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A Patent Seller’s Prospective

A Patent Seller’s Prospective. October 24, 2007 Richard Baker, Director of Intellectual Property Licensing, 3Com. Overview. To successfully sell patents, one needs to: Pick the patents Select the Preferred Process Package the Product Promotion and Presentation Procure the Payment. P.

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A Patent Seller’s Prospective

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  1. A Patent Seller’s Prospective October 24, 2007 Richard Baker, Director of Intellectual Property Licensing, 3Com

  2. Overview • To successfully sell patents, one needs to: • Pick the patents • Select the Preferred Process • Package the Product • Promotion and Presentation • Procure the Payment P

  3. Picking the Patents

  4. Fit into your corporate strategy • Patent Sales must be determined in the context of the goals and missions of the overall corporation • Strategic direction • Policy • Resources • This is the crux of world class patent sales…being an integral part of your organizations goals and missions

  5. Find easy patents to sell • Limited lot • Complex groups need different selling venues • Valuable, with infringement footprint • Stand alone or with few components • Few warts

  6. Be careful with key patents to your business • Grant back critical • Reserves • Evaluate impact should your most hated competitor buy this patent

  7. Preferred Process

  8. Why Sell your patents • Revenue • Limit Maintenance fee expenses • Strategic partnership

  9. Techniques – Direct Sales

  10. Techniques - Brokers

  11. Techniques - Auctions

  12. Packaging the Product

  13. Buyer’s concerns • Recognize the buyers risk and need to limit/understand the risk • Think about their unknowns • And try to allay their concerns

  14. Make it easy for the buyers

  15. Build trust • The value of your trademark – can buyers trust you • Set a high but reasonable reserve • Meet with buyers – phone, in person, email, where ever needed

  16. Promotion and Presentation

  17. Take every chance to sell your patent • Booth at the Auction or Trade Shows to increase visibility • Samples, brochures, trinkets, and Ribbon patent • Give speeches • Be visible and available

  18. Auctions • Help the auctioneer to sell • Meet the auctioneer’s deadlines, return their calls • Catalog is very important

  19. Direct Sales • Send out promotional materials • Email promotional materials • Call prospective buyers • Follow up • Be available to answer questions

  20. Brokers • Help them sell • Review and evaluate the patent • Assist the broker in preparing materials and presentations • Be available to answer questions

  21. Procure Payment

  22. Close the deal • Auctions – simple, the deal closes with the drop of the gavel • Deals • Evaluate offers in a reasonable timeframe • Be flexible and creative in responding to offers • Keep your “reserve” in mind but be open minded • Terms and conditions • Never make an offer that you can not live with if accepted • Leave closed issues closed

  23. Close the deal (continued) • Sign the agreement as soon as possible • Monitor for compliance • Turn over materials when due • Make sure payments are received • Comply with all other terms • Celebrate !!!

  24. Questions

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