Selling Your Patent
A Simple Guide to Selling Your Patent, Selling a Patent, Sell a Patent
Selling a patent can be a great way to turn stagnant but valuable intellectual property into cash. Selling a patent is a great option for those who don’t necessarily have the resources to bring a product to market themselves yet can show the potential the patent would have if produced and marketed. This article discusses how to increase your chances of selling your patent and provides a basic education on the subject.
Selling A Patent: Critical Elements
To sell a patent, it is critical that one can demonstrate that it is valubale, that potential customers are interested in it, and have an idea of how much they want to receive in exchange for the patent. It is also critical that the patent is presented for sale to companies in a professional manner and for what it is; a business opportunity. While selling a patent can get complicated, that is a good problem to have. The key is to market your patent as much as possible and get interested parties to the table. It is better to fire and then aim rather than get locked into paralysis analysis. If companies do not know about your patent, they cannot make you an offer or plan on putting the product into their product line. Get out there and do what it takes to reach companies.
Selling Your Patent: Sacrifices
That said, there are some potential drawbacks to selling. After all, what if it becomes a huge hit? More concretely, what if you sell your patent for $100,000 and it generates $10,000,000 in profits for the new owner? This is a very real possibility that you must reckon with before selling. For many people, this possibility is enough to scare them (irrationally) into rejecting perfectly good offers and holding onto their patent indefinitely. However, you can and should make this decision intelligently. Think long and hard about your idea. Is it so innovative, so groundbreaking, so over-the-top revolutionary that it is going to redefine an industry? Or are there similar products out there for sale already? In the former case, you might want to hold on to your idea or hold out for a higher sum. In the latter case, however, you need to realize that as the intellectual property ages it could become worth less money and you could be missing out on big opportunities. Our recommendation is to also consider licensing if you are interested in future profits (There are many companies that are open to licensing as it provides less up front cash and puts some of the risk on the patent owner. Licensing your patent grants exploitation rights to a licensee in exchange for royalties and performance options to ensure the licensee acts to make the patent a success for you. For a more in-depth explanation of patent licensing, see our article on the subject.)
Selling Your Patent: Making the Pitch
How do you actually go about selling a patent? Several options exist, and you should choose the one that best matches your strengths and resources. One way to sell your patent is through direct contact. While working with personal contacts is ideal, many patent holders do not have the network to be personally introduced to executives. When you do make contact with a firm, you want to present yourself as a business man or woman (I.E.- Product Developer, Founder, etc), not a mere inventor. This exudes an air of professionalism that established companies prefer. Then, request a face-to-face meeting with a Sales Manager or Product Manager within the company. Now, a word of caution is in order. You only want to schedule such a meeting if and when you have secured a patent for your idea. Otherwise, you have to ask the company to sign Non-Disclosure Agreements which they are unlikely to sign for standard business reasons. Therefore, a patent is your best (and often, only) means of selling your patent through direct contact methods. Here, you will encounter companies or people interested in your product and potentially buying it.
Selling Your Patent: Focus on Generating Interest
If you have secured the patent already, you are in prime position to market it to interested parties and evaluate potential buyers in your quest to profit from your labor. You can create a listing on our website in less than 10 minutes and immediately expand your network to thousands of companies that are looking for innovative new products to license or purchase in their industry.
Eric Corl is the Founder and CEO of IdeaBuyer.com, the online marketplace for intellectual property. The site helps innovators generate interest among consumer product companies, entrepreneurs, retailers, and manufacturers. You can email him at EricCorl@IdeaBuyer.com. You can visit the site by clicking here > Patents for Sale.
January 4th, 2008 at 7:29 pm
Eric,
I read your article friday, printed on idea buyer. I have a patent , which I’m interested in selling. Can you give me a little more insight on how to begin. You seem to be quite knowledgible in this arena. Any assistance you can provide will bre greatly appreciated.
