Enhance Product Development, Inc., in Minneapolis, Minnesota, provides clients with a depth of industrial design and engineering services, from prototyping support to various advertising and marketing services. Enhance Product Development, a two-time finalist at the 2016 Global Innovation Award, also provides assistance when it comes to invention licensing.
The company’s invention licensing services have been designed to leave each client with a clear understanding of the licensing process and how important licensing is to a successful, profitable product life cycle. These inventor-friendly services help clients take full advantage of worldwide distribution opportunities and enjoy recognizable branding partnerships, all while saving money on up front manufacturing and marketing costs.
Product licensing can be viewed as a lease on an inventor’s product. The inventor maintains ownership of the intellectual property in question, but temporarily cedes manufacturing and advertising rights, among other rights, to a company equipped to meet the engineering and distribution needs. Any item sold during the licensing period generates a percent royalty for the inventor, who resumes full rights at the end of the agreement. More information on licensing agreements and services can be found at the Enhance Product Development website, www.enhancepd.com.