Legal Question in Intellectual Property in Illinois
Sale of Intellectual Propery
I created an undergrade degree program and have the copyright to it. An institution would like to purchase the rights to this program. Since I have not sold any IP before, is there a legal formula that is used to determine the value of the IP and the selling price?
Asked on 5/14/08, 4:42 pm
1 Answer from Attorneys
Patrick Tracy
Patrick J. Tracy, Esq, P.E.,
Re: Sale of Intellectual Propery
This is a negotiated process. You need to hook up with a person or group who knows a significant amount about valuation of IP assets. There are a number of people in the Chicago area who can assist you with valuation and then have a patent attorney prepare a licensing agreement for you so that your assets are protected.
Good luck!
Answered on 5/14/08, 5:03 pm
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