Is your company trying to make a more concerted effort to look outside for new products? These days, most businesses are. Fact is, not all good ideas come from inside your company, and it’s smart practice to be on the lookout for innovations available to license. Not only does this strategy help you discover fresh ideas, it also can lead to a more cost-effective way of finding new products.

Unfortunately, new product ideas probably aren’t going to fall into your lap. Your company needs to take a proactive approach, methodically seeking out new ways to find product ideas. One good place to start is at trade shows and especially an invention trade show. Trade shows provide businesses with a lot of new ideas in one place. Many of the innovations exhibited at trade shows are available to license, so in the span of a day or two, you can view hundreds of potential new products.

Many of these types of events are actually specific to inventions seeking licensors or manufacturers. You never know…you just might find your next hit product.

Nicole Hait is director of INPEX

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