Invention licensing is the process of leasing a patented or patent pending product to a company who can manufacture and distribute it.
Licensing is a marketing and brand extension tool that is widely used by everyone from major corporations to small businesses to independent inventors. Licensing can extend a corporate brand into new categories, areas of a store, or into new stores overall.
In a well-run licensing program, the inventor reaps the benefit by collecting royalties on their invention without ever personally making a major investment in manufacturing, marketing and distribution.
How Licensing Works:
- First, ensure patent protection is likely by performing a patent search.
- If patent protection is likely, file a high-quality patent application.
- Persistently market the invention to potential licensees.
- When interested companies positively respond – Negotiate the Licensing Agreement.
- The licensee makes and sales your product, and then pays you a royalty for every unit.
The team at Inventor Process, Inc. can assist you with patenting, marketing and negotiations. Helping inventors is all we do!