Alrighty! First thing I just got the first office action on my second patent. Looks like I got a little carried away and they want me to better define exactly what I want to protect in one application. I offered too many options, some of which where simply to avoid others from getting a patent on a similar idea. They weren’t near as functional, and secondly, technology simply doesn’t exist today to even manufacture due to physical properties of plastic.

Now! I’ve been offered a licensing agreement. Some of you know that. The licensee has shown it to four retailers, and all four are interested in stocking inventory. But the agreement doesn’t protect me. It only would give a little hope for payout “someday”. I’ve revised it, added concerns, and sent it back to the licensee. Understandably, they are not tripping over each other anymore to sign on the dotted line. I added accountability if the want to be the manufacturer. It won’t cost them anymore now, than under their own original agreement. But if they don’t sell, they will eventually lose the right to have exclusivity.

I didn’t set it up expecting to pay off my house or buy a new car, but based on the minimal return I recieve, the low risk, proven market, demand, and potential distribution, and established manufacturing methods, etc I feel I’m being pretty reasonable and my expectations are no higher than any other. But, I’m not giving away my IP for Hope. I figure I’ve payed my dues and was willing to work for the reward. My licensee will have to do the same.