license agreement

First, do you have a Patent for your invention? I can't tell by your statement.

yes my invention has been patent since 2001, and there are a few pens on the market similar to mine but not with the technology that I have.

You will find it much easier to sell your product if you have a working prototype, I suggest building one ASAP. Do a patent search to make sure there is not already a patent on your technology. Then apply for a patent before you contact ANY company about manufacturing or marketing your product. If you work for a large corporation, check the employee handbook for any conflict of interest. Some companies own you and your ideas (legally).

Because it is very possible for two or more individuals to come up with the same or similar ideas about the same time. (Particularly if it fills a need or solves a common problem), it is wise to save all worksheets, scratch paper, notes, etc. Do not destroy any of these. Date them, and file them consecutively. Then if there is a patent infringment lawsuit in the future, the patent judge can study your working notes to help determine the rightful owner to the patent. Notarized diagrams are also very useful for this purpose.

I agree with everything you say.

However, " I was told my product is lucrative and the technology is not on the market yet." and, "but all material needed is on the market already." may be a problem.

The first statement implies that the product has had some casual exposure, at least in concept. I hope some non-disclosure agreement was in place then, and no documents changed hands.

The second implies that there is nothing to deter the recipients of this information from exploiting it themselves, even with a non-disclosure in place.

This makes supporting documentation critical.

But, then, what do I know?

my product was patent in 2001 and the market research that was done showed a few products similar to mine even though the my technology is more advanced and would cost less to make. I was told that the companies that own them have more money and a lot more experience than I.

seems like you've had particular experience in this matter. so a GA to you!