Invention and Innovation Consulting Procedures | Patent Help | Innovation Research
Invent Resources, Inc. (IRI) accepts requests from organizations and individuals to invent upon demand in a wide range of industries and technologies, both low and high tech. Most requests involve a perceived need requiring the creation of a new product or process or resolving issues involving technologies and patents.
IRI's general procedure for the creation and licensing of intellectual property is detailed below.
- A potential licensee (PL) describes the nature of the problem in very general terms without disclosing confidential information. Invent Resources (IRI) will not accept confidential information without an executed confidentiality agreement. Some examples of potential problems are:
- Needing the creation of a new product to market or a new process
- Needing a different technical/design approach that is more cost effective
- Resolving issues beyond capabilities of PL's existing technical resources
- Completing a deficient invention
- Circumventing or strengthening an existing patent
- The PL confirms that he has the resources to fund the development of the contemplated intellectual property (IP), to be created by IRI. IRI may be able to assist the PL in the marketing of the resulting IP but makes no such warrant.
- If IRI decides that the problem is soluble and the solutions viable and cost-effective then the PL and IRI will execute a mutual confidentiality agreement. At no cost or obligation to the PL, IRI will attempt to create proprietary solutions or novel applicable technology collectively called intellectual property (IP). IRI often has suitable technology in its inventory, and the PL will be so informed.
- Following internal discussions IRI will notify the PL that his problem can or cannot be solved. If not then discussions end, and the PL owes nothing. If IRI can solve the problem, or if the solution resides in IRI's inventory of IP, then IRI will offer to write a disclosure document of the solution. Careful distinction is made between the client's IP, if it exists, and that generated by IRI.
- The writing of the disclosure document by IRI is optional on the part of the PL, but it is recommended should another potential PL desire similar or identical technology. The disclosure document would include opinions on patentable features and cost estimates to enable the PL to make an informed decision to proceed or not.
- This disclosure document typically will become part of a patent specification, and is normally submitted to the US Patent and Trademark Office under the Disclosure Document Program or as a Provisional Application for Patent. Upon receipt of an option fee of $4,000 IRI will draft the disclosure document and send it to the PL. Upon receipt of the disclosure document, the PL will receive a one-month exclusive option to negotiate a licensing agreement or enter into a patent drafting or development program for the IP. After this option period, with IRI's concurrence, the PL may pay for additional monthly exclusive options at an agreed-upon rate. During these option periods IRI will not attempt to license the IP and will notify other PL's that the IP is unavailable for license. However, after these option periods expire, IRI is released from any obligation to the PL. Title to IRI's IP remains with IRI until actual licensing agreements are executed or other terms are agreed upon. At no time and under no circumstances does the PL have any rights or interests of any type in the IP generated by IRI until a licensing agreement is executed.
- The usual next step, if the PL wishes to proceed, is a patent search. For the convenience of the PL, IRI will use the PL's patent attorney, can arrange for one of IRI's affiliated attorneys, or IRI may conduct the search itself. The third option has the advantage of saving several weeks of time.
- The PL may wish to proceed with a patent specification based upon the results of the search. The PL may then contract with IRI to interact with the PL's patent attorney in the preparation of a specification. The PL may, alternatively, decide to use one of IRI's patent attorneys. In either case, IRI will draft the specification at its standard per-diem rate.
- IRI will license the resulting IP to the PL for exploitation in the PL's field of use or negotiate the outright sale of the IP. The terms of the agreement will be commercially reasonable and typical of IP licensing agreements.
- The licensee will assume responsibility for defense of patent(s) in designated fields of use but may contract assistance for this purpose.
- If desired, IRI will provide consulting services to support development or a prototype, or will arrange to develop a prototype elsewhere. Development costs will be borne by the licensee.
- All funds received by IRI from the licensee, prior to the actual execution of a licensing agreement, are nonrefundable advances against the exclusive licensing fee.
Last Updated ( Wednesday, 06 June 2007 )