The Hook Specific Answer (To Frequently Asked Questions) 


Question #2  

 
Q2: Can you license just an idea?
A: Practically, no. What is theoretically possible --and what makes good business sense-- may be two different things. It is difficult enough to license protected, issued patents! You really need a proprietary position (eg. a patent, patent pending, copyright or recognized trademark) to play in the game. Although it is possible to license something that is unpatented [1 in 100,000? odds], it is NOT practical, workable, or likely; indeed, your odds might be better of getting a hole-in-one or winning the lottery than licensing an unpatented device. If something is not patented, what legal claim to the technology do you have? Why should anyone pay you for it, when it is likely public domain? That is how a prospective acquirer looks at it. A patent can make the difference. But even WITH a patent, the odds of success are small [1 in 100? odds]. However, a patent gives you a legal stake and a greatly increased chance, if the device is marketable. See also our I have an idea..  page for basic steps in developing an idea into a product.
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The above is general marketing information. The above is absolutely NOT intended as legal advice; please consult your attorney for all legal matters.



Please email us your FAQs. Please also see TheHook's books page which has some more helpful material. Our policy  page can clear up more questions.


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