8 Ways to Find Companies to License your Invention Ideas to

by Tara

So you have been doing some research on a niche and have come up with a potentially new invention idea, or you have and invention idea based on a problem you have encountered. At some point either during your research or at the point when you have everything ready including your sell sheet you need a list of companies who you feel might be interested in licensing your idea. Below are 8 ways of finding potential licensing contacts.

1. Check the Labels in the Shops Online and Off

One method of finding potential licensees is to simply find similar products in the shops and to take notes from the labels to see who makes the products. Quite often the labels will also tell you the web address of the company for further research. This is a method advocated by successful inventors Roger Brown and Stephen Key. You can also search online shops to see who make products in your niche.

2. Use sites like Alibaba

Use sites like Alibaba to search for manufacturers of similar products to your invention idea. You can choose which country you want to look for manufacturers in too. I wouldn’t suggest signing up with Alibaba, but just using it to do searches on company names and addresses and websites for example in the US and Europe.

3. Associations for your Niche

Find out if their is an association for your niche (google it) and then look through the list of members to find potential suitable companies.

4. Magazines

Buy a magazine related to your niche and see what companies are advertising similar products to yours.

5. Trade Exhibitions

If you go to a trade exhibition you can collect company details for potential licencees, but even if don’t many will list their exhibitors on their website with some basic details about them.

Use these sites to help search for trade exhibitions
http://www.exhibitions.co.uk/find-an-event
http://www.tsnn.com/
http://www.eventseye.com/fairs/trade-shows-by-keywords.html

6. Google

Once you have found company names using the methods above, you can drill down further to find out actual contact names of people at the companies. For example take your company name, and then in Google search Marketing Manager, Company Name. Try other search variations too like Sales Manager, Company Name. With any luck this will give you the appropriate names you need, so when you cold call the company you know who to ask for by name. Quite often when you search in google the results you find will be part of LinkedIn or similar sites like Jigsaw which hold business details.

Another thing you can also do once you have a contact name is google the name and company and sometimes you will be lucky enough to find a direct telephone number or email address too.

7. LinkedIn

LinkedIn is great for finding company contact details and also for additional research. You can search through using either the people or company search. LinkedIn also has a huge range of groups which may be applicable to your niche. Try joining some of the groups for your invention niche (some groups are easier to join than others). Look through conversations in the discussions, and see if there are any people or companies that would make useful contacts. You can also post enquiries and ask for suggestions in the discussion groups regarding your invention idea.

Linked in also has several invention groups which are again useful for asking in the discussion groups suitable companies who are open to invention ideas in your niche.

8. List of Inventor Friendly companies

There are various places you can find lists of inventor friendly companies. Make sure you double check the terms and conditions of all the companies as some insist on patented inventions.

More suggestions from Readers and Twitter Followers

http://gb.kompass.com/ a company directory where you can search by type and location – suggested by @baplig http://www.businessandpatents.org who also have their own searchable databases if you are anywhere near Leeds UK

What ways have you found licensing contacts? Share your views below in the comments

{ 8 comments… read them below or add one }

Sandi - GizmoSandi June 13, 2011 at 6:49 pm

Great tips! Thanks also for links to the various resources. This is going to be a huge asset for me!

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Tara June 13, 2011 at 7:00 pm

Thanks Sandi – If you find any other good resources let me know and I will add them to the post
Cheers
Tara

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Imants June 13, 2011 at 7:31 pm

Great, but recommending Alibaba? Are you sure you want spam mails for years? IMHO it’s a copycat paradise as well..

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Tara June 13, 2011 at 7:51 pm

Hi Imants, I only meant for looking through to see who makes the type of product you are trying to license. You can narrow your search so its just US or Europe too. I wouldn’t go through the site, just use it to find company names, I probably should make that clearer.

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Imants June 14, 2011 at 9:13 pm

ok, but don’t register, just my 2 cents.. ;)

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Tara June 15, 2011 at 9:06 am

Noted :) have added in a note to the post too – thanks Imants

Reply

Teri June 13, 2011 at 9:53 pm

Thanks! I hope to need this information in the near future!

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Tara June 14, 2011 at 7:33 am

Hi Teri, I am sure you will and if you find any other good ways of making contacts please let me know and I will add them to the list.

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