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In this tutorial, Steve discusses the importance of being prepared before obtaining a licensing agreement. He emphasizes that having a well-prepared provisional patent application can give you leverage during negotiations. To achieve this, it is crucial to ensure that the application has perceived value and is valuable to potential licensees. He highlights the need to include comprehensive details such as manufacturing processes, materials, workarounds, variations, and drawings in the application. Steve also mentions a program called Smart IP, which provides guidance on creating an effective provisional patent application.
