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Many emerging companies plan to commercialize their products and grow their companies through licensing deals. By focusing on life sciences licensing and partnering “deals”, many company leaders make the mistake of thinking “it’s just a deal” that is a onetime event rather than a strategic process that requires preparation, implementation, and on-going partnership relations.

Experience is not only necessary in giving you confidence in what they can do for you, but it plays a huge role in how empathetic the practitioner is. In such a trying time for your business, you deserve to work with someone who understands what you are going through and someone who listens to you. The experience will put the IP in a position to guide you through the process even emotionally and find you solutions you can feel confident in. It is most advisable to work with an IP you feel completely free with.

The only thing you can rely on is their previous dealings with other sellers assuming that they were outstanding and beyond reproach. You may do some checking up on these enterprises by dropping a line to agencies that oversee business registrations and licensing and ask if there had been previous complaints filed against them or if they have been reprimanded for any infraction in the course of their conducting business. Check with your city clerk to tell you where to go to obtain certain licenses.