Question
Hello everyone!
Many thanks to everybody who has provided insight into previous questions! Just because it has been asked, let me start with it: we are a startup company operating out of Germany, but we are not limiting our business to the German market.
We are still in the process of creating our product and, consequently, our portfolio of IP. As an option for increasing our revenue stream, we would like to explore opportunities of licensing/selling our technology to partners in major foreign markets, chiefly in North America. What is the best way to approach this endeavour? Should we just talk to potential partners directly, or is it better to go through a consultancy or law firm?
Thank you
Answers: 3 public & 0 private
As an IP broker, I'll give you the basic steps
#1 IP audit, someone like myself would review all the intangibles identifying which are alienable (aka legal title able to be assigned or licensed)
#2 preferably get an independent valuer ... this involves paying for market research unless it is a blue-ocean play
#3 use firms such as Foresight Sci&Tech or equivalent who knows what companies are looking for what ... alternatively you can try a DIY route of posting to the various IP catalogs around the world
#4 identify prospects, engage in negotiations, come to terms
#5 execute the deal
Don;t underestimate the complexity of each stage, this is not selling software but akin to selling a house or leasing a shop and if you are talking big amounts of money, people take it seriously. You can DIY but your millage will definitely vary, depending on the deal, law firms can take up to 40% (I've figures from AUTM).
Recent questions
I am looking for ...
3 6115 2