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Like most inventors, you dream of striking it rich – finding a company you can trust, hashing out a fair licensing deal, watching your idea hit the marketplace and then raking in the profits. But where do you find the right company? And how do you draft an agreement that will protect your interests? License Your Invention provides both the practical marketing advice and the legal licensing language you need to turn your invention into a moneymaker. Step by step, this book explains the key elements in a licensing agreement, from advances and royalties to the length of an agreement. It also explains complex concepts such as warranties, indemnity and reservation of rights – all in plain English. Learn how to: understand the licensing process determine your ownership rights work with agents effectively find potential licensors show your invention while protecting your work negotiate a fair licensing deal draft your own comprehensive licensing agreement understand, review and negotiate changes The completely updated 3rd edition includes the latest patent laws and rules, new marketing resources, new web resources – including patent-exchange and licensing sites – and information on how the Bayh-Dole Act affects you.