10 Steps to Bring a Product to Market - Licensing
Step 8 - Prepare a Preliminary Licensing Proposal

Before you approach your licensing candidates, you want to be clear on what terms your idea will be licensed and what percentage of sales you want to receive. You can license your idea to just one company, which is an exclusive license, or to many companies, which is a non-exclusive license. You will also want to determine what exactly you are licensing: either the product or the technology. Be clear on what you want but still be willing to negotiate -- just remember to protect your future rights to the idea. For instance, if you license just your product, then any advancements will exclude you from royalties, but licensing the technology could have you receiving royalties for many years.

Need Help with this Step?

We can advise you on many of the major points involved in a licensing deal, tell you what to expect from companies and provide you with a draft of a preliminary proposal. This service costs $150. For more information or to request this service, contact info@onestopinventionshop.net.

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