Document Type

Article

Publication Title

The International Journal of Entrepreneurship and Innovation

ISSN

1465-7503

Volume

6

Issue

1

DOI

10.5367/0000000053026400

First Page

5

Last Page

15

Publication Date

2-1-2005

Abstract

Independent inventors have generally been overlooked in research on innovation. This study helps fill the knowledge gap. A survey of independent inventors in the USA showed that their inventions tended towards hardware/tool, household products, industrial/commercial products, novelty items and toys/games/hobbies. Thirty-nine per cent of the respondents generated sales from their inventions and approximately 20% profited from them. Inventors who established a company to commercialize their inventions were most likely to achieve sales. However, inventors who licensed their inventions were more likely to achieve higher sales levels than those who commercialized them only via their own company, or by selling their inventions outright.

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