1. Q: How do I sell my idea?
A: LevelOne membership will have the tools you need to help you sell your idea or a LevelOne team member will assist you as part of your membership.
2. Q: What is a licensing or royalty deal?
A: Licensing deal is a contract that allows one party (the licensee) to use and earn revenue from the property of the owner (licensor) Royalty deal is a legally binding payment made to an individual for the ongoing use of their product/idea.
3. Q: What do I get for my monthly fee?
A: Besides having your idea visible to businesses, investors and entrepreneurs, you will also have access to a variety of resources to assist you.
4. Q: How do I know my idea is protected? A: Every member of LevelOne Idea will sign a non-disclosure agreement. You will need to require one to be signed before sharing your idea with a potential client. It is also helpful when filling out your description to not fully disclose your product/idea. Give enough details to make it enticing without explaining all the details. It is also important to have a PPA (Patent Pending Application) for your product/idea.
5. Q: How do I look for buyers for my product?
A: That is where the LevelOne Idea helps you by having businesses and entrepreneurs the ability to see your idea and contact you.
6. Q: Can I really just sell an idea?
A: No, but what you can do is sell your intellectual property that originated from your idea.
7. What is Licensing?
A: Product licensing involves two parties: a licensor and a licensee. The licensor owns the rights to certain intellectual property (IP) while the licensee manufactures products. using the IP granted by the licensor via a license agreement. ... The licensor can offer new products that fall outside its core competencies.
8. Q: Do I need an attorney or lawyer?
A: Attorneys, patent attorneys and lawyers, should you not have one, will be accessible for your individual needs in our classifieds section of LevelOne Idea.
. 9. Q: Who helps me make my decision to either sell my idea or license it for a royalty deal?
A: Ultimately you will make that decision however you will get feedback from the team as well as from your peers.
10. Q: Can I change the direction of my product/idea at any time during the process? If so, what do I do?
A: You have all the time you want until you sign an agreement.
11. Q: Do I need to find my own buyer, or do they come find me?
A: After you list your product/idea on the LevelOne Idea site potential clients looking for new ideas and new products will search the site and evaluate your listing.
12. Q: Can anyone belong to the LevelOne Idea Facebook group?
A: Only members can belong to the private membership Facebook group.
13. Q: What is the Facebook Member Group?
A: Place to discuss issues and get information amongst your peers and other members.
14. Q: How do I decide what to sell my idea/product for?
A: The good news is you will have total control over what you charge your potential buyer. Make sure you put yourself in the buyer's shoes. The more you have done to protect your idea/product the more it is worth. An exclusive deal will also be worth more. (See product development phase)
15. Q. Can a Seller also be a Buyer and vice versa?
A. Yes a person can be both a buyer and seller once they register with LevelOne Idea.
16. Q. Can a Seller also be a Buyer and visa versa?
A. Yes a person can be both a buyer and a seller, they just need to sign up as a buyer and then as a seller so they will have two login credentials.
16. Q.Where do I go if I have questions?
A. Remember to use the LevelOne Idea Facebook Group page for immediate feedback. All other questions, please refer to the CONTACT US form.
17. Q. What method does the buyer and seller use to purchase the new product or idea?
A. There are several ways, but one in particular is escrow.com.
18.Q. How do I know how far a product/idea is in the development process.
A. That information is available in the contact details for each seller's ideas and products. It will give you a product development scale which will show you where the product is in various areas.