Now that you have a good understanding of the problem you can begin creating your listing.

Listing title: Create a listing title no longer than an average sentence in length.

Tips:

• Your listing is like any advertisement.  Be creative to get your customer’s attention.
• Use concise phrasing related to the problem or benefits of the solution.
• One great method is to define your problem in a short phrase and then flip it into a positive question.  Example:

Problem:  Shopping carts are often wobbly or squeaky.          

Listing Title:  Wouldn’t it be great if shopping carts never squeaked or wobbled?

• Learn more about creating a listing title by reading Creating a Clear Concise Listing Title.

Intellectual Property: (Required) 

Select the correct IP

Stage(s) Complete:  (Required)

Select all that apply

Listing Category:  (Required)

Select the correct category.

• Select the right category so companies can find your listing. 
• If your idea is a product, you can use Amazon.com or Walmart.com to identify similar products.  Search for a similar product, note the category in which it is listed, and find a comparable category in your listing.

Listing Type:  (Required)

Select the correct listing type.

• If you are wanting another company to produce your idea, “Licensing” or “For Sale” or “Brokerage” are the best options.
• If you want to venture on your own, “Seeking Partners” or Seeking Investors” are likely for you.

For Sale:  This is more common when inventors have a patent in place.  The sale is often a lump sum up front.  However, once the idea or patent is sold, the company has full ownership to do with as they please.

Licensing:  Most often inventors license their ideas. Licensing is very similar to leasing.  The inventor owns the idea through the life of the contract, collecting royalties on each unit sold. 

An average royalty is between 3% and 10% of gross revenue, but can vary.  Normally royalties are paid quarterly. For example, if the agreed-upon royalty percentage is 5% and the licensee generates $1 million in gross revenue from the licensed product, the inventor would receive $50,000 (5% of $1 million) as royalties.

Licensing is a good option for a company as well because they will incur a minimal amount of risk up front but will share profits as the product becomes established.  Inventors can re-license the idea if the company does not perform to the negotiated requirements.  

Exclusive vs Non-exclusive Licensing

Exclusive licensing grants a licensee the sole right to manufacture and sell a product, while non-exclusive licensing allows multiple licensees to manufacture and sell the product.

Negotiations and licensing terms are very important to get right in licensing agreements and we recommend assistance from a professional.

Seeking Partners:  If you choose to venture, a business partner that can complement your skills is a great option.  The RemarkableVenture process offers a perfect starting point for  potential partners to identify common passions.

Brokerage:  If you are looking for someone to take your idea and help you get it to market, there are many vendors and entrepreneurs who seek to help.  They may require investment from you up front or may seek to share in royalties or sales.  This option is good if you don’t want to deal directly with a company for a licensing deal.

Seeking Investors:  Any great idea takes capital to launch.  Remarkable Venture will attract the right investors to help you through the most difficult parts of your venture.  (Refer to the US Securities Exchange Commission and a licensed attorney to understand your requirements pertaining to investors)

Asking Price: (Optional)

Add your listing price here.

If you have an asking price in mind or a royalty percentage you can add it here.  This field is not required and will be completely omitted from your listing if you leave it blank.

• You can list a firm price or add “OBO” (Or Best Offer) if you prefer.
• Royalty statements should include a percentage and the pertaining revenue to such as gross revenue.  Gross revenue is based on revenue before deductions are applied.  Net revenue refers to revenue after deductions are applied.

Congratulations, you now have finished the first step of creating a Remarkable Venture listing!

To continue the Remarkable Venture Inventing series, read: Creating a Remarkable Venture Listing – Step 2 next.