This Course is developed in partnership with Stephen Key of inventRight, a leading expert on product licensing.
It introduces students to the tenets of modern entrepreneurship and provides them with a roadmap for taking action on their creative ideas. The course teaching Key's 10-step process bringing products to market with minimal risk.
Students will be expected to complete an applied assessment exercise centered on creating and validating a product idea by attempting to license it.
The course is delivered by Stephen Key, award-winning inventor, renowned intellectual property strategist, lifelong entrepreneur, author, speaker, and columnist.
The concepts that Key has brought to market have retailed in Walmart, 7-Eleven, and Disney stores and parks worldwide and been endorsed by Michael Jordan, Alex Trebek, and Taylor Swift. Key's 10-step process has been used in over 60 countries to license ideas for new products.
Key's book about licensing inventions, One Simple Idea, has been translated into six languages. He writes about bringing products to market weekly for websites including Forbes, Inc., and Entrepreneur.
Key's works with Universities and governmental organisations around the world to teach product licensing. In 2017, he cofounded Inventor Groups of America, which is dedicated to supporting the efforts of inventors associations across the United States.
Patent attorney Gene Quinn, founder of the popular intellectual property law blog IPWatchdog.com, will guest lecture throughout the course as well.
Not currently offered.
This Course was last offered in Semester 1 - 2019.
On successful completion of the course students will be able to:
1. Demonstrate a comprehensive understanding of the inventRight 10-step process to license an idea to market.
2. Conduct independent research into the market feasibility of a product concept for licensing.
3. Demonstrate knowledge of written and visual techniques to persuasively articulate ideas.
4. Develop a provisional patent application that clearly defines a unique invention, incorporating the theoretical skills developed within the course.
The Course covers the following critical pillars of bringing a product to market through licensing:
- Introduction to Open Innovation;
- The licensing business model, ideation, and design thinking;
- Researching the market, including searching for prior art;
- Inventing products people want;
- DIY prototyping;
- How to pitch your idea in one sentence;
- Designing effective marketing materials;
- Filing a provisional patent application;
- Identifying potential licensees (partners);
- Cold-calling tactics for the modern entrepreneur; and
- Negotiating a licensing agreement.
Quiz: Online weekly quizzes
Report: Market Research Proposal
Report: Marketing Campaign Design
Report: Provisional Patent Application