Two heads are better than one, so why not use a joint venture to get your invention off the ground?
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For inventors, a joint venture is an agreement by two parties towork together to design, promote or manufacture a new product. Theparties split the work and the profits. Inventors can form a widevariety of partnerships, including:
- A partnership with a manufacturer who will help design the newproduct, build prototypes and eventually produce the product. Theinventor is responsible for all sales and marketing activities andmay also pay for the patent and other tooling expenses.
- A contract with a sales and marketing group that agrees tomarket the product
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