Developing a new product is one thing, but manufacturing it is something else. Many inventors have a great idea and the drive to develop it. However, when it comes time to manufacture and market the product, they’re operating outside of their comfort zone.
This is why many inventors choose to license their new product. Licensing a patent provides the inventor with remuneration for their months or years of effort while someone else takes on the burden of manufacturing the invention and bringing it to the marketplace.
Licensing deals are incredibly complex, and they may occur at any time during the development of a new product. If you have a great design for an invention, that may be all that the licensor needs to take the ball and run with it.
On the other hand, you may have gone so far as to build a working prototype. In this case, the licensor may put in less effort with further research and development, instead choosing to jump into manufacturing the product.
If you love coming up with innovative new products but don’t feel that your strengths are suited to manufacturing and marketing, then consult with Jeff Williams about a possible licensing deal.
He can provide you with guidance throughout the process as you negotiate with a potential licensor to ensure that you’re getting a fair deal. By reviewing draft contracts and suggesting helpful revisions, you can rest assured that you’ll get exactly what you deserve in any licensing agreement.
Potential licensors love to see that a new product is “patent pending.” With your application on file at the U.S. Patent and Trademark Office, you’ll be occupying a strong negotiating position right from the start.
Houston & Dallas/Fort Worth IP License Attorney
Our intellectual property (IP) licensing practice includes negotiating and enforcing licensing agreements on behalf of our clients. A license typically includes permissions and privileges that would be otherwise unlawful. Businesses enter into license agreements and generally waive the right to sue for conduct that would otherwise be actionable. As such, it is essential to safeguard against unfair terms and to balance the bargained for exchange.
Each licensing negotiation typically includes an initial relationship assessment, where each party discusses what could mutually benefit the other including grant provisions, territory of rights, future IP, limitations on sublicensing, royalty schemes, marking provisions, auditing rights, representations and warranties, challenge waivers, grant-back clauses, enforcement rights, choice of law provisions, and assignability of rights provided by the licensing agreement.
Our intellectual property licensing attorney helps clients by assessing and identifying the rights, duties, and obligations of each party while striving to get our clients favorable licensing terms that meet their end goals. We also help our clients architect exit strategies and provide expertise on what terms and obligations should survive after the licensing agreement terminates.
We offer a variety of different licensing related services including:
- Copyright licenses;
- Trademark and brand licenses;
- Franchise Agreements;
- Patent licenses;
- Technology/know-how licenses;
- Trade Secret licenses;
- Software licenses;
- End-user licenses;
- Beta software licenses;
- Open source licenses;
- Non-exclusive licenses;
- Exclusive licenses;
- Field-of-use licenses;
- Grant-back licenses;
- Compulsory licenses;
- Shop right licenses and agreements;
- Licensing audits; and
- Licensing enforcement actions.
Schedule a consultation with the Law Office of Jeff Williams to learn more about patent and intellectual property licensing.