Where can i sell a business idea?
Selling a business idea can be a lucrative venture if you approach it strategically. Here are some avenues and strategies to consider:
Where to Sell a Business Idea
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Established Companies: Many large companies have open innovation processes where they accept external ideas. Research companies that align with your idea and submit it through their official channels or by contacting key decision-makers directly12.
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Licensing Platforms: Platforms like MarketBlast connect inventors with companies looking for new ideas. Licensing allows you to retain ownership while earning royalties13.
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Inventor Networks and Groups: Joining inventor associations or online forums can help you connect with potential buyers or licensees1.
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Crowdsourcing and Crowdfunding Platforms: These platforms allow you to test your idea and potentially secure funding or buyers1.
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Local Firms: Small local companies may be interested in expanding their product lines and can be easier to approach due to proximity3.
Companies That Pay for Ideas
Some notable companies that pay for ideas include:
- Sharper Image: Specializes in gadgets and home appliances2.
- Bosch: Interested in technology and engineering innovations2.
- All Star Innovations: Works with various retailers and has launched successful products2.
- Jokari Home Solutions: Focuses on home products and DIY tools2.
Steps to Sell Your Idea
- Research Your Idea: Understand the market demand and competition4.
- Establish Ownership: Protect your intellectual property with patents or copyrights4.
- Prepare a Professional Pitch: Develop prototypes or detailed drawings to showcase your idea5.
- Identify Target Companies: Research companies that align with your idea4.
- Negotiate a Deal: Ensure the agreement is beneficial for both parties3.
By following these steps and exploring the right channels, you can successfully sell your business idea.