February 6th, 2008 at 9:05 am
I am so fortunate to have happened on to you. I see nothing but success, no pie in the sky promises or idle conversation, nor unsoliceted advice. However I may be asking for some shortly! You went right to work, and I am confident it shall pay off! Your Due Diligence was fast and it showed. I just may become your #1 Fan!! Thanx Eric. E. Morton
April 9th, 2008 at 9:15 am
hi ya i also have a some things that i came up with , i allready talk to this one company called, davision invention , but it kind of fell like there scaming me out of money and they want me to pay them 600.00 something i really dont have, but they want to use my product, but i did not give them my other invention so i would like to sell the ideal, if i could my email is Bponyi@yahoo.com
April 10th, 2008 at 12:37 pm
Hi, I have a patent I would like to sell, liscese, or bring to market. Can you help. Dennis
April 29th, 2008 at 2:17 pm
Hi, I am so glad I found this site to ask questions.
I have a patent that has 3 inventor names on it. The two names were the production guys thinking that with their names on, the product will see the sun easier. Now, question is I decide not to go for production since the money involved is just way too much. If I sell the patent what is my legal bottomline if the other guys really had no involvements to show? Do I have to get an ok from them and share 2/3 of the benefit derived in selling?
Thanks to all inputs.
Bill
July 4th, 2008 at 12:17 pm
In response to Bela, I also checked out Davison Invention and was really skeptical of the conversations with them, searched them on the USPTO’s complaint list…there were many. Some real sad stories about people who literally lost lots of money and thier idea stolen by them. This is why ANYONE who is looking to market thier idea must research the company.
This is why I’m so glad I found IdeaBuyer. I would hope anyone seeking to list thier product go with them. Just get on the IdeaBuyer site and look at how and what they can do..there is so much info you can self-teach yourself so much about the invention marketing process…you won’t need to go anywhere else.
IdeaBuyer member,
Michael McCullough
August 19th, 2008 at 10:12 am
I am in search for manufacturers who would be interested in out licensing or buying my patented idea. Your assistance is much appreciated.
September 20th, 2008 at 8:22 pm
I have invented a painters tool wich I’m trying to sell. I also have a prototype of it .Please inform me of the cost for your service till I reach a buyer and sell my idea as you don’t mention any fees for your service Thank you
December 14th, 2008 at 5:21 am
Hi, I have a provisional on an easy-to-implement patent. Is it enough for setting up a meeting with a major company (in my case mobile phone company)? I want to sell it and ready to do so with a condition that the provisional will become a patent.
December 17th, 2008 at 5:58 pm
I want to sell my patent. Where do I go from here.
April 15th, 2009 at 1:03 pm
I have created some articles and foresee widespread distribution. Am an independent with license.
May 1st, 2009 at 10:34 pm
… I DEVELOPED A DEVICE THAT CAN SAFELY TERMINATE ALL LOCATIONS OF WASPS N HORNETS WITHOUT RISKING GETTING STUNG… IT CAN ALSO INCREASE THE SALES OF AIROSOL INSECTICIDE PRODUCTS THAT ARE CONSUMED BY ITS OPERATION… I HAVE MADE SEVERAL WORKING PROTOTYPES OF MY DEVICE THAT I CALLED.. A LASER TARGETED REMOTE CONTROLLED BEES NEST DESTROYER… HERE IS MY WEB SITE THAT I DEDICATED FOR THIS MUCH NEEDED TOOL…. http://www.myspace.com/hornetshive
May 18th, 2009 at 3:12 am
Hello. I am a inventor and I want selling my invention patent. my invention is about new security systems. do your organization help to me?please guide me.
have a nice day
June 21st, 2009 at 2:05 am
Can one sell a PPA?
July 13th, 2009 at 12:59 pm
Hi Jervis,
Yes – one can sell a provisional patent application. However, you should have proof of concept prior to approaching a company. Do you have a prototype?
July 13th, 2009 at 1:05 pm
Hi David,
The inventors club of Kansas City is currently holding submissions to pitch to Faultless which owns Garden Weasel and a wide array of other companies. My suggestion would be to submit your invention to them and begin researching other companies in the same industry as your product. Perhaps this would be a good addition to any wasp spray out there. I would then get to work on preparing professional materials to present to these companies. If you have additional questions, feel free to email us at info@ideabuyer.com.
