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** In talks with a potential licensee - HELP! **

Postby AmrTen » Mon Oct 17, 2011 1:50 pm

White Belt
Posts: 8
Joined: Fri Jul 02, 2010 6:10 am
I've been at it all year trying to get the elusive licensing contract and a few months ago I finally got in-touch with the right contact at a large Multinational company.

After signing the NDA and showing her a video demonstration of my product, it's obvious she is interested.

FYI: The product is protected by a provisional patent

I'm kind of stumped as to how to proceed because my understanding of the process, from here on, is:

-show video, garner interest
-agree on general terms
-move to a licensing contract

After she watched the video she asked me what my claims are.

I replied, if you're interested we should agree on terms and then move to a more specific contract.

Then she replied that it's useless to move on if she doesn't understand those claims.

I understand her point, but surely her worries can be taken care of by a simple clause in the contract?

Also, isn't it premature to have open discussions about the claims at this stage?