Welcome to the Forum for InventorSpot.com, the most popular invention related website in the world. Read our welcome message, and sign up for an account to participate in our forums.
Moderators: Michelle, citizen, Scrupulous
3 posts
• Page 1 of 1
Companies Will Pay For Your Utility Patent?
by Curious George » Mon Jul 19, 2010 5:18 pm
- Curious George
- White Belt
- Posts: 15
- Joined: Fri Jul 02, 2010 7:57 am
- 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?
by Roger Brown » Wed Jul 21, 2010 5:07 am
-
Roger Brown - Brown Belt
- Posts: 887
- Joined: Mon Oct 30, 2006 2:53 pm
- 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 site at http://www.RogerBrown.net
Re: Companies Will Pay For Your Utility Patent?
by Bizzy B » Tue Aug 31, 2010 8:18 am
- Bizzy B
- White Belt
- Posts: 5
- Joined: Fri Aug 27, 2010 1:06 pm
Roger,
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.
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.
3 posts
• Page 1 of 1