Can I sell my patent or enter into license agreements for it?
December 13, 2023 | 65,00 EUR | answered by Andreas Köhler
Dear patent attorney,
My name is Tatiana Engel and some time ago I applied for a patent. Now I am faced with the question of whether it is possible to sell my patent or enter into licensing agreements. I have invested a lot of time, money, and effort into developing my invention and now I want to achieve the best possible return on it.
Currently, I am in an uncertain situation as I am not sure how best to proceed. I am concerned that I may not be able to achieve the optimal price for my patent or that I may not be adequately protected against potential legal risks if I enter into a licensing agreement.
Therefore, I would be very grateful if you could provide me with advice on how to most profitably sell or license my patent. What steps do I need to take and what legal aspects should I consider? Are there any potential pitfalls that I should be aware of?
Thank you in advance for your support and guidance.
Best regards,
Tatiana Engel
Dear Mrs. Engel,
Thank you for your inquiry regarding the sale or licensing of your patent. It is understandable that after all the time, effort, and money invested, you now want to achieve the best possible return on your invention. I will be happy to provide you with some advice on how you can proceed most profitably.
First and foremost, it is important that you are clear about the value of your patent. You can have a patent valuation done, either by specialized companies or by an experienced patent attorney. This will give you an objective assessment of the economic value of your invention, which can help you in sales negotiations or setting licensing fees.
If you decide to sell your patent, you should approach potential buyers who may be interested in your technology. These could be companies in your industry, investors, or patent aggregators. It is important to enter into confidentiality agreements to ensure that your invention remains protected while you negotiate.
For entering into licensing agreements, it is advisable to seek legal advice to ensure that your interests are adequately represented. An experienced patent attorney can help you in drafting the contract and ensuring that all key points, such as licensing fees, duration, rights and obligations of the parties, are clearly and unambiguously defined.
There are some legal aspects to consider when selling or licensing your patent. These include examining possible conflicts with existing patents, ensuring compliance with licensing laws and regulations, and considering intellectual property and liability issues.
It is important that you educate yourself and seek professional advice if necessary to avoid potential pitfalls and protect your interests to the best of your ability. Therefore, I recommend that you consult with an experienced patent attorney who can support you in this process.
I hope this information is helpful to you and wish you success in selling or licensing your patent. If you have any further questions, please feel free to contact me.
Sincerely,
Andreas Köhler
Patent Attorney
