Presentation on theme: "SELLING YOUR PATENT By Eric Corl, Idea Buyer LLC http://www.IdeaBuyer.com – The Online Marketplace for Intellectual Property."— Presentation transcript:
1SELLING YOUR PATENTBy Eric Corl, Idea Buyer LLC – The Online Marketplace for Intellectual Property
2SELLING YOUR PATENT STEP 1 BE PREPAREDKnow Who Your Customers AreKnow the CompetitionKnow the Current Market VolumeKnow Your Manufacturing CostKnow Your Anticipated RetailKnow Your Anticipated MarginsHave Proper Presentation MaterialsKnow What Type of Agreement You Want
3SELLING YOUR PATENT STEP 2 2. BE POLISHEDHave Research to Back Up Your ProductHave Testimonials That Your Product WorksHave a WebsiteHave Letters from Potential CustomersCreate a Business ProposalShow the Company How They Could Integrate the Product into Their Line Up.Sum it all up in materials you can leave behind.
4SELLING YOUR PATENT STEP 3 3. TARGET YOUR EFFORTSKnow Who Makes Competitive ProductsKnow Specific Manufacturers in the IndustryConduct Research on Each Company PRIOR to Contacting ThemEstablish a Warm Contact into the Company if PossibleResources: Thomas Register, Linked In, Idea Buyer
5SELLING YOUR PATENT STEP 4 4. BE PREPARED TO NEGOTIATEAre you open to a licensing agreement? If so, are you open to an exclusive agreement?Are you set on an outright sale?Know the difference between % of gross profit, net profit, gross revenue.Do not sign prior to reviewing any agreement with a lawyer. Any verbal should be noted as contingent upon attorney approval.Do not be greedy.
6SELLING YOUR PATENT STEP 5 5. DELIVER A POWERFUL PRESENTATIONUse Numbers to Make it Come AliveEliminate HypeDeliver In OrderAvoid “Happy Talk”Focus on What MattersThe Shorter, The BetterAnswer Tough QuestionsConsult Your Patent AttorneyRehearse BeforehandClose with a Call to Action
7Sell Your Patent Resources IdeaBuyer.com – The Online Marketplace for Intellectual PropertyFull Article – 10 Tips for a Powerful PresentationLinked In – Linked In dot comThomas Register – Thomas Register dot netGood Luck!!Eric CorlPresidentIdea Buyer LLC