Invention Commercialization Programs
The Challenge
As a business or an inventor with a promising product or technology
that you desire to commercialize, you will need to know the answers to several
questions.
- What is the best approach - licensing or manufacturing?
- What is the licensing potential of my product or technology?
- Who are the potential commercialization partners?
- What do I need to do next?
How We Can Help
Vertex can assist you address these questions. We provide professional
services on a fee-for-service basis. This can be done in three different
ways:
- First of all, we can provide professional services on an hourly or per
diem basis to address the specific needs of our clients. Once the work
to be done is identified, a realistic budget can be developed.
- Secondly, when the scope of the work to be done for our client has been
clearly identified, it is often possible to provide our services on a fixed
fee basis.
- Thirdly, Vertex has developed two economically priced programs described below in order to help businesses or inventors address the above questions.
Program A- Consultative Service (CS)
This service is for clients wishing to discuss their specific
situation with respect to the commercialization or licensing of a product
and to obtain some individual direction regarding the next steps in the invention
commercialization process. A face-to-face meeting or alternatively a telephone
conference with a Vertex representative may be the most appropriate first
step. Our representative will meet with the inventor for 1 ½ to 2
hours to gain an understanding of the inventor's situation and to provide
suggestions for the next steps which the inventor should consider. Vertex
will then provide the client with a brief summary of the discussion (4 to
5 pages) with our conclusions and general recommendations for future actions.
Program B - Licensing Strategy Evaluation (LSE)
When businesses or inventors consider introducing new products
or technologies to the marketplace, a licensing strategy may be identified
as the preferred approach. In order to effectively license new products and
technologies, the following issues need to be addressed.
- Is licensing really the best commercialization option?
- Is what I have of value as a licensing property and what can I do in order to increase its value?
- Who are some of the potential licensees?
- How do I attract the interest of potential licensees and convince them of the value of my innovation?
- What elements need to be addressed in negotiating a license agreement?
- What royalty can I realistically expect to receive?
- What can I do to increase the value of my product?
- What else do I need to do before I'm ready to negotiate a license agreement?
Vertex's Licensing Strategy Evaluation study has been developed to assist
businesses and inventors answer these questions.
After receiving information from the client, the study process begins with
an initial meeting or conference call. Once we've reviewed the available information,
we analyze the market related to the client's product or technology to assess
the overall size and potential level interest. We will discretely contact industry
representatives and potential licensees (if deemed appropriate) to obtain first-hand
insights relating to the client's commercialization opportunity.
Based on our understanding of the client's particular situation, the market potential and the receptiveness of potential licensees, we produce a report of approximately 35 pages that presents the results of our investigations. Our report will include an examination of the critical factors that are known to influence successful licensing. The client's technology will be assessed using Vertex's licensing potential scale and a rating will be provided with suggestions for improving the attractiveness of the client's product or technology for licensing. Vertex's detailed conclusions and recommendations will be provided and potential licensees will be identified.
Upon delivery of the report, we will schedule a second face-to-face meeting or a arrange conference call to discuss any questions and help advise the client on the possible next steps.
To gain a better understanding of this service, please review our case studies . Mr. Handyman, Mr. GreenThumb , and Mr. Small.
Getting Started
Contact Vertex at 416-239-7779 or by fax at 416-239-5707 to have
our Confidential Disclosure and Terms of Engagement document mailed or faxed
to you. Alternatively, you can download a
rich text format version of the form from our website. To engage our services,
simply provide the information requested in this document and return it to
Vertex.
Our fee schedule and estimates of the time to complete the reports for Programs
A and B are given below. Our service fees are not based on hefty initial
fees before the commercialization potential of the invention has been determined,
nor are our fees based on a contingency / success basis. We provide an honest
and professional view at a reasonable fixed fee to contribute to our client's
success.
(See Inventorfraud )
Commercialization Assistance Programs Service Fees and Timing
Program |
Fee |
Approximate Timing |
|
Program A |
Consultative Service |
$450.00 |
1 week after scheduled meeting |
Program B |
Licensing Strategy Evaluation |
$7,000.00 |
6 to 8 weeks from receipt of disclosure document |
