Looking to sell or license my ideas and inventions to someone else in exchange for payment or royalties.
There are so many different ways you can structure a licensing agreement as an alternative to selling your invention or idea. If you can't obtain enough value for an outright sale, consider a license agreement. Typically you can receive a higher royalty (or up front payment or advance) if the license is exclusive. You can also grant an exclusive license for the premium aspects of the invention and non-exclusive licenses to the secondary aspects.
Negotiating a License Agreement. A suggestion is to review a variety of different types of license agreements. That way you can familiarize yourself with a number of different options, and be flexible and skilled enought to adjust quickly during any negotation process. Having a plan and understanding how the deal can be structed in advance will give you a leg-up or leverage or the confidence you need going into a negotiation. You can ofter obtain a better result for yourself if you have an idea of the different licensing options and provisions. Know where to stand firm, and know where to be flexible. If you can come to agreement on the major aspects and have them tipped in your favor, the drafting of a license agreement and overall relationship can be improved.
With any exclusive license arrangement determine if you will stand firm on requiring an up-front payment or advance against royalties. This payment can often be used to finance any patent or other intellectual property or business matters regarding the business. If an exclusive license is granted, you MUST include a clause regarding guaranteed minimums and/or a short expiration date (perhaps two to three years). Of course, any leverage in negotiation will likely stem from having protected intellectual properties, typically a patent or patent application, or trademark regisration or pending federal trademark applications.
In negotiating a license agreement a first step is to make sure the subject matter is protected by a NonDisclosure agreement. For other great background information regarding intellectual property, check out sell my ideas.