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Developing and Licensing The Next BIG Thing!. Ross Epstein TechLaw LLP March 13, 2012 Licensing Executive Society. Agenda. Direct Response Industry Overview Respective Role of Inventor and Marketer Recognizing and Developing the Next BIG Thing Licensing the Next BIG Thing!.
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Developingand LicensingThe Next BIG Thing! Ross Epstein TechLaw LLP March 13, 2012 Licensing Executive Society
Agenda Direct Response Industry Overview Respective Role of Inventor and Marketer Recognizing and Developing the Next BIG Thing Licensing the Next BIG Thing!
Ross A. EpsteinTechLaw LLP IP Attorney Since 2001 Telecom Entrepreneur in Central/Eastern Europe from 1992 to 2001 Business Litigator From 1987 to 1992
1979-’85 Professor CSUN, UCLA, CSULB 1992 Est. Splane Design & Mfg., Inc. 2003 built new studios for DreamProjects 2008 DreamProjects goes full time Robson SplaneSplane Design Associates, inc.
Direct Response Industry Overview • Selling Products to Insomniacs! • Multi-Billion Dollar Industry • Manufacturing Done in China/Asia • Surprisingly Well Regulated
Role of Inventor and Marketer • Inventor prototypes and should file initial patents often provisional • Different marketers approach inventors different ways • Sometimes intermediaries help the process
Role of Inventor and Marketer • Marketer bears the highest risk and therefore enjoys the greatest reward • Inventor usually earns royalty on worldwide sales • Challenge is worldwide distribution if product warrants
Recognizing and Developing the Next BIG Thing Robson Splane
There is no secret password… no secret handshake to follow your dream Timely, beautifully designed innovations with a great message The Right Presentation Be reasonable, be courteous & be prepared to graciously leave the table Licensing the Next BIG Thing The Inventor’s Perspective
Licensing the Next BIG Thing The Marketer’s Perspective • Duration of License • Territorial Scope • Cost of Intellectual Property Protection • Follow-on product rights
Common License Terms • Term • Royalty Rates • IP Identification • Sublicense rights • Audit Rights • Termination rights • Minimum royalties/milestones to maintain rights
Summary • Like Serial Successful Entrepreneur, best bets are inventors with a track record • License terms need to be reasonable • Marketer has to have the capital to give produce a real shot
Thank You Robson SplaneSplane Design Associates, Inc. www. splanedesign@gmail.com Ross Epstein TechLaw LLPross@techlawllp.com www.techlawllp.com