Creating jobs for America's future with its extraordinary ability to innovate! 
Your knowledge in a particular area of expertise is referred to as "know-how". Everyone has know-how in one form or another. When you've become highly knowledgeable in a certain field, you get rewarded for your know-how. For example, your employment to do a job for a company.
There is another form of know-how that is commonly overlooked by inventors and can be part of a partnership or license agreement along with your patents, trademarks and other IP. What you know about your invention, how it is made, used, and sold is also called know-how. Thus, one of the tenets of becoming an accomplished inventor is to become an expert in your field.
For example, our know-how of the invention process is one of the "trade secrets" to our formula to success. While we may not specifically reveal the trade secrets, they pervade everything we do. You can rest assured that there are few - very few, if any - similar experts working for the notorious invention companies. Thus our know-how has a certain degree of protection because we others simply don't have it!
So, one of your quests as an inventor, is to become an expert in your field. This will lead or contribute to terrific opportunities for licensing your inventions or entering into profitable consulting arrangements. We know a lot of inventors who have profited from their know-how.
A few examples of know-how licensed or partnered by independent inventors (or creators) with industry:
- Hewlett Packard's blueprinting system.
- Microsoft's DOS operating systems.
- Plastic grocery sack technology.
- Car washing soap dispensing systems.
- Tube and caulk dispensing system.
- Herbal teas.
- Alvin and the Chipmunks (we're not kidding).
You should tout your know-how when you know you've got it. And you should always include it in your confidentiality agreements and in your license agreements. Know-how should not be divulged without some form of compensation.
As always, our Quick Start Guide shows you how to identify your know-how and how to keep it confidential.
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One of the best uses of know-how Think about this. You've got an invention and your research tells you it is marketable and will produce excellent income. However, an interested licensee doesn't have the means to implement it...(more) |
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