A patent is an intellectual property tool made to help the owner protect their invention from being made, used, or sold by others. Depending on the invention it is protecting, patents can be very valuable because of the exclusive financial benefit the invention provides to the owner. Patent holders who find themselves in control of a sought-after patent may wonder: can you sell a patent?
Can You Sell a Patent?
The short answer is yes. If you hold a patent for an idea others find valuable, you can sell the patent rights to somebody else. However, ideally you would opt not to sell a patent, rather you would license the patent or IP to another party for commercial use. Selling or licensing a patent can be beneficial to inventors looking to move their focus to a new project or invention. There are a number of other options for commercializing, or making money off of, your patent. These include selling a patent to an investor or using a broker to sell it.
Although the sale of a patent can be lucrative for the original inventor, the opportunity cost of what the patented invention could become should be taken into account. Patents can become extremely valuable and can make companies tons of money, so they should not be sold at a discount.
Why Would You Sell a Patent?
There can be many reasons an inventor may wish to license or sell a patent. One major reason is that inventors are good at inventing, but do not want to take the next step of developing a business out of their invention. The option of licensing or selling a patent is good for people like this, as they can still profit from their inventiveness but do not have to take the risk of putting up capital to create a full scale business out of the IP.
What Are the Downsides?
The main downside is you may be limiting the amount of money you can make. When patented inventions are turned into businesses, they have the potential to make the patent owner far more than if they had sold the patent. When you consider famous patented inventions such as the iPhone, which has made Apple billions of dollars, it’s easy to understand why it’d be hard to give away your invention.
This is why while it may be possible to sell a patent, if you are nervous about not getting enough money for it, the much better option is licensing. A license allows you to maintain the rights as an IP owner but also allows another entity to use the patented invention and pay you a royalty for doing so.
Further Reading
IP 101: The Fundamentals of IP Licensing
FORBES: How Billionaire Inventor Dr. Gary Michelson Negotiates Licensing Deals
Disclaimer: Nothing in this article shall be construed as legal advice.
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The Michelson Institute for Intellectual Property, an initiative of the Michelson 20MM Foundation, provides access to empowering IP education for budding inventors and entrepreneurs. Michelson 20MM was founded thanks to the generous support of renowned spinal surgeon Dr. Gary K. Michelson and Alya Michelson. To learn more, visit 20mm.org.
Please review the following overview of my company Gravity Therapy LLC to see if there is a fit within your company or a recommendation you may have.
Let’s go where no one else has tread and create a market where none exists with the NASA proven centrifuge that takes Gravity Therapy from space to earth.
Gravity Therapy is a rehabilitation start up company dedicated to bringing safe, low cost therapy to persons of limited movement. This new unique product provides a passive state of the art NASA proven centrifuge system that speeds up healing and reduces recovery costs for all types of illness, surgery, disabled, inactive, aging and immobile persons, especially those with complications that limit or prevent moving or walking.
The centrifuge has one or more rotating arms that serve as beds the patients lay on. The rotating motions of these arms increases normal gravity of one G up to 5 G’s above normal depending upon the rotating speed. This increased gravity therapy stimulates all the bodies 75 trillion cells simultaneously producing healing to the entire body. The centrifuge is driven using Skate Board Technology which has reduced the cost of the NASA centrifuges from millions of dollars to a few thousand dollars making it affordable for rehabilitation of all types of health related problems on earth.
What’s interesting is that many types of injuries or surgery require that no weight or pressure can be applied to these injuries for days and even weeks which limits movement and exercise that extends healing time and costs.
See the following link about staying-mobile in the hospital.
https://www.nextavenue.org/staying-mobile-in-hospital/
The PASSIVE ACTION provided by the gravity therapy centrifuge provides the needed components for faster healing and reduced costs.
Astronauts experience zero gravity in space similar to inactive persons on earth. This causes major health problems to their entire body with bone and muscle loss showing up first. The centrifuge benefits include: Restoring bone and muscle loss, strength training, increases cardiovascular activity, improves blood pressure, balance and coordination, spinal decompression, peripheral neuropath and peripheral arterial disease, functional neurology, lymph drainage, etc.
Please review the below web site that will provide a review and understanding of our NASA proven centrifuge system and all its potential benefits. Web site: https://www.gravitytherapy.org
The potential use of the Gravity Therapy Centrifuge is unlimited with its affordable quality and passive low impact that provides an ideal workout for all ages and ability levels.
The following are examples of use locations: Clinic and hospital therapy centers, sports medicine, gyms, fitness industry, wellness and care centers, chiropractors, homes, etc.
Dr. Vernikos and I have taken this Gravity Therapy Centrifuge Rehabilitation system to the state of proven benefits, prototype and IP of Patenting and Trade Mark. The next level will require the knowledge, skills and finances of a major company such as yours.
We are open to most strategic alliances or mutually beneficial agreements that include licensing or selling. Although this product is market ready for many health rehabilitation needs, further research will demonstrate additional benefits provided with Gravity Therapy. Also the addition of monitoring wearables will provide clinical evaluations, analysis and predictions that will further enhance the benefits of the centrifuge system.
I look forward to hearing from you and your interest in our entrepreneurial journey. Please contact me for further information.
Regards,
715-309-2625 Vern Ader
Email: [email protected]
I have a patent project for an advanced flying vehicle.
Negotiate a license or sell the project See more details.
https://drive.google.com/file/d/1iHSyj2GyPn8mvOVeWDMzauYgmy0VGzOV/view?usp=drive_web
Hi Ben, we would suggest first determining whether this is patentable and/or licensable. Check out the below:
https://michelsonip.com/what-is-freedom-to-operate/
https://www.uspto.gov/sites/default/files/documents/May%20Info%20Chat%20slides%20%28003%29.pdf
https://michelsonip.com/fundamentals-of-ip-license/