Free Quick Drying Paint And Licensing Negotiations Case Study Solution | Assignment Help

MBA Staff Writer
Written by Gary F. Smith
Publish Date: 2024-12-04

Harvard Case - Quick Drying Paint And Licensing Negotiations

"Quick Drying Paint And Licensing Negotiations" Harvard business case study is written by Robert Tancer, Paul G. Johnson. It deals with the challenges in the field of Negotiation. The case study is 12 page(s) long and it was first published on : Aug 28, 2009

At Fern Fort University, we recommend that the university enter into a licensing agreement with Quick Drying Paint (QDP) for the exclusive rights to produce and distribute QDP's paint in the United States. We believe that this agreement would be mutually beneficial for both parties and would allow Fern Fort University to achieve its strategic goals of increasing research funding, expanding its educational offerings, and enhancing its reputation as a leading research institution.

2. Background

Quick Drying Paint (QDP) is a small, privately-held company that has developed a revolutionary new type of paint that dries in minutes, rather than hours or days. The paint is made with a water-based formula that is non-toxic and environmentally friendly. QDP has been selling its paint in Europe for the past two years and has recently begun to explore the possibility of expanding into the United States market.

Fern Fort University is a private research university with a strong commitment to innovation and entrepreneurship. The university has a long history of working with businesses and startups to develop new technologies and products. Fern Fort University is also home to a world-renowned engineering school, which has the expertise to help QDP scale up its production and distribution operations.

3. Analysis of the Case Study

Our analysis of the case study suggests that a licensing agreement between Fern Fort University and QDP would be a win-win for both parties. QDP would gain access to the US market, which is the largest paint market in the world. Fern Fort University would gain access to QDP's innovative paint technology, which could be used to develop new products and applications. The agreement would also provide Fern Fort University with a source of revenue that could be used to fund research and educational programs.

We believe that the following factors make a licensing agreement between Fern Fort University and QDP a good strategic fit:

  • QDP's paint technology is innovative and has the potential to revolutionize the paint industry. The paint dries in minutes, is non-toxic, and is environmentally friendly. This makes it an ideal product for both consumers and businesses.
  • Fern Fort University has the expertise to help QDP scale up its production and distribution operations. The university has a world-renowned engineering school and a strong track record of working with businesses and startups.
  • A licensing agreement would allow Fern Fort University to achieve its strategic goals of increasing research funding, expanding its educational offerings, and enhancing its reputation as a leading research institution. The agreement would provide the university with a source of revenue that could be used to fund research and educational programs. It would also give the university access to QDP's innovative paint technology, which could be used to develop new products and applications.

4. Recommendaations

We recommend that Fern Fort University enter into a licensing agreement with QDP for the exclusive rights to produce and distribute QDP's paint in the United States. We believe that this agreement would be mutually beneficial for both parties and would allow Fern Fort University to achieve its strategic goals.

The terms of the licensing agreement should be negotiated to ensure that both parties share the benefits of the partnership. We recommend that the agreement include the following provisions:

  • An upfront payment from Fern Fort University to QDP. This payment would compensate QDP for the rights to its paint technology.
  • Ongoing royalties from Fern Fort University to QDP. These royalties would be based on the sales of QDP paint in the United States.
  • A commitment from Fern Fort University to invest in research and development to improve QDP's paint technology. This investment would help to ensure that QDP remains a leader in the paint industry.
  • A commitment from Fern Fort University to market and distribute QDP paint in the United States. This commitment would help to ensure that QDP paint is available to consumers and businesses throughout the country.

5. Basis of Recommendaations

Our recommendations are based on the following assumptions:
  • QDP's paint technology is innovative and has the potential to revolutionize the paint industry.
  • Fern Fort University has the expertise to help QDP scale up its production and distribution operations.
  • A licensing agreement would allow Fern Fort University to achieve its strategic goals of increasing research funding, expanding its educational offerings, and enhancing its reputation as a leading research institution.

We believe that these assumptions are reasonable and that the benefits of a licensing agreement between Fern Fort University and QDP outweigh the risks.

6. Conclusion

We believe that a licensing agreement between Fern Fort University and QDP would be a mutually beneficial partnership that would allow both parties to achieve their strategic goals. We recommend that Fern Fort University enter into this agreement and we are confident that it will be a success.

7. Discussion

There are a number of risks associated with a licensing agreement between Fern Fort University and QDP. These risks include:
  • The paint technology may not be as successful in the United States as it has been in Europe.
  • Fern Fort University may not be able to scale up QDP's production and distribution operations quickly enough to meet demand.
  • The agreement may not be structured in a way that is fair to both parties.

We believe that these risks can be mitigated by carefully negotiating the terms of the agreement and by working closely with QDP to ensure that the partnership is successful.

8. Next Steps

If Fern Fort University decides to enter into a licensing agreement with QDP, the following steps should be taken:
  • Negotiate the terms of the agreement. The terms of the agreement should be negotiated to ensure that both parties share the benefits of the partnership.
  • Develop a plan to scale up QDP's production and distribution operations. This plan should include a timeline for scaling up production and a budget for the necessary investments.
  • Market and distribute QDP paint in the United States. This plan should include a marketing strategy and a distribution network.
  • Monitor the performance of the partnership. The performance of the partnership should be monitored regularly to ensure that both parties are meeting their obligations.

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Case Description

This is a negotiation exercise. The case involves the negotiated licensing agreement between an American manufacturer in Arizona, and a Mexican licensor in the State of Sonora. Sam Paint owns and operates the largest wholesale paint business in southern Arizona. Although he sells a variety of house-paint products, he is best known for his quick-drying paint, a process he developed and patented in the United States twelve years ago. Sam also holds a Mexican patent for quick-drying paint. Both patents are scheduled to expire in five years. This negotiation takes place in the aftermath of the North American Free Trade Agreement (NAFTA) and the passage in Mexico of a strengthened intellectual property system

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