Can You Negotiate The Best Deal?, 10/22, Bozeman, MT

2008-10-22 09:00:00

GranTree Inn

Contact: http://www.mtip.mt.gov/deal.asp

There’s more to licensing your innovation than you might think.

October 22, 2008

9:00 a.m. to 4:00 p.m.

GranTree Inn
1325 North 7th — Aspen Room
Bozeman, MT 59715

http://www.mtip.mt.gov/deal.asp

Cost: $95

The Licensing workshop is a comprehensive self-help course. For low-level beginners, you will be picking up vocabulary and a holistic view of the process. For those at a higher level, it will be a chance to discuss scenarios and challenges, and to sharpen your skills. The material covered ranges from IP strategies (with an eye on licensing) to valuation, marketing, negotiations and management of the licensing relationship.

At this seminar you will learn:

Why you need to learn the language of licensing. Everything discussed with a licensing interest will have an impact on the negotiations. “Inventors might not realize it, but they become engaged in negotiations from the very first contact with a potential licensee,” says Marti Elder, licensing manager. “Thinking they are just marketing the license, they might say something like ‘I’ve been offered a million dollars for my company’ only to find that a million dollars has suddenly become a stake in the ground as far as the licensing terms.”

How to get ready to deal. Preparing for negotiations involves everything from researching background information on bordering technologies and developing a good qualified leads list, to creating marketing materials such as a flyer before you make the first call. “I guarantee that a prospect will ask to see something in print. If you have to go back and spend three months putting that material together, you risk losing the licensing interest,” says Elder.

How to market your intellectual property. License marketing is more than patents. Among the steps covered, Elder will teach participants about building value in their intellectual property.

How to negotiate a license. Not everyone has the skill set required for being a good license negotiator. Elder will discuss the characteristics of a good negotiator and how to help your team be properly prepared. “Too many small businesses take the wrong people to the table,” she says.

How to manage your license. The licensing process doesn’t end when the papers are signed. Somebody needs to monitor the licensing activity to ensure that the terms of the agreement are met. What if reporting milestones are overlooked or payments are missed — should termination rights be invoked? Elder will discuss these points and more.

The Licensing seminar will be presented by Marti Elder. For more information about Marti Elder, go to: http://www.martielder.com

This course has been approved for 2.25 CLE credits from the Montana Bar Association.