Presentation on theme: "SELLING YOUR PATENT By Eric Corl, Idea Buyer LLC http://www.IdeaBuyer.com – The Online Marketplace for Intellectual Property."— Presentation transcript:
1 SELLING YOUR PATENTBy Eric Corl, Idea Buyer LLC – The Online Marketplace for Intellectual Property
2 SELLING 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
3 SELLING 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.
4 SELLING 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
5 SELLING 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.
6 SELLING 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
7 Sell 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