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In this video, Stephen Key discusses licensing big ideas, showcasing various successful licensed products. He highlights the "whiskey wedge," a simple yet lucrative concept that has generated substantial royalties. Key also mentions the "glide mat," created by Michelle Morrison, which consistently sells out on QVC due to its straightforward appeal. Additionally, he introduces the "multi-gripped mandolin," aimed at improving kitchen safety while chopping vegetables. Through these examples, Key emphasizes the potential of simple ideas in obtaining licenses and achieving commercial success.