Without a good strategy, buying a patent license can go terribly wrong. Inventors Digest has some advice to help you avoid common problems.
#1 – Believing a term sheet will protect your interests
A term sheet a brief document outlining the terms and conditions of a business agreement. But it’s just the start.
A formal, written licensing agreement is the best way to remove any ambiguity. Most term sheets expressly state they are not binding.
To read the full, original article click on this link: Avoid Patent Licensing Landmines - Business Opportunities Weblog
Author: Angela Shupe
