Practical tips to know how to sell a patent

Practical tips to know how to sell a patent

To know how to sell a patent, we should ask ourselves before: Why to sell a patent.

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If you have ever wondered how to sell a patent if you are a proprietor and you are looking for a way to take advantage of this (potential) valuable asset, in the next lines you will find some simple and practical tips that will help to dispel your doubts. Every product or service that we use in our daily life is the result of a long chain of innovations.

Some research efforts culminate in the creation of a patent that achieves commercial success through its own means, but in most cases, the necessary means are not available, so other outputs have to be sought to make the most of the effort expended.

Before continuing and to help those who are not completely familiar with the terms of Industrial Property, we remember that a patent is nothing more than an exclusive right of exploitation granted by a State that prevents third parties from benefiting from it. This development is without prior authorization.

From this definition it follows that patents are territorial rights, that is, they are obtained in each country independently and through the corresponding patent office. The definition itself shows the possibility of selling a patent, which in practice means giving up the right to exclude third parties from developing technologies that use the patented invention. If we combine these two terms, it is easy to conclude that your patent can also be sold in regions where you do not have the capacity and/or commercial interest and obtain an "extra" benefit.

To know how to sell a patent, we should ask ourselves before: Why to sell a patent.

A patent is part of the defensive strategy of a company in the market, but it is also a valuable asset that can be capitalized through its

• Direct exploitation,

• Sale or

• License (the patent owner gives exclusive or no rights of exploitation in exchange for compensation).

5 Tips to How to sell a patent?

The sale of a patent can be a profitable way of doing business, but obviously, it is not an easy task and requires means and resources. Initially, it requires detecting potential buyers, and secondly, making an economic estimate of its value. Both tasks are complicated and resorting to professionals who consider the peculiarities of the case is the best option.

Our advice:

If you have an invention, do not hesitate: patent it, because in this development can reside the greatest value of your company. Remember: preserves its novelty until requested.

Value in detail where to extend the protection of your patent considering your capabilities and the markets of greatest commercial interest. At this point, you can decide if and where to market directly the patent or sell it.

Make a detailed market study to detect potential buyers.

It offers the highest possible visibility to your invention, also taking advantage of the facilities offered by the Internet today. In this regard, we have created in our blog space for the promotion of inventions ideas with the aim of putting in contact those holders of patents or utility models who are looking for an ally in the exploitation of their invention with the appropriate person or entity.

In conclusion, the strategic use of Industrial Property Rights can significantly increase the competitiveness of your company and generate income, as we have seen, though, for example, the sale of a patent-protected invention.

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Bonnaroo Is Unlike Any Other Music Festival

4 days of camping, 150 performers, 10 stages, and the most incredible experience you'll ever encounter in the middle of Tennessee.

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The Bonnaroo Music and Arts Festival takes place in an enormous 700-acre field -- nicknamed "The Farm" -- in Manchester, Tennessee. Festival-goers from all over the country fly, drive, or walk into the festival to experience 4 days of music, activities, and food. This past weekend was my first time going, and I can without a doubt say that it was one of the greatest experiences of my life. One of Bonnaroo's common sayings is "Radiate Positivity," and the 4 days spent there are factual evidence of the saying. At Bonnaroo, there is no stress, no worry, and not a care in the world. People of all kinds come together each year to celebrate life, love, and music without judgment. Each person's authenticity was something I noticed as soon as I stepped foot into the festival.

You can embrace your true self without apology. Each person is there to lift you up, too.

The atmosphere is much different than anything else I have experienced before. Even when my friends and I felt tired, or if the sun was just too hot to bear, we still did not mind being on our feet for hours on end. We enjoyed being exactly where we were, despite the minor inconveniences we may have faced -- like sitting in 5-hour traffic to get into the campground! I may sound crazy for saying this, but time truly did slow down while we were on The Farm.

