Profit From Your Idea: How to Make Smart Licensing Deals [NOOK Book]

Overview

It's no secret that inventors need to protect their secrets. If you present an invention to a prospective buyer or licensee, it can be stolen. The best way to protect yourself is with a nondisclosure agreement.



But it's not enough to ...
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Profit From Your Idea: How to Make Smart Licensing Deals

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Overview

It's no secret that inventors need to protect their secrets. If you present an invention to a prospective buyer or licensee, it can be stolen. The best way to protect yourself is with a nondisclosure agreement.



But it's not enough to hand a company a one-size-fits-all nondisclosure agreement and expect a signature. The company may request modifications to the inventor's agreement, supply its own agreement or actually require an inventor to give up claims of confidentiality.



This plain-English book helps inventors create, modify and understand nondisclosure agreements. In addition to providing sample agreements, it explains:

  • the laws concerning trade secrets and their limitations

  • the risks of proceeding without a nondisclosure agreement

  • the dangers posed by waiver agreements

  • what to do if a company won't sign an agreement

  • which modifications help the inventor and which modifications can hurt

  • the perils of disclosing to employees, contractors and attorneys

  • the meaning of each of the legalese "boilerplate" provisions in nondisclosure agreements



    Disclosing your invention requires a balancing act: Presenting the best aspects of your invention while protecting the confidential aspects of your work. With this book an inventor can effectively maintain the necessary balance and minimize the risks of disclosure.
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Editorial Reviews

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.
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.” Los Angeles Times
San Francisco Chronicle
Excellent...
Baton Rouge Advocate
“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.
Electronics Now
Tells inventors everything they need to know to enter into a solid licensing agreement.
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.
Electronic News
“Tells inventors everything they need to know to enter into a solid licensing agreement.” Electronic News
From the Publisher
“Tells inventors everything they need to know to enter into a solid licensing agreement.” Electronic News
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Product Details

  • ISBN-13: 9781413316070
  • Publisher: NOLO
  • Publication date: 12/16/2010
  • Sold by: Barnes & Noble
  • Format: eBook
  • Edition number: 7
  • Pages: 442
  • File size: 2 MB

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 Music Law, and Profit From Your Idea. Stim also produces audiobooks, and performs and records with two bands.
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Table of Contents


Your Legal Companion     1
Gearing Up to License Your Invention     5
Licenses     7
Assignments     11
The Licensing Process     12
Avoiding Conflicts Among Multiple Agreements     14
Challenges to Your Ownership     20
Transferring Ownership of Your Invention to Your Business     23
Disclosing Information About Your Invention     34
Keeping Your Records     35
No False Hopes! Reviewing Your Invention's Commercial Potential     36
Intellectual Property Protection     43
General Rules for Legal Protection of Inventions     45
Utility Patents     47
Trade Secrets     56
Trademarks     61
Design Patents     63
Copyright Law     64
Sorting Out Nonfunctional Features: Design Patents, Product Configurations, and Copyright     65
Ownership Issues for Inventor Employees     69
What Type of Intellectual Property Is Involved?     70
Employer/Employee: Patent and Trade Secret Ownership     71
Inventions Covered by Copyright     76
Special Employment Situations     78
Working Out Ownership Issues With Your Employer     81
Invention Financing and Joint Ownership     85
How Much Money Do You Need to License Your Idea?     87
Sources of Funding     89
Joint Ownership     97
How Payments, Loans, or Investments Can Create Joint Ownership     99
The Joint Ownership Agreement     102
Licensing Agents and Representatives     109
Agents     110
Completing the Agent Agreement     113
Attorneys as Agents     120
Invention Marketing Scams     121
Soliciting Potential Licenses     127
Before You Begin Your Search     129
How to Find Potential Licensees     130
How to Overcome a Licensee's Bias Against Submissions     134
What's the Best Way to Solicit a Potential Licensee?     136
Product Presentations     140
Should You Solicit Foreign Licensees?     142
Protecting Confidential Information     149
Confidential Information and Nondisclosure Agreements     151
Proceeding Without an Agreement     161
Waiver Agreements     163
When You Have Sufficient Bargaining Power     164
Disclosing to Employees and Contractors     166
Disclosing to an Attorney      166
The Key Elements of Your Agreement     169
From Handshake to License     170
Identifying the Parties     171
Describing Your Invention and the Licensed Products     172
Specifying Which Rights Are Granted     177
Defining the Territory     183
Setting the Length (Term) of the Agreement     185
Money: It Matters     195
Some Basic Royalty Definitions     197
Ways to Get Paid     200
The Mysteries of Net Sales and Deductions     204
How Much Do You Get?     206
Royalty Provisions     210
Negotiating Your Agreement     219
What, Me Negotiate?     220
Documenting the Important Contract Elements     222
Letter of Intent     225
Option Agreements     229
What If the Licensee Wants to Proceed Without a Written License Agreement?     236
Sample Agreement     237
License Agreement     239
Optional License Agreement Provisions     274
Modifying the Sample Agreement for Your Needs     279
Warranties, Indemnification, and Proprietary Rights Provisions     283
Promises, Promises ... Warranties, Representations, and Covenants     284
Indemnity: The "Hold Harmless" Provision     287
Licensee Warranties and Indemnity     293
Proprietary Rights     295
Commercialization and Exploitation     299
Samples and Quality Control     299
Insurance     300
Termination and Posttermination     303
Termination and Posttermination     304
Termination Based Upon a Fixed Term     305
Termination at Will     306
Termination Based on Contract Problems     306
Termination and Bankruptcy     308
Posttermination: What Happens Afterwards?     309
Survival of the Fittest     311
Boilerplate and Standard Provisions     313
Paying the Lawyer's Bills     315
Dispute Resolution     317
Governing Law     319
Jurisdiction     320
Waiver     321
Severability     322
Entire Understanding     322
Attachments and Exhibits     323
Notices     323
No Joint Venture     324
Assignments     324
Force Majeure     326
Headings     326
Establishing Escrow Accounts     327
Service Provisions     333
Service Provisions Versus Separate Service Agreements     334
Training the Licensee's Personnel     336
Installation of Equipment     337
Technical Support for the Licensee or for End Users     338
Improving, Modifying, and Delivering the Invention     339
Handling the Licensee's Agreement     347
Dealing With Suggested Changes     348
Evaluating an Agreement Presented to You     350
Evaluating the Provisions and Suggesting Changes     351
After You Sign the Agreement     363
Create Your Contract Calendar     365
Dealing With Royalty Statements     367
Resolving Licensing Disputes     370
Avoiding Patent Misuse and Illegal Agreements     372
The Taxman Cometh     375
Quality Control     377
Help Beyond This Book     379
Licensing and Intellectual Property Resources     380
Working With an Attorney     385
How to Use the CD-ROM     391
Installing the Form Files Onto Your Computer     392
Using the Word Processing Files to Create Documents     393
Listening to the Audio Files      395
Listening to Audio Files You've Installed on Your Computer     395
List of Forms Included on the CD-ROM     396
Index     397
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