We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co

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


Sign In or Register to comment.