August 18th, 2009 at 12:46 am
I HAVE A INVENTION THAT WILL SAVE LIVES AND FROM DRUNK DRIVERS DO ANYONE HAVE ANY LEADS WHO I CAN SELL THIS IDEA TO?
September 22nd, 2009 at 10:21 pm
THIS IS A CHIP THAT WOULD BE INSTALLED TO TRACK PEOPLE WITH MEMORY LOSS.TEENS THAT ARE PAST THEIR CURFUE.OR EVEN IF SOMEONE YOU KNOW AND IS LOST YOU COULD PULL THE SIGNAL UP ON YOUR COMPUTER AND EITHER FIND OR DIRECT PEOPLE.THIS COULD AND WILL WORK.
September 24th, 2009 at 4:10 am
Hi, I have a number of ideas that I have provisionals and pcts on and I am seeking serious investors to run through some of the ideas with, my goal is to license some of the ideas. The inventions that I am working on at the moment are in the fields of the wheelie bin industry, mobile phones and goods transported in trucks. Any genuine feedback is apppreciated from both myself and business partner.
Please send feedbacks to the above email address…..
Thank you.
September 25th, 2009 at 3:29 pm
Dear executive contact:
This company is a new recycling company which is in process of producing a recycling bottle to collect residential waste oil. The goal of the company is to coordinate the distribution of the collection bottle to residences within the country, collect the waste and then distribute to biodiesel recycling plants for energy production. This company, however, is in need of relationships with companies such as yours in order to accomplish the company objectives. My name is Eddie Oquendo and I am the owner and founder. I am interested in scheduling a meeting with one of your representatives in order to discuss my business further and to explore possible business relationships with you in greater detail.
Please feel free to contact me at eovirella@yahoo.com or visit my website
October 28th, 2009 at 12:38 pm
I have a provisional patent that I would like to sell or license with a manufacture. Please help me
October 28th, 2009 at 9:51 pm
patent link sent
November 2nd, 2009 at 11:19 pm
I am looking for financial help in patenting or a buyout of an idea I have. The product is a small hand tool used in the automotive,marine & anywhere else spade fuses are used. I have a working prototype, that cost $3.45 to make and should retail for no less than $5.95. I am sure it could be mass produced for about $2.00 each. contact Scott at (352) 233-8276
December 30th, 2009 at 3:27 pm
Thank you so much for all of your help selling my patent!!!! I didn’t expect to be treated so well after all of the obstacles I had run into prior to meeting Eric. Thank you for working with me!!! I will be sending you copies of my royalty checks!!!
January 14th, 2010 at 7:06 pm
I own a patent that controls the growth of vines with tendrils ie ivy. I am interested in
licensing or selling it
February 19th, 2010 at 3:27 pm
I have a patent I would like to sell, license, or bring to market but dont know where to turn. I would appreciate any help you could provide.
March 22nd, 2010 at 3:48 pm
I have a recently-patented invention that I would like to sell. Do you know any reputable companies that buy adaptive equipment for grooming. Your advice will be greatly appreciated. Thank you!!!
April 2nd, 2010 at 10:49 pm
Great article on how to sell your patent. Thanks again for all of your help!
May 10th, 2010 at 1:51 am
Hello dear sir
I am Sajad Khaleghi from Iran . I have a plan of the new car engine that can work well with the fuel that I recommended it to you. I have many plan of the new invents that all of them is very important and help people very much to access to their wish.
Now I want to sell this plan of the new car engine to find some money to make my other plan. If it is possible for you help me to find good place that I can sell that well. If any body help me to make that I accept and if he want to buy my plan for himself I haveto accept but I need good recommended with money to sell that. If you want to help me to make that I think I don’t need many money. You only make the tools of that and send them to me then I combine that and make it.
I talk about the plan only by Dr. Niknejad and he tell me the engine is good but I think more about the fuel to complete that correctly.
If it make in the world all the car try to use that because:
1- it is very good for the environment and the air.
