Based in Minneapolis, Minnesota, Enhance Product Development provides engineering, prototyping, licensing, and marketing services to inventors and small businesses. Enhance Product Development has helped products gain exposure through mass media outlets, including commercial television networks such as NBC and CBS.
Licensing services allow an inventor or small business to lease their intellectual property (IP) to another organization that handles manufacturing and advertising, allowing the IP owner to enjoy lower costs and risk without relinquishing the ownership of a product they developed. Enhance Product Development’s licensing agreements are designed to be as inventor friendly as possible, generally providing the product owner with a per-unit royalty price for every item sold. Licensing agreements generally cover a certain period of time, though they may instead emphasize a specific territory. A standard licensing deal can also include an upfront advance or bonus payment, as well as a minimum yearly payment to the IP owner regardless of annual sales.
The Enhance team seeks to expedite licensing processes to take advantage of the increasingly shorter product life cycles of the modern marketplace. Product developers receive quality support and worldwide distribution that utilizes previously established brands and market positions.