How Much I Can Expect from a Patented Invention Idea?

1. How Much I Can Expect from a Patented Invention Idea? Trading in patents can help you generate good profits. Selling a patent (whether in part or in whole) is a feasible option if you are not able to make money out of it through other mediums. Also, if you are not capable enough to move your invention to the next level you can consider selling it and in doing so you can avail Patent Services from any experienced patent firm (Patent Services USA) to execute the process. Multiple firms provide Patent Services in the USA in exchange for an amount. A patent grants ownership to an invention as it is an important document. However, just owning a patent will not generate a dime for the inventor. Therefore, people trade in patent inventions ideas and make money. In this article, we will discuss everything you need to know regarding how much can you sell a patent for. So stay tuned and go through the complete blog. How much can you expect by selling your patented invention idea? If you have ever wonder, “how much can I sell a patent for?” Well, some factors determine this. First of all, for selling patent invention ideas, the holder of the patent must determine the quality of the underlying invention outlined in the patent. To make money out of your idea, you got to promote your patent, license utilization rights, or do marketing of your product by yourself. Organizations that are keen to purchase a patent must analyse whether the patent is well constructed or not. The companies need to figure out ways to extract the value from the patent.

2. Selling your patented invention idea – The Process Let’s assume that you are an inventor having an issued patent for a product and have been able to make it sellable. There are chances that corporate houses might develop an interest in your idea. There is a systematic chain of vendors where they help in promoting the product that ultimately reaches the right person. When such a scenario takes place, you can get great offers from corporations that you can’t refuse. Some people made millions by selling off their patents. Now let’s talk about the second option in which you have to simply market your patent directly to corporations. On one hand, it is undoubtedly a very effective strategy for selling your patent but on the other hand, doesn’t glutamate that you can fetch the highest price possible. This is because in the first alternative, the corporations are reaching to you and here you are reaching to the corporations to sell your patent inventions ideas. If the corporations sense that you just want to sell your patent, they might quote a price that you were least expecting. This approach can fetch an inventor to get an amount between $5,000 and $35,000 or even more if it is a patent that holds value. Many inventors hire patent firms to avail of Patent Services USA. This helps in such a way that these marketing agencies work according to a set pattern by keeping statistics on the success rate. If a company interested in your patent makes a product similar to yours, there is a chance to license that particular patent in place of selling the rights completely. Unless the product has been in the marketplace for a very long time, the cash earned from promoting a patent will not be significant. There is no need for a person who purchases a patent to spend as much as for an unproven product that may not fetch a significant amount of profit. Everybody wants to generate as much amount of profit as possible by promoting the patent. However, things are not as smooth as they sound. The inventor by promoting the patent is permitted to generate earnings as it helps in making payment and financing. This is feasible because promoting greatly helps an organization to eliminate a large number of expenses that are necessary at the time of inception. A fast, hassle-free payoff is maybe what you want and would prefer generally, but just consider the power of promoting a patent that offers you the best path to generate a significant amount of future income with your invention. Licensing the Usage Rights For inventors, licensing the right to use, make or sell your product is considered the most profitable way to make money. As a patent holder, you retain the invention’s ownership and earn royalty payments on the product’s future sales. Licensing can be granted to one or multiple companies. Your invention has a better money-making chance if licensed through a company that is well established and holds a considerate amount of Goodwill. Furthermore, the licensee assumes liability for any products accidents. Similar to selling the patent, licensing rights to use doesn’t provide a guarantee of constant money inflow. If the product fails to prove itself, the numbers from royalty will also decline. Royalty rates generally fall

3. between a brackets of 5% to 20%. Hence, the product should sell in huge numbers so that the patent holder is able to make enough money. Make sure that you invest some time in researching your licensee and contact inventor’s organizations such and United Inventors Association before signing over licensing rights. Assessing the Worth of Your Idea You can earn millions with your ideas if they are unique and compelling. But the risk of not succeeding gets triple if you are not able to patent your business idea. We have many popular examples in front of us, for example, a pharmaceutical company named Pfizer owns the rights to the most valuable patent in history. Pfizer monetized a drug called Lipitor with the help of the patent and made more than $130 billion. Since patents carry an expiration of a period of 14 or 20 years, the companies usually have a short window to acquire many profits. Therefore, after all the discussion, it is proven whether you are an individual or a company, if you are looking to monetize a concept or an idea to earn the highest profit possible, you need a patent. Selling or Licensing Options You can start with making a detailed list of vendors and potential customers of your invention. You can get help from Thomas Register which is available in libraries and online. The register contains the contact information of thousands of companies. You can take help from Yellow Pages and the Internet that contains useful tools to conduct in-depth research. You can project yourself as a product developer and not an inventor while contacting a firm. Try to schedule a face-to-face meeting with the company’s sales or product manager. This option is only feasible after securing the patent. Otherwise, you must ask the company to sign a non-disclosure agreement prior to discussing your idea with the company. However, there are chances that some companies may deny signing the agreement as their Research and development team may already working on an idea similar to yours. Another point here to mention is that you can attend commerce or invitation conferences where you will get a chance to meet firms and individuals who might be interested in buying your product. Contact us: Patent Services USA Address: 28 W Flagler Street, Suite 500 Miami, FL, 33130 Phone Number-888-344-6836

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