What Is a Licensing Agreement?
A licensing agreement is a contract between the inventor and a manufacturer, in which the inventor grants the exclusive rights to create and market the product or invention that the inventor created and where the manufacturer pays the inventor some form of compensation. These contracts are highly negotiable and can be a flat fee or performance based. 7. HOW DO I NEGOTIATE A LICENSING AGREEMENT? Once again the inventor has options. They can negotiate by themselves, with attorneys or through an agent. It is not advisable to try to negotiate by yourself unless you thoroughly understand the legal language contained in the agreement. Working with an attorney and working with an agent are for the most part the same thing. The agent however will assist in more than just the licensing negotiations. Most agents utilize either in house legal representation or they use independent law offices to provide the expert opinion and drafting of licensing agreement. 8.
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