How to license inventions

While there's always a risk in showing people your ideas, concepts and prototypes, you'll never get ahead if you don't. Move forward cautiously, but know that this is the path virtually every successful inventor has taken at one point or another.

If you're nervous about meeting with major industry players, you may want to consider getting a representative. Call or write the U.S. Department of Energy and request their free book, Making the Licensing Decision. Originally published by the Licensing Executives Society of USA and Canada, this short book covers negotiating, licensing strategy, resources and documents in plain English. It's a short course in licensing that provides a fast ramp-up on what you need to know.

Another great source for information is your industry's trade association. Trade associations always include the top players -- usually the good guys who project their positive nature on the rest of the group. They can be helpful and frank in providing assistance with industry specifics. Trade associations are listed in the Gale Encyclopedia of Associations, Columbia Books Directory of National and State Association, and the Leadership Directories, all of which can be found in the reference section of any major library.

Also, visit the United Inventors Association web site at www.uiausa.org. There you'll find more than 500 questions on invention answered by industry experts. You may also want to subscribe to Inventor's Digest.