How to Sell Your Patent
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Do you want to hear about how to make money selling patents? Here is your complete guide! (More FREE resources below...)⏬
Registered USPTO patent attorney, J.D. Houvener from Bold Patents Law Firm, share's how to sell your patent!
Below we have provided resources and timestamps with brief explanations for each step of how to sell your patent.
Quickly find what you are looking for by clicking on the timestamps below.
Timestamps for important areas of this video are located below along with a detailed blog article that I wrote that goes into this topic even more in-depth.
➡️ 0:34 STEP 1: Identification of the Parties
✔️ When you are looking to negotiate a sale of a patent you have to know who you're dealing with.
✔️ A company has many moving parts, and you are going to want to know who has the right to make, use, sell, or import the invention.
✔️ It's important to consider the party's intentions. Your contract has to clarify who is giving up what.
➡️ 1:55 What rights do you have once you acquire the patent?
✔️ In the contract, you want to specify "Look at exhibit A" with the Patent Publication Number
✔️ Each party needs to inspect and confirm the scopes of the claims that you specified in your agreement.
✔️ The following are the scopes of the claims: patent publication number, serial numbers, and dates that are associated with the conveyance
✔️ The actual rights are not going to be listed in the contract at all.
➡️ 2:55 STEP 2: Purchase
✔️ Prior or existing licenses might exist from Party A [seller]. That needs to be checked and cleared with Party B [buyer].
✔️ If party B is going to be a non-exclusive licensee that needs to be cleared upfront. That means they are not going to be the only one that gets to make use or sell the invention.
➡️ 4:14 STEP 3: Price
✔️ Patents can be sold in terms of a lump sum, (received upfront) and received over time.
✔️ Contingency payments are when you receive money via royalty if and when a product is sold.
✔️ If it's about the revenue you have to be more specific; I.e. gross revenue, or net revenue.
✔️ Gross revenue is easy to calculate, net is more specific.
➡️ 5:29 STEP 4: Recordation at USPTO
✔️ Recording the assignment helps to publish the information that that any other competitor that may need to look at this later in litigation can have the record preserved.
✔️ It's also useful for making sure that deals get done and its a clear and transparent transaction.
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LEGAL-ISH DISCLAIMER
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Sorry, occupational hazard: This is not legal advice, nor can I give you legal advice. I AM NOT YOUR LAWYER. Sorry! Everything here is for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem. Nothing here should be construed to form an attorney-client relationship. All non-licensed clips used for fair use commentary, criticism, and educational purposes. See Hosseinzadeh v. Klein, 276 F.Supp.3d 34 (S.D.N.Y. 2017); Equals Three, LLC v. Jukin Media, Inc., 139 F. Supp. 3d 1094 (C.D. Cal. 2015).
@curtisfarrington2892 9 ай бұрын
Thank you J.D for all the great information you shared.
@boldpatents 8 ай бұрын
Glad it was helpful!
@olihileneo8602 3 жыл бұрын
Thanks sir.
@gee3883 2 ай бұрын
Do you have any examples of products you have licensed? thanks
@Kdlrboi 10 ай бұрын
Dear sir, The physics laws say that free energy machine is not practical. If it is practical then its breaked the law of physics.What if the free energy concept became invented then patented. What will be the approximate market price or value of that patent
@boldpatents 10 ай бұрын
If you've developed a perpetual motion machine that defies modern physics, it would be nearly priceless.
@stevelawrence5268 Жыл бұрын
Would't a buy out option contract or package be a healthy approach in the event if the invitee ( meaning the said inventor) is not considered a viable commercial entity within industrial quarters ?
@boldpatents Жыл бұрын
I'm not sure I totally follow you here. Do you mean if the inventor's business doesn't seem viable (market not ready, not profitable, or otherwise fails), would selling the patent portfolio or contracting for sale/license of a period of time be a good alternative? Yes, but its going to be very case specific, and the only thing I'd caution is that it can often times patents are 5+ years ahead of their time, and sometimes patience can bring huge value in the right markets.
@stevelawrence5268 Жыл бұрын
My mistake , apologies accepted, but upfront and personal i have an unlicensed product with unlimited market potential and probably an industry game changer but i am in no way connected to the current industry or markets nor any chain or branch of the current manufacturing sectors which already exist other than the fact that i'am a consumer of the existing product line but i would prefer to sell this innovation as it is beyond me and from all intents and purposes this innovation is really a worldwide product..
@DJ-ij6lh 4 жыл бұрын
Exactly what I was looking for. Close to filing a provisional patent on a product for the fishing industry. I have been thorough on every step to this point. At what point would I need an attorney to assist me? I am a first time and it can be a lot to take in.
@boldpatents 3 жыл бұрын
Good for you! It would be wise to engage with a Patent Attorney to review your patent claims, potentially provide a validity opinion, and make an introduction to a patent broker/licensing agent. Shoot me an email: jd@boldip.com
@martinasomorjai9976 2 жыл бұрын
Anybody can advise me a website where I can find INDIVIDUALS who wanna buy a patent? Thanks in advance
@dangermusic_ 3 жыл бұрын
Are you aware of any platform bringing together prospective buys and sellers? Thank you.
@boldpatents 3 жыл бұрын
Thanks for the comment! you may check out this link that may help you with what you're looking for: boldip.com/blog/marketplaces-buy-sell-patents/ boldip.com/blog/patent-brokers/
@Envirodiamond 3 жыл бұрын
That was a great video - thanks for the well-crafted delivery. I have patented a novel explosive from dry ice (frozen CO2) and powdered metals in many countries, including China. Since the Chinese government strictly oversees all their explosives activities, I expect they could be a potential party to approach to sell rights to use the invention exclusively in China. However, can a foreign government use my patent without permission because the invention falls under the sensitive jurisdiction of explosives? In my case, a private company in China could not use my explosive illegally because they would have to be overseen by the government, which granted the patent. Regardless, what approach do you recommend when attempting to pitch selling the patent to the right part of the Chinese government?
