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How to License Your Product

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Written by Cindy M   



How to License Your Product

Intro: Learn how to license your product. A license is a grant of permission to allow another to make use of intellectual property rights.

 

Step 1: Locate manufacturers. Search for manufacturers that may be interested in your invention. Find companies which make products similar to yours. There are many website that let you search for manufactures for who want to license your product. A few websites are companiesonline.com, industry search, and tradeeast.com

 

Step 2: Prepare some marketing materials. Prepare a letter that you can send to all of the manufactures you choose. The marketing letter should include your name, information, the filing date of the patent, and similar products to yours that the company manufactures. You should include a brochure of your invention.

 

Step 3: To license your product, submit your marketing materials to manufacturers.

 

Step 4: Negotiate a license. Once you hear from a few of the manufactures, you should negotiate a license agreement. Contacting an attorney is a must when discussing numbers. This agreement is hugely important in licensing your product. It determines how and when you will be paid.

 

Tips: Contact an attorney for assistance when licensing a product.

 

Check the Better Business Bureau to see if the company has any strikes against it.

 

Warnings: Make sure the manufacturers are reputable.






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