Selling Your Patent

A Simple Guide to Selling Your Patent, Selling a Patent, Sell a Patent

Selling Your 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.

63 Responses to “Selling Your Patent”

  1. Timothy Wilton Says:

    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.

  2. Elaine Morton Says:

    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

  3. Bela Says:

    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

  4. Dennis Ruttan Says:

    Hi, I have a patent I would like to sell, liscese, or bring to market. Can you help. Dennis

  5. Bill Bass Says:

    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

  6. Michael McCullough Says:

    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

  7. Mercedes Baltazar Says:

    I am in search for manufacturers who would be interested in out licensing or buying my patented idea. Your assistance is much appreciated.

  8. konstantinos Says:

    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

  9. Mike Says:

    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.

  10. bOB HATTON Says:

    I want to sell my patent. Where do I go from here.

  11. Paul Borrello Says:

    I have created some articles and foresee widespread distribution. Am an independent with license.

  12. poorya moradee Says:

    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

  13. Jervis Bowles Says:

    Can one sell a PPA?

  14. Product Scout Says:

    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?

  15. Product Scout Says:

    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.

  16. DERRICK RHAME Says:

    I HAVE A INVENTION THAT WILL SAVE LIVES AND FROM DRUNK DRIVERS DO ANYONE HAVE ANY LEADS WHO I CAN SELL THIS IDEA TO?

  17. David Says:

    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.

  18. Eddie Oquendo Says:

    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

  19. scott farnocchia Says:

    I have a provisional patent that I would like to sell or license with a manufacture. Please help me

  20. Bob Caradimos Says:

    Patent link sent.

  21. scott kasper Says:

    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

  22. Gene Says:

    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!!!

  23. foster deButts Says:

    I own a patent that controls the growth of vines with tendrils ie ivy. I am interested in
    licensing or selling it

  24. Katie Says:

    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.

  25. Lisa Says:

    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!!!

  26. Kevin Leima Says:

    Great article on how to sell your patent. Thanks again for all of your help!

  27. robberrow Says:

    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.

  28. george Says:

    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

  29. Michael Parrish Says:

    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.

  30. Willie Thornton Says:

    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.

  31. Len Jackson Says:

    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

  32. ken koppes Says:

    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

  33. William Veit Says:

    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

  34. PAT MCKENZIE Says:

    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.

  35. Mark Burcham Says:

    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.

  36. Deepak Solanki Says:

    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.

  37. Alex Shannon Says:

    We are looking for licensing or selling design patent. We currently hold nine patents and would like to speak to you if interested.

  38. esther lee Says:

    I have a patent to sell. can you help? Thank you.

    Esther

  39. Mikhail Says:

    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.

  40. Ana Says:

    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!

  41. Aviu Molina Says:

    I have 5 ideas that I want to sell, what should I do?

  42. Tahnoon Esmail Says:

    Hi all i have a unique technologoy patent and i am looking for patent buyer

  43. Linda Robin Says:

    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?

  44. Nikolai Says:

    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.

  45. Ivy Lemke Says:

    I have a provisional patent for my idea, anybody interested?

  46. Phillip VilJoen Says:

    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

  47. urfan Says:

    I have idea about braking systems, that can be very useful. I can give this idea for any car plant. Thanks.

  48. Janice Suggs Says:

    Hello,
    Can you sell your patent and also receive royalties for the product?

    Thanks,
    Janice

  49. huda Says:

    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.

  50. Jim Says:

    Greetings,

    I have an invention which I partnered with a larger company with. It is (according to the companies attorney), waiting for the issuance of the patent, (Having passed all the hurdles of the Patent office).

    The thing is, the company I partnered with want me to sign off of the patent giving them all rights to it and give me a royalty agreement. (The terms of this royalty agreement are not favorable to me at all!)

    This invention serves a critical need in the disability field. Of which the company I patented the device with and myself are experts in.

    I am looking for an investor/advisor to assist me with wading through this minefield.

