contend that a higher number of products get sold if the inventor takes the product to market themselves than the number of products which are successfully licensed. And since you have inventory, there is always an intrinsic value to your patent and product, even if it is to a discount wholesaler who will pay you a nominal fee. Merrick Industries manufactures and sells a variety of products covered by Bob's patents. But before you approach a partner you hope will help come up with the required investment, you will still have to work through every number we went through in the first scenario. Here are a few suggestions.