Hi, I am a new inventor and want to know how much money I would get if I licensed my innovation. It is about the new technology that would be economical to heat the houses in winter. Can you please help me to find an interested licensee for this innovation as well.
Hi, Lucy. Licensing proceeds usually involve a fee paid upfront to you through a signed licensing agreement between the parties. These agreements may also include milestone payments that come due as the technology or innovation is commercialized, and/or a royalty fee set at a percentage of the revenue or earnings from the eventual sale of products or services.
The amount of the fee upfront, milestone payments, and royalties are negotiated between the parties and generally, reflect the effort and stage of commercialization. In other words, the more developed your product or service is, the higher the proceeds tend to be. I hope that helps.
Hi, Lucy, as far as finding interested licensee is concerned, there exist a number of organizations interested in licensing innovative technology and inventions that complement their existing products and services for a specific purpose or market.
The organization that licenses the technology usually assumes all responsibility for subsequent costs of developing, marketing, selling and distributing your product. Good luck for the future.