Make More Money by
|•||Understand why selling a patent is often a complex and difficult matter, making licensing an attractive alternative|
|•||Properly manage a license once it's signed|
|•||Make sure you get what the licensee has agreed to pay|
|•||Recognize the difference between a joint venture and a strategic alliance|
|•||Understand the choice between paid up and running royalty licenses|
|•||Understand how to increase the value of a patent or a patent license|
The question is often (but not often enough) asked: “How can we [or I, or in one instance at a cocktail party, a friend] make money from our intellectual property?” Briefly stated, there are three ways to make money from any property: (1) sell it, (2) rent it, or (3) use it. The choice depends on which approach or combination of approaches yields the greatest return.