Month: November 2013

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For Inventors: How to Monetize Inventions (Financial Arrangements)

This article first appeared on IPWatchdog.com on November 9, 2013.

inventorAs any viewer of “Shark Tank” can attest, the variety of financial arrangements which are negotiated between inventor entrepreneurs and investors is broad. A final agreement is always the result of negotiation between the two parties. Unfortunately, many inventors go into the gunfight with a knife, so to speak, over-matched and under-prepared.

Unless you are a veteran of previous negotiation and thoroughly understand the potential value of your invention, you would be wise to engage the services of an attorney and/or a firm who has previously negotiated financial transactions for similar inventions. You don’t want to leave money on the table, nor do you want to have an unrealistic view of your work. Expert assistance can help you avoid either outcome.

The following descriptions are by no means exhaustive, but represent a sample of the strategies you might employ in order to monetize your work:

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How to Get the Job You Want – 3 Keys to Success

interviewAccording to a study by the Society for Human Resource Management, one in five workers was dissatisfied with their current job in 2012. A Jobviate survey also taken in 2012 found that three out of every four workers are actively seeking new positions, suggesting that even those who may be satisfied in their current employment will move to a “better” job, given the opportunity. If you are currently looking for the next position in your career, you have a lot of competition.

An understanding of an employer’s mindset and how it affects their decision to hire one candidate, rather than another, is critical if you want to be successful in your search. Employers hire those candidates whom they believe will bring the most value to their company relative to their cost just as you select which car, computer, or phone model and make to purchase. The product that best fits your criteria of features at the lowest cost is the product you buy. Your challenge as a job seeker is to convince potential employers that you are a better fit and can deliver superior results as compared to the other candidates.

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