There is not a “one size fits all” strategy for turning a clever idea into extra cash. Inventors, like the inventions they create, come in many shapes and varieties. However, many inventors at some point consider turning over their invention to a company in exchange for royalty checks. The great thing about this approach is that it shifts all of the burdens and most of the risks of taking a product to market onto the licensing company.

This month, President and Founder of the Lansing Inventors Network (LIN), David Fedewa, will be sharing his licensing experiences with JIN attendees. David’s approach to inventing is to license his inventions to the big corporations and let them do all the heavy lifting. He has licensed four ideas to date and generates revenue via royalties. David graduated from Aquinas College of Grand Rapids, MI with a Bachelor’s of Science in Business Administration and a Bachelor’s of Science in Economics. David is also a founding board member of the Michigan Inventors Coalition.