in this short video we'll run down ten
ways to license or sell a patent the
first tip is to target your efforts use
Thomas register net to find
manufacturers and suppliers relevant to
your patent you can also place ads for
your patent in places like Craigslist
com or trade journals in the field that
your patent belongs to another way to
get exposure for your patent is to list
it on patent listing websites one grade
site is idea buyer com where you can
list your patent and get professional
help to close the agreement if you
already have a manufacturer or a few
manufacturers in mind you can approach
them directly about setting up a meeting
the key is to get in touch with their
buyers or business development personnel
if your patent is complex or highly
desirable you might want to set up a
website explaining it additionally this
website would offer a way for interested
buyers or licensees to get a hold of you
and learn more information when you
license a patent the first decision
should be whether it will be an
exclusive or non-exclusive license
exclusive means that only the licensee
can exploit the patent and you cannot
license it out to anyone else the
alternative is to use a non-exclusive
license where you can license it out to
other people be warned however that most
licensees will prefer an exclusive
license you can write sales targets
profit margin expectations or just about
anything else that both parties agree
upon into the contract these are called
performance obligations if the other
party does not meet them you can revoke
the patent you can also write royalty
requirements into the license agreement
under which you must be paid a certain
amount in royalties and finally you want
to approach all buyers or licensees as a
product developer not just an inventor
it looks more professional to do it this
way so make sure that you do good luck