Each invention has value and value for the inventor. You can get the full reward for your invention when you start generating financial benefits. Furthermore, our intellectual property system is committed to recognizing and protecting the rights of the inventor. It is now up to the inventor to effectively use the exclusive patent rights in his favor.
The patent itself will give inventors the courage to disclose their inventions. In addition, a patent increases the value of a product or process for potential investors. However, obtaining a patent alone does not guarantee the success of a product or a commercial process in the market. Not all patented inventions or patented inventions hit the market. Inventor pressure is always necessary to increase demand for a patented invention. Let’s take a look at some methods and strategies to market your patent.
How to exchange patents
Sometimes a company may come across an invention that does not suit its business. In some cases, the inventive process alone would exhaust all of the organization’s resources. In such cases, the patent organization or owner strives for a quick return on investment in research and development of the invention. Therefore, the inventor may sell the patent property and transfer all patent rights to another party or organization (legal successor). The buyer pays the inventor a one-off compensation.
Companies can also sell their patent if they only focus on research and development and are not willing to risk commercialization. An inventor with insufficient contacts to manufacture or market a product will find that selling the patent is an attractive option.
Patent licensing is a more practical and collective approach to patent marketing. Different types of licenses are available. Therefore, the owner of a patent (i.e. a licensor) should carefully examine the licensing options, evaluate the profits for each type of license and then decide.
The patent holder can opt for an exclusive license and grant the manufacturing, use or sale rights of the patented product to a single organization. Exclusive licenses can be granted globally or within a geographic region.
A licensor can license multiple organizations through non-exclusive licenses. As a result, many licensees manufacture the same product. Strong competition between licensees can lower the product market rate. You can also reduce the entry of license costs to the licensor.
Make sure the patent license is in good hands.
The licensor must examine and select potential and competent licensees before granting the patent. This will ensure the successful commercialization of the patented product. It is always a good idea to set goals or objectives (eg sales figures) that the licensee must achieve within a certain period of time.
These performance bonds keep the licensee active and will soon launch the product on the market. The sooner a product reaches the market, the more it is ahead of the competition and generates more income for the licensor. In addition, the licensor may revoke the license if the licensee is unable to meet its performance obligations.
Check that the patent license is in good hands.
The licensor must study and select potential and capable licensees before granting the patent. This will ensure proper marketing of the patented product. It is always advisable to set goals or objectives (for example, sales figures) that the licensee must achieve within a certain period.
These performance titles will keep the licensee active and will soon bring the product to market. In fact, the sooner a product reaches the market, the more its competitors advance and generate more revenue for the licensor. In addition, the licensor may revoke the license if the licensee is unable to meet its performance obligations.
Set license fees
We have to analyze the value of the patent to calculate the royalty. The most common strategy for deciding the amount of compensation is comparison. First, the parties compare the patent with the oldest and most existing technologies. Both parties carefully review existing licenses and agreements and arrive with license fees. When the invention is very new and cannot be compared to existing technologies, companies take a different approach. The licensee calculates the estimated cost of manufacturing and marketing the product, then compares it to the risks.
Production and internal subcontracting
The owner of a patent can be described as owning and marketing his patented product in his own organization. It is different from being a successful success in that the invention is new and the success of success in the market is high. Part of the novelty of the invention offers a competitive advantage in the market. This is the time that the patent owner has to produce and commercialize the trust.
The inventor can only perform the production process for one company. That way, they can sell the product under their own brand, without the risk of negotiating on factory machines.
This is a process that the patent owner will behave directly in the manufacturing process. This means that patent holders give a feeling of satisfaction.
These are some of the same strategies that an organization or patent owner controls to market its patented product or technology. It is to buy a complete study and lose the strategy that is better to go to the invention to understand.