Licensing a product to a company-any one with experience in this?

Maxim · Jan 16, 2022

I'm currently working on an improved design for a bitcoin miner heater. I couldn't find anything similar in the patent drawings so I've filed a provisional patent as well.

I don't have the means to manufacture this and would like to find (a US) based company to make it. I think there is a big enough market for this.

Has anyone ever licensed a product? How does the process work? What happens if for some reason the patent doesn't go through?
How do I protect myself from them stealing my ideas during disclosure, especially given that I think they will have more money for lawyers then me.

Mud · Jan 16, 2022

I've done it. It's all done through an agreement written by your pitbull contract attorney. That agreement gives you more protection than a patent does. If they use or disclose your info, they owe you, you don't need to prove infringement or patent validity or anything else, they owe you.

One thing that needs to be included in that agreement is a minimum performance clause. Someone who wants you out of the way can agree to license your product then just let it die, and not pay you a cent, and prevent you from doing anything else with it as well.

Maxim · Jan 16, 2022

Can you recommend an attroney like this? Whats the typical cost of getting such an agreement written up?

country_boy · Jan 17, 2022

It’s worth noting you aren’t really licensing the product, but your patent claims (unless you have other attractive non patentable features.).

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Licensing a product to a company-any one with experience in this?

Maxim

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Mud

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Maxim

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country_boy

Aluminum

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