We are often approached by our clients asking, “How long does it take to negotiate a licensing agreement for my invention?”
Negotiating a licensing agreement can take a lot of time, months even. And that’s because it’s not always easy to come up with an agreement that satisfies your demands and the demands of your licensee. But what’s worse than waiting a few months to develop an effective agreement is rushing into one that you don’t fully understand or aren’t fully comfortable with.
Find someone to help you because it can be a little overwhelming. I recommend hiring an outside consultant who is familiar with the process. Be very cautious, but try to see everything from their perspective as well as your own. New Product Consulting has helped many inventors through the licensing process.
If you have an idea or invention you feel strongly about submitting to potential licensees please visit us at New Product Consulting.