How Do You Monetize Intellectual Property?
Intellectual Property Monetization can be done in several ways:
€ Protection of Products in Marketplace- The most significant way to monetize intangible asset is to reap the benefits of commercial advantage given to your services or products as a result of the exclusive rights. Since a patent lets the owner to leave out other products from the marketplace, your products mostly enjoy good market share, maximum gross revenue and higher per product income. In several technical fields, a robust patent listing brings down the company's operational costs by letting the company achieve licenses to others patents with no or limited payments.
€ License patents in lieu of Value - There are quite a good number of grounds where a patent owner, involved in creating direct income from a patent might opt for licensing the patent. Patents can be licensed for the Royalty. One can also prefer to license technology in exchange for other company's technologies.
Selling Intellectual Property Or Portfolio- Variety Of Approaches
One can make good use of varied approaches when the matter relates to selling Intellectual property or Portfolio.
These are as follows:
Sell it Yourself: As an intellectual property owner, one can do the necessary market research to select the companies which might be making products covered by the patent. You can also also take on the extra work of deciding the true valuation for the patent followed by negotiating a proper sale.
Engage an Agent Or Broker: You can also take the help of an agent or a broker to sell a patent or portfolio of patents. The brokers or the agents takes pride in having a good network of other parties, interested in licensing and sales or have experience with the valuation of assets. Mind it, the fees that are being charged for such work is just a percentage of sales proceedings.
Public Auctions: Patents being collected are often sold through public auctions which are hosted by entities such as ICAP Patent Brokerage. The auctions enjoy a good deal of benefits over the private transactions. They come up with more controlled and dedicated transaction process coupled with opacity and a sense of competition when it comes to sales.
So, develop a strategy around safeguarding and monetizing the intellectual property and improve the financial performance.