Develop and protect your intellectual property, let someone else worry about taking it to market, and watch the royalties roll in. Present like a pro. Getting a company to license your invention from you is far from a simple task.
And if you properly prepare and equip yourself for the challenge, you have a shot to have the dream of landing that product licensing deal, and collecting royalties while the licensee does all the work and takes all of the risk.
The Products and Services section for our cycling rental business could start something like this: The innovation may reach more markets if the licensee is a large, well-funded enterprise.
As compensation for allowing another party to use its intellectual property, the licensor will receive a royalty. Timing matters Virtually any type of product can be licensed.
The licensor should be protected from product liability issues if the licensing agreement is properly written. Is price an issue? Will your operating costs be low enough to allow a reasonable profit margin?
They may only be licensed to manufacture or sell the product, or both; perhaps the licensee may only conduct additional product development. These manufacturers have a widespread reputation as mid- to high-level quality, unlike equipment typically found in the rental market.
If the company plans to be the low-cost provider, then describing specific brands of equipment is probably not necessary. Sign up to receive the StartupNation newsletter!
Although once the product has been created, the next important step is to create a business plan for actually licensing the invention. This article is for general informational purposes only, and does not constitute legal advice. Here are some criteria to consider when selecting a licensee and drafting a licensing agreement: Most of these offices will not accept any submission of a licensing opportunity for which a patent has not yet been issued.
Finding the right company or companies Do some research to determine what companies can best produce, market and sell your product or service.
Also, you can construct the license for specific circumstances; for example, the licensee may only distribute the product in three distinct geographic regions, may only use it for medical purposes, may only use it in certain industries or in certain products, etc.
The key is to be able to overcome the likely onslaught of negative responses the company will undoubtedly throw your way. Does the agreement guarantee a minimum or maximum royalty per contract period?
You may be able to license a product with just a prototype if it meets a clear market need in a convincing way. How will royalty payments be determined? For another take on how a licensing model might work, stop by this blog post. Since the typical customer seeks medium-quality equipment and excellent services at competitive prices, we will focus on providing brands like Trek bikes, Shimano footwear, and Giro helmets.Product names and service plan identifiers for licensing.
8/17/; 7 minutes to read Contributors. In this article. When managing licenses in the Azure portal or the Office portal, you see product names that look something like Office Enterprise mi-centre.com you use PowerShell v cmdlets, the same product is identified using a specific but less friendly name: ENTERPRISEPACK.
If you plan to sell a commodity item and the key to your success lies in, say, competitive pricing, you probably don't need to provide significant product detail. Business services—email, file storage and sharing, Office Online, meetings and IM, and more.
Starting a Business Product Licensing Basics that you have the financial capabilities to make the product a success, and that you have a marketing plan to sell the product at retail. "A strong. The business plan will include information such as a definition of the product, the reasons why people would purchase the product, the current context of the industry, the target companies for licensing the product, and the predicted profits from invention licensing.
nesses use IP for many different business purposes; basic licensing as discussed in this text is only one way to exploit IP. way a product looks such as a comput-er’s molding), and semiconductor mask Successful Technology Licensing Preparation for technology licensing ne.Download