Profit from Your Idea: How to Make Smart Licensing Deals

Like most inventors, you dream of striking it rich – finding a company you can trust, hashing out a fair licensing deal, watching your idea hit the marketplace and then raking in the profits. But where do you find the right company? And how do you draft an agreement that will protect your interests? Profit From Your Idea (formerly titled “License Your Invention”) provides both the practical marketing advice and the legal licensing language you need to turn your invention into a moneymaker. Step by step, this book explains the key elements in a licensing agreement, from advances and royalties to the length of an agreement. It also explains complex concepts such as warranties, indemnity and reservation of rights – all in plain English. Learn how § understand the licensing process § determine your ownership rights § work with agents effectively § find potential licensors § show your invention while protecting your work § negotiate a fair licensing deal § draft your own comprehensive licensing agreement § understand, review and negotiate changes The completely updated 5th edition provides a new section on international licensing and expanded information on invention ownership rights for university and government employees.