0816_TOEFL-Test-and-Score-Manual-1997

130 ● 201 Great Ideas for Your Small Business
How to Make a Distribution
Deal with a Bigger Company
• Find the right person to contact.
• Sign a nondisclosure agreement before you share your idea.
• Present your concept in a clear, concise manner.
• Be well prepared for your first meeting so you make a positive
impression.
• Surround yourself with experienced advisers, including your
attorney and accountant.
• Be patient. Things take longer to be decided at big companies.
• Don’t appear too anxious or naive, even when you are eager to do
the deal. “It was very exciting for us when we first met with Avery,”
said Sherman. “But, we all had to wear our poker faces.”
Sherman said you must be patient. Big companies move slowly. It
took 10 months to sign a deal from the date they signed a letter of intent.
“You also need to be flexible because the players often change within a
corporation.”
GREAT
IDEA
Take Advantage of an Online
Technology Exchange
Licensing new technology to other companies is a winwin
scenario for everyone involved. Licensing deals
can create new opportunities to grow your business. One simple way to
find a product to license or to expose your intellectual property to potential
licensees is via an online technology marketplace.
That is how Frank Jaksch, former CEO of ChromaDex Inc., connected
with German pharmaceutical giant, Bayer. ChromaDex is a small