How To Land A Product Licensing Agreement

Licensing Agreement

How can I get a company to consider my ideas and products for licensing? Do you have any suggestions for convincing an existing company to consider my business’s ideas and products for licensing? Many companies say they can’t consider my ideas for “legal reasons,” yet they accept other people’s products.

While many companies do license the right to manufacture products developed by outside vendors, it can be a tough to put together a deal. The bottom line is this: no one wants to be accused of stealing an idea, so many companies are reluctant to look at anything submitted from the outside world.

If you are certain that the company accepts outside products but is refusing to look at your ideas, it’s time to take a more professional approach.

Hiring a good patent or trademark attorney to represent your products is a good strategy. An experienced attorney can draft confidentiality agreements and other paperwork needed to assure the bigger company that it can review your products without risk of being sued.

A good trademark attorney should also be able to share valuable business contacts with you. He or she should have a track record of successfully presenting products to other companies. Make sure the product ideas you present are a good fit for the company. Study the company’s other products, carefully review its catalog, and visit its website. You may be rejected for “legal reasons” when the real reason is that your ideas aren’t a good fit for the firm.