Share on Facebook
Share on Twitter
Share on LinkedIn
By J.D. Houvener
Patent Attorney and Founder

Do you need an approved patent to approach companies for licensing, or is a provisional patent enough? Also, will companies negotiate patent costs in a licensing deal?

You can negotiate a deal with just a provisional patent. But there’s more risk for the company. Without a final patent, they don’t know if it’ll be approved. That makes some companies cautious.

Most will do their own research. They might hire lawyers or do a patent search to check if your idea is worth backing. They’ll want to be sure they can build something around it.

Here’s an example: Imagine you own land and want to sell the mining rights. You don’t know what’s underground—gold, silver, or nothing. The buyer will run tests and take a risk. It’s the same with licensing a product still in the patent process.

As for negotiating costs, it depends. If your product is already selling, you’ll have more leverage. Companies love proof that people want your idea. If not, the deal might take longer, but it’s still possible.

About the Author
J.D. Houvener is a Registered USPTO Patent Attorney who has a strong interest in helping entrepreneurs and businesses thrive. J.D. leverages his technical background in engineering and experience in the aerospace industry to provide businesses with a unique perspective on their patent needs. He works with clients who are serious about investing in their intellectual assets and provides counsel on how to capitalize their patents in the market. If you have any questions regarding this article or patents in general, consider contacting J.D. Houvener at https://boldip.com/contact/