in this short video we'll run down ten
effective negotiating tips for patent
holders the first and most obvious
negotiating tip is to emphasize the
benefits of owning your patent one
surefire way is pointing to the big
market waiting to be capitalized on
another might be the low level of
competition which cuts down on the
headaches of bringing whatever your
patent is to market the idea is to make
buying or licensing your patent sound
like a smart profitable thing to do it's
just human nature that would be like
options and feel more comfortable
choosing among them then dealing with
take-it-or-leave-it situations while the
latter can be useful in getting someone
who's dragging their feet to make a
decision it's not the best way to start
patent negotiations at the outset you
want the person or company to feel like
they are in the driver's seat this way
they'll feel comfortable enough to ask
you for more information and invest
themselves into the negotiation process
don't yell accuse or otherwise let
emotions get involved in the process
they just cloud your thinking and lead
to a rational decision making on both
sides if you are negotiating with a
large corporation or wealthy person they
might try to use contracts with terms
that heavily favored them and tell you
that quote this is just the way it's
always done while this may be true don't
mindlessly accept it if you feel
uncomfortable signing something check
with your attorney before you do if
someone asks to borrow your car for a
weekend you might say no but what if
they follow up with ok how about a ride
to school
suddenly the request seems much more
palatable the same applies to patent
negotiations if you want 10,000 ask for
15 don't be worried about driving the
other party away if they really want
your patent it won't deter them another
great tip is to pretend that the final
decision rests with someone other than
you this allows you to be more
aggressive than normal because after all
you are negotiating on behalf of some
other distant person it's a terrible
mistake to let the other party in a
negotiation think or know that you are
desperate skilled negotiators can smell
desperation and they will use it to
sucker you into as low as selling or
licensing price as possible for this
reason you want to exude a cool calm
during all negotiations make sure the
other party feels that they have
benefited from the transaction nothing
is worse for your reputation than a
legacy of screwing people over and it's
just
not right negotiate with a clear mind if
you're having an awful day see if you
can reschedule the negotiation to a
different day if this is not possible do
all you can to cool off and put other
considerations out of your mind for the
time being you'll be glad you did
finally try and hold negotiations in
your own home or office baseball teams
have an advantage playing in their own
home fields and the same goes for patent
negotiations there's just something more
comfortable about going to battle in a
setting you are comfortable in and
familiar with well good luck