Question
Hello everyone! We are team of three engineers who have created a new technology which we would like to sell to investors or larger tech companies. How should we do this in legal terms?
Answers: 2 public & 0 private
You probably want to pursue a patent for your technology. A patent is a valuable IP asset which may obviously be very beneficial and valuable to an investor and/or company. If the investor and/or company is in fact interested in your technology, you can assign the rights to the patent to them for a specified sum or license the technology to them or others.
Firstly determine clear ownership, assigning to a corporate holding entity including all documentation and any trade secrets. Prepare for due dilligence identifying what specific intangibles there are patents, copyright, trademarks. Try to determine an independent valuation by 3rd party. Then like any other sales process, identify prospects, pitch and prepare to close with either sale of the existing company (which may include your time) or exclusive licensing. Legalwise its a matter of making sure all the documentation, assignments, and contract of sale is airtight.
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