Over the course of our 20+ year history, Becker Associates LLC has represented hundreds of inventors for the licensing of their new concepts to companies around the world. Our clients include major toy and game manufacturers from around the world who want to expand their licensing and the distribution of their products, professional inventors, and entrepreneurs who come up with a great idea.
If you have a new product idea, or a brand extension for an existing product, submit your New Product Submission right here. We're always looking for the next fantastic product / brand!
Have you ever wondered where the idea for a new product comes from? In some cases, an individual designs a product and brings it to the market themselves. They might invest thousands of dollars or more on research and development, packaging, etc., but buyers and retailers are reluctant to place orders and commit their valuable shelf space to a new company.
In other cases, the developer of a new concept will attempt to interest a manufacturer in marketing their product in order to save themselves the effort and expense of producing it independently. However, most major manufacturers will accept submissions only from reputable agents, not individuals. Recently, some small and medium sized companies have started to accept submissions from independent inventors, but, it requires approaching each company independently, waiting months for answers, and generally hearing many rejections, as many toy companies report that only 2 - 3% of all new products are licensed.
Most inventors, however, will bring their new concept to a licensing agency, like ours. We present your idea to many manufacturers and negotiate a license agreement on your behalf. Obviously, choosing the right agency is one of the most important decisions an inventor has to make. The inventors we represent have told us repeatedly that we offer expertise and services that other agents don’t. Our complementary strengths in legal, marketing and child development are unique.
What is Licensing?
A license is an agreement between an inventor (or their agent) and a manufacturer that grants the right to make and sell an invention in exchange for payment (called royalties). The license agreement details the terms of the license, such as advance payments (how much the manufacturer will pay up-front for the license), royalty rate (the percentage of the manufacturer's selling price that the inventor receives), and the report schedule (how frequently the manufacturer will send an accounting of all pieces sold, along with a royalty check).
What is an Invention?
For the purposes of licensing, an invention is any new concept that is commercially marketable. This might be an all-new concept (the telephone, for example), a combination of two or more concepts merged together in a unique way (the telephone/answering machine) or an improvement on an existing concept (the push-button telephone).
This, of course, is the most difficult question of all. First, consumer demand for the concept needs to be evaluated. Is there a need or desire for this type of product? Next, the competition, or state of the art, must be examined. Is there anything substantially similar already available on the market? Is there a reason in the market for another product in that category? What’s the cost of your product and other products? How much would the prospective consumer be willing to pay? Is there third party licensing that this product can work with? Is it on TV, streaming, or in the movies? Which group of consumers is your invention intended for? Is it an idea for a new toy or game, appealing to children and families?
Even with a full understanding of all these elements, it's surprisingly difficult to predict which products will be blockbuster hits, which will sell moderately, and which won't sell at all. It often costs a manufacturer hundreds of thousands of dollars to introduce a new product. There’s research and development, tooling, marketing, packaging, promotion and production. Regardless of how good the economic conditions are, no manufacturer takes the plunge with a new product unless they feel sure they will see a sizable return on their investment. That's why they rely on the presentations and recommendations of Becker Associates and our reputation and history of success.
All of the major manufacturers know about Becker Associates’ 20+ year commitment to bringing new and innovative product concepts to the market in every category. That's why thousands of inventors are referred to us each year by our licensees throughout the world. Manufacturers know we carefully analyze each submission we receive to find the ones that are just right for them. They know we've done all of the necessary preliminary work to identify their needs and our presentation will be smooth, thorough and professional. And they know when it comes time to hammer out the finer points of a license, we're tough but we're fair.
Becker Associates will represent your new toy or game concept to companies around the world. Here's a list of some of the Items Licensed by Anjar and Becker Associates.
Q: How much does it cost to have my idea evaluated?
A: The fee for reviewing your new concept is $195, payable by PayPal, check or money order included with your submission.
Q: Do I need to submit a model of my new concept?
A: No. We will accept a written description of your idea, sketches, drawings, photographs, etc. However, if you have either a working or non-working prototype of your new concept, please include it with your submission to help us better understand and test your idea. If you like, we'll be happy to refer you to a qualified model maker.
Q: What does the review process consists of?
A: Your new product concept will be analyzed to determine its novelty and licensibility.
Q: Do I need to have a patent, trademark or copyright before I submit my idea for review?
A: No. In fact, many of the products licensed by Becker Associates are not patented. However, a qualified attorney, expert in patent, trademark and copyright law, will review your concept to determine what, if any, protection is recommended.
Q: How do we share the royalties?
A: The inventor receives 60% of all royalties and advances earned from licenses. Becker Associates retains 40% as its management fee.
Q: How much money can I expect to earn from my new concept?
A: Of course, it's impossible to predict the success of any particular item. In some cases, Anjar and Becker Associates have paid out over a million dollars in royalties for a single idea! Many items will enjoy moderate success. We only represent products and concepts we believe in strongly. But, not all items are licensible.
Q: Are you a manufacturer?
A: No. Our job is to represent the best interests of your item to manufacturers.
Q: How is Becker Associates different from those "inventors submission" companies?
A: In many ways. Becker Associates, together with Anjar, has licensed over 1,000 new concepts and our principle source of income (over 99%) comes from royalties which are shared with the inventors we represent. Some idea submission companies make virtually all of their money from fees charged to inventors. In many cases, the inventor is contacted after submitting their idea and pressured into paying up to thousands of dollars for unnecessary "marketing reports." Before you submit your ideas to any company, be sure to ask what products they’ve successfully licensed in the past.
Q: What marketing and licensing services do you provide when you represent brands or products?
A: We create 1-pagers featuring your brand or product. We also add your brand or product to our website. Proprietary concepts are "hidden". We strengthen your brands' social media presence by leveraging over 30K LinkedIn followers. We feature your brand or product during the NY Toy Fair and other trade shows. And, we create customized presentations for licensing and merchandising rights.
Q: What brand management services do you provide?
A: We assist with brand development, brand extensions, marketing, positioning and pricing. We also review prototypes and preproduction samples of manufactured products. We provide product development guidance. We also monitor compliance of agreements, including required approvals and samples. Once the product is manufactured, we consult on quality control issues. And importantly, we manage the collection of royalties for licensed products and brands.
Q: What’s your passion?
A: We continue the tradition of discovering, developing, and marketing the greatest toy and game concepts in the world. We’re all about empowering kids with the passion of play!
Q: What's the Walmart Women's Empowerment Program?
A: We like to empower women and the Walmart-WIT Women's Empowerment Program we developed with Walmart in 2012 has seen more than 500 women-owned-businesses pitch their products directly to Walmart buyers. The result? Many products have landed on the shelves of Walmart and Walmart.com.
Q: Are you a member of any organizations?
A: Yes. We're members of the Toy Association, Licensing International, and Women in Toys.
Q: Do any of those organizations explain what's involved with Licensing?
A: Yes, Here's a link from Licensing International ... What is Licensing? | Licensing International
If you have a new product idea, or a brand extension for an existing product, submit your New Product Idea right here. We're always looking for the next fantastic product / brand!