    I can be contacted at…

  51. Dominick Says:

    Our invention is a support for a jackhammer, we have a prototype in function and we just won the workmen compensation contest in small business we are interested in selling our patent or licences if interested visit my website http://www.breakerhelper.com and also you can go see videos on youtube search for breaker helper or jackhammer support thanks

  52. John W Says:

    Hi Eric Corl. I have a very good patent for Toyota company that can make them billions with your help.

  53. Tony Du Plooy Says:

    I have a patent that will change the fileing indrustry and will save our envoriment and saves money and time,The product is Branded S.T.E.M Saving Time Envourment and Money. I have a patent number already. So if any Fileing companys are intrested please contact me.

  54. Rozer federor Says:

    I am trying to get patent for an anti -accident project in automobile industry.Which saves human lifes from accidents for that we require sponsor company’s for developing the project for that we are willing to get the Development only who are financially sound companies only can contact us.

  55. Vincent R Says:

    I have about 30 ideas that are not out and im about to move forward with the provisional patents. I will be doing one at a time for the moment, I have idea’s from real estate mobile apps to motorcycle, home items, more mobile apps, even near field communication. All my idea’s are pretty unique! I need the help in how to approach a company to sell or use my idea’s. If there is someone out there that can lead me to the right direction I would really appreciate the help!

    Thanks,
    V

  56. Arasal Says:

    Hi i have a good patent of an online business company for sale have any one interested on it.

  57. Colleen Short Says:

    I have a patented idea for designer crutches and I would like to sell it to a manufacturing company! I have submitted this idea to many companies and I have had a few turn downs but they like the idea but it didn’t it didn’t meet their criteria. I have not heard from a lot of the companies that I submitted to! I am frustrated and don’t know where to turn to, until I found this website. I really hope someone can help me! Hank you very much!

  58. Ал Says:

    Hello gentlemens!

    I offer you to buy the license for production the new mechanical device for bicycle. This invention has not analogue in the world, it`s possible to install on all bicycles models, which was made by your company. The Advantage of the invention is so not necessary to contribute the changes to design of the bicycle. The Pilot model is ready for production. There is patent for useful model of Russia and international priority right. This is an exclusive offer I do only to you and only now. Please take most seriously to my offer and not to linger with answer.
    Given mechanical device is intended for removing the load with knee joint and lower part of muscle of the leg in bent position that helps the bicyclist not to tire during rotation of the treadles of the bicycle. But signifies possible to rotate the treadles quicker that will bring about increase the velocities of the moving the bicycle. This invention possible to install on any model with one or several velocities Bicyclist presses on treadle only, when leg is found in straightened condition, but before this treadle moves itself under pressure of the spring. At the beginning initially video is in the same way seen as wheel begins rotationally move because of influence on it mechanical device with spring. Exactly this power, created by my invention, helps bicyclist quicker to gather momentum on bicycle and not to tire during rotation of the treadles.
    If you will output this mechanical device you will be leader of the World bicycle industry.

  59. gloriamccain@verizon.net Says:

    Hello I need some help on selling a medical Patent!! Please Help!!

  60. sharon Says:

    my question is …..can a patent be sold to two different companies? or can it only be sold by the patent holder once?

  61. juancito1982@live.com Says:

    I’m looking for a potential licensee, I’ve invented a new table style soccer game and filed a provisional patent application. There’s a company assisting me with bringing the idea to market but I think it will be more help if I’ll get involve in it, so I’m also seeking a licensee. If anyone can be of assistance or want to know more feel free to contact me.

  62. P. Shepard Says:

    I have a Revolutionary product for the outdoor/ hunting industry. I have a provisional patent filed and as an avid hunter when I field tested this product it blew me away so has everyone that has used this product. I have just hit a rut in taking this to market as I am just a simple guy from oklahoma any help would sure be appriciated.

    Thank you and god bless

  63. Product Scout Says:

    Hi Mr. Shepard,
    Go ahead and submit your invention on this page – http://www.ideabuyer.com/submit.php . If it’s something we’re interested in, we will reach out to you to discuss options on how we might be able to work together. If you have any questoins, feel free to email me at TomS@IdeaBuyer.com

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