How to Earn Money from Your Patent?
Here are a few tips to monetize a patent
- Do not sell only role: First: a patent is a hard sell until I have some activity around it, a patent alone for now it's just paper. If you can build a prototype made must be taken before selling. It is better to have the more contacts established, than the more partners in the project we have. All this adds value to the project of the patent and presents it as a possibility more real business.
- The most direct is already started selling a business: this is evident. If we save the buyer all the headaches of starting the activity, we can demand a higher price and better conditions, because what we are selling "ready to grow".
- If there is no media, best by a Start Up: If you do not have capacity only starting the business, your best values are the technological knowledge. Become a good portfolio of "technological knowledge" and negotiate with it. Do not go only to the patent also includes your technical assistance, possible ways of future development, etc. to do what comes to mind! There are so many law firms like Fort worth patent attorney law firm can guide you in patent related issues.
- Licenses can be good business opportunity: but with nuances. For example if you are going to create the business, the more evenings to grant licenses control you have over the invention itself. It is also important that when granting licenses, and limits on the technology area being treated very carefully defined.
- The Patent Brokers: there are groups and large companies within certain technological fields trying to create their "patent portfolios" in order to try to secure a dominant position in a given market. They maintain their patent portfolios with the help of experienced Fort Worth patent attorney. These gentlemen have large groups investigating patents are published and made offers on which they think may be of interest for their contractors. These gentlemen charge high commissions if they sell the patent, taking a chunk of the sales contract. If you have not only a patent, but a set of patents in a particular field (not spread from one another, but patents covering related but much of that field), there are chances of making millions in sales.
- Be careful who you marry: because you have to keep in mind that if you give a license to Samsung, Nokia will consider the competition and will not want to collaborate on future projects. Conversely also it happens, so you have to study very well with whom deals are made and what consequences will such dealings on the other.
- If your project is not yet fully: Please note that your patent may still have value. Maybe you can sell discounted price. Do not reject a value of your company, but may have not produced the expected results, may consider other people with possibilities.
These tips serve who will start an exciting activity is to bring up his own project.