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License my patents
Patent licensing refers to the act of assigning ownership of a patent to a third party in such a way that he / she can make, use and sell his / her invention either exclusively or not exclusively for the amount of predetermined royalties. In other words, patent licensing is a mutual agreement between an individual or companies or a company you choose to create, use and market your product. Since you are the patentee, your property is retained in the invention and you receive royalties on the product. What's the best way to license your patent?
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Replies to This Discussion
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Permalink Reply by gurustar on
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When licensing a product, I advise you to conduct research on the licensee and contact the inventors' organizations. This is a safety practice that you must take because if by any chance your relationship with the licensee deteriorates, you can take the next necessary steps with their help.
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Permalink Reply by Molodka on
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Do you have capital for investment or licensing would be the best option? When you sell a patent to a large company, you may receive a large financial reward for your invention, but you will lose any future rights to it. Hence, patent licensing can be an alternative to selling a patent.
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Permalink Reply by Gaster on
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Licensing is the most convenient and easiest way to turn your product idea into reality without investing any resources while providing lifetime royalties. A huge investment is required to launch a product. Even creating a name in the market for a product takes years.
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When you go through an established source — that is, by licensing your patent to a reputable company — your product will be on the market in a faster and shorter period of time. Provides you with a competitive edge.
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Launching a product to market through an established source will help you gain a competitive edge. If your device is one of the largest distributors then your product will capture a larger market and build a name that will ultimately benefit you. This will not only bring in a lot of royalties, but it will also make your name visible in the leading inventors. When we talk about capturing foreign markets, it should be noted that it is not easy for a person to get into a large market alone. In this case, licensing license my patents would be a great option as they establish links with firms that will help your product reach a broader horizon. The benefits are numerous and this is an exhaustive list so I would stop listing more. But I believe you have enough reason to license your patent.
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