Profit From Your Idea: How to Make Smart Licensing Deals

Overview

License your invention without the risk — protect your idea!

You've invented a great product and it's time for the next step. However, if you present an invention to a prospective buyer or licensee, it's no secret that your idea can be stolen. How can you draft an agreement that protects your interests?

Turn to Profit From Your Idea to help you create, modify and understand nondisclosure agreements specifically for inventors. In ...

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Profit From Your Idea: How to Make Smart Licensing Deals

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Overview

License your invention without the risk — protect your idea!

You've invented a great product and it's time for the next step. However, if you present an invention to a prospective buyer or licensee, it's no secret that your idea can be stolen. How can you draft an agreement that protects your interests?

Turn to Profit From Your Idea to help you create, modify and understand nondisclosure agreements specifically for inventors. In addition to providing sample agreements and practical advice, this all-in-one guide helps you:

 understand the licensing process determine ownership rights work with agents effectively find potential licensees publicly show inventions without the risk negotiate a fair licensing deal draft a comprehensive licensing agreement deal with international licensing

Disclosing your invention requires a balancing act: Presenting the best aspects of your invention while protecting the confidential aspects of your work. Use Profit From Your Idea to help you effectively maintain the necessary balance and minimize the risks of disclosure. The fully updated 7th edition comes complete with the latest licensing case law and includes brand new FAQs, many from the author's popular blog, Dear Rich: Nolo's Patent, Copyright & Trademark Blog.

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Editorial Reviews

From the Publisher
“Tells prospective entrepreneurs how to move an idea ‘from thought to bought’—and roughly what inventors can expect to get in a licensing deal.” - Los Angeles Times

“Tells inventors everything they need to know to enter into a solid licensing agreement." - Electronic News

“Gives detailed instructions on working with manufacturers, marketers and distributors...”- Baton Rouge Advocate

Book News
With an array of forms on disk, in combination with the insights of intellectual property attorney Stim, inventors can hold onto the titles and profits of their inventions rather than sell out to companies.
Los Angeles Times
Tells prospective entrepreneurs how to move an idea 'from thought to bought' -- and roughly what inventors can expect to get in a licensing deal.
Electronics Now
Tells inventors everything they need to know to enter into a solid licensing agreement.
Baton Rouge Advocate
Gives detailed instructions on working with manufacturers, marketers and distributors, and addresses issues on copyright and trademark laws, ownership, finances and much more.
San Francisco Chronicle
Excellent . . .
San Francisco Chronicle
Excellent...
Baton Rouge Advocate
Gives detailed instructions on working with manufacturers, marketers and distributors, and addresses issues on copyright and trademark laws, ownership, finances and much more.
Book News
With an array of forms on disk, in combination with the insights of intellectual property attorney Stim, inventors can hold onto the titles and profits of their inventions rather than sell out to companies.
Electronics Now
Tells inventors everything they need to know to enter into a solid licensing agreement.
Los Angeles Times
Tells prospective entrepreneurs how to move an idea 'from thought to bought' -- and roughly what inventors can expect to get in a licensing deal.
Creative Media Law Group
Thorough, accurate and well presented... This book is a tremendous asset for an inventor with the desire and inclination to do it yourself.' As an intellectual property attorney specializing in licensing transactions, I have enjoyed paging through this book and brushing up on a variety of issues, and yes, even learning a thing or two!
— Greg S. Weber, Esq.
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Product Details

  • ISBN-13: 9781413313253
  • Publisher: NOLO
  • Publication date: 1/2/2011
  • Edition description: Seventh Edition
  • Edition number: 7
  • Pages: 432
  • Sales rank: 974,536
  • Product dimensions: 7.00 (w) x 8.90 (h) x 1.10 (d)

Meet the Author

Richard Stim specializes in small business, copyright, patents, and trademark issues at Nolo. He practices law in San Francisco and has represented photographers, software developers, crafts people, publishers, musicians, and toy designers. He is the author of many books, including Whoops I'm in Business, Music Law, and Profit From Your Idea. Stim also produces audiobooks, and performs and records with two bands, MX-80 and angel corpus christi.
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Table of Contents

