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SELLING YOUR PATENT

SELLING YOUR PATENT. By Eric Corl, Idea Buyer LLC http://www.IdeaBuyer.com – The Online Marketplace for Intellectual Property. SELLING YOUR PATENT STEP 1. BE PREPARED Know Who Your Customers Are Know the Competition Know the Current Market Volume Know Your Manufacturing Cost

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SELLING YOUR PATENT

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  1. SELLING YOUR PATENT By Eric Corl, Idea Buyer LLChttp://www.IdeaBuyer.com – The Online Marketplace for Intellectual Property

  2. SELLING YOUR PATENT STEP 1 • BE PREPARED • Know Who Your Customers Are • Know the Competition • Know the Current Market Volume • Know Your Manufacturing Cost • Know Your Anticipated Retail • Know Your Anticipated Margins • Have Proper Presentation Materials • Know What Type of Agreement You Want

  3. SELLING YOUR PATENT STEP 2 2. BE POLISHED • Have Research to Back Up Your Product • Have Testimonials That Your Product Works • Have a Website • Have Letters from Potential Customers • Create a Business Proposal • Show the Company How They Could Integrate the Product into Their Line Up. • Sum it all up in materials you can leave behind.

  4. SELLING YOUR PATENT STEP 3 3. TARGET YOUR EFFORTS • Know Who Makes Competitive Products • Know Specific Manufacturers in the Industry • Conduct Research on Each Company PRIOR to Contacting Them • Establish a Warm Contact into the Company if Possible Resources: Thomas Register, Linked In, Idea Buyer

  5. SELLING YOUR PATENT STEP 4 4. BE PREPARED TO NEGOTIATE • Are you open to a licensing agreement? If so, are you open to an exclusive agreement? • Are you set on an outright sale? • Know the difference between % of gross profit, net profit, gross revenue. • Do not sign prior to reviewing any agreement with a lawyer. Any verbal should be noted as contingent upon attorney approval. • Do not be greedy.

  6. SELLING YOUR PATENT STEP 5 5. DELIVER A POWERFUL PRESENTATION • Use Numbers to Make it Come Alive • Eliminate Hype • Deliver In Order • Avoid “Happy Talk” • Focus on What Matters • The Shorter, The Better • Answer Tough Questions • Consult Your Patent Attorney • Rehearse Beforehand • Close with a Call to Action

  7. Sell Your Patent Resources IdeaBuyer.com – The Online Marketplace for Intellectual Property Full Article – 10 Tips for a Powerful Presentation Linked In – Linked In dot com Thomas Register – Thomas Register dot net Good Luck!! Eric Corl President Idea Buyer LLC 832-683-1527 EricCorl@IdeaBuyer.com http://www.IdeaBuyer.com

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