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A prominent feature of our blog will be to answer questions submitted by our readers. Please feel free to submit your questions and we will answer them as quickly as possible.
Question: What is the biggest mistake apatentowner makes when licensing his invention?
Michael: Tough to come up with just one! Let me give you one from a successful deal I was involved in. Short answer - don't put time constraints on the licensor - let her work under her own time table. In my case, thepatentowner pushed me to pressure the licensor into closing the deal and wanted (heaven forbid) me to make an ultimatum - do it now or never. Thepatentowner pressed me, but I let the licensor get back to us in her own time, and yes it took a long time to close, but we did.
People are busy and licensors have their own very full plates before they are contacted by 3rd parties. Relax and work with your licensor without undue time constraints.
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