In working with technology suppliers through time, I often find that these businesses are making common errors that devalue the firm, endanger their long term health, or leave revenue on the table. So this particular post identifies the top ten of these errors that will help you prevent making them.
Failure to register a national copyright for business-developed software
Your firm has spent perhaps years, and months developing the next-big-matter. You are out there licensing it to customers, attempting to optimize your earnings, and fighting off rivals. What would you do if your software was being misused by a customer? What will happen if a competition was copying parts of it to utilize in its merchandise? There are many methods to react to these issues, however among the most easy to way to reinforce your claims would be to register a copyright for the software together with the United States Copyright Office. Enrollment gives you an increased ability to truly have a court prevent infringing use of your program, as well as a greater number of damages which are recoverable. The best part is the fact that enrollment is affordable and comparatively simple.
Licensing technology overly generally
So you have landed that big deal with that large customer. You have attentively priced the deal based upon your expectations of the means by which the customer will make use of your technology – by a particular group within the big organization of the customer’s. You are expecting the success of the deal will result in a greater adoption of your technology within the company’s remainder, and finally more revenue for you. Sadly, you later discover that your technology is being shared by this one group with no additional license fees to you personally, through the remainder of the organization, and there is nothing you can certainly do about it. Why? By neglecting to narrowly and attentively draw up the permit grant in your deal, you have unwittingly given the rights to make use of your technology to the whole business, and you have left a heap of money on the table.Failure to supply care policies as well as comprehensive support
Too frequently, once the technology of a firm is prepared to be licensed, deciding the best way to support the technology becomes an afterthought. General and non-illustrative obligations like “supplying phone and e-mail support” and “providing upgrades” are invitations for disagreements and missed expectations. When is telephone support being offered? How fast are you going to react to issues? What upgrade and is considered and what’s a fresh merchandise for which the customer would bill individually? Many times, you want your client to give you specific information regarding the issue before you can diagnose and repair it. Set in your support as well as care policies and avoid these problems later on.
. Not contracting customers to support fees that are recurring
Customers need and expect that you’ll be there to support your merchandise, help with issues, and supply upgrades to them when you add features or fix bugs. Customers also expect that they will be often charged by you for these services, so why do so many technology vendors sell a product to a customer and neglect to structure routine and recurring support fees? I