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Jerome Lemelson made millions licensing his patents. We employ the same philosophy and methods as Mr. Lemelson.

The licensing plan
First, you need a be prepared to qualify your invention:

1. Do a SWOT analysis. Analyze and evaluate your intellectual property’s Strengths, Weaknesses, Opportunities and Threats. Be prepared to handle a licensee's questions and objections.
2. Develop and apply a strategy. Exclusive or non-exclusive? Limited to a certain field? Will your company also be selling the product? Will you be licensing a limited number of licensees or staging them in? What incentives will be offered?

With these two steps completed, you're ready to take action:

1. Find prospective licensees. Use the methods outlined in From Patent to Profit to locate potential partners.
2. Research candidates. Once candidates are identified, research them thoroughly.
3. Use your "retail summary" and new product summary as taught in the Quick Start Guide and From Patent to Profit.

Last, once you've found the right fit:

1. Prepare and send a term sheet. Outlines the basics of your license agreement.
2. Prepare a license agreement. After the term sheet is reviewed and accepted, download and prepare one of our license agreements and send it to the licensee.
Our license agreements are awesome. They are perfect for striking deals and making things happen. The ones members download are the same ones we use today in our partnering efforts.

Again, as always, do you want to trust an invention company to do this for you? With a success rate of 1/10th of 1%?

	There's only one good way to negotiate a license agreement Do you want to improve your chances of success and create new opportunities at the same time? Well, then the fact of the matter is...DON'T negotiate...instead (more)
	How to meet prospective licensees and save a fortune! This isn't rocket science. Smart inventors know exactly who to approach, how and when to approach them and when and where to meet...(more)