Everything You Need to Know Patent licensing is an agreement between a patent owner and a licensee to transfer interest in a patent to a licensee and enforce intellectual property rights.
A business plan is a mechanism to ensure that the resources or assets of a business are applied profitably across all its activities for developing and retaining a competitive edge in the market place.
Putting together a good business plan takes a lot of work. A business plan can be used for a variety of purposes: To examine the feasibility of your business idea: A written business plan forces a company to think through all the key issues - such as the potential demand for its products or services, the nature of the competition, entry barriers, the unique selling proposition of the new or improved products or services, resources required, critical employees, relevant technologies and strategic partners, raising funds, projected start-up costs, marketing strategies, and the like.
To access start-up services and financing: Business incubators and potential investors and lenders require well-formulated and realistic business plans.
To provide strategic guidance: A business plan is a reference point providing you and your management team with an objective basis for determining if the business is on track to meet the goals and objectives in the time frame set and with the available resources.
Why should intellectual property be integrated in your business plan? New or original knowledge and the creative expression of ideas is the driving force of successful businesses in the 21st century. Therefore, safeguarding such knowledge and creative expression from inadvertent disclosure or its unauthorized use by competitors is becoming increasingly critical for developing and retaining competitive advantage.
Building a business also requires various types of other resources, including a network of relationships and sources of funds. The intellectual property IP protection system provides a key tool for 1 keeping at bay unscrupulous competitors, 2 developing relationships with employees, consultants, suppliers, subcontractors, business partners and customers, and 3 obtaining funds.
To be accepted by a business incubator or to attract investors, it is necessary to have a quality business plan that takes an objective look at the prospects of the proposed business.
Most entrepreneurs would argue that the product they are offering is innovative, unique, or superior to the offerings of competitors. But is this really so? If you believe it is, you will have to prove it, and a patent or the results of a reliable patent search may be the best proof of novelty you can get.
Trade name, trademarks and domain names may be the prime elements that differentiate your product from those of competitors.
Therefore, your proposed trade name, proposed trademark sand proposed domain name s should be carefully chosen and the steps taken to register these should be referred to in your business plan.
In some high-tech sectors the risk of infringing on third party IP rights is high and start-up service providers and investors may be reluctant to take the risk unless you can prove e. For many businesses confidential business information such as details of production, secret inventions, and technical, financial and marketing know-how alone may be the source of their competitive advantage.
In such circumstances, it is important to communicate to start-up service providers and investors that your enterprise has proprietary and significant business information - known as trade secrets - and that you have taken adequate steps to protect it from employees and competitors.
In short, if IP is an important asset for your business i. An adequate reference to the assets of a company and of its market opportunities should not only list the tangible assets e.Successful Technology Licensing Preparation for technology licensing ne- What is the business reason for this license?
How will this license agreement make money for each party? • A license (consent) to use a patent or copyrighted material or trade secret (or. Patent Licensing It can be challenging to manufacture and sell an invention.
It requires a business plan, financing, and in some cases product liability insurance. Gene Quinn is a Patent Attorney and Editor and founder of plombier-nemours.com is also a principal lecturer in the PLI Patent Bar Review Course and an attorney with Widerman plombier-nemours.com’s.
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Selling Your Patent: What You Need To Know. by Beverly Rice, Licensing Rights. Licensing the right to make, use, or sell your product is usually the most profitable route for inventors. Our legal plan allows you to consult with a network of independent attorneys about your patent, business, or other legal matters.
Find attorneys using a. You have the option of licensing the patent rights for your intellectual property to a company rather than starting your own business. A license is a formal agreement made between an inventor (the licensor) and a company (the licensee).
Complaints to USPTO. Under the American Inventor's Protection Act, since the United States Patent & Trademark Office (USPTO) has been accepting complaints about . Initial License Offering. In furtherance of its Ethical NPE™ business practices, iPEL is making an “Initial License Offering,” which is an innovative patent licensing program that . Patent licensing might be part of your business plan. You have to find a licensee or a manufacturer first, though. You have to find a licensee or a manufacturer first, though. Low Success Rate.