The Intellectual Property Law Server

Welcome, Guest. Please Login or Register.
Dec 16th, 2019, 2:38am

Forums Forums Help Help Search Search Members Members Calendar Calendar Login Login Register Register
   Intellectual Property Forums
  
  
Assignments and Licenses
(Moderators: Forum Admin, JimIvey, JSonnabend)
   Royalty Rates
« Previous topic | Next topic »
Pages: 1 2 3 4 5 6 7  Reply Reply Send Topic Send Topic Print Print
   Author  Topic: Royalty Rates  (Read 11013 times)
mike
Newbie
*




   


Posts: 49
Re: Royalty Rates
« Reply #5 on: Aug 3rd, 2004, 4:17pm »
Quote Quote Modify Modify

W,
 
I have been interviewing lawyers over the past couple of weeks. I expect to make a selection by the end of this week.  
 
Is it better to start with the potential buyers agreement or my agreement ? Please explain.
IP Logged
W
Guest
Re: Royalty Rates
« Reply #6 on: Aug 3rd, 2004, 5:18pm »
Quote Quote Modify Modify Remove Remove

Could you explain a little more? Typically, two parties meet and discuss what they want; then their lawyers call each other over the phone and hammer out any differences. There may be a few more meetings to work out any particulary troublesome areas, but overall that's how it works.  
 
-W
IP Logged
mike
Newbie
*




   


Posts: 49
Re: Royalty Rates
« Reply #7 on: Aug 3rd, 2004, 7:27pm »
Quote Quote Modify Modify

W,
 
OK, here is the scoop: I do not know what I am doing !
 
 I think this is the best way to start: I applied for a patent on a dare by my wife. The patent was granted and I started sending out sales flyers.  
 
Of the 20 or so flyers, I have several nibblers but 3 hard takers. The hard takers have asked for my terms.  
 
Since I filed the patent app with out legal assist, and I have no business experience, I was not prepared when the hard takers asked for my terms.  
 
At this point my options appear to be:1. compose my own agreement with the help of legal, or ask the hard takers to submit an offer that I can take to legal to review.
 
So, which do I do ? Pay legal to compose a "in my best interest" contract or ask the hard takers to submit an offer.  
 
Any advise ?
 
IP Logged
W
Guest
Re: Royalty Rates
« Reply #8 on: Aug 3rd, 2004, 9:24pm »
Quote Quote Modify Modify Remove Remove

Find out exactly what the hard-takers want (there are many, many different types of licensing), then call in your lawyer. He'll handle everything from there, and put you in the best position.  
 
-W
IP Logged
W
Guest
Re: Royalty Rates
« Reply #9 on: Aug 3rd, 2004, 11:07pm »
Quote Quote Modify Modify Remove Remove

You probably want to go it alone right now (finish the job so to speak), but now you need to decide what you love more: money or pride.  
 
Me? I'd pick the money aspect. If you have a patent of any worth (which you undoubtably do), having that much extra money in your pocket at the end of the day will soothe any ego.
 
Let's admit it: lawyers are the best at what they do (making other people pay). They have it down to a fine art. And nothing is going to kill your pride more than wondering for the rest of your life if you could have gotten more.
 
I mean no disrespect with regard to your negotiation skills, I am simply offering my take on the situation.
 
Best of Luck,
-W
IP Logged
Pages: 1 2 3 4 5 6 7  Reply Reply Send Topic Send Topic Print Print

« Previous topic | Next topic »
Powered by YaBB 1 Gold - SP 1.3.2!
Forum software copyright 2000-2004 Yet another Bulletin Board