We act as the bridge between your invention and the manufacturers who want your invention. Through our team of specialists we provide the information, resources, and contacts necessary to get your invention in the hands of these important people.
We charge an initial evaluation fee, and as a first deliverable, we will provide you with a list of potential buyers. If instructed further, we will contact the buyers on your behalf, and if they show interest, prepare a licensing agreement, and negotiate the same with them all for free, without charging you anything extra.
The only time that we get paid is when you receive royalties from the licensing agreement. From that point our share of licensing revenue is 25-30% and so the inventor's share is 70-75%.
we seek to establish fair and attractive deals for the patentees that we represent. But to do this there must be certain elements present in the licensing agreement. The following is an illustrative list of some of these elements that one should be aware of:
1. Advance payment of royalty fees: This is normally applicable for exclusive license agreements, and it is pretty obvious that the licensee would pay an advance toward the first year's royalty.
2. Minimum annual royalty or performance requirements: This is either a minimum annual payment or a yearly unit volume that the licensee must hit to retain exclusivity. The amount usually increases every year to allow for the licensee to scale-up and distribute your product. Also, it provides the patentee with assurance that the licensee will seek to develop your invention and not just let it sit ideally.
3. Insurance cover for the inventor: This is an agreement that the licensee will, at his cost, purchase an insurance policy covering the patentee in damages and send the patentee a certificate which shows that they are on the policy. Such a clause in the agreement provides protection for the patentee in the event that the invention causes harm or injury to those who use it. The amount of policy may vary from case to case.
4. Right to an audit: If the numbers seem to be inaccurate, our team may arrange for an audit to be done by an accounting firm in order to determine if the royalty checks received were fairly distributed.
GIP welcomes all your queries related to Patent Licensing. Please mail us at mail@gipresearch.org.
Licensability Analysis
We analyze your patent based on criteria that is essential in the success of a product in both marketability and "licensability", which generally includes a SWOT Analysis, and considering issues such as, for example:
Legality
Safety
Impact on society
Performance
Profitability
Market demand and size of market
Manufacturing feasibility
Analysis of competition and related products
Quality / Quantity of competition and related products
Competitive advantages and disadvantages
Consumer appeal
Major barriers toward market or manufacturer acceptance
GIP welcomes all your queries related to Patent Licensing. Please mail us at mail@gipresearch.org.
