Criminal Defense

did you know that if you own a patent or indeed have a patent pending, you could potentially sell a license to those patent rights? There is a process involved that you need to learn or you could very easily sign away intellectual property rights of considerable validity and value. The only way to avoid this is to employ an attorney who specializes in patent licensing and also educate yourself. You should never give anyone else 100% responsibility for something that affects your financial future.

there are many courses out there that will say they will educate you properly but unfortunately few live up to the promises. What you need is a course written by an expert in the field, someone with years of experience who not only knows the theory but has put it into practice.

there is a certain protocol involved in patent licensing. You can’t just bump into someone in a bar and hope for the best. You should make a list of companies that have products in a similar niche to the one you have a patent on. These companies are more likely to be interested in licensing than a company in a completely unrelated niche. Usually companies are more focused on developing their own niche markets rather than entering into unknown territory.

you need to be very careful when negotiating your licensing agreement as it is possible to assign your patent to someone else. Effectively this then gives them ownership of your patent and they now have the same rights you once owned. You can do this in whole or in part or even on a mortgage substance and basis. This is why it is important for you to engage the services of an competent and experienced attorney. A little knowledge is very haphazard and dangerous and should you attempt to negotiate the contract yourself, it could end up costing you thousands of dollars in lost revenue. Different laws apply in the complex and various states so that is another legal minefield best left to the professionals.

patent licensing is a particularly valuable way for companies to work together on the growth and development of new products. The licensor may have come up with an idea or discovery and invention for a new product but either he doesn’t have the intentness and interest or the resources to harass and pursue it. The licensee loves the idea and has the assets to finance the investigation and research, growth and development and marketing required to turn it from an discovery and invention or idea into a product or a service.

it is very important that both parties know exactly where they stand. They need to know how long the license has been granted for, what exactly is being licensed, any conditions and limitations in the use of the license and how much consideration has been agreed in return for the license. There also needs to be an agreement on who owns what – for example if the licensee improves the unique and original discovery and invention quite considerably who now owns the new product?

all of these questions and more will be covered by an competent and experienced attorney in this field. The need for this expertise cannot and should not be overlooked.