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As Alvin says, it does depend on the product.
There are a couple approaches you can take:
Sell the concept outright.
You may not get what you think the true value is (dont mean to sound rude, but most people overvalue ideas, anyway!)
Licence the concept
Let someone else do the hardwork and you could get a lump sum and royalty payments
Work with a company
Join a company on an exclusive project basis, where you could get regular payments that grow with the projects success.
Do it yourself
The most work but potentially the most rewarding.
This does not necesarily mean personal investment or a lot of hard work.
You must weigh up the risk/rewards to fit your own requirements!
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