Charles Graffeo

INVENTORS - is SELLING YOUR PATENT outright a realistic opportunity? The short answer is no. I get this question all the time! Fact is, most individual inventors who profit from their inventions in the area of licensing do so by LICENSING their product to a company in exchange for royalties. Most individual inventors do NOT just sell their patent(s) to a company for a big fat check! Why can’t inventors cash in quickly by selling their patents? Because many intellectual properties such as patents have yet to be validated or “proven” to a company and therefore it becomes a risky proposition for a company. If an idea for a product has no sales history or lacks a brand name for example, a company just may not want to make a large investment in it. Occasionally, a company may provide you with an ADVANCE on royalties, but as they make sales the company will hold back any amount they give you and only pay new royalties once that advance has been repaid. So, while the thought of receiving a 6 or 7 figure check up front sounds like a dream come true for many, the reality is that it’s far more likely that you can strike a licensing deal that pays royalties for years to come! #inventing #licensing #patents #retail

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INVENTORS - should you MANUFACTURE your product in the USA? Should you make your product in the USA or overseas has been a raging debate for decades in the product business. When I ran my product company years ago I made everything overseas for a few major reasons - the quality was very good, there were plenty of willing factories to make my products, and the cost was very low. Of course these are just some of the reasons to utilize any factory regardless of where they are at and in my case my products at the time were made in China and Korea. My factories were excellent communicators, were very consistent in putting out a quality product, and the cost to ship my products to my warehouse was low and so I had no reason to consider the United States at the time. Fast forward to today… The cost to produce products overseas has gone up significantly. The quality is not what it used to be in many instances. We don’t even want to talk about how expensive it is to ship something from China these days! Not to mention all the knock off products that are made by some of these factories and the inability to enforce any intellectual property for the average person when a foreign entity decides to make and sell your products close to their home. The reality is is that you have to look at your own product and compare costs and shipping and other factors and decide what’s best for you. It’s obvious that overseas factories are great at making the things we love the most like our cars and our phones and our TVs and appliances and clothing and all the things we use on an every day basis. But US factories also are equally skilled. Many inventors have told me that they want to support the USA by making things here and my response has always been that if you make a product here and it’s 3 or 5 times more costly than making it overseas then you won’t have a successful business and won’t be able to hire people or even keep yourself employed so is that really supporting your local economy or putting a strain on it? For most inventors it often comes down to the COST and being able to make the product so it’s able to be sold and affordable by the average person. When you invent you are running a business and it’s about making profits and allowing your retail customers to do the same. Ultimately you have to do your research and see where it’s best to manufacture and of course if you can do it here at home in the USA that’s always a nice feeling but you must remember that in order to have a successful business you have to clear a profit so do your homework and then you can decide where is best to manufacture! #licensing #manufacturing #inventing

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Are you curious about how we can bridge the manufacturing labor gap? Estimates suggest that 2.1 million manufacturing jobs might go unfilled by 2030, resulting in a staggering $1 trillion in costs that year alone. Listen to this interview with my colleague, Lisa Walker, who shares her perspectives and innovative solutions. #ManufacturingIndustry #LaborGapSolutions #Innovation

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The trend of reshoring items to US manufacturers has shifted recently, with a fast move to take items back overseas for cost reduction. It's important to note that what you think is American-made may not always be the case. Stay informed about the evolving landscape of manufacturing to make informed decisions. #Manufactures #costreduction #Americanmade #Statusquosucks

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Given the severe increase in food production recalls and being a former GM responsible for production, brand growth, and market share, I am very excited about this announcement. This is "game-changing" with the progress being made by Clean Beam, LLC and working with Eden Park | 222nm Continuous Disinfection Solutions. The idea is that bacteria (E-Coli, Listeria, Salmonella, and others) are killed in seconds on boots with no solutions (foam & water), avoiding any slippage, plant injuries or water sourcing. When will they become available, "tomorrow is not soon enough"!

