They have an idea and are now ready to let a manufacturer distribute it on a grand scale. But before they rush into a licensing deal, there are plenty of things that should be considered.
This infographic from Idea Buyer, a marketplace to buy and sell patents, offers some handy advice to help out. For instance, if the product or intellectual property needs to be tested or certified, get the process going before you license so that you can snag yourself a higher royalty rate. Also, get familiar with the royalty rates standard for your industry so you know what to expect.
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