1. SELLING YOUR PATENT
By Eric Corl, Idea Buyer LLC – The Online Marketplace for Intellectual Property

2. SELLING YOUR PATENT STEP 1
BE PREPARED
Know Who Your Customers Are
Know the Competition
Know the Current Market Volume
Know Your Manufacturing Cost
Know Your Anticipated Retail
Know Your Anticipated Margins
Have Proper Presentation Materials
Know What Type of Agreement You Want

3. SELLING YOUR PATENT STEP 2
2. BE POLISHED
Have Research to Back Up Your Product
Have Testimonials That Your Product Works
Have a Website
Have Letters from Potential Customers
Create a Business Proposal
Show 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 EFFORTS
Know Who Makes Competitive Products
Know Specific Manufacturers in the Industry
Conduct Research on Each Company PRIOR to Contacting Them
Establish a Warm Contact into the Company if Possible
Resources: Thomas Register, Linked In, Idea Buyer

5. SELLING YOUR PATENT STEP 4
4. BE PREPARED TO NEGOTIATE
Are 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 PRESENTATION
Use Numbers to Make it Come Alive
Eliminate Hype
Deliver In Order
Avoid “Happy Talk”
Focus on What Matters
The Shorter, The Better
Answer Tough Questions
Consult Your Patent Attorney
Rehearse Beforehand
Close with a Call to Action

7. Sell Your Patent Resources
IdeaBuyer.com – The Online Marketplace for Intellectual Property
Full Article – 10 Tips for a Powerful Presentation
Linked In – Linked In dot com
Thomas Register – Thomas Register dot net
Good Luck!!
Eric Corl
President
Idea Buyer LLC