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PostSubject: Deal But No Sales   Thu Oct 29, 2009 10:37 am

From A Member:

Is there a way the inventor can protect themselves from a company licensing their product and then not developing it?
Can the inventor get the rights back?

Thanks so much Very Happy
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Roger Brown

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Location : South Carolina

PostSubject: licensing   Fri Oct 30, 2009 11:58 am

Yes, you can get your rights back. You have to make sure that the license agreement you sign has a clause in it that if the company does not meet certain minimums in sales or fails to produce and market the product all rights revert back to the inventor.
Once you have the product back you are free to license it to another company.
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PostSubject: Re: Deal But No Sales   Fri Oct 30, 2009 2:00 pm

Thanks Roger! Very Happy
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Troy Robison

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Location : Sunny, Florida

PostSubject: Re: Deal But No Sales   Wed Nov 04, 2009 5:25 pm

I'm caught up in this situation with one of my products. I never had a clause in the agreement that would allow me to get out. My product is sold on the web at this point,but it needs to be in retail. All I kept hearing was retailers arent bringing new products in with the bad economy.
It looks like I'm finally going to get to retail soon,wow did it take a lot of screaming on my part to make that happen.
To be honest one of the other mentors here opened my eyes and vocal cords to get the company to get moving forward.
You can bet this will never happen to me again......I wouldn't let any of the inventors I mentor get in this situation. Go figure I let it happen to me.....

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Troy Robison

www.totalpatentsearch.com
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PostSubject: Re: Deal But No Sales   Wed Nov 04, 2009 6:47 pm

I don't think it's something a lot of inventors would think of. Thanks for sharing that Gizmo! Very Happy
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