Question about licensing deals

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Latest post 10-24-2011 1:24 PM by AbeG. 5 replies.
  • 10-21-2011 1:50 PM

    • AbeG
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    Question about licensing deals

    I'm interested in contacting a few companies about possibly licensing their name and improving on an existing product of theirs.  Assuming their product has a patent, is there anything I can do so that they don't take the idea and develop it themselves and cut me out of the picture? 

  • 10-21-2011 1:57 PM In reply to

    Re: Question about licensing deals

    OK, I'm no expert here, but this sounds to me like you need to really do more than just post to a legal forum and get some answers from any of us strangers.

    What product, what improvements and assuming anything is never good.

    They very well could cut you out of the picture instantly, and sue you if you have no clue what you are doing here.

    I know just enough to know this much.  I don't know.

    I guess I would start by speaking to a lawyer.  But are you really planning on making a ton of cash here?  It just sounds like you don't really have a good plan together here.

    Good luck!

     

  • 10-21-2011 2:37 PM In reply to

    • AbeG
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    Re: Question about licensing deals

    I will contact a lawyer, I guess I was just hoping to get a general idea of things before taking that step. 

    To be sligthly more specific, I'm a software developer and I would like to license a particular company's name and education system and create a program out of it.  Creating the program would be pretty straight-forward for me.  However, before I waste any effort developing it, I would like to know if I stand any chance of securing such a licensing deal while minimizing the possibility of the company taking the idea and implementing it themselves.

    That said, I could also take the route of creating a product that does not infringe on their product but is similiar enough to offer a comparable benefit.  I'd much rather worth with the company however, because of their brand-recognition.  However, it would not be a show stopper if they said no.  What would be an issue is if they take the idea and bring it to market before I do.

  • 10-21-2011 3:10 PM In reply to

    Re: Question about licensing deals

    AbeG:
    To be sligthly more specific, I'm a software developer and I would like to license a particular company's name and education system and create a program out of it.  Creating the program would be pretty straight-forward for me.  However, before I waste any effort developing it, I would like to know if I stand any chance of securing such a licensing deal while minimizing the possibility of the company taking the idea and implementing it themselves.

    Most product related companies have licensing departments.

    You can likely buy the license without revealing too much about your program.

    Just call up and ask. Nobody here can imagine what the results would be.

    AbeG:
    I could also take the route of creating a product that does not infringe on their product but is similiar enough to offer a comparable benefit.

    You might want to consider doing just that as you are likely to be asked for a lot of money up front to buy the license.

     

    • The right of the people 
    • to keep and bear arms,
    • shall not be infringed.
  • 10-21-2011 3:22 PM In reply to

    Re: Question about licensing deals

    ah software.

    OK

    I know something about this.

    Were I you, and again, no lawyer, just an average software guy, I would develop my own thing and sell it on my own.

    However, having said that, does this company offer you an SDK you can use to develop your product with?

    They might have an entire program you can be part of and they will help you make money.

    Not knowing what you are really doing, it's difficult for me to really say.  However, I've written tons of different software that used SDK's from other companies.  Many times, they have programs you can become a part of and then you all make money!

    Good luck!

     

  • 10-24-2011 1:24 PM In reply to

    • AbeG
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    Re: Question about licensing deals

    There's no SDK because they haven't branched out into creating software versions of their product.  However, I will keep that in mind if I think of any ideas where a vendor does have an SDK. 

    I may end up having to develop something without pursuing the licensing but I can't help but think of that power of putting a well-known name on something.  For example, how popular would the george foreman grill have been without a well-known name to carry the product.  In a sense it is potentially choosing between 100% of a small pie or say 40% of a very large pie.  Then again, if I can't find a safe way to pitch the idea, then chances are that I won't go that route.

    I'll probably be contact an IP lawyer sometime this week for more formal guidance.

    Thanks for the feedback.

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