Who knows about the famous "Make the hole bigger" envelope selling?
This (true?) story is about a person who sold an envelope for a 6 figures amount to a big FMCG corporation that made toothpaste.
The person offered to double the corporation's sales of toothpaste with the 4 words in the envelope. They agreed to pay, and discovered the words "make the hole bigger".
I'm looking for full details on this particular story, but also for advice / techniques / legal and contractual ways of performing similar deals, for example (but not limited to) in the telecom space.
Thanks in advance,
Leon
Good Answers (1)
Kenneth K
Serving the Legal Needs of Creative Professionals
Best Answers in: Intellectual Property (1), Sales Techniques (1), Professional Books and Resources (1)
Urban legand.
Links:
More Answers (5)
Joy M
building your business system so you can build your business
Best Answers in: Using LinkedIn (6), Staffing and Recruiting (2), Public Relations (2), Manufacturing (2), Professional Networking (2), Job Search (1), Mentoring (1), Occupational Training (1), Foreign Investment (1), Personnel Policies (1), Events Marketing (1), Business Development (1), Search Marketing (1), Writing and Editing (1), Corporate Governance (1), Planning (1), Philanthropy (1), Inventory Management (1), Supply Chain Management (1), Branding (1), Market Research and Definition (1), Engineering (1), Interface Design (1), Career Management (1), Ethics (1), Small Business (1), Databases (1)
When I heard it, it was a cleaning lady who was in the room while they were trying to figure out how to increase sales.
John W. C
Partner in Major Patent and Trademark Law Firm
Best Answers in: Intellectual Property (6), Business Development (1), Biotech (1)
This may very well be an urban myth, although it DOES make a nice parable. consider also the savings to the match company from putting only one striking surface on a box of matches, rather than two .... and more ...
Ed G
Patent Lawyer
Best Answers in: Intellectual Property (8), Starting Up (3), Business Plans (2), Staffing and Recruiting (1), Criminal Law (1), Corporate Law (1), Property Law (1), Distribution (1), Career Management (1), Blogging (1), Using LinkedIn (1)
I seriously doubt any executive of a major toothpaste manufacturer ever paid 4 figures for a "pig in a poke," and no telecom exec will, either. Such stories abound, but rational business people simply don't act so foolishly. If I thought it would be worth it, I might put some money in escrow, to be released to you when objective metrics indicate a doubling in sales that is strictly attributable to your idea, but you won't even get that without a strong track record and/or some other solid credibility.
As you will find when you try to shop ideas around, serious companies do not accept unsolicited ideas or suggestions. Even if you disclose it up front, the communication never makes it to an engineer - it is routed to legal, who send you a "no thanks" form letter and files it away, far from R&D's eyes. Offers to purchase an undisclosed idea get the same treatment. You generally need an issued patent in the relevant jurisdiction(s) to get your foot in the door.
Hamish T
Strategy Consultant & Coach @ www.shinergise.com
Best Answers in: Using LinkedIn (24), Personnel Policies (7), Career Management (7), Sales Techniques (5), Organizational Development (5), Staffing and Recruiting (3), Employment and Labor Law (3), Business Development (3), Business Analytics (3), Professional Networking (3), Internationalization and Localization (2), Advertising (2), Change Management (2), Commercial Real Estate (1), Customer Service (1), Facilities Management (1), Business Dining and Entertainment (1), Education and Schools (1), Mentoring (1), Occupational Training (1), Event Marketing and Promotions (1), Conference Planning (1), Accounting (1), Auditing (1), Budgeting (1), Government Policy (1), Compensation and Benefits (1), Offshoring and Outsourcing (1), Criminal Law (1), Intellectual Property (1), Direct Marketing (1), Internet Marketing (1), Public Relations (1), Customer Relationship Management (1), Writing and Editing (1), Labor Relations (1), Equity Markets (1), Hedge Funds (1), Non-profit Fundraising (1), Manufacturing (1), Packaging and Labeling (1), Supply Chain Management (1), Market Research and Definition (1), Communication and Public Speaking (1), Ethics (1), Business Plans (1), Blogging (1), E-Commerce (1), Computers and Software (1), Information Security (1), Web Development (1)
I believe that the Leprechauns Legal Practice LLP could give you great advice on how to do similar deals...
Jim H
Patent Attorney at Research in Motion Limited (home of the Blackberry)
Best Answers in: Intellectual Property (1)
It's an urban legend.
It plays into the mind-set of "why didn't I think of that?"
Jim.
