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Date Created: 12/22/15
Selling a Patent For the corporations and entrepreneurs who is seeking for a profit you must either sell a patent, or license the usage rights, or manufacture and sell the patented product yourself. For that there are various profit to sell a patent . For many people, the payoff is a motivating factor in their decision to sell. While there are variuos patents issued every year, only a minority of patents end up generating profits from production and sale of the invention. Choosing to Selling a Patent outright at least guarantees some financial gain for all of the time and effort put into your patent process. It also rid the large investment that would be required to open a business to produce the new product. However, when you sell your patent you also give up rights to future profits from the invention, and the money you can gain from selling a patent is often not that substantial. Patent selling is a simple way to monetize intellectual property. This is a best option for those who lack the resources to bring the new invention to market. In order to sell a patent successfully, you must be able to demonstrate to potential buyers that the patent are very useful for the firm. The potential downsides of selling your patent should also be understood clearly. It’s possible that the product becomes very successful and generates much more for the new owner than what they paid you for the patent. There are various steps to be follow to sell a patent. Step 1 Create an idea that how prototype works, this helps to generates the interest among various buyers and sellers to shows them why your invention is advantageous in the market. Step 2 Evaluate the monetary value of your idea with the help of a business consultant. Knowing the patent idea's in the market . Step 3 Conduct online research and identify legitimate websites that can help you sell your invention. Choose a patent website with favorable terms and conditions and a good patent-selling record.You can easily post your patent view on some sites, while others might charge a commission upon making the sales directly that can use your invention. Step 4 Finding out a potential buyer and demonstrating to him how your idea works, retain an attorney specializing in contract law and intellectual property rights to help you with negotiations, agreement sheet assessment and regulatory issues. Step 5 Prepare a patent license with your lawyer that clearly outlines issues such as payment methods and period and patent markings; this involves inscribing the patent number of the product to market your invention's achievements. Step 6 Meet the potential buyer in your lawyer's presence and sign the agreement and patent transfer forms.Avoid accepting the money in installments, as a single lump sum payment eliminates future follow-ups and gives you the opportunity to pick up another project.
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