In this episode of Negotiation in Real Life, I speak with Stephen Key. Stephen is considered one of the world’s leading experts on product licensing and intellectual property strategy from a business perspective.
In 2000, he cofounded inventRight. inventRight’s mission is to teach inventors how to commercialize their inventions. Inventors from more than 65 countries have studied his strategies.
Stephen is the named inventor on more than 20 U.S. patents. He is also a frequent guest on topics related to innovation and licensing on podcasts, radio, and television and has appeared on MSNBC, ABC’s Money Matters, The Big Idea with Donny Deutsch, and as a guest expert on the Dr Phil Show. On his YouTube channel, inventRightTV, he has published more than 900 videos about how to commercialise an invention.
Stephen has published more than 1,000 articles for websites including Forbes, Inc., Entrepreneur, Core77, and AllBusiness. His work has also appeared in TIME, The New York Times, Fast Company, Business Insider, IPWatchdog, and many other places.
He has written five books about innovation. His best-selling book One Simple Idea from McGraw-Hill has been translated in five other languages.
Stephen has won over 20 industry awards, including two Edison Awards and the Most Influential and Inspiring Leader Of All Time by the WorldIP Forum in 2022. In 2020, he became a founding member of the United States Intellectual Property Alliance. In 2022, Stephen contributed to “Cases in IP Strategy: Industry Lessons Learned” from the non-profit Michelson Institute for IP.
Currently, he’s part of the team responsible for launching a new sustainable packaging innovation that replaces the need to use plastic to carry beverages, called Fishbone.
In our discussion today, we speak about …
- the importance of preparation in negotiations with power imbalances
- key considerations for negotiating a licensing agreement
- dealing with requests for exclusivity
- common mistakes made in licensing deals
- building momentum by starting with the easy stuff first
- the power of renegotiating when things go wrong
… and much much more.
Connect with Stephen Key
YouTube: https://www.youtube.com/results?search_query=inventright+tv
LinkedIn: https://www.linkedin.com/in/stephenmkey/
Facebook: https://www.facebook.com/stephenmkey
Twitter: https://twitter.com/stephenkeymedia
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