Patents are NOT sold. They are bought!
Hi, there:
This week I told a potential client: “Paco, Patents Are Not For Sale. They are bought”
He looked at me with a strange face and... shot!
Since I am not sure that Paco understood me, like every Sunday, I hope he reads this message
Friend, the truth is that I brought the phrase from the private investment sector, I think I had already told you that we come from there.
Over the last decade, we invested in more than 30 innovative companies.
The objective was clear, to make money when the companies were sold at a value much higher than our entry.
You can already imagine it!
Life or death depended on whether or not each invested company was sold.
In that “game” I learned that putting a company up for sale was economic suicide in most cases.
The key was to be bought, it seems the same, but there are several hundred thousand euros of difference.
Through hard work, we learned that companies did not sell themselves, but that they had to do all their homework excellently, to attract attention and be bought.
If you want to sell your old car, it probably doesn't occur to you to ask for more than €2000, but if it's someone who falls in love...
It seems like a tongue twister, but it is as true as a house.
Surprise! We forget this very basic principle in the world of inventors.
But friend, do you really think that for 5000 € someone is going to register your great idea and also sell that patent.
Oh my God!
The truth is that the path is as long as the one we had to learn for 10 years.
For the sale of your patent to be a real option, you cannot leave any obligations unfinished:
Step 0: Dream about your potential buyers. Don't even think about bothering them until step 7.
Step 1: Prove that your invention works, even before patenting it, avoid paying for wet paper.
Step 3: Remember that patents, once filed, are not modified. Therefore, trust your instinct and ingenuity, but do not underestimate what a specialized team can contribute to your solution. This way, you will not only register an invention, but you will protect the best version of it. This is what we do at Let's Prototype.
Step 4: Study the background of your invention, detect market trends and evaluate the strategy of potential buyers who coexist and are successful in the market.
Step 5: Select the best strategy to protect your invention. The Utility Model is a great formula, but it is not always the best. Lean on professionals and protect your invention. If you did it before... It could be a mistake!
Step 6: Invest time and money in studying the transition from prototype to final industrializable product.
Step 7: Develop a plan based on business arguments that fit your potential buyers.
Start the actions so that they “happen to see your invention” and start negotiations. Preferably, accompanied by professionals with proven experience in this type of business.
Dear friend, I remind you that at Let's Prototype we only accompany those clients with whom we have worked throughout the entire process in commercial and patent sales processes. If not, we prefer to stay out of it 😉
Remember... With these tips, I don't intend to sell you anything.
I am only fulfilling my commitment to support our community of inventors. Of which you are part.
Warm regards
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Business Director - Inventors' Advisor at Let´s Prototype
Erick Remedios has been linked to entrepreneurship and the launch of innovative projects and inventions for over a decade. His start in the entrepreneurship sector began as the Project Management Director at the network of Private Investors, Business In Fact, S.A., a club of private investors specialized in high-risk investments, which he ended up managing as General Director for at least 5 years.
As the director of the Private Investors network specialized in innovative projects in the startup phase, Erick Remedios participated in more than 40 investment operations, with his main functions being: advising entrepreneurs and inventors, as well as private investors interested in investing in such projects.
Erick Remedios has been one of the influential figures in the development of the ecosystem of entrepreneurs and private investors in Spain. Since 2012, he has participated in numerous private investment forums, has advised entrepreneurial projects as a member of their Boards of Directors, and has served as a lecturer in numerous Public and private Universities, specialized public centers in entrepreneurship, and internationally leading business schools, such as It Aérea Business School, where he leads the management of the Business Model Design Module for entrepreneurs, mostly Aerospace Engineering graduates.
Specialized Centers in Entrepreneurship and the Launch of Innovative Projects where Erick Remedios has participated:
- Direction of the Program - Sanse Emprende from the City Council of San Sebastián de los Reyes, Madrid.
- Direction of the Espoban Program – Diputación de Córdoba and European Center for Business Innovation. Training of entrepreneurs and inventors and preparing them to attract capital through private investors.
- Speaker on the subject of launching innovative projects at Universities such as: Pablo Olavide, University of Seville, University of Málaga, University of Cádiz, University of Huelva, University of Almería, University of Jaen, University of Granada.
- Direction of the Entrepreneurship Module – IT Aérea Business School.
- ENyD Business School: Professor and lecturer in the area of Entrepreneurship and Private Investment.
- Avanza Castellón - Mentor of entrepreneurs and inventors in the program of the Diputación de Castellón.
- Ávila Emprende – Program of the City Council of Ávila. Mentor of entrepreneurs in sales processes and product development.
- Aula UGR- Professor of entrepreneurship and management of launching innovative projects in programs aimed at training teachers from the University of Granada.
- Master Up - Professor of entrepreneurship and investment management in the Official Master's for entrepreneurs from the University of Cadiz.
At the same time, numerous companies have signed Erick Remedios as an advisor and member of their Board of Directors, companies in which Mr. Remedios has also acted as the representative of the private investors who have placed their trust and economic resources, including:
- Tu Fabrica de Eventos
- Baby Radio
- Graffos
- Neurobia Research
- HitsBook
- Bit Credit
- Glelemo
Currently, Mr. Remedios is leading the international expansion of Let´s Prototype in the United States, while also advising inventors on startup processes for projects related to innovative Hardware or Software elements, both in terms of product design, a specialty of Let´s Prototype, and in terms of designing strategies for selling inventions and patents.
Interviews with Mr. Remedios and publications authored by him in Media:
- School of Business and Management: [Link](https://www.youtube.com/watch?v=ch3nRTFvxhw)
- Diputación de Córdoba. Training for Investors: [Link](https://www.youtube.com/watch?v=Cj2fvxkD-zI)
- Spanish Television - Program Emprende: [Link](https://www.youtube.com/watch?v=vZRi98CE20M)
- TV2 - Spanish Television: [Link](https://www.youtube.com/watch?v=ms22bxyllKc)
- University of Cadiz: Article for Inventors: [Link](https://emprendedores.uca.es/lean-prototyping-el-puente-entre-el-concepto-el-prototipo-y-las-patentes/)
- University of Granada: Article for Inventors: [Link](https://ugremprendedora.ugr.es/6-tips-para-convertir-tu-idea-o-concepto-en-prototipo-lean-prototyping/)
Latest posts by Erick Remedios (see all)
- Ventajas competitivas de los produtos innovadores - November 15, 2024
- Tipos de negocios rentables para emprender en USA - October 1, 2024
- Best 3D printing firms - August 28, 2024
