You have patents and IP. How will you monetize these assets? It’s important to carefully consider the specific circumstances, market conditions, and goals when choosing the most appropriate monetization strategy for a particular patent or portfolio of patents.

Here are the top 10 ways to monetize patents

The most apparent methods are:

Creating and Selling Products:

• Developing and manufacturing products based on the patented technology and selling them in the market.

Licensing

• Exclusive Licensing: Granting exclusive rights to a single licensee.
  • Non-exclusive Licensing: Allowing multiple licensees to use the patented technology.

Sale or Assignment

• Selling the patent outright to another individual or company.
  • Assigning the patent to a third party in exchange for a lump sum payment.

Enforcement and Litigation:

• Enforcing patent rights through legