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After developing a new product, inventors often obtain patents to sell their own ideas or grant manufacturing licenses.
Despite the fact that the product represents some kind of technological achievement, inventors sometimes face a wall of incomprehension. So what do you do if you want to sell your patents for a good price? It’s not easy. What doors do you have to open? Who should intervene? At what price should the invention be sold or licensed? You will learn all this in this article.
Protect your ideas
An invention must be protected by a patent, or utility model before it can be sold or commercialized. Without it, no one is going to buy the invention because they do not have the exclusive right. Therefore, a good patent or utility model is vital to the sale.
What is the best way to sell a patent?
First, you should do your research to determine which companies might pay to have a stake or license to own the invention. Once you determine which industry might seem interesting, you should make:
- a list of companies;
- a contact person;
- a telephone number.
Such measures will help to arrange a later meeting.
Determine the value of your patent
However, before contacting the companies, you should know at least approximately what your invention can get. You must be realistic, but also set a minimum price at which we sell or license no. To determine the selling price, you can seek the services of a patent examiner, who will mark up the market to put an approximate set price.
Start negotiating
Finally, and this is from a list of established companies, the contact person’s name, and your phone number, you have to start calling to close the appointment. You have to be patient.
On the other hand, the patents may also have a passive relationship with the sale or licensing of the patent or utility model. In this sense, we can limit advertising on specialized portals such as or placed in the hands of companies that seek investors or buyers of patents.
What can you do to get buyers interested?
You need to know that the invention disrupts the dynamics of the market. It does not auto-generate confidence, even with the support of a patent. There is a distant line between an invention and a good business opportunity, and this is where innovation makes sense.
Make sure your patent is uniqueÂ
There are “patents” and inventors everywhere. So it’s quite possible that someone else already had the same idea as you. But just because an existing product has the same function as yours doesn’t mean you can’t get a patent. By its very nature and your patent is not a result you want to sell, it’s a product to achieve a result. Of course, the goal is always to come up with the simplest, most efficient, and least expensive solution. A careful search for patent banks is necessary.
Have the concept validated by an expert
There is nothing like testing your idea with a specialist in the field. It’s not about giving him or her the right of life or death over an invention, but about getting useful feedback to improve it. Usually, inventors have a prototype of their product to show. This would be a great way to show the buyer the potential of your idea.
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