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Patent Licensee: Have a Track Record if You Want to Succeed

Logo for Quora where Dana Shultz answered a question from a prospective patent licenseeThis post is adapted from my answer to a Quora question from a prospective patent licensee. Q. How do I propose a licensing agreement with a patent holder?

A. In my experience, the most important thing that a prospective patent licensee needs to bring to the table is a successful track record.

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Patent Licensing for Licensors: Know Your Industry

Photo of a stack of 100 Euro notes, symbolizing revenue from patent licensingOver the past few years, several of my clients who had obtained patents wanted to license their rights to third parties. Only one client achieved patent licensing success.

The reason: The successful client was intimately familiar with the industry where his technology had its greatest value. He had worked in that industry for many years. He knew highly-placed executives in the most important companies. He was familiar with the companies’ product development plans.

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