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   manufacturing under license, any advice ?
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   Author  Topic: manufacturing under license, any advice ?  (Read 3405 times)
RatPack
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manufacturing under license, any advice ?
« on: Sep 28th, 2005, 11:10am »
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I have an invention that at present has Patent Pending status. There is a large company that has seen my proto-type and has expressed interest in manufacturing and selling this product under a licensing agreement. My question is...is there a standart licensing contract used in these types of situations or are they all different ? I guess what I'm looking for is some type of template to work from. Also, is there a standard percentage amount that is paid to the inventor by the manufacturer, as in the inventor gets 5% of the profits from each unit sold ? Any advice on these issues would be appreciated. Also does anybody know of a good and reasonably priced licensing attorney whom has dealt with these issues before ?
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mike
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Re: manufacturing under license, any advice ?
« Reply #1 on: Sep 28th, 2005, 6:48pm »
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Rat,
 
What I found is that there is very little that is standard when it comes to licence agreements. There is however much on the web that you can research and the best free examples I found are state university license agreements. They are public info and usually very thorough.
 
With respect to legal, look to find someone that is an IP attorney close to where you live so you can arrange a face to face exchange of information. Legal help is a must.
 
Also read what others have had to say here in this forum and other sources. This will help you better understand the process and improve communication with your legal.  Good legal advise is expensive and so it is in your best interest to understand as much as possible.
 
As to % royalty, it is all over the board. When shopping for your IP attorney, look for one that has had experiemce with items such as yours and can help you determine an appropriate royality. Your LARGE company will appreciate that you have legal support and as such will likely start with a reasonable offer.
 
This is where the hard work starts !
 
Regards,
 
mike
 
 
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