Invent Sum Permit For Free

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A recent survey showed that 54 percent of inventors think their invention will make over $5 million with another 24 percent expecting at least $1 million.
The average royalty on a typical invention are 3-6% of the wholesale price of the product sold. The wholesale price is the price that the manufacturer sells the product to its customer. In most cases the customer is a retail store, but the customer could also be to a distributor or a sale directly to an end user.
A recent survey showed that 54 percent of inventors think their invention will make over $5 million with another 24 percent expecting at least $1 million.
Quirky will be taking anywhere from a 5 percent to 10 percent cut. When an invention is being sold directly to consumers, the inventor will earn a 3 percent royalty. When a third-party retailer sells the product, the inventor will earn 1.5 percent.
The average patent holder earns $256,000 per year in her mid-40s. The star innovators those who produce the most highly-cited patents and matter most for economic growth earn more than $1 million, on average, each year.
Royalty rates vary per industry, but a good rule of thumb is between 2-3% on the low end, and 7-10% on the high end. I have licensed consumer products for as low as 3% and as high as 7%, with 5% being the most common and a generally fair number.
There is no reason not to get paid for your inventions if you are one of those people. The trick is learning how to make money from your ideas. If you can pull it off, it's a great way to make money. Inventions are the one thing that if you hit it big, you can earn royalties for as long as the product is alive.
While a patent can be a valuable tool, it may be unnecessary to creating a viable product or business. And it should rarely be your first step in the invention process. Before you pay to get a patent (on average $5,000-$10,000), you should discern whether your idea is marketable.
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