{"id":5637,"date":"2022-08-08T09:00:20","date_gmt":"2022-08-08T09:00:20","guid":{"rendered":"https:\/\/letsprototype.com\/?p=5637"},"modified":"2025-05-20T23:42:23","modified_gmt":"2025-05-20T23:42:23","slug":"patents-not-are-sold-bought","status":"publish","type":"post","link":"https:\/\/letsprototype.com\/en\/blog\/2022\/08\/08\/patents-not-are-sold-bought\/","title":{"rendered":"Patents are NOT sold. They are bought!"},"content":{"rendered":"
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How to sell a patent. Patents are NOT sold. They are bought.<\/h1>\t\t\t\t<\/div>\n\t\t\t\t
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The goal of most inventors is to sell a patent. This is precisely the main difference between an inventor and an entrepreneur.<\/p>

Inventors want to sell the patent, while entrepreneurs focus on its long-term economic performance.<\/p>

Although inventors and entrepreneurs share the same goal \u2014 to profit from a patent \u2014 inventors see the patent as the end goal (the asset), while entrepreneurs view it as a barrier to entry for new competitors, aiming to maximize the exclusive exploitation period of their inventions.<\/p>

This week, we decided to document the case of one of our inventor clients, as their situation is more common than it may seem.<\/div><\/div><\/div>
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Paco (a fictional name) calls us to help him sell a patent for an idea that, according to him, could change the world.<\/div>
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–\u00a0 \u201cPaco, las Patentes no se Venden. Se compran\u201d<\/span><\/strong><\/div><\/div><\/div><\/div>
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He looked at me with a strange face and... shot!<\/div>
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My friend, the truth is that I borrowed that phrase from the private investment sector \u2014 I believe I already mentioned that\u2019s where we come from. Over the past decade, we\u2019ve invested in more than 30 innovative companies.<\/div>
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Before Let\u2019s Prototype<\/strong><\/a>, our business was about making money when companies were sold at a much higher value than when we first invested.<\/div>
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You can already imagine it!\u00a0<\/div>
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The life or death of our business depended on whether each invested company was sold or not. Therefore, choosing the right projects\u2014and the timing of our entry\u2014was crucial.<\/div>
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In that \u201cgame\u201d I learned that putting a company up for sale was economic suicide in most cases.\u00a0<\/div>
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The key was to be bought, it seems the same, but there are several hundred thousand euros of difference.\u00a0<\/div>
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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.\u00a0<\/div>
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If you want to sell your old car, you probably wouldn\u2019t think of asking for more than \u20ac2,000. But if someone falls in love with it or sees value beyond just transportation\u2026 the perception of its worth changes completely.<\/div>
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It seems like a tongue twister, but it is as true as a house.\u00a0<\/div>
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Surprise! This very basic principle is often forgotten in the world of inventors.\u00a0<\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t
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Companies specialized in selling invention patents<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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But my friend, do you really think that for \u20ac5,000 someone is going to register your big idea and also sell a patent?<\/div>
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Oh my God!<\/div>
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The truth is that the path is as long as the one we had to learn for 10 years.<\/div>
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For the sale of the patent to be a real option, you can\u2019t leave any of your homework undone.<\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t
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Steps to Successfully Sell a Patent<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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Step 0: Dream and identify the potential buyers of your patent.<\/strong><\/div>
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Dream about your potential buyers \u2014 but don\u2019t even think about bothering them until Step 7.<\/div>
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Step 1: Validate your patented invention.<\/strong><\/div>
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Prove that your invention works\u2014even before patenting it. Avoid paying for worthless paper. If you choose to invest in a patent before validating your invention with a prototype, you\u2019re most likely making a mistake.<\/div>
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Step 3: Patents are not editable.<\/strong><\/div>
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Remember that once patents are filed, they cannot be modified. So, trust your instinct and creativity \u2014 but don\u2019t underestimate what a specialized team can contribute to your solution. That way, you won\u2019t just register an invention; you\u2019ll protect the best version of it. That\u2019s exactly what we do at Let\u2019s Prototype<\/a>.<\/strong><\/div>
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Step 4: Patent background research.<\/strong><\/div>
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Study the background of your invention, identify market trends, and assess the strategies of potential buyers who are already operating and succeeding in the market.\u00a0<\/div>
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Step 5: Choose the most suitable protection method.<\/strong><\/div>
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Select the best strategy to protect your invention<\/strong><\/a>. The Utility Model<\/strong><\/a> is a great option, but it\u2019s not always the best. Rely on professionals and protect your invention. If you already filed it\u2026 it might have been a mistake!<\/div>
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Step 6: Prepare and document the evolution of the prototype.<\/strong><\/div>
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Invest time and money in studying the transition from prototype to a final, industrializable product.\u00a0<\/div>
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Step 7: Build your sales pitch for the patent.<\/strong><\/div>
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Develop a plan based on business arguments that align with your potential buyers.\u00a0<\/div>
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Start the actions so that they \u201chappen to see your invention\u201d and start negotiations. Preferably, accompanied by professionals with proven experience in this type of business.\u00a0<\/div>
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Dear friend, just a reminder that at Let\u2019s Prototype<\/strong>, we only support commercial processes and the sale of patents<\/strong> for clients we\u2019ve worked with throughout the entire development process. If that\u2019s not the case, we prefer to stay out of it \ud83d\ude09<\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t
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Tips for Writing a Plan to Sell a Patent<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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In most cases, it\u2019s advisable to create multiple sales plans for a patent. An innovative product can appeal to different business models. As the inventor, you\u2019re responsible for capturing in your patent sales plan the key arguments that potential buyers should be able to grasp without too much effort.<\/p>

