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Companies Will Pay For Your Utility Patent?

Postby Curious George » Mon Jul 19, 2010 5:18 pm

Curious George
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Location: Halifax,Nova Scotia (Canada)
If you file a Provisional Application and approach a company with your pat. pend. status(new product) and they are interested, is it unrealistic to assume that they would sign a licensing agreement with the condition that they absorb the cost of filing the Utility Patent.At what point would you ask for this and what would be the most professional way of going about this? Thank you

Re: Companies Will Pay For Your Utility Patent?

Postby Roger Brown » Wed Jul 21, 2010 5:07 am

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Roger Brown
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Location: USA
I do this all the time with my products that are licensed. The company licensing pays for the patent. I bring it up once they are interested in licensing the product and we start negoiating the licensing agreement.That way it can be put into the licensing agreement. Everyone knows and agrees upfront what each party is responsible for and what royalty percentages will be.
Come visit my sites at http://www.RogerBrown.net
or http://www.looking2license.com
I have gotten 9 products licensed spending less than $100 on each, you can too.

Re: Companies Will Pay For Your Utility Patent?

Postby Bizzy B » Tue Aug 31, 2010 8:18 am

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In this case, is the patent still only in your name with a separate licensing agreement for the use of your product? Even though they pay for it?

Also, when you license the product to a company, are they in complete control over the marketing etc of the product? Have you ever been unhappy with the efforts of the company?

Lastly, since you seem very experienced in this area, what does a good licensing agreement look like? What types of royalties are you happy to get? What is the royalty based on? Retail price? Price to manufacture? Is the licensing agreement for a short number of years or for an extended time period?

I am obviously still early in the learning phase of all this!! Thanks in advance for your input.