OEM Proposes Exclusive License For Patents

6rico96rico9 subscriber Posts: 1
edited June 2006 in Protecting Your Ideas
Recently (06-06-06), an offshore OEM (Original Equipment Mfg) made an offer for an exclusive 5 year license to distribute my door closer inventions; see http://doorbutler.com</A>.
This firm currently makes 3MM/yr (million/year), and projects distribution of 5MM/yr in the fifth year. Total global market consumption for closers is approx 12MM/yr.
They have agreed to independent audit of open books; litigation in USA; stiff restitution and risk of loosing license if fraud is ever determined.
Question: What are the risks of dealing w/ offshore mfgs; and how do I best monitor my inventions once in their possession?
Kindly,Ricardo Alonso303-742-9551

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