The Innovator's First Dilemma - Should You License Or Produce Your Invention?

So you've dreamed up a great idea, developed a working prototype, and now it's time to take it to market. This can be a time-consuming, costly and risky proposition. Do you really want to do it all yourself? Or does it perhaps make more sense for you to simply license the idea to an established company?

Forbes answers that question in their recent article, Should You License Or Produce Your Invention?

The author looks at the pros and cons of both approaches, as well as the relevance of your personality type. In summary:

If business is your real game, and creating an invention is just your means of acquiring something to sell, then marketing and manufacturing could be the right choice for you. Same goes if you live for the deal, you're not afraid of risks, you love to innovate in commerce and you have the discipline to fight for market share. But if none of the above sound like you, licensing is probably the correct course for you.