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obviously one of the most important things that a retail product inventor can conserve themselves with is getting a licensing contract for their invention now the industry has changed a lot over the years and moved towards people licensing their inventions versus taking them to market and and I think thats a good thing for most inventors but if youre going to do that you need to understand the processes of what youre doing one of those is the eventualities that you will get a licensing contract when you do you need to pay attention to some very specific things in those contracts now granted this is not legal advice and if you enter into a contract you should have it checked with an attorney theyre going to be able to tell you the ins and outs of that particular contract its very important that you have contracts checked by attorneys so they can protect your interest generally speaking a licensing contract has some very specific areas in it so lets go through them the first sectio