The Cavendish Management Resources IPR programme ensures intellectual property is technically and commercially protected and developed to maximise royalty revenues. It operates as follows:

• CMR agrees with the owner of the IPR its terms for involvement - which will usually be for a minority equity share in the invention.
  
  
• If external funding is required, CMR will introduce members from its private investor bank, as appropriate.
  
  
• The security of the patents (or other IPR) will be fully reviewed. This includes not only technical security aspects, but also the risk to the IPR of attack from third parties. In addition, if substantial overseas royalties are likely to be received, the question of tax planning will also be addressed.
  
  
• The licensing strategy will be agreed, including targeting of prospective licensees, method of approach,type of agreement sought and up-front payments and royalty rates required.
  
  
• A marketing package will be prepared, to present the product in the most beneficial way.
  
  
• Negotiations will begin with target licensees. The objective is to have as many as possible keen to finalise a deal in the same time frame. In this way, initial payments, royalty rates and other contractual conditions can be maximised.
  
  
• Negotiations will be continued until the desired deal is completed and the legal aspects finalised.
  
  
• The licensing agreements reached will be policed to ensure the correct royalties are paid during the life of the agreement.