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will licensee fund all research and development...
Posted by Anonymous . updated on 2/26/2009
required to create product?
in other words, can I simply think of the idea, patent, and license it to others whom will do the rest of the work necessary?
thank you so much
Answers (2)
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Kaitlin
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Judging from the title of your post, it sounds like you're thinking more along the lines of a joint development agreement where you provide the main idea and the other party continues the R&D providing the materials and work. Such agreements can be negotiated, usually subject to a nondisclosure agreement. The joint development agreement should provide for who would be the owner of the resultant patent, if any, and address how the rights would be licensed.
You really should speak to a good patent attorney to whom you can disclose your information to see what your options are.
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Criteri...
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Most larger companies will do their own research and development before taking any product to market anyway, regardless of what you bring to the table. That said, the more research and development you can do yourself, the better that can bode for your licensing prospects. You don't need to go overboard, and well technically you don't need to do anything, but you do ideally want to convince a potential licensee that you are committed to the invention and are not likely overlooking any unforeseen downfalls related to your invention's marketability.
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