Forums: Discussions for entrepreneurs and small business.

 

I hope someone out there can help me.  I have an appointment (after several emails and phone calls) to speak with a new-product manager at a very large, international company.  I have a patented product along with an idea to increase sales for the large company.  I have revealed very little of the nature of the product or the idea.  I will end up creating a related product which is not patented.

Question:  Assuming they will sign an NDA, how do I go about setting a value on my product and idea?  I have a business plan with projections, etc.  What is the best way to go?  Joint venture? Licensing Agreement?  Royalties?

 

Why are you creating a new, unpatented, related product? Isn`t the idea of having your existing product patented to avoid this kind of problem? ....Just curious....

I don`t know for sure,  IMHO  I would think it would be best you you to be flexible and prepared to do any of the above if you want to do business with them,   I am willing to bet that they will have their way of doing business  and you will have to choice to do it their way  or it will be the highway. 

I don`t even know to what extent there will be any negotiations  available.  I`m not  saying don`t try because I`m sure they will try to low ball you.,  they all do, don`t they. ???

be flexible,  have a goal in mind and be ready for anything  or at least as many different thigns  as possible.

Idea  just came to mind.  Maybe contact them ahead of time and ask  how they do business in this area.  Don`t identify yourself giving them any additional edge,  just do some research  in advance.

Michael t

Michael T