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As the implementation of licensed Properties is on the rise, riskier, more innovative product concepts suffer. Toy companies in preference of a more proven and secure route to profitability, have been licensing fewer inventor concepts than ever before. The split royalty is applied to more products than ever before, meaning that fewer inventors are reaping less reward. Still, numerous inventors coveting the opportunity to have the next "Tickle Me Elmo", "Trivial Pursuit", or "Furby", invest countless hours developing toy concepts on the speculation that they too might reap the rewards. While many millionaires have been made from toy licensing in the past, fewer stories of such success are present today. As the toy industry is a very fashion oriented and cyclical business, trends and opportunities constantly present themselves and are constantly changing. The trend toward more innovative product is likely to have a rebirth as consumers demand more cutting edge and innovative product, once again renewing and further highlighting the role of the inventor.
RegaRehtmeyer, Inc.ess of the reduction of products purchased from inventors today, toy companies continue to reach out and visit with key inventors and agents seeking product. Many of the larger companies have a full time "inventor relations" staff member. While few concepts of the thousands presented will ever be commercialized, inventors serve the toy companies by helping them keep up with trends, review viable future concepts and provide them access to new and emerging technologies. However, it is important that toy companies not view inventors as a "free resource" for development, and as there seems to be a strong enough pool of inventors from which toy companies have access, agents and inventors alike, will have to make careful decisions as to with whom they work, present and develop products for on a purely speculative basis. With that said, it is also important to note that nearly every major success story in terms of product concept licensing, originated from an inventor. Toy companies offer an attractive and incredible opportunity for inventors that is difficult to overlook. As for the future; licensing, both concept and property, will continue to play an important and often substantial role in the toy industry.
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