This 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.
Over 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.