Executive Summary1 min read
Key Takeaways
- A patent must be built to withstand litigation, and the licensing agreement itself must be carefully drafted, or a license deal can end up getting the patent killed.
- Dr. Jung’s case shows what can go wrong when a valuable patent, potentially worth as much as $50 million in licensing, is not properly protected before licensing it out.
- Without a solid patent and a bulletproof licensing agreement, a patent owner can end up losing everything rather than collecting on a lucrative deal.
The Bottom Line: Before pursuing a large patent licensing deal, make sure the underlying patent can survive litigation and the licensing agreement itself is airtight, or the deal could destroy the patent’s value entirely.
Summary: Do you want to license your patent for $50 million?
Well, you better set up your patent to stand up to litigation and draft a bulletproof licensing agreement, otherwise your license could get your patent killed, and leave you with nothing. See how this happened to Dr. Jung and take steps so it won’t happen to you.
Questions? If you would like to get your patent questions answered and be part of the show, Thompson Patent Law has a LIVE complimentary webinar called Ask The Patent Attorney. Call the number below and reserve your spot in this LIVE teaching event.
