Ethics In Patent Licensing

Honest Team Members.  Avoid Unscrupulous Licensees

Manufacturer Licensees:

• Even the best manufacturer patent license agreement cannot shield one from aggravation and expense of dealing with an unscrupulous company. Check their background. Rely on facts.  Some also listen to their intuition as well.

• One study states cases of trade secret owners, showed about 75% of them prevailed.  These are poor odds for the unscrupulous patent licensee. Also manufacturers may want more of the inventor’s golden eggs.  So companies can generally play fairly.

Ethics:

• Ethics is the foundation for working together.

• The values of honesty are countless.  They include: Fostering long term relationships; Feeling good about yourself and work; Sleeping better; Etc.

• There are hopefully no major surprise negative issues from our side that you should be encountering upon in our working together.

• Studies show the nature of the desired creativity flourishes best in a trusting environment. 

• Let’s have a zero tolerance policy for others playing under handed games against ourselves or other Associates. One act of bad faith can destroy our trust.

• We hope to be the most honest and fair organization you have the opportunity to work with in developing inventions.  Most businesses refrain from disclosing information that you may need if it covers negative sides to things.  In life all things have good and bad sides. 

Trust:

• We would attract more business if we like most other businesses painted a rosier picture without excessive notes of caution.  We prefer genuine relationships.

• Stay away from manufacturers, and others lacking scruples! Check their the background. Start with using the links in the resource page.

• Trust is an especially important issue, as a portion of our business relationships are with others at a distance, and with parties we may not always have the opportunity of meeting.

• All the more reason why you and we should have zero tolerance for unethical behavior.

• The foundation of trust and caring nurtures the freedom for us to focus on creativity.

Being A Risk Taker:

• ”If you are looking for perfect safety, you will do well to sit on a fence and watch the birds.”  Quote from airplane’s co-inventor.

• The terms “innovators” and “risk takers” are synonymous

• Those unwilling to take any risks in general, are often kept captive by employers who offer minimal security and limited potential gain.

• If a new product doesn’t pan out, we can shift to another new product.  Just one success can earn royalties for up to twenty years.

Time Management:

• Prioritize. Most people spend 80% of their time getting 20% of the results, and 20% of their time getting 80% of the results.

• As we’re busy, we hope to start working, per the given explanations and contract – sooner  the better. Chatting and negotiating can eat up time.

Think Long Term:

• Focus on nurturing long term relationships with your team and licensee.

• If something comes up, let’s think in terms of solutions.

• The goal can be for us to get along and work together for a decade or longer.

Think First:

• Get legal and electronic patent licensing business advice.  We never warrant anything (except what’s in our signed contract). Like many electronic inventors, we’re probably too cautious, resulting in less focus on making money. This includes our disclaimer on the listed electronic patent licensing resources, and more general intellectual property links. You should read them anyway.

• Check potential patent licensee references. Contact the Better Business Bureau, plus credit and background check agencies like Dunn & Bradstreet, before doing business with anyone.

• Be careful of invention organizations promising to develop and sell your electronic inventions, requiring you pay them up-front.  Remember, profit sharing keeps people motivated.

• Motivate yourself!  It’s up to you to make a difference.  Motivation books help.  Profits come to those who have a vision and passion for making large profits!

 Reliability:

• Only make commitments you can keep.

• Responsibility is the foundation upon which we gain the strength to innovate.

Passion For Innovating:

• Find passion and energy your work.  Constantly seek new ways to innovate and take on new challenges!

Life’s Better When Lived Honestly