Royalty Payment Audit Process The execution of a license agreement is not the conclusion of the licensing strategy. The "Royalty Payment Audit Process" figure shows the activities that should follow. After lengthy and difficult commercial negotiation many licensors and licensees don’t pay enough attention to the royalty clauses. The following 30 business terms [...]
Portfolio Preservation by Company Size When the U.S. patent data was filtered by company size, it was found that companies with over $10 billion in sales filed about 10x more than smaller entities with sales <$100 million. Also, as the “Portfolio Preservation by Company Size” figure shows, larger entities also retain more of [...]
License agreements: Should the company consider licensing its proprietary information to a third party, it must take all reasonable steps to ensure that the third-party will treat the information as confidential and that that party will use that information in accordance with the agreement fashioned between the parties. Thus, before disclosing any of [...]
Once answering the above questions the process of protecting trade secrets continues with the development of a trade secret security package. Utilizing written security agreements are the keystones to effective trade secret security. Such agreements take a variety of forms and should include employee training. The reasons for having such agreements are (1) [...]
Once confidential information is determined to be a trade secret, it is converted to a trade secret through increased security measures to protect it. Because there are so many ways trade secrets can be lost, a trade secret security audit is probably one of the best methods to ensure trade secrets are adequately [...]
If a trade secret seems like the best approach, then to obtain and keep a trade secret three criteria must be met. The first element of the criteria is that it really is a “secret” as shown in the “Element 1 of a Trade Secret” figure. The second element is that the secret [...]
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