Patent license negotiation :best practices

In all areas of the biotechnology and pharmaceutical industries, the licensing of intellectual property is in most cases an essential step in the translation of basic research into a commercial product. Negotiating IP licensing agreements and developing the terms of the business transaction involve evaluating numerous factors pertaining to the specific circumstances of the parties and the technology at issue. As the quality of the business relationship after licensing of the intellectual property is heavily influenced by the nature of the transaction, the negotiation process should be approached with great consideration. This article presents an overview of the negotiation process and makes suggestions for each stage