Business Process Outsourcing for New Inventions

Corepro FAQ

Q.  Who is Corepro Licensing LLC?

A.  Corepro Licensing LLC is an independent licensing company that specializes in new product introduction, tradeshow representation and operates as a Business Process Outsource Company (BPO) to the product development industry.  Corepro outsources and coordinates additional product marketing activities with third party vendors and assigns licensing agreement negotiation through service providers that engage in the negotiation process.

Q.  How much are Corepro product marketing services?

A.  Corepro operates as a commission based new product marketing firm.  As compensation for services, we collect a contingency percentage of any royalties, advances against royalties and considerations generated through our marketing efforts that result in successful completion of negotiations that may result in a fully executed product license agreement.

Q.  How long will Corepro try to market an invention for soley commission?

A.  There are many factors considered when evaluating a new product for our portfolio.   These factors include a full patent search with a legal opinion from a registered patent practitioner, a complete design and functional product description and detailed industry overview with metrics.  We also require evaluations from independent and credible third party sources such as professional commercial evaluators or a university technology transfer program and 2D graphic renderings.  Therefore, we represent most new inventions for an average period of 1 to 3 years.

Q.  How does Corepro communicate and support its clients?

A.  As an organization we work "remotely", which means that we don't spend too much time sitting behind a desk.  We travel often to network, make presentations, attend trade shows and initiate visits and meetings with manufacturers and decision makers.  We rely on our Knowledge Process Outsourcing (KPO) partners to communicate with our inventor clients and forward periodic communication and updates to each client before, during and after trade show and marketing events.  This method of operating supports a mutually beneficial and low cost business model, better communication and keeps our marketing clients informed with greater frequency.

Q.  How many trade shows does Corepro attend annually?

A.  Trade show participation averages about 12 events per year.  All events are scheduled ahead of time and an event schedule is generated and delivered to our clients.  The schedule of events is subject to periodic revisions as our strategies are adjusted throughout the year.

Q.  What is the Corepro marketing strategy for contacting manufacturers?

A.  As an Independent licensing companies (ILC) we engage in the following activity at tradeshows:

  1. Establish contact with a key decision maker
  2. Gauge fabricator desire for new product development projects
  3. Identify a specific product category of interest
  4. Gauge a willingness of the Original Equipment Manufacturer (OEM) to sign a Non Disclosure Agreement (NDA) prior to patent issuance
  5. Obtain manufacturing directories in order to contact manufacturers not necessarily in attendance at specific trade show event
These are the critical four elements in qualifying a licensing candidate for each new invention. Corepro will not release any client information without a signed NDA, Confidentiality Agreement or an Notice of Issuance for patent and ribbon copy from USPTO.

Q.  Will Corepro negotiate with a manufacturer on my behalf?

A.  We make every effort to understand our clients expectations and goals.  Generally, most new inventors want some percentage of profits as a royalty, as well as, consideration money paid up-front as an advance against royalties.  When presented with a licensing offer, and letter of intent from a potential licensee, we take the time to explain the offer to each client - good or bad.  Afterward, the client will always make the final decision and determination as to accepting or declining any licensing offer.

Q.  Does Corepro utilize marketing and promotional materials?

A.  Most clients we consider representing come to us through a Knowledge Process Outsourcing (KPO) promotion company that has taken the time to prepare the necessary new product research.  Other clients are referred to us by registered patent practitioners and referral sources.  Once a client is accepted, we utilize a variety of marketing materials such as password protected web pages, 2D graphic renderings and 3D CAD data for prototyping, if and when they are deemed necessary for manufacturing.  We also participate in the preparation of sell sheets and AVI animations which create the "bells & whistles" that help generate excitement for an invention.  Internal marketing materials may included press release campaigns, letters of introduction, marketing through various publications and online marketing strategies using social media.

Q.  Does Corepro practice sound confidentiality and protect my invention?

A.  Corepro reviews and accepts only specific inventions for which a patent application has been applied for with the United States Patent and Trademark Office.  We require the application data sheet, filing receipt, correspondent agent form (power of attorney) with the registered patent practitioner's contact information in order to verify patent pending status.  We also require execution of a letter of intent and Non-Disclosure Agreement before disclosing any client information.  You may review our Privacy Policy in the Terms & Conditions section of this site.

Q.  Can Corepro minimize online Internet security risks?

A.  Technology has advanced at lighting speed due to bandwidth, software advancements , personal electronic "smart" devices and social media.  Many of today's online security "threats" on the Internet didn't exist a few years ago.  As an online security precaution, Corepro may substitute online web page promotion and instead deliver electronic information about an invention through alternative electronic or digital medium such as CD,  USB Devices or other portable storage devices, or File Transfer Protocol (FTP) deliveries.  Every effort is made to minimize the threat of "fishing" sites, viruses and online piracy.