IP monetization

What You Need to Know About IP monetization

Deriving monetary value from IP developments is known as IP monetization. Intellectual property is a combination of the human thought process and understanding how it will benefit the users and the owners.

Monetization of intellectual property is one of the fundamental aspects, which motivate the creator to innovate for something. IP assets can be used to generate revenue to strengthen the overall profit and diversify the investment risks.

To monetize intellectual property, one can consider the following steps as an exemplary scenario. Many other ways exist for monetization.

  • The first step is to find whether the public uses your patented technology or not.
  • The second step is finding an attorney who can help one get a license and handle the litigation.
  • The third step is to conduct litigation to receive compensation efficiently and timely.

Patent Licensing

It is the act of providing patent ownership to a third party (assignee). This gives an assignee the right to make, sell and, use the technology with predefined royalties. There are different forms of licensing:

Patent Enforcement

Enforcement of the patent is the most common form of monetization of patents. The owner of the patent has the power to enforce the patent once the patent is granted. But enforcement of the patent is a costly procedure, and therefore, the involved parties usually try to settle down the case with the infringer verbally.

Most of the times, the infringer agrees to dispense the amount of the license so that he can continue to use that technology. If the settlement doesn’t happen peacefully, then often a patent attorney is needed, or in worse conditions, a case is also filed in the federal court for the patent to be enforced. Claims are the legal part of the patent, and while filing a lawsuit against infringement, one must look closely at the claims.

IP Bank

This is a boon for the startups. IP bank provides sources and monetary support to the small industries and new build-ups to gain economic benefits from next-generation services and products. IP bank also provides independent inventors and small patent owners with options to use and sell their intellectual property that the current market does not offer. This aims to boost small firms and provide them with a recognizable position in the market.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these <abbr title="HyperText Markup Language">HTML</abbr> tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>