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Licensing your intellectual property

Are you ready to mass-produce your invention? Do you lack the resources or time to do so? You could sell a license to a manufacturer or distributor who can bring the product to market.

In simplified terms, product licensing is like trading your intellectual property for a percentage of future profits. These profits are called royalties, and you need to research your options and shop around for the best deal. The rate of royalties is only one factor in the decision-making process. You may also want to look at things like whether the licensee actually plans to sell the product; if the manufacturer or distributor is a potential competitor, they might want the licence as a way to keep you from entering the market.

http://www.canadabusiness.ca/eng/page/2681/