1. Gearing Up to License Your Invention  Licenses Assignments The Licensing Process Avoiding Conflicts Among Multiple Agreements Challenges to Your Ownership Transferring Ownership of Your Invention to Your Business Disclosing Information About Your Invention Keeping Your Records No False Hopes! Reviewing Your Invention’s Commercial Potential 2. Intellectual Property Protection  General Rules for Legal Protection of Inventions Utility Patents Trade Secrets Trademarks Design Patents Copyright Law Sorting Out Nonfunctional Features: Design Patents, Product Configurations, and Copyright 3. Ownership Issues for Inventor Employees  What Type of Intellectual Property Is Involved? Employer/Employee: Patent and Trade Secret Ownership Inventions Covered by Copyright Special Employment Situations Working Out Ownership Issues With Your Employer 4. Invention Financing and Joint Ownership  How Much Money Do You Need to License Your Idea? Sources of Funding Joint Ownership How Payments, Loans, or Investments Can Create Joint Ownership The Joint Ownership Agreement 5. Licensing Agents and Representatives  Agents Completing the Agent Agreement Attorneys as Agents Invention Marketing Scams 6. Soliciting Potential Licensees  Before You Begin Your Search How to Find Potential Licensees How to Overcome a Licensee’s Bias Against Submissions What’s the Best Way to Solicit a Potential Licensee? Product Presentations Should You Solicit Foreign Licensees? 7. Protecting Confidential Information  Confidential Information and Nondisclosure Agreements Proceeding Without an Agreement Waiver Agreements When You Have Sufficient Bargaining Power Disclosing to Employees and Contractors Disclosing to an Attorney 8. The Key Elements of Your Agreement  From Handshake to License Identifying the Parties Describing Your Invention and the Licensed Products Specifying Which Rights Are Granted Defining the Territory Setting the Length (Term) of the Agreement 9. Money: It Matters  Some Basic Royalty Definitions Ways to Get Paid The Mysteries of Net Sales and Deductions How Much Do You Get? Royalty Provisions 10. Negotiating Your Agreement  What, Me Negotiate? Documenting the Important Contract Elements Letter of Intent Option Agreements What If the Licensee Wants to Proceed Without a Written License Agreement? 11. Sample Agreement  License Agreement Optional License Agreement Provisions Modifying the Sample Agreement for Your Needs 12. Warranties, Indemnification, and Proprietary Rights Provisions  Promises, Promises … Warranties, Representations, and Covenants Indemnity: The “Hold Harmless” Provision Licensee Warranties and Indemnity Proprietary Rights Commercialization and Exploitation Samples and Quality Control Insurance 13. Termination and Posttermination  Termination and Posttermination Termination Based Upon a Fixed Term Termination at Will Termination Based on Contract Problems Termination and Bankruptcy Posttermination: What Happens Afterwards? Survival of the Fittest 14. Boilerplate and Standard Provisions  Paying the Lawyer’s Bills Dispute Resolution Governing Law Jurisdiction Waiver Severability Entire Understanding Attachments and Exhibits Notices No Joint Venture Assignments Force Majeure Headings Establishing Escrow Accounts 15. Service Provisions  Service Provisions Versus Separate Service Agreements Training the Licensee’s Personnel Installation of Equipment Technical Support for the Licensee or for End Users Improving, Modifying, and Delivering the Invention 16. Handling the Licensee’s Agreement  Dealing With Suggested Changes Evaluating an Agreement Presented to You Evaluating the Provisions and Suggesting Changes 17. After You Sign the Agreement  Create Your Contract Calendar Dealing With Royalty Statements Resolving Licensing Disputes Avoiding Patent Misuse and Illegal Agreements The Taxman Cometh Quality Control 18. Help Beyond This Book  Licensing and Intellectual Property Resources Working With an Attorney Appendix: How to Use the CD-ROM  Installing the Files Onto Your Computer Using the Word Processing Files to Create Documents Listening to the Audio Files Files on the CD-ROM  

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