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FEB Author: Michael Neuvirth | Comments(0) | Recommend

IP Deal Making Tip (1 of 101)

 

As you can see from the title, we plan on providing at least 101 deal making tips for your IP related ventures. Our very first tip is:

It is better to negotiate the right deal badly - then the wrong deal well!

For example, if you decide to sell your patent, it is better for you to negotiate "badly" with a deep pocketed firm that has a track record for paying big money to inventors - then to hammer out a great agreement with a finder who may not even sell your patent in the end.

Another example, suppose you want to license your patent. Is it better to negotiate "badly" and agree to a lower royalty rate with someone who will champion your invention inside the company or to get the rate you want and then find out that the person you dealth with does not have enough clout in the company to push your invention?

I think you get the picture



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