Royalty Payments Secrets - How To License A Patented Product
Step #1 - Prepare For Global Patent Licensing
- Your patent product needs to have manufacturing available with documentation for scaling.
- Documenting your ideal customer and the customer journey helps selling in other countries.
Step #2 - Find A Patent Licensing Partner
- Global Patent Exchange helps list your patent for global partners.
- Finding the right partners is now handled by Global Patent Exchange.
Step #3 - Arrange A Patent Licensing Agreement
- Your patent attorney can handle the new country patent, licence agreement and supply agreement.
- Patent Licensing agreements can be configured in up to 154 countries for patent royalties.
So, here are the main points I'd like you to take away from this How to license a patented product post:
- Creating new patent license agreement needs cooperation between patent holders (licensors), entrepreneur partners (licensees) and patent attorneys.
- Each party has activities to complete to create the necessary agreements.
The bottom line here is that you can Leverage patents for more global opportunities quickly without having to finding patent licensing partners manually.
Now, if you're a patent holder who wants to take this to the next level, I'd like to invite you to Check out 3 Global Licensing Agreement Checklists at
How To Create Global Licencing Agreements - 3 Checklists
so you can rapidly create global Royalty payments!