Ad
related to: should you sell your patent or license usage rights to anotherIndustry Best in Invention & Patent Services. Develop your Invention Today! Work with Top of the Industry Invention & Patent Services. Guaranteed Confidential
Search results
- You may sell all or any part of the invention, though selling is rarely recommended. While your patent may not have a current application, or you may not discern it, the future could hold commercial opportunities unforeseeable today.
lemelson.mit.edu/resources/inventor-handbook/chapter-8-what-are-some-options-commercialize-my-patentChapter 8: What Are Some Options to Commercialize My Patent?
A patent is a legal right to prevent others from making, using or selling your invention for up to 20 years in the country or region where your patent is granted. You can patent products, processes, machines, chemical compositions and improvements or new uses of any of these.
- Option 1: Take The Money and Run
- Option 2: License The Usage Rights
- Option 3: Do It Yourself
- Ways to Go About Selling Or Licensing Your Invention
When you sell a patent, you are guaranteed a quick payoff for your idea. Thousands of inventions are patented each year, but only a minuscule amount actually generate substantial, if any, profits. Some languish so long that their patent expires. By selling a patent outright, you at least gain some financial reward for your invention. Although a qui...
Licensing the right to make, use, or sell your product is usually the most profitable route for inventors. As patent holder, you retain ownership of the invention and earn royalty payments on future sales of the product. You can grant an exclusive license to one company or several companies. Your invention stands a better chance of generating big b...
If you make and market your invention yourself, all the profits will go to your bank account. However, those profits may be eaten up by legal and accounting fees, business start up costs, and headache medicine. Most inventors make lousy business folk. Unless your invention requires scant start up capital and you are well-versed in business bureaucr...
Make a list of manufacturers and potential users of your invention. The Thomas Register, available in libraries and online, has contact information for thousands of companies. The Yellow Pages and Internet are also good research tools. When making contact with a firm, present yourself as a product developer, not an inventor. Request a face-to-face ...
- Beverly Rice
Sep 14, 2024 · The three most common methods available to patent owners are: to manufacture and market the patented invention independently; to sell the patent to another entity; or. to license the patent to one or multiple entities. This article deals with licensing.
Feb 5, 2019 · Licensing involves a legal written contract where you the owner of the patent are the licensor, who grants rights to your patent to a licensee, the person that wants to license your patent. Those rights can include: the right to use your invention, or copy and sell your invention.
- Mary Bellis
Through a patent, the government gives you, the inventor, the right to stop others from making, using or selling your invention from the day the patent is granted to a maximum of 20 years after the day on which you filed your patent application.
What IP rights can be licensed? A licence most often involves IP rights that can be registered—trademarks, patents, copyrights, industrial designs and plant breeder rights. However, it is possible to license IP that is not yet formally registered, such as patent applications, or IP that cannot be formally registered, such as trade secrets.
People also ask
Should you sell your patent or license usage rights?
Should you sell a patent outright?
Can a patent be a licence?
What happens when you sell a patent?
Does a patent application have exclusive rights to a product?
Can a patent be sold later?
Jul 31, 2009 · Inventors should be aware that the patent itself won't generate an income for the inventor, but licensing or selling the patent rights to another person or company will. Of course, whether it's a new product or a new technology, there's no guarantee that an inventor will get rich off of the invention.
