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Building the Open Innovation Program at Lifetime Brands

Explore open innovation trends and opportunities in the current marketplace. Learn the benefits of licensing and how to take a product to market through others, leveraging valuable IP and negotiating exclusive or non-exclusive terms. Discover the keys to open innovation success and how larger companies can help inventors. Presented by Warren Tuttle.

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Building the Open Innovation Program at Lifetime Brands

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  1. Building the Open Innovation Program at Lifetime Brands Presented by Warren Tuttle

  2. Open Innovation Trends Today

  3. Current Marketplace Opportunities

  4. Product Development Checklist

  5. What is Licensing? • Taking a product to market through others • Leveraging valuable IP • Making a royalty on each unit sold • Negotiating exclusive or non-exclusive terms • Establishing annual quantity minimums

  6. Preparing a Productive Licensing Presentation

  7. How Larger Companies Help Inventors

  8. 20,000 Products 32 Brands 8 Divisions

  9. Keys to Open Innovation Success

  10. Open Innovation Opportunity It’s Always a Good Time for Open Innovation Collaboration More leads using less internal resources 9-18 month lag time to launch

  11. National Innovation Trends

  12. My Coordinated Outreach • Outside Contractor… Many Advantages • President of the United Inventors Association • National Patent Pro Bono Board Member • Washington Advocate for Inventor Rights • Industry Publications Author • Speak Regularly • University of Wisconsin Business School • MIT • The Smithsonian • Industry Trade Shows • USPTO • Inventor Clubs

  13. Summary

  14. Continued Success Plan

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