How does an inventor go about licensing his/her invention?

• What is a patent?

• What can be patented?

• Does an invention have to be completely new to be patented?

• Who can apply for a patent?

• What standards are applied to determine if an invention is patentable?

• What is the first step in patenting an invention?

• When and how is a patent application prepared?

• What information goes into the patent specification?

• What is the function of the patent Claims?

• Are there different types of patent applications?

• What happens after the patent application is filed?

• Is there any recourse from an unfavorable final office action?

• What happens once the examiner finds the claims are allowable?

• Does the inventor have to wait for the issuance of his/her patent before beginning to manufacture or market the invention?

• How long does the entire patenting process take?

• Should an inventor disclose his/her invention to others prior to filing a patent application?

• What happens if two applications are filed for the same invention?

• How long does patent protection last?

• Does a U.S. Patent provide protection from foreign competition?

• How is a patent enforced?

• Can patent rights be sold?

• Does an employee’s invention automatically belong to their employer?

• What is a patent license?

• How does an inventor go about licensing his/her invention?

• Once a patent is issued, can it be revoked or modified?

• What are the maintenance requirements after a patent is issued?

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Typically, the inventor in conjunction with his/her patent attorney will identify businesses whose line or products and/or services would best be complemented by the invention. Then solicitation contacts would be initiated to determine if there is interest on the part of the targeted businesses in licensing the invention. This is optimally done after a patent has been issued for the invention, but it can also be initiated after a patent application has been filed, during the “patent pending” period. It is usually not advisable to undertake licensing negotiations before a patent application has been filed, and such negotiations should always be preceded by the execution of a non-disclosure agreement drafted by or approved by the inventor’s patent attorney.