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
Hi Thomas
If you have never been involved in the process of licensing before, or negotiated licensing agreements then go for advice from someone who has. In selecting this person, make sure you drill down as to what specific experience in licensing they have - not all IP lawyers will have deep experience in the licensing field. Having done one or two is very different to having done lots across lots of industries. A license is a complex long term agreement, and much value can be won or lost in the negotiations. Good luck!
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