Pros/Cons - Licensing Agent, Invention Submission Co, Etc?

[olimits7]

Pros/Cons - Licensing Agent, Invention Submission Co, Etc?

by olimits7 » Tue Aug 10, 2010 6:00 pm

olimits7

White Belt

 

Posts: 6

Joined: Thu May 20, 2010 1:25 pm

Hi,

I’ve been reading a bunch of posts/articles online, and I’m getting confused with some terms regarding licensing that gets used a lot online and within the forums.

Can someone please explain what the differences are and pros/cons of the following? Are there any that I’m missing?

- Licensing Agent/Broker?
- Invention Submission Company?
- Licensing Attorney/Lawyer?

Do all the above get paid based on a “royalty contingency fee”, or do some get paid based on a “flat fee / hourly rate”?

Thank you,

olimits7

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[apapage]

Re: Pros/Cons - Licensing Agent, Invention Submission Co, Et

by apapage » Sat Aug 14, 2010 1:01 pm

apapage

Green Belt

 

Posts: 214

Joined: Tue Jun 23, 2009 6:30 pm

Location: NYC

Most invention submission companies are scams. They want lots of money up front and % of royalty, and have little success. Only work with companies/brokers to license your invention on commission. The attorney is the one that will draft and negotiate the license agreement.

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