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Insider Licensing Preparation Stage Question

alexcarzola's Avatar

Does every idea applied to the Insider Licensing get this  same message?

Congratulations! Your idea has now entered the Preparation stage. Our team is hard at work preparing your idea for potential licensing opportunities.

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magurn's Avatar

Hi Alex!

Yes, this is a standard message when your idea is submitted.

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keeztan's Avatargold

(Participation Trophy for would be Geniuses )

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woodysa's Avatar

My idea has been in the 'preparation phase' for a little over two months; just wondering if this is common? This idea was selected and pitched to Pampered Chef, so I thought it may have already been prepped by the team.

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sgdromms's Avataren_staff_badge

Mike - Your idea was submitted to the Pampered Chef search initially and went through that review process. As you know, they ultimately did not select the concept, and appears that you then submitted to the ILP.

There is  not a direct link from a sponsored search to the ILP. Your concept was prepared as part of a presentation for the search sponsor, and going through Insider Licensing process and having pitching packet produced is different steps.  

Our teams also take feedback garnered from sponsors and work to try to adjust pitches as we move forward, essentially trying to get in front of potential future objections. 

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woodysa's Avatar

Great explanation, I appreciate it.

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edandherb's Avatar

Hi Guys! 

I'm new here, I'm just wondering how long does it take to be in the preparation stage?

Thank you!

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kristina.poindexter's Avatar

Hi Herbert, 

The preparation stage timing for an idea in the Insider Licensing Program varies case-by-case and can take more or less time depending on the product and nature of the market it is being licensed to.

During this stage we perform a best partner review. We take inventory of our retail and manufacturing contacts and begin to map out just who should learn more about your idea. 

We also conduct a gap analysis and visit the store shelves to understand the market and to get an understanding as to where your idea fits.

Hope this helps to clarify and best of luck!! 

Herbert Rosales
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edandherb's Avatar

Thank you Kristina! I appreciate it.

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edandherb's Avatar

Hi Kristina, 

Any idea about my idea?

Thanks!

Herbert

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dljinnovations's Avatargold

Hi Herbert.  Kristina is no longer with Edison Nation.  Perhaps someone else from EN staff will chime in.  Otherwise you can email questions@edisonnation.com

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