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There are many existing patents that have been issued and are available for licensing by people just like you that are looking for new products. Many inventors are quite competent at coming up with new inventions, but are not good at marketing their inventions. As a result, there are many inventions just waiting for someone like you that needs new products.
Quite honestly, you can locate them yourself, but you should ask yourself; Why should I go through the learning curve to do it myself? You are going to have to learn what I already know how to do and in the end you are going to pay the Licensor (patent holder) the same thing that you would pay to have me do all the work for you. Here are the major things that either one of us must do:
- Perform patent searches to locate candidates for products
- Examine the results to determine if the candidates meet your criteria
- Find out if the patent(s) are already licensed or available for licensing
- Contact the patent holder(s) for candidates that are available for licensing
- Negotiate a licensing agreement
Some of the candidate patent(s) may be close to what you require, but require some tweaking to exactly fit your requirements. I can take care of that with the patent holder(s), but you will be required to pay for the changes and the filing fees.
You may do this yourself, but I always advise my clients to stick to their core competencies and leave the driving to us for new products and ideas. Especially when it is more cost effective for them.
When it comes time to negotiate a license agreement, I suggest that you engage a Patent Attorney to draft and negotiate the license agreement on your behalf with the patent holder(s) attorney. If you do not have a patent attorney, you may locate one in your geographic area by going to:
My compensation will come from a portion of the royalties that I negotiate with the patent holder(s) and will not cost you any extra. Your patent attorney should have access to industry standard royalty rates and he/she should negotiate within a few percentage points of the average for your industry on your behalf. When you are ready to contact me about new ideas and products click on:
You may attach a file located on your PC describing the products (ideas/inventions) that you desire.
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