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Business licensing of your patent

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DerekL

Licensing your patent to a business: This is the preferred method of most inventors who have technical backgrounds and who also own the patent. In this option, you license your patented invention to an existing business for which your invention would be a profitable venture and after each sale or after a certain period of time, you will be paid royalties for your patent. We advise you to read about how to license my patent.


This is the most passive form of monetary benefit you could receive for your patent.


If the company you have licensed your patent to is significantly larger and covers a wider market with its products or services, then after each sale (even for a small fraction of the cost of the product), your money will be impressive, if not significant.


Terms of payment and percentage will be determined by general agreement between you (the patent owner) and the company (the licensee).


Approach: The ideal way to find such a business to license


do research and make a list of companies that work in the field of your invention, and then

scheduling a meeting with decision makers, and

present them with a plan for how this patented invention can fit well into their business and they can see a significant increase in profits

The most exciting part of this deal will be the monopoly that you and your licensee will have on your patented invention!!!


in other words,


“When a business sees that it would be profitable for you to license a patented invention, and what’s more, competitors can’t compete with this product or service because it’s patented…then companies will be more than willing to work with you almost every time.”


Another option would be to sell the patented invention.

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DerekL
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