Have a Patent?
Most people that have a patent on a product idea have either gone to a patent attorney to have a patent filed or filed one on their own with the United States Patent and Trademark Office. By definition, a patent is a grant made by the government that confers upon the creator of an invention the sole right to make, use, and sell that invention for a set period of time.
The misconceived notion is that once the person has a patent, the rest is smooth sailing. While patenting is important, it does not automatically mean the invention will be on the market or earning you money.
In order to have a patent become successful, it has to generate interest in one of three ways:
- The inventor invests a lot of money into manufacturing the product in the hopes that it will sell.
- The inventor assigns over the patent to a corporation that in turn manufacturers the product and pays the inventor royalties.
- The inventor sells the rights to the patent for a set fee.
While it can be said that each one of these three examples may be successful, the truth is, more often than not, they are unsuccessful. This may be hardening news for someone who has allocated resources (that they may or may not have) to patenting an idea and who is now at a standstill.
If you want to have your patented product prepared and presented to corporations for possible licensing, we recommend you fill out the free information form and Davison will send you information on how to pursue your patented product.
As an independent inventor with a patent, you've started on a path to pursuing your idea. Regardless of the path you have chosen to date, teaming up with an experienced partner is the next logical step.
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