Austin Bonderer and Rand Brenner Present at Med Tech Council Event
Austin Bounderer and Rand Brenner Present at Med Tech Council Event.
The Do’s and Don’ts of Med Tech Licensing
The presentation covered the legal and licensing sides of med tech. How to get a patent. What is the timeframe and cost of a patent. What can be licensed. What does a licensing deal look like and how much money can you make.
Austin covered the patent process…What it is and how long it takes. What is a patent search. What does it cost.
Rand covered the three biggest licensing mistakes and how to avoid them. These include:
No Due Diligence on your licensing partner – the most important deal point if your licensing partner. Get the right one and you’ll make a fortune; get the wrong one and it can cost you lots of legal headaches and fees.
Failing to validate the technology – Licensing partners look for technology that’s market ready – it works, is selling, there’s research behind it and it’s selling or being used by customers. The closer your technology is to the market, the less risky it is. Or put another way, the more your IP still needs to be developed, the risker it is and the less likely a partner will license it.
Send the Wrong information – licensing partners don’t want to know the history of your med tech IP. they want to know how they’ll make money with it. The right information tells them how the IP solves problems – for the customer, patient, or provider. #medtech #licensing #patent #newvideos
This event was at the Startup Incubator at the Irvine Campus of Cal State Fullerton.