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In a thread with Stephen Key, he said this about a few of his products he licensed: "These were with the gift an novelty industry. I have talked about this before. Very short lived products. No protection. They are not inventions. This industry did not require patents." Now, because I have an idea in the novelty industry, I would appreciate it if someone with licensing experience could help explain why one does not need a patent (or provisional patent) for the novelty industry. If I went about all the other steps to license a product (contacting a company and sending them my sell sheet), but did not have a provisional patent, what stops the manufacturer from taking my idea? So basically I'm asking, how can I license my novelty idea to a company if no patents are involved? Thanks a lot.
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