Invent-Tech exercises the power of negotiation in Dust Stoppers licensing agreement…

March 22nd, 2006

Licensing agreements, which entail a company making a long-term commitment of their time and resources to an unproven commodity, are not simple to reach. As one might imagine, there is often a fair bit of negotiation on both sides, with the goal being an equitable and mutually beneficial relationship for the term that the agreement encompasses.

Our most recent licensing agreement (for the Dust Stoppers invention) was a prime example of this type of scenario. Our Manufacturer Response Team worked diligently to consider, negotiate, and incorporate the various modifications that the manufacturer requested to the original draft of the agreement.

Contrary to what may be popular belief, the “back and forth” in these types of situations is not always necessarily about something as exciting as royalty rates or acquisition fees. In this case for example, other components of the agreement of a more mundane but equally important nature, such as the state that holds jurisdiction in the case of any legal entanglements during the life of the inventor-manufacturer relationship, were the ones being discussed.

Overall, it’s important for inventors to remember that when a potential opportunity to have their invention commercialized without further expenditure of their time or money arises, displaying flexibility and trusting an experienced licensing negotiator with regards to which battles to pick can be extremely valuable.

Entry Filed under: Licensing News, Invent-Tech News