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The New Face of Manufacturing Fabric of America with Gretchen Philyaw Gretchen Philyaw What does #Manufacturing look like? What is the New Look of Manufacturing to Drive Growth? It takes many forms and function but it has to be Different. Exciting. It Has to Make You Look Twice. It is important to show the new generation coming up in school that Manufacturing is a fantastic and exciting place to be. But….. You have to get their attention!! Our future as a thriving country is dependent on this change in thought process. Let’s make every effort to show the new generation how exciting this industry has become. Be the Change. Manufacturing 4.0 & Beyond! The Future is Here! We Are the Future. Pictured with Spot from a true leader changing our industry for the Future! Boston Dynamics #RosieRevived #manufacturing #technology #womeninmanufacturing #wearethefuture #robotics #americandreamer #americanmade Gretchen Philyaw

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At what point does business news link together the CPI increases (which exclude fuel and energy), personal credit/credit card balances at historical highs and the “strong retail sales”. As a business person focused on manufacturing materials, it’s not how much these companies say they’re making, but how many that matter. We hear that Tesla will be having layoffs. Amazon will be having layoffs. Ford, GM, Stellantis will be having layoffs. Etc. Quarterly results propped up by major job cuts and higher unit margins on smaller unit sales is not indicative of a strong economy. The gaslighting going on about the economy in the news is almost laughable at this point. Here is the fact: the United States Government through massive debt fueled spending (An additional $1 trillion per 100 days now to total debt) is creating artificial GDP insuring inflation remains high while unit consumption of everything but necessities drops. #gaslighting #economy #manufacturing #us_economy #inflation #CPI

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INVENTORS - can you just SELL YOUR PATENT outright to someone? Well, it’s possible. But not very likely. Selling your intellectual property for a large sum of money is a rare event. For the decades I’ve been in this business I’ve only seen it a few times, and it was always for a groundbreaking medical device, or a life-changing piece of software that most everybody can use. For the average inventor the chances are minuscule, and even if it happens, the amount of money you get would not be very much. The reality is that LICENSING is the path most inventors should take if they are looking to financially capitalize on their ideas, and they don’t want to bring the product to market themselves. This path is not easy and most inventors won’t achieve a licensing deal, but they do happen enough that if you prepare correctly and have something that companies want and feel that they can profit from then you absolutely have an opportunity! But don’t confuse selling your patent with licensing. When you license, you’re simply leasing your intellectual property to an entity and in exchange, if they are successful selling your invention idea to their customers, you will receive a royalty stream for a period of years. Occasionally, licensing deals have upfront royalty payments against a future royalty stream, but every deal varies. When you invent, have a clear understanding of the opportunities available to you and that will allow you to pursue any opportunity with the best chance of succeeding! #inventing #licensing #patent

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Mastering due diligence in manufacturing acquisitions! https://lnkd.in/e7pfsgy5 #manufacturingacquisitions #duediligence #businessgrowth #acquisitionstrategy #entrepreneurshipjourney #industryinsights

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Why care about Can Wall Thickness? In this episode of Why Quality Matters, we work with Torus Technology Group to answer this question.

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To truly say “yes” to one thing, you have to say “no” to many others. We’re clear about what we do. This allows us to serve our customers in a way that no one else can. It also means that many situations aren’t the right fit for us. In those cases, we’re more than happy to make an introduction to someone who can better serve the needs of our prospective customer. You can’t stand for something unless you’re clear on when and where to say “no.”

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Guess who turned 50 years old today? None other than the humble barcode. I've written about the impact of the invention of the container and how it transformed shipping. Well, the bar code is no slouch either. Recognized as one of the 50 inventions that shaped the modern economy, the barcode simplifies sales and inventory management, appearing on over one billion products globally. 📆 The journey began in 1974, with the first barcode scan on a pack of Juicy Fruit gum at a supermarket in Troy, Ohio, making its mark in retail history. Canada was the second country in the world to adopt the barcode, with a local grocer to me, Steinberg in Dorval, using it for the first time in 1974. 🌍 Since then, barcodes have been silently powering operations from checkout lines to global supply chains. I wonder what's next for retail logistics? Any ideas? 👉 Like this content? Don't miss out! Join my exclusive monthly newsletter written for ambitious e-commerce brand owners. Make better sourcing decisions in China. No fluff, no ChatGPT used. Subscribe now in 10 seconds via the link in the comments section. #BarcodeAnniversary #Innovation #SupplyChainManagement #RetailTechnology #GS1

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Follow these tips to avoid the 12 deadly killers of manufacturing M&A deals. https://lnkd.in/eB6UbR7M #manufacturing #businessowners #mergersandacquisitions #businessstrategy #entrepreneurship #businessgrowth #dealbreakers #businessvaluation #duediligence #management #businesssuccess #retirementplanning #financialadvice

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