If you have ever wondered how to sell a patent if you are a proprietor and you are looking for a way to take advantage of this (potential) valuable asset, in the next lines you will find some simple and practical tips that will help to resolve your doubts.
Every product or service that we use in our daily life is the result of a long chain of inventions. Industrial Property, particularly patents, can be fundamental when it comes to converting ideas and innovative inventions into competitive products. In addition, having a patent on certain technologies significantly increases the profit margins of a company.
Some investigative efforts conclude in the creation of a patent that achieves commercial success through its own means, but in most cases, the necessary means are not available, so other outputs have to be sought to make the most of the effort employed.
Before continuing and to help those who are not completely familiar with the terms of Industrial Property, we remember that a patent is nothing more than an exclusive right of exploitation granted by a State that prevents third parties from benefiting from it. This development without prior authorization.
From this definition it follows that patents are territorial rights, that is, they are obtained in each country independently and through the corresponding patent office. The definition itself shows the possibility of selling a patent, which in practice means giving up the right to exclude third parties from developing technologies that use the patented invention. If we combine these two terms, it is easy to conclude that your patent can also be sold in regions where you do not have the capacity and/or commercial interest and obtain an “extra” benefit.
How to sell a patent?
The sale of a patent can be a profitable way of doing business, but obviously, it is not an easy task and requires means and resources. Initially, it requires detecting potential buyers, and secondly, making an economic estimate of its value. Both tasks are complicated and resorting to professionals who consider the peculiarities of the case is the best option.
• If you have an invention, do not hesitate: patent it, because in this development can reside the greatest value of your company.
• The value in detail where to extend the protection of your patent considering your capabilities and the markets of greatest commercial interest. At this point, you can decide if and where to market directly the patent or sell it.
• Make a detailed market study to detect potential buyers.
• Consultation with an Official Industrial Property Agent to know the legal situation and manage the sale to potential customers/buyers or interested parties.
• Offers the greater visibility possible to your invention, also taking advantage of the facilities that the Internet offers today. In this regard, we have created in our blog space for the promotion of inventions with the aim of putting in contact those holders of patents or utility models who are looking for an ally in the exploitation of their invention with the appropriate person or entity.
In conclusion, the strategic use of Industrial Property Rights can significantly increase the competitiveness of your company and generate income, as we have seen, though, for example, the sale of a patent-protected invention.