How should I license my invention or software?
Licensing or selling an invention or software can take many forms. Several forms influence the choice of form. One factor is the type of invention or software, another the industry and even the role of the buying business within their industry. A match between their needs and business model and the objectives of the owner of the invention. If a commonly acceptable arrangement can not be found it may be difficult or impossible to close a deal for the invention.
For example, developing an understanding of both the buyer's and the seller's needs is a fundamental step in determining how to sell or license an invention or software.
A few questions to consider:
- Whether to split the invention, offering non-exclusive licenses to two or more businesses
- If splitting the invention, deciding how to split
- Whether to do a value analysis of the invention
- How the value is affected by form of licensing
- Whether to do a technology development analysis
For example, a technology development analysis may involve applying an Edison development technique:
- identifying steps needed to secure the intellectual property
- identifying steps needed to develop the invention
- identifying steps needed to commercialize and market
Another approach is to develop your march to market:
- developing the steps need to get the invention to market
- determining what development is needed to make the invention ready to sell outright
This firm can help guide you throughout your decision making process and, further, help build the deployment plan needed to approach your commercialization goals.