My friends and I pulled up to the campground at 6 a.m. on Thursday morning as The Farm buzzed with people. We were too excited to go to sleep, so we spent the morning exploring the place instead. Day or night, everyone was alive with smiles that were contagious. We heard the words "Happy Roo!" from friends and strangers alike.

No matter where you came from, everyone was family at Bonnaroo.

One thing I noticed this past weekend was that everyone was there to help one another. If we needed help with setting up our tent, our neighbors who camped next to us were there to help in seconds. If someone tripped and fell, three people would be there to help the person up. If someone needed a few bucks for water, there was someone in line who was more than willing to cover the cost. I felt so at home there, as if I was a part of this community consisting of all types of people. I felt like I belonged there.

Alongside incredible people and a fulfilling community, there was stellar music as well (of course!). Headliners such as The Lumineers, Post Malone, and Kacey Musgraves rocked The Farm with new and old hits that hyped up the crowds.

Each performer reminded us that Bonnaroo is a safe place and does not discriminate against any person.

Hearing these words so often gave me so much hope for this world and the changes we can make. Bonnaroo is known as a Music and Arts Festival for a reason because it also promotes and sells eco-friendly living and handmade creations all throughout the festival. The activities that are available to attendees set the festival apart from other music festivals.

Bonnaroo connects us all through music, acceptance, and love. I can't wait to go back next summer!

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What are fundamental steps of patented process in invention?

Do you have a talent or "great" ideas that you would like to put into practice, but are you afraid that someone is doing the same thing as you? Undoubtedly, that is the "terror" of many digital entrepreneurs: that someone copies their ideas!

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Do you have a talent or "great" ideas that you would like to put into practice, but are you afraid that someone is doing the same thing as you? Undoubtedly, that is the "terror" of many digital entrepreneurs: that someone copies their ideas!

That is why, if you have been postponing your dream due to that reason, calm down, because you can register your invention to obtain the protection for the right of patents.

That you did not know?

Well, that's what we'll talk about in this post, showing you what you need to know to register, or patent, your invention! First of all, you have to know that ideas as such are not patentable and that you find out through the requirements of patentability. Of course, these conditions change depending on the country where you are, so in this post, we will offer you the main fundamental steps of the patented process.

1. Make sure your idea is not already registered

First, answer the following questions:

• Do the modifications that I have been making in my (product, machine, and process) improve what I do or is there in the market?

• Do the best ones that I have put into practice solve technical problems of operation, use, efficiency, and costs?

Then, perform the following steps to find out if it is possible to patent your invention:

• Identification of the characteristics of the invention

• Drafting of a patent document

• Presentation of the application before the responsible entity

2. Make a patent application

It is important to submit the application before publicly disclosing the details of the invention ideas , because, in general, all inventions published before the application can be considered as part of the state of the art.

In countries where the definition applies, public disclosure would prevent patented as it violates the novelty requirement. However, in some countries, there is a grace period, usually from 6 to 12 months.

In addition, you also have to verify the documents you must submit. That part is quite important because it implies:

• Application duly completed and signed, in four copies.

• Proof of payment of the fee. Original and 2 copies.

• Description of the invention.

• Claims.

• Technical drawing (s), if applicable.

• Summary of the description of the invention.

3. Wait for the publication of your application

After having entered the formal patent application, you have submitted the documents and paid the patent deposit, you should only wait for the publication of your application.

4. Request your patent application exam

Even if your project has gone through the previous process, you still do not have the patent. You need to ask for the patent exam from a patent examiner who will evaluate your idea. At that time other people can answer the patent of your idea and present evidence against the registration.

5. Do not forget to pay annual fees

In addition to the official filing fees that apply in each country, after the patent office grants the same, maintenance or renewal fees have to be paid, usually once a year, in order to keep the patent in force.

Normally, payments are made before the corresponding annual period begins. The due date for the payment corresponds to the anniversary of the date of presentation of the patent application.

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