Wiki - LEGAL: IP, ROYALTIES, CONTRACTS, AGENTS, BROKERS

Industry Consultant Mike Hirtle breaks down one of the most confusing terms of a licensing agreement and shares his best practices for negotiating contract renewals.

Kim Vandenbroucke urges fellow toy/game inventors to specify the terms of termination when reviewing a contract. She also warns what may happen if/when those details are ignored.

Mike Hirtle defines "warranties," stresses the reasons inventors should pay more attention to the section of license agreements that deal with them, and gives contract-wording advice.

Trina McFarland addresses the lack of process-related, "not fun" discussion topics in the toy industry and describes the Inventor Relations concept management workflow and its relevance.