Interception Providence Fan Member since Nov 2008 11089 posts
Patents, Licence Agreements, or Start Own Business (Posted on 2/25/13 at 1:11 am)
I've been contacted about advising a foreign electronics engineer on how he should pursue moving his product in the US. I spoke to him breify the other day and he has confirmed his medical product is a now officially US Patent Protected. He basically has no contacts in the US except for some Doc that wanted me to help him.
This fellow does not want to outright sell the patent to this product, but I don't believe he understands everything associated with starting a new business in the states (something I've stressed). I really believe his protect is a revolutionary product that every patient and hospital should have. The last alternative seems to be some sort of licence agreement through hospitals or medical supply providers. The guy sounds as though royalties might be the route he wants to go.
One of the problems is that I don't know what I should ask for in setting all this up for someone in another country. I wonder if we should start a corporation and him pay me in shares? If so, what percent would be reasonable?