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transfer of a patent
Posted by . updated on 5/6/2009
I am trying to sell my patent in its entirety to a business. Do I have to use an attorney to do so?
Answers (5)
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Mehran ...
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I have done this. Mine was very complicated; a 35 page legal contract. I ended up paying 16K tax deductible money but was worth it. In the process I changed my initial attorney. Be wise who you choose; not all attorneys are created equal! Mine was well worth it; although he did refuse to negotiate selling price nor gave me an opinion if what I was getting was fair or not. Selling a patent is as hard as getting it. Good luck.
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Daniel ...
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You don't have to use an attorney for anything.
If you know what you are doing, you could litigate pro se, or negotiate either the sale or license of your patent and/or technology. In practice, however, it is better to have a good IP attorney negotiate the deal for you. First, he or she could demand better or tougher terms, without souring the relationship with the company. Second, there are many legal pitfalls, and most of them you would realize only when it is much too late to remedy the situation. Third, you should consider whether purchasing business has attorneys, either in-house or an outside counsel, that advise it on this transaction. (Don't bring a knife to a gun fight!)
Hope this helps.
Daniel Basov
Solton Rosen & Balakhovsky LLP
110 Wall Street, 11th floor,
New York, NY 10005
212-344-1744
daniel.basov@srblaw.net
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Sanaa T...
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No, you do not need an attorney to do so, but it is always better to check things out with an attorney so as not to come across any pitfalls later. Do check this video out: http://www.patentexpress.com/licensing-video/should-you-license-or-sell-your-patent_30_3.html
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Jonatha...
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You don't have to use an attorney, but if there are any limitations on the assignment or you are taking a note or are getting a royalty and need to protect your interest or your payments it would be advisable to consult an attorney. If you have more questions, please feel free to call me without obligation.
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Raymond...
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Generally, you are never required to use an attorney for any legal matter and always have the right to represent yourself in ANY transaction. The advantage to using an attorney who has education, experience and particular expertise in a certain area of the law is that they can advise you of the pitfalls and most advantageous manner of accomplishing your task.
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