For example, imagine you have a patent for an innovative product<\/strong><\/a> that could transform the experience of golf players.<\/p>

We\u2019re talking about a machine capable of cleaning golf balls quickly and efficiently, eliminating the rudimentary cleaning methods players currently use.\u00a0<\/p>

The inventor can approach the sale of the patent<\/strong> from different perspectives. Multiple perspectives are valid because the perceived value by patent buyers<\/strong> could vary significantly.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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Potential Patent Buyers<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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Sports equipment distributors:<\/strong><\/span> These are companies that do not sell directly to the public, but instead focus on innovating and mass-producing products<\/strong><\/a> to supply sporting goods stores, which are their clients. These distributors could see value in the patent<\/strong> as a great opportunity to differentiate their product catalog. That perception of distinction could then be passed on to the sporting goods stores within their client network.<\/p>

Retail brand in the sports sector:<\/span><\/strong> We could consider as a potential party interested in buying the patent<\/strong> those brands that sponsor this type of event, aiming to position themselves as leaders in the sector. Promoting innovative and useful products for golf players could be a great way to stand out and strengthen their brand image.<\/p>

Golf course networks:<\/strong><\/span> Golf courses might be interested in offering these innovative machines at their facilities. It\u2019s an additional argument to stand out and provide distinctive value to their clients. Moreover, the machines could be used as advertising platforms for their brands.<\/p>

New entrepreneurs\/investors:<\/strong><\/span> The opportunity to buy the patent<\/strong> could appeal to new entrepreneurs eager to commercially exploit the product. In this case, the perceived value lies in a new business opportunity.<\/p>

As you can see in this example, when it comes to selling a patent<\/strong>, it\u2019s important to study the possible scenarios and the value perceived by the buyers you\u2019re targeting. Likewise, it\u2019s essential to reflect in the sales plan<\/strong> the opportunity focus they might perceive from their specific positions. A key section in the patent sales plan<\/strong> is the financial aspect, so forecasting possible scenarios is also fundamental\u2014considering the potential economic performance the patent could have in the hands of different potential patent buyers<\/strong>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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If you need help designing a patent sales strategy<\/strong>, we can assist you\u2014provided we\u2019ve been involved together throughout the entire process.<\/p>

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\n\t\t\t\t\tDo you want to turn your idea into a product?<\/span>\t\t\t\t<\/div>\n\t\t\t\t
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The time to bring your ideas to life is now. We accompany you throughout the entire process: from idea to product.<\/b><\/p>

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