Patent monetization is a source of revenue for many corporations. As these companies grow, often their business objectives change with that growth, and older patents on various inventions or products that they deal with become outdated. So, they sell these patents to someone else for income, giving the new party the right to use the idea and profit from it. In fact, some inventors simply create one invention after another, get a patent on it, and then sell the patents one by one for a continuous stream of income. All of these methods are valid ways of creating revenue, but they won’t work if you make some common patent monetization mistakes. Hiring an experienced patent monetization lawyer to help you with your monetization plan can save you a lot of money in the long run and can help you learn a lot about the process as well.
Knowing the Worth of Your Patent
If you own a patent and you are interested in selling a license for it to another corporation who wants to use it, you should begin by understanding whether or not your patent is licensable, and also how much it is truly worth. Those who monetize patents often sell themselves short because they do not understand the current market for such a patent, or they do not choose the right targets who may be interested in acquiring the license. Investing in hiring a patent monetization lawyer can ensure that you get a clear picture of how valuable your patent probably is and how it will fit into today’s market. Understanding the laws that regulate patent licensing, royalties and similar issues is crucial for successful patent monetization.
Call to Schedule an Appointment With a California Patent Monetization Lawyer Today
If you are interested in selling a license to your patent, call to schedule a consultation with a California patent monetization lawyer today. The experienced legal experts at the Law Offices of Dorian Cartwright will evaluate your case for its merits and give you accurate guidance to help you get the most benefit from your patent. We serve the cities of San Jose, Palo Alto, Mountain View, Santa Clara, San Francisco and surrounding communities. Check out our web page at cartwrightesq.com or give us a call at 1-800-810-8030 and let us give you legal advice that works.