Signs You're Negotiating a Great Licensing Deal
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- Опубліковано 21 чер 2018
- Are negotiations going well? How can you tell? Stephen Key, licensing expert, shares information about negotiating licensing contracts. First: Please realize, negotiations take forever and are very stressful! These are the indications you are on the right track to a great contract.
inventRight is a one-on-one coaching program that has helped people from more than 40 countries license their ideas for new products. It was founded by Andrew Krauss and Stephen Key in 2001. Visit www.inventright.com for more information and to become their student.
Call #1-800-701-7993 to set up an appointment with Andrew or another member of the inventRight team to discuss how we can help you license your ideas.
New to licensing? Read inventRight cofounder Stephen Key’s bestselling book “One Simple Idea: Turn Your Dreams Into a Licensing Goldmine While Letting Others Do the Work.” Find it here: amzn.to/1LGotjB.
Want to learn how to license your product ideas without a patent? Stephen's book “Sell Your Ideas With or Without a Patent” explains exactly how. Find it here: amzn.to/1T1dOU2.
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"Negotiation takes a long time". So true! (self-experience)
Excellent advice Mr.Key, I have watch so many of your teaching videos and they are amazing. Unfortunately I am not in a position to to get help from your company but from what you have shared I took the first steps and so far so good. So thank you for taking the time for these videos. You rock!!
Thank you for the kind words! Wishing you well! If you haven't read Stephen's book "One Simple Idea," we highly recommend it.
You guys are great. Thank you so much!
Thanks for watching!
good tips my man
Thanks
This was super helpful! Is there any material on how to find out the range of what percentage royalties would be acceptable case by case?
i love your channel , im watching alot of your videos all the time ( subscribed awhile ago) & i even have your book on amazon audible i listen to , while i'm learning Autodesk product design & manufacturing suite as a mature age student & im getting more & more excited as i always have lots of ideas popping into my head , might be a dyslexic thing (-:. so once i find company/s that are interested in licensing an idea , are there reputable professional people out there that can help the licensing negotiation (by hourly rate or per job) seeing its your first time , do you offer this service of know of people in various country's ( im in Australia ) unless they can do do it via zoom or conference calls ?
Steven, what is your advice with negotiating a deal with a company willing to broker your licensing deals?
I would think that making your own license agreement benefits you more than it does them.
💗
I`m glad I`m finally having these problems! (good problems hoho). company finally has interest with my idea, and is asking me if they can do one-time payment instead of licensing. how do I move forward if they have the last bad sign Stephen mentioned (haven`t done one and wanted me to supply the LA)?
This happens all the time. Unfortunately the one time payment is always a little low.
But heck, if you have lots of ideas, please consider it. thanks for watching and contributing. Please subscribe if you haven’t already. Thank you so much.
@@inventRight Thank you always for the sound advice!
Great video as usual.
Out of curiousity, could a company say something along the lines of, they reserve the right to terminate the licensing agreement? Bad sign I suppose
Also, what happens to a licensing agreement if in the middle of its term it is bought over by another company?
Thank you
Hammering out the answers to these questions is what negotiating is all about.
That's why we should start licensing for the first time a very small idea in order to learn how the process works :=))
When you say they send you over a bad licensing agreement, how do you define what is bad? What metrics do you use?
Included in Stephen's new book "Become a Professional Inventor" is a lengthy and detailed chapter about negotiating licensing agreements. It directly addresses these questions in full. Check it out: www.amazon.com/gp/product/1653786256/
USPTO has confirmation letter,can I put on a sell sheet ppa pending or wait for more information
esther mercado you can put Patent Pending on it.
You're patent pending! :)
If some of the signs are not quite what I want but it is the Only offer that I get, Should I still go for it?
That's a tough question James. You know we can't give you good advice without knowing more! Are you continuing to reach out to other potential licensees?
How do I become a student? Thanks Joe Bisping
We have two different programs for people who want to work with us. Contact our office at your convenience to learn more: www.inventright.com/contact
You mention at 3:37 "Find somebody that will help you, and we do that". Do you as a company help people get license deals for patented products??
Yes. Learn more about the inventRight 10-step process for licensing an idea, and our coaching program: www.inventright.com/coachingmenu/bootcamp-coaching
When I contact companies, I have a modification to make a current product on the market much better. I made the whole thing in a 3d program and the item isn't exactly like the different variations on the market.. Many companies make diff versions of it. Should I contact the company that makes these items (manufacturer) or companies that sell them? Like a big brand sells many items under its name but they dont make the products.. Does that make sense?
Sometimes the same people in most situations.
You have a few options for all of your questions.
Go to your local inventors group.
Find a mentor.
Hire a consultant or coach.
Can I pay you to represent me with an upcoming licensing deal?
You can pay us to coach you and we will guide you ever step of the way. Book here to talk to an advisor. www.inventright.com/contact. -Andrew Krauss, inventRight Co-Founder
So wait ...why is it bad if they want you to provide the licensing agreement?? ...you could then provide a beneficial yet fair agreement???
Hi Gilbert, It’s better to get their contract (companies you are licensing to) and modify it as the deals flow better that way. We've learned this over the last 21 years of helping inventors close deals at inventRight. - Andrew Krauss, inventRight Co-Founder
please help