Patent Monetization

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What does Patent Monetization Mean?

Making money on your patents! Here at Bold, it is our intention to help you and your business be a force to be reckoned with in the market. We want your technology to make a positive change in the world by being economically viable and profitable for you and your business. Too many patents get granted, and their inventors just sit on the rights until the 20 years go by - and all the hard work goes unrewarded and the investment in the intellectual property goes without a return. While dust may settle on the physical copy of the printed patent certificate, we believe strongly that the patent rights should be exercised immediately upon grant!

How do you Monetize Patents?

There are 3 major ways to make money on patents and within each, different approaches. Our Patent Attorneys here at Bold are trained to keep a long-range vision on your business and financial goals right from the beginning. Therefore, our team structures our representation with a team of Patent and Business experts and a network of talented referral partners and Host Law firms. Below is a short list of ways in which you can make money from your patent rights:
1) Active Enforcement: This is the traditional method for inventors who start or have businesses that develop an invention and wish to have market dominance in that particular area for 20 years on their patented technology. By being the only player that can practice your invention, you can control price quite a bit, and margins and profitability is sure to be there. Now, just because you have the patent, doesn't mean you will automatically be the only player in the market making, using, or selling your invention. You've got to monitor the market to see who may be infringing on your aptent rights and actively enforcing your rights by putting those parties on notice, and taking measures to sue for infringement in order to protect your patent-protected niche.
2) Patent Licensing: For those inventors or businesses that wish to not be the one to make, use, or sell their invented product/system - a great option is to provide a license (or permission) to have at least one other individual or company make, use, or sell your invention. One of the more difficult things to do is find a licensor (the one who will pay for your invention) if you are inexperienced in your industry or area of invention. Having an advocate make those key introductions for you to pitch your technology to a potential licensor is what Bold can deliver on. Once you find a party that's willing to take a license on your technology, negotiating the actual license agreement is almost as tricky. Terms such as the scope of rights, royalty rates, performance clauses, conditions, and derivative works rights are just a few of the contentious points within a license agreement - our Bold Patent Licensing team will be prepared to help you with that.
3) Patent Selling: When a patent owner is looking to make a clean break and allow another party to completely own and manage the Patent rights, selling can be a clean way to do that. By selling (or assigning) the patent rights, there is still room to negotiate a license back to the original inventor. This license back allows the inventor to continue tinkering and coming up with new versions/iterations of the invention. A sales contract, much like a license agreement has many salient terms which may be negotiated, paramount is the asking price and the substantiation for patent valuation. Our Patent Monetization team has experience in substantiating valuations across most every technology area and can help you understand a realistic price to expect in a lump sum or payment over time.

When should I start thinking about monetization?

As soon as you have patent rights applied for. This means, as soon as your application is in the process, and you have "PATENT PENDING" status. Believe it or not, many transactions for licensing or sale actually happen while a patent application is still pending! While making a deal during pendency may not be the best idea for you (because typically prices and royalty rates are lower for pending apps), this is a perfect time to stop and think about your plans for moving your technology into the market. Many inventors/entrepreneurs go into the patent process with dreams of owning a business and perhaps they try to do so and realize they do not want to be business owners after all - so, plans change and it's very important to know your options at all stages of your patent journey. If your business is launching, it is easy to get distracted by the growing of your business and to forget about taking care of your patent, which is at the heart of what makes your company different and have the competitive edge. Therefore, starting to plan for how you're going to leverage your patent in the market early is what will make the difference down the road.

How do I get Started?

Meet with our Bold Patent Attorneys where we will do "Patent Monetization Strategy Session", which is a deep dive to re-assess your business goals, the Patent asset, the market and provide a recommended path forward that may include our representing you before companies or brokers. Schedule your Patent Monetization Strategy Session today by giving us a call at 800 - 849-1913.

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