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everybody Steven key here thanks for watching subscribe down below tell all your friends Im here to show you how to license your ideas and todays topic is what is licensing first of all the traditional way thats been taught and universities in fact everybody thinks this is the way to launch a product and it has been in in the past is that Im going to start a business Im gonna raise capital Im gonna do all the manufacturing Im gonna do all the marketing Im gonna do all that distribution Im gonna do it all and yeah thats called venturing and thats been around for a long long time but today I want to talk about what is licensing because some people still dont quite understand it Im gonna make it simple for you licensing is basically you come up with an idea you show it to a company thats looking for ideas from us and they rent it from you they dont own it they rent it and every time they sell one in the store on their website guess what you collect a royalty on the wholesal