# #046 - When not to start a startup - how to license your idea (Part 2), with Stephen Key of inventRight, USA

- Show: [The Hardware Entrepreneur](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur)
- Published: 2018-01-17
- Length: 28m
- Page: https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2018-01-17-046-when-not-to-start-a-startup-how-to-license-your-idea-part-2-with-stephen-key
- Listen: https://traffic.libsyn.com/secure/thehardwareentrepreneur/046_-_When_not_to_start_a_startup_-_how_to_license_your_idea_Part_2_with_Stephen_Key_of_inventRight_USA.mp3

## Summary

Stephen Key of inventRight explains how inventors can license ideas using a Provisional Patent Application (PPA) instead of launching a startup, arguing that PPAs provide sufficient protection against copycats in fast-moving markets. He details the steps for writing a strong PPA, including conducting prior art searches and defining unique points of difference, while warning against relying solely on patent attorneys who may have financial conflicts of interest. Key also shares lessons from his career, such as the importance of working for startups early on and using non-disclosure agreements when seeking external help to avoid co-ownership disputes.

## Chapters

- [0:00](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2018-01-17-046-when-not-to-start-a-startup-how-to-license-your-idea-part-2-with-stephen-key#t=0) Introduction: Stephen Key and inventRight
- [2:02](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2018-01-17-046-when-not-to-start-a-startup-how-to-license-your-idea-part-2-with-stephen-key#t=122) The Value and Strategy of Provisional Patent Applications
- [5:30](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2018-01-17-046-when-not-to-start-a-startup-how-to-license-your-idea-part-2-with-stephen-key#t=330) Global Filing Strategies and Government Resources
- [8:49](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2018-01-17-046-when-not-to-start-a-startup-how-to-license-your-idea-part-2-with-stephen-key#t=529) Steps to Write a Well-Written PPA
- [11:50](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2018-01-17-046-when-not-to-start-a-startup-how-to-license-your-idea-part-2-with-stephen-key#t=710) IP Value for High Tech Startups and Fundraising
- [15:32](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2018-01-17-046-when-not-to-start-a-startup-how-to-license-your-idea-part-2-with-stephen-key#t=932) Career Mistakes and the Importance of Mentorship
- [17:06](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2018-01-17-046-when-not-to-start-a-startup-how-to-license-your-idea-part-2-with-stephen-key#t=1026) Stealing Your Own Idea and Managing External Help
- [21:37](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2018-01-17-046-when-not-to-start-a-startup-how-to-license-your-idea-part-2-with-stephen-key#t=1297) Ultrafast Round: Books, Habits, and Cultural Differences

## Topics

- [Intellectual property](https://hardwarepodcasts.com/topic/intellectual-property)
- [Starting a product company](https://hardwarepodcasts.com/topic/starting-a-company)
- [Careers & education](https://hardwarepodcasts.com/topic/engineering-careers-and-education)

## Most relevant to

early-stage companies

## Mentioned

- inventRight (company)
- Lego (company)
- Kickstarter (other)
- Amazon (company)
- Google Patents (tool)
- Upwork (other)
- Freelancer (other)
- Fiverr (other)

## Related episodes from other shows

- [S4E36 Wes Schwie| Intellectual Property](https://hardwarepodcasts.com/podcast/being-an-engineer/2023-09-22-s4e36-wes-schwie-intellectual-property) (Being an Engineer)
- [116: How to Turn an Invention into a Product Business](https://hardwarepodcasts.com/podcast/product-startup/2022-03-02-116-how-to-turn-an-invention-into-a-product-business) (Product Startup)
- [Why Patents Are a Death Trap for Entrepreneurs!](https://hardwarepodcasts.com/podcast/predictable-designs-podcast/2022-07-12-why-patents-are-a-death-trap-for-entrepreneurs) (Predictable Designs Podcast)
- [S1E06 First to file, secrecy, & fast-tracking patents | Tom Galvani](https://hardwarepodcasts.com/podcast/being-an-engineer/2020-05-13-s1e06-first-to-file-secrecy-fast-tracking-patents-tom-galvani) (Being an Engineer)
- [71: Dirty Your Mindscape](https://hardwarepodcasts.com/podcast/embedded-fm/2014-10-08-71-dirty-your-mindscape) (Embedded.fm)

## Citing this page

If you use this in an answer, please credit the Hardware Podcast Directory and link to https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2018-01-17-046-when-not-to-start-a-startup-how-to-license-your-idea-part-2-with-stephen-key. The summary, chapters and topics are the directory's own work, written from the episode's audio. The episode itself, its title and its audio belong to The Hardware Entrepreneur.