Phase 1. Thorough Assessment of IP assets:
TransactionsIP will provide a thorough assessment of the Client’s technologies and IP assets. Our goal is to optimize the value of the core technologies and determine their potential.
Phase 2. Opportunity Identification / Prospecting:
TransactionsIP will provide marketing research and industry analysis, define optimum exploitation routes to new markets, and how to market the technology. The above analysis will provide the data to develop licensing strategies to identify prospects for licensing. TransactionsIP will work with the Client to identify the list of potential prospects based on business and technical analysis and our assessment of anticipated prospect interactions. All key considerations involved in identifying the most beneficial licensing strategies for licensors and licensees will be developed.
Phase 3. Licensing (Sales) Strategy Creation:
- TransactionsIP will evaluate many potential licensing sales strategies and review with the Client prior to contacting prospective candidates. Unique licensing strategies will be developed for each target company. A game plan for each will be developed and include: strategy; options; and tactics. Through existing contacts at these prospects, TransactionsIP could likely accelerate the negotiation. The objective is to create a transaction that will maximize the objectives of both Client and a licensing partner. TransactionsIP will collectively forecast and understand the boundaries of any ultimate transaction.
- TransactionsIP will provide the Client with a list of required collateral/ presentation materials, in order to create a technology package for the licensing prospects. Client collateral is defined as: strategies and business plans; descriptions or demonstrations of products and services; competitive advantages with specific proof points; competitive analysis; marketing strategy, plans and distribution networks; opportunity projections with profit margin analysis; descriptions of operations and business processes; basic descriptions of computer systems required; systems development status; patents and other similar information in direct relation to the Client innovation. Client collateral is necessary to help TransactionsIP discover detailed information around the licensed technology in order to carry out consulting capabilities. Client will provide TransactionsIP with the collateral described above by the Starting Date. All Client collateral is the property of the Client and shall be destroyed with notification, or returned or destroyed in accordance with the terms of the Non Disclosure Agreement.
- Prior to visiting any prospective candidates, TransactionsIP will review the Client’s presentation offering including technology package and market information, and offer advice on any modifications to make prior to visiting any prospective candidates. TransactionsIP will offer value-added thought leadership and “applicable” advice (identify challenge areas), and offer corrective solutions (how to fix the challenges). TransactionsIP will document Client technology package and market information observations in a compiled Technology Package and Market Information Assessment. The Assessment will be provided to Client within 30 business days from the Starting Date. It is anticipated that a meeting will take place within the next 15 business days to review and dry run the presentation, prior to prospect company meetings.
- Prior to visiting any prospective candidates, TransactionsIP and the Client will evaluate potential licensing valuation, scenarios, and strategies prior to meeting with prospective candidates. The objective is to create a transaction that will maximize the objectives of both the Client and a licensing partner. The Client, with TransactionsIP guidance and recommendations, must establish rational upfront fees and royalty structures.
TRANSACTIONSIP will provide the Client with a Summary Recommendation of Proposed Fees and Royalty Structures relevant to the Client innovation as a deliverable.
- Unique licensing negotiation strategies and a recommended action plan will be developed for each target candidate.
Phase 4. Managing the Transaction:
TransactionsIP will perform licensing relationship building functions by attempting to facilitate, accelerate and contact license and alliance prospects on behalf of the Client. The prioritized initial set of prospective candidates will be contacted. Subsequently, a set of collateral will be sent to the prospect for their early evaluation. We will request a meeting to present and demonstrate the licensed technology within the next thirty days. A follow up call will be made within seven days from the mailing. TransactionsIP and the Client will meet with and present the technology package and market information to the initial set of candidates. TransactionsIP will provide the Client with a monthly Prospect Status Report that minimally outlines project progress, activities performed, and next checkpoints.
If necessary, TransactionsIP and the Client will identify potential Client license candidates beyond the scope of the initial targets. This will be mutually determined based upon the results and feedback from the initial set of prospects. A determination will be made with respect to finalizing a license with the initial set of prospects, or launching a second set of prospect candidates. If a decision is made to proceed with a second set of licensing prospects, a similar strategy will be developed similarly to the initial group.
Typically four to twelve months elapse from the time of first contact to conclusion of a license agreement, depending on the complexity of the technology, prototype analysis if required, etc. The flow of royalty payments, other than an upfront licensing fee, will typically require additional time, depending on the time to market of the licensed technology.
Phase 5. Negotiation:
TransactionsIP’ goal is to negotiate the best possible license agreement for our Clients. Unique licensing and negotiation strategies will be developed for each target company in order to provide a customized approach.
Phase 6. Finalizing A Deal:
TransactionsIP will negotiate all of the terms and conditions to create a final term sheet, which will provide the basis for a final contract. An attorney selected by Client will work with TransactionsIP to finalize the contract for signature.
Phase 7. (Optional) – On Going Project Management and Customer Relations
Managing an ongoing relationship between licensee and licensor is available. Elements could include: project management to facilitate technology transfer and prototype development & build; customer relationship management; quality control, maintenance, etc.