Many inventors dream about licensing (renting) their intellectual property, usually the patent and trademark, to a company that will manufacture and sell the product for them. The inventor dreams about receiving a check every quarter and drinking cute drinks on the beach somewhere.Licensing is possible but it does take time and a lot of work to get the job done. First, you have to understand that companies license (rent) Intellectual Property not ideas. Second, your ability to get a good licensing agreement is directly related to how good your patent is. Third, you have to prove yourself in the marketplace.
Once you understand this, you will have a better chance of being successful; and you are ready to take the next steps. Find a licensing agent you like and trust. Many licensing agents will share in the royalties rather than taking money up front. This is a better option for most inventers who are “bootstrapping”.
So what does a licensing agent do for you that you can’t do yourself? The worst person to negotiate for the inventor is the inventor him- or herself. Ever hear the quote “The person who represents himself, has a fool for a client”? It is the same when it comes negotiating with big companies. The inventor is too passionate about the product and frequently misses the business nuances that are being discussed at the table.
At FLeCusa International, we serve as your licensing agent and help you to identify potential companies who might be interested in licensing your product. In addition, we will travel with you, or, if you prefer, for you in your visits to potential licensees. We educate you about the process and help you negotiate the agreement so that you aren’t the victim of big business down the road. Contact us to learn more. You may contact us via e-mail by clicking here or you may reach us by phone at (303) 910-8889.