SELLING YOUR PATENT

By Eric Corl, Idea Buyer LLChttp://www.IdeaBuyer.com – The Online Marketplace for Intellectual Property

SELLING YOUR PATENT STEP 1

1. BE PREPAREDA. Know Who Your Customers AreB. Know the CompetitionC. Know the Current Market VolumeD. Know Your Manufacturing CostE. Know Your Anticipated RetailF. Know Your Anticipated MarginsG. Have Proper Presentation MaterialsH. Know What Type of Agreement You Want

SELLING YOUR PATENT STEP 2

2. BE POLISHEDA. Have Research to Back Up Your ProductB. Have Testimonials That Your Product WorksC. Have a WebsiteD. Have Letters from Potential CustomersE. Create a Business ProposalF. Show the Company How They Could Integrate the Product

into Their Line Up.G. Sum it all up in materials you can leave behind.

SELLING YOUR PATENT STEP 3

3. TARGET YOUR EFFORTSA. Know Who Makes Competitive ProductsB. Know Specific Manufacturers in the IndustryC. Conduct Research on Each Company PRIOR to Contacting

ThemD. Establish a Warm Contact into the Company if Possible

Resources: Thomas Register, Linked In, Idea Buyer

SELLING YOUR PATENT STEP 4

4. BE PREPARED TO NEGOTIATEA. Are you open to a licensing agreement? If so, are you open to

an exclusive agreement?B. Are you set on an outright sale? C. Know the difference between % of gross profit, net profit,

gross revenue.D. Do not sign prior to reviewing any agreement with a lawyer.

Any verbal should be noted as contingent upon attorney approval.

E. Do not be greedy.

SELLING YOUR PATENT STEP 5

5. DELIVER A POWERFUL PRESENTATIONA.Use Numbers to Make it Come AliveB.Eliminate HypeC. Deliver In OrderD.Avoid “Happy Talk”E. Focus on What MattersF. The Shorter, The BetterG.Answer Tough QuestionsH.Consult Your Patent AttorneyI. Rehearse BeforehandJ. Close with a Call to Action

Sell Your Patent ResourcesIdeaBuyer.com – The Online Marketplace for Intellectual Property

Full Article – 10 Tips for a Powerful PresentationLinked In – Linked In dot comThomas Register – Thomas Register dot net

Good Luck!!Eric CorlPresidentIdea Buyer LLC832-683-1527EricCorl@IdeaBuyer.comhttp://www.IdeaBuyer.com