selling patent

[lewis46126]

What is the name of your state? Indiana

I have a patent, new fishing bait, I would like to submit it to a big name bait manufacturer. My question is,
1. what kind of royalty's are paid, is there a standard percentage. I want cash and royalty's, is this being realistic
2. should i be careful of how much I show or tell the manufacturer as to the way it works before the sale?
3. should i have a lawyer present or sell it for me?
4. what is the best way to present it?
5. should i do marketing before i submit it to manufacturer?

 

[BelizeBreeze]

What is the name of your state? Indiana

I have a patent, new fishing bait, I would like to submit it to a big name bait manufacturer. My question is,
1. what kind of royalty's are paid, is there a standard percentage. I want cash and royalty's, is this being realistic
2. should i be careful of how much I show or tell the manufacturer as to the way it works before the sale?
3. should i have a lawyer present or sell it for me?
4. what is the best way to present it?
5. should i do marketing before i submit it to manufacturer?

This is not a 'how - to' site. Contact a local patent attorney in your area for a consultation.

 

[IPMan]

What is the name of your state? Indiana

I have a patent, new fishing bait, I would like to submit it to a big name bait manufacturer. My question is,
1. what kind of royalty's are paid, is there a standard percentage. I want cash and royalty's, is this being realistic
2. should i be careful of how much I show or tell the manufacturer as to the way it works before the sale?
3. should i have a lawyer present or sell it for me?
4. what is the best way to present it?
5. should i do marketing before i submit it to manufacturer?

There's a book titled "Product Idea to Product Success" that may be useful to you - I picked up a copy from Overstock.com a while back for around $15. It's not bad (what I've read of it so far) except for some errors in the patent section which I've already written the author about.

I can't really help with your specific questions except to say that I don't know of any competent IP attorneys who will actually go out and market an invention for a client. Again, I refer you to the book I mentioned, which recommends finding a product agent to represent you in marketing and negotation for a fee.

Edit: Forgot to mention that you appear to be talking about "licensing" a patent as opposed to selling one. Licenses allow a licensee to make, use, sell, etc your patented device, often in return for royalties.

Best of luck!