We all have those moments where we think, “Man, that’d be a GREAT invention!”
It’s usually followed by, “If only I had the means and the funds to get that going… oh well.”
99.99% of great ideas go unrewarded because of high barriers for entry, but what if I told you that you could get paid up to $70,000 a month for your ideas, without having to put up any capital or hard work?
The inventor inside you just perked up…
These days, you can run multi-million-dollar businesses from your couch.
Physical labor isn’t the most important business factor anymore. Creative thinking is now getting its time to shine.
With that said, it’s now much easier to turn your ideas into profit generators… you just need to know how.
Creating a product can be a very daunting process. But you no longer need to create a product and sell it to make money. I’m here to show you how you can imagine a product and lease it out for serious cash.
What I’m talking about are royalty patents.
A royalty patent is essentially the renting out of your ideas.
I’ll break it down.
If you envision product Z that could benefit people in their daily routines, file for a provisional patent application (PPA). The cost for this is minimal – under $100 – which you’ll make back very quickly.
The PPA will give you a year to sell your idea, but it should really only take about a month or so, depending on how good the idea is.
You don’t need to worry about creating a prototype as long as you can showcase the benefits of your product. This is as simple as creating a sales-sheet which will cost you almost nothing.
The sales-sheet is basically a flyer for your product with something as simple as a drawing or an outline, with some forecasted numbers.
If product Z sells for $30 a unit and you project 10,000 sales in the first month, which is very conservative, a royalty paid to you of $7 per unit would provide a monthly income of $70,000.
Once you ‘ve reached a deal with the company of your choice, be sure to include that the manufacturer is responsible for the attorney fees associated with upgrading to a full patent in your name in the contract.
The next thing you’ll do after the deal is signed is move on to the next idea. It’s as simple as that.
Once you see the profits rolling in from your first one, you’ll be more than motivated to get going with your next idea…
That’s what sort of profit power this $70k a month loophole has…