2- the fuel of it is accessible and we can make it for the future and now.
3- in the final part of this plan I can make that like, it work with very low fuel
4- it can work for the all kind of vehicle but need some change in the engine
5- it don’t need air to burn and make energy
6- the fuel can clean the earth
7- it don’t need the fuel place
8- the danger of it is very lower than another fuel
9- the fuel of it is accessible in all the world
10- the amount of fuel is vey low and people can use it easily
11- we can increase the engine and make that for the race car
12- the work of it is easily and all people can understand it
These are the detail of the fuel of my plan but if I explain about the engine you may make it your self and don’t buy it from me. So please understand me. I can not tell about that very much but I can only tell you it is the combine of the some kind of the engine and it can work sure. Because all of the detail of that , now is using in the world and all the people maybe see that but I cant tell any more.
Please tell me the price that you can buy my plan. If your price you recommended was very good I give you 50% of it and tell you more detail of it. And if your recommended was not enough I tell to the another place to buy that. You can give my plan and make that but if you registered it with my name and your name I can give you the 50% discount. I am not a trade man but I need that money to make my other plan.
If you have place that give people money to make their plan please tell me. I can work with my brain very well for them. I think I can solve all the problem of the plan with my brain. If you don’t give me good price I can sell that to the other power train or sell that to the BMW-TOYOTA- MITSUBISHI-HYUNDAY – and may ect.
My email add: mskhali2009@yahoo.com
Truly yours
sajad
May 15th, 2010 at 12:31 am
I have a patent for sale lot of work gone in to it even the u.s.a. are intrested i also have a trademark on it and a desigine right a lot of intrest has been shown in my product.alass to say i have no mony to pursue it henss the sale,.
Regards Rob Berrow,co/RIGGERBOX UK.
May 18th, 2010 at 2:59 pm
Hello,
I am an Inventor and Top Specialist in the field of Electronics .I currently hold 4 important patents in the field of Electronics more exactly in the subfields of: Sensors, Accelerometers, Electronic Palettes with signaling and testing device, Electronic Flow Measurement Devices, Speedometers, Earthquake Detection Systems, Anti-Robbery Auto and House Alarms, A Large Variety of Alarm Systems, Electronics for Military Applications, Industrial Automatizations, Industrial Robots, Electronic Toys, Telecommunication Equipments and others, other 10 patents being registered at the Romanian Patent Office for approval.
All products can be produced easily at industrial scale.
Some of my patents can be seen at:
http://www.research-tehnologies.ro
I am very interested to work for a company for a job or in order to re-patent, license my patents abroad, create new patents, manufacture the patented products
Thanking you very much for your kindness and help.
I am looking forward to an excellent collaboration .
Yours sincerely
Gheorghe Rachita
Manager
Research Tehnologies srl
Tel 0040724241491
Romania
Skype id
research49
May 25th, 2010 at 10:20 pm
I have a great idea for a new Tent. Will anyone help me out getting started? I have no clue of what to do or where to go.
May 28th, 2010 at 4:12 pm
Hi,
I just read some of the testimonials regarding your company. I am impressed.
Now, I am an individual with a new patented producted (patented 2-4-2010).
I don’t have the funds to pursue further than this. I have been communicating with a manufacturer out of state. But before going further with him, I want to learn more about Idea Buyer. I have decided that I want to sell my idea but not my patent. Is that possible? I’ll even sell the patent though, if the price is worth it. My invention is one that the world over will benefit; in homes, hospitals, motels, hotels, nursing homes, bed & breakfasts inns, convalescent homes, just to name a few.
I’d like to communicate via email, if that’s alright. I work so much that it’s even hard for me talk on the phone.
I hope my testimony about Idea Buyer will be as good as the ones I just read.
Looking forward to hearing from you soon.
Thank you.
July 12th, 2010 at 10:27 am
Great article. I have a ground-breaking new baby product thats parents will love and is sure to generate millions! THE BINKY BOTTLE!
PLEASE check out my commercial on youtube ‘The Binky Bottle’.
