As you evaluate your product’s potential for licensing, the second question you should consider is, “Is my product going to be easy to manufacture?”
Again, I offer this disclaimer: a product that possesses manufacturing issues or difficulties may still be produced. This article is devoted to describing the ideal product for licensing. A product need not be ideal to be manufactured, but it’s definitely more desirable and more likely to meet success if it is.
Is your product fairly simple to manufacture? Does the technology required to make it already exist? Do the companies you are considering licensing to own machines with the technology? In an ideal situation, a licensee should be able to look at your product briefly and immediately know that they can manufacture it without difficulty. That’s a beautiful thing. If so, you may not even need to make a prototype. And furthermore, the licensee will not have to weigh the time and energy needed to resolve your product’s manufacturing issues against its benefits.
I’ve stressed the importance of understanding how your product will be manufactured. An ideal product for licensing will use technology already in existence. Find an existing product that has similar aspects to your idea and can be manufactured in the same way. For example, their product is made by a one-piece injection mold, and so is yours. If minimal changes need to be made, then your product possesses great potential. If a licensor is presented with two ideas, and one is much more easy to manufacture than the other, logic (and my experience) indicates that they are much more likely to select it.
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