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Licensing
What is the least time consuming way to turn my investment in a patent application into a financial return? - I don’t have the finances to have my product designed and manufactured... how can I make money out of it?
- I know a number of companies that would love to get their hands on my technology but how do I get them to pay for it?
- This product needs to go global but where do I start?
Licensing your intellectual property is an effective way to quickly establish a return on investment and to leverage expansion of your business. A licence agreement is a contract in which the patent owner gives permission to a licencee to commercialise or use their technology in exchange for payments (e.g. in the form of a one-off payment, royalties or both).
However, negotiating a licence agreement is often a minefield and many entrepreneurs fail to maximise their returns by entering into licensing negotiations without properly preparing their negotiating positions and strategy.
In the article, "Making Money From Royalties" posted as a case study on IP Australia's website, Dr John Baxter our senior commercialisation advisor is interviewed by IP Australia about licensing.
Licensing Strategy Session
Pre-Requisites: Provisional Patent Application + International-Type Search
Baxter IP’s licensing strategy session is a very unique advisory service aimed at properly equipping entrepreneurs for the battlefield of licensing negotiation. In your strategy session, we will help you develop a licensing strategy that you can take with you to the negotiating table. Having a proper licensing strategy could easily improve your position by tens if not hundreds of thousands of dollars.
During the session, we will discuss issues in relation to your licence agreement, such as manufacturing and sales territories, licence fees, royalty rates, funding for intellectual property protection, exclusivity and associated key protection terms.
Licensing Brief
Pre-Requisites: Licensing Strategy Session
Baxter IP also offers a Licensing Brief service in which we prepare a Licensing Brief outlining your position on important commercial aspects of the forthcoming licensing negotiations. Once prepared, your Licensing Brief can be taken to an appropriately experienced intellectual property solicitor to simplify preparation of a licence agreement, normally reducing costs.