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I have a utility patent, and now have some questions

heathercmarvin's Avatar

What is the better route to go, finding a licensee  with a standard consumer company or ASOTV?  How does ASOTV work?  Do you get a contract with "success fees" and royalties or just a percentage of sales?  My utility patent was issued on 11/17/2015.

Thanks for any and all help or advice.

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magurn's Avatar

Hi Heather and Welcome to Edison Nation!

We received your message on Support as well! As far as the route you'd like to move forward with, that is completely up to you.

With ASOTV, if your product successfully makes it through evaluation phases and tests successfully on television, you would receive 7.5% of the net royalties for product sold. To learn more about our new ASOTV process, check out this ASOTV forum thread.

If you move forward with a licensing path, any ideas licensed would result in a 50/50 licensing split with you as the innovator.

We would strongly recommend reviewing the information found on the Edison Nation Help Page. This includes all terms and conditions of the Innovator agreement that you electronically sign upon submitting an idea (click "Legal" on the Help Page to review before submitting).

Hope this helps to clarify! You are also always welcome to send us questions via email at questions@edisonnation.com.

Best of luck!

Heather Marvin
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