This is a great idea, I promise.
Provisional Patent is for sell
http://www.youtube.com/watch?v=EotlHJcHm8g
August 2nd, 2010 at 3:46 pm
I have a great product for the professional roofer. On the Market for two months
It has generated $20,000.00 in sales. Patent and all is for sale. Contact phone
319-447-0188
September 17th, 2010 at 11:46 am
I have a provisional patent that I would like to sell or license with a manufacture. This is a product that has a large demand with new mothers! It’s called “MEASURING MOMENTS” No more marking and leaving that door casing behind as your kids grow up. My clients are purchasing this for baby showers and holiday gifts. BUT I am not in a position to deal with large orders. As I am not interested in doing the manufacturing myself.
You can contact me at; 847 802-8348 http://www.mygrowthstick.com
February 21st, 2011 at 10:03 pm
Hello, I have a valuable shoe invention and I am interested in silent investors or working with a trustworthy manufacturer but don’t know which direction to take. Your advice or help would be greatly appreciated.
February 23rd, 2011 at 9:15 pm
please feel free to contact me at 516-984-4334
August 18th, 2011 at 4:52 pm
I am currently searching a company that would be interested in buying a new innovative patented idea. This idea is right up the alley of safety, and will create a lot of revenue. It has to do with safety glasses and hearing protection. Any interested parties please reply. Thanks for your time.
August 27th, 2011 at 9:41 am
Hello, I have a very good patent applied product , product line 3 , my product 1 is already in market – 20 units with prototype ready and have very good market in local, national and International . for my other product 2 and 3 the market is very good prototype under construction basically I am looking for License company to market and manufacture my product and fill the gap with according to market potential and demand.
September 13th, 2011 at 10:42 am
We are looking for licensing or selling design patent. We currently hold nine patents and would like to speak to you if interested.
September 16th, 2011 at 8:55 am
I have a patent to sell. can you help? Thank you.
Esther
October 6th, 2011 at 12:53 pm
I’m looking for invention licensing agent to licensee my patent product, can you help me in this matter. Please contact at my e-mail if you have interesting.
Thank you.
October 14th, 2011 at 1:15 pm
I have a patent already in my name, I just want a corporation to partner with to bring it to market. I actually have the prototype made and China is ready to produce them for me. It is going to be the next big thing as almost everybody will need one. It is a basic in life, and a derivative of what is already on the market. Each item could be sold from $140 to $200 with a high margin. For more info, email me!
October 24th, 2011 at 7:05 pm
I have 5 ideas that I want to sell, what should I do?
November 4th, 2011 at 11:44 am
Hi all i have a unique technologoy patent and i am looking for patent buyer
November 14th, 2011 at 11:38 pm
I Have a Patent Pending , Go Green, by recycling plastic bottles as the container that I use for my Invention. Very Clever Idea. None out there anywere. First ever. I need help getting them to market. can be used in kitchen, bathroom, garage, babys room, car, matching your theme or holiday depiction. hang at a preferred height or carry along leaving your hands free to do the work. would like to license my patent. any help or ideas?
November 23rd, 2011 at 12:27 am
I have a invention. Photobioreactor, which is an area of 1001m2 and produces more than 3000kg. algae per day. This is more than 8-10 times more than the best in the world.
January 6th, 2012 at 10:05 pm
I have a provisional patent for my idea, anybody interested?
January 9th, 2012 at 12:38 pm
Hi, I want to sell my patent of an compartemental coolerbox. Compartments are seeled with an iceplate.
We already have a patent number. Coolerbox has two appartments one keeps everything frozen for a long period while the ready to use products are kept in the top appartment. It can be made of plastic or stainlessteel. It also is isolated with 20 mm of polistereen or any product that will keep it isolated.
Thanks
Phillip
March 8th, 2012 at 10:20 pm
Hello,
Can you sell your patent and also receive royalties for the product?
Thanks,
Janice
March 10th, 2012 at 2:55 pm
I have a patent which will change the career of bone surgery i mad protection for my patent in USA I want to arrange meeting with any orthopedic companies.