It is recognized that new products are essential for the survival of manufacturing companies, especially in these times of increasing competitiveness and free trade. Traditionally, companies developed their own products, but many companies are now wary of investing in R&D when the outcome is so uncertain, and so many products become obsolete within a short time of reaching the market. This book describes how the process of licensing can be used to find new products in distant countries and how the rights to manufacture and market them can be obtained, together with the production processes. A procedure for searching for new products is described which can be used by both large and small companies. Guidelines are given for assessing the technical and commercial aspects of licence offers and checking out the status of patents and other forms of protection. The book is orientated towards marketing.
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