Setting the Table to Resolve Technology Licensing Disputes in Beverly Hills CA
Dec. 2, 2022
Many savvy inventors make the decision to license out their new technology while it is a fresh idea, rather than wait for the longer period of time that would be necessary to build the infrastructure to create their own products to use this technology. This provides a win/win situation for both parties because the inventor receives a steady revenue stream while the investor has the ability to maximize its own capital. However, technology licensing disputes in Beverly Hills California can arise when the terms of the licensing agreement were not clear or the result of the licensing is different than the parties imagined. Going through mediation can help resolve technology disputes in Beverly Hills California. A strong mediator will help set the table for an agreement at the outset of this process.
Most mediation sessions begin with a joint meeting between the parties, their counsel and the mediator. The mediator may begin by discussing the framework of mediation. He or she may ask each party to summarize their version of events that led to the dispute. The mediator may summarize the key issues that will be resolved during mediation.
During this joint session, the mediator may also discuss the inherent risks of not resolving the dispute, such as the possibility of litigation. Litigation has the potential of being a time-consuming and expensive process. Additionally, the remedy may be limited to money damages when a different agreement may have better served the parties. The mediator may discuss the benefits of reaching a compromise and coming up with a certain agreement.
In many situations, a well-articulated discussion at the beginning of mediation serves as a good jumping off point that establishes parameters for the discussions that will comprise mediation. The parties may think back about what the mediator said during the joint session if conversations become turbulent.