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THE PROCESS OF NEGOTIATING

The negotiation process involves four distinct phases: preparing,

discussing, proposing and bargaining.

The Preparation Phase

This is probably the most important, in that it is almost impossible to

recover from, or overcome, inadequate preparation.

The Discussion Phase

This is usually characterized by the licensor promoting the merits and

the opportunity offered by its technology, and the potential licensee

reviewing documentation and information under a confidentiality

agreement.

The Proposing Phases

the proposing phase, the parties are exploring the possible

relationship and the principal commercial terms.

the bargaining phase

the bargaining phase, the question might become, "If we grant you an exclusive worldwide license, then you have to double the sum payable on signing the agreement", to which the licensee might respond "If we double the dovvn-payment, then one half is to be credited against the future royalties payable to you on our sales of Licensed Products."

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