@boldpatents 3 жыл бұрын
Thanks for the question! Just a reminder, please do not share confidential information in this public forum. That said, with respect to your question - I do not know Chinese Patent Law, note that each country has its own set of laws on the books. I can speak for US patent law only, in that YES, the US government does review (through the Department of Defense) patent applications and screens them for any potential risks to national security (including explosives, munitions, and even cybersecurity) and will place a "Secrecy Order" on those applications. You can read through the process by digging into the MPEP section 120 linked here: www.uspto.gov/web/offices/pac/mpep/s120.html
@Envirodiamond 3 жыл бұрын
@@boldpatents Thank you for the reply and reminder about public disclosures - nothing confidential here. In my case the patents have been granted, so there was no Secrecy Order. Since the patent has been granted in the US, are you saying that the US government cannot use my technology without an agreement with me?
@boldpatents 3 жыл бұрын
@@Envirodiamond Correct. If the patent was granted, that means the US government has (assumedly) already done their review, and not deemed it a threat to national security, so it is your personal rights to exclude any/all private and public bodies. There may be some caveat for eminent domain, but I've never heard of that level of authority being used.
@Envirodiamond 3 жыл бұрын
@@boldpatents Interesting. OK, so what about the scenario where the review was not performed thoroughly and a high risk technology slips through the cracks? My patent discloses an explosive formulation in the body of the document, however, the claims teach a method to make diamond from carbon dioxide, which in retrospect may have been distracting and didn't raise any flags if a cursory review was based solely on the claims. If you go to my website at the bottom of the main page, you can see for yourself what a 3" diameter tube of dry ice mixture is capable of doing when it detonates. Regardless, it appears I have successfully protected the IP if the government cannot exercise a level of authority that prevents me from commercializing the technology now that the patent has been granted. Thanks.
@boldpatents 3 жыл бұрын
@@Envirodiamond I'm going to have to say we should follow up with a legal consult at this point :) email me at jd@boldip.com.
@TheHalusis Жыл бұрын
could your patent be revoked after licensing your patent to a large company when you filed under a micro-entity Or small entity in your patent app?
@boldpatents Жыл бұрын
Whether you filed as a micro or small entity to apply for the patent, has no bearing on post-grant rights. That said, once a patent is issued, you must pay maintenance fees to keep it enforceable/active, usually the licensee will be on the hook to pay some/all of these fees, especially if the license agreement is exclusive in nature. Finally, is always possible that a patent court (either federal or PTAB) could invalidate the patent in whole or part. Email me if you have any questions: jd@boldip.com.
@TheHalusis Жыл бұрын
@@boldpatents ok cool
@abhranilgupta5851 Жыл бұрын
Do one have to make the invention, like a software product or maybe a plane which one has invented to sell the patent rights...
@boldpatents Жыл бұрын
No, scale models or demos will work to convey the message sufficiently.
@abhranilgupta5851 Жыл бұрын
@@boldpatents Thanks, and by that do you mean a system design simulation in computer will work as well...
@boldpatents Жыл бұрын
@@abhranilgupta5851 Well, I'd say working with a experienced broker that can put together a "sell sheet" or similar material in order to convince the buyer/licensee that it works and what it does is a great idea. Click this link, to speak with someone on our team: calendly.com/business-consultations/am06-youtube
@onurozdemir4674 3 жыл бұрын
İ am from Turkey and i applied smart wear patent same i applied smartwear company rights too but first Turkey state patent office will give me domestic patent i ask about can i sell my patents to foreign investors and how much can i sell when my patents (18 months) approve?i want to buy international patents but in Turkish lira currency when i change chf,eur,usd too much i want to sell without international patents who can buy it?if they buy i know they can apply to international patents
@boldpatents 3 жыл бұрын
Onur, schedule using this link to see if we can help: boldip.com/contact/
@shalanjadhav622 2 жыл бұрын
Hi.. How can i connect with you. As i m having a patent of Ayurvedic Medicine but don't know where to sell that for better use of it to the people.
@boldpatents 2 жыл бұрын
Shalan, first step is to schedule a free screening session, we need to validate that we are a good fit for you and you are a good fit for us. Here's the link: calendly.com/business-consultations/am06-weeklylive
@jayterthpattan6704 Жыл бұрын
@@boldpatents I want to buy patent no 339491 which is pure natural herbal drinking water patent for 2 core is it worthy to buy patent or only taking licence can i start business please guide me reply fast..
@boldpatents Жыл бұрын
@@jayterthpattan6704 Thanks for your question, and congratulations on your plan to purchase a patent. This is a specific question, and I think it deserves a specific answer in confidence. Please email me at: jd@boldip.com with details of the patent, and what your business plans are for making, selling, and distributing it.
@user-du7qw1wk1d Жыл бұрын
Hi I have one invention in the medical field and I want to sell it can you give me a guidance to sell it where؟
@boldpatents Жыл бұрын
I can help you think through sale of your patent. Shoot me an email with the patent number and a little more detail on how you've commercialized it thus far. email: jd@boldip.com.
@user-du7qw1wk1d Жыл бұрын
Excuse me. But do you have Gmail account?
@boldpatents Жыл бұрын
@@user-du7qw1wk1d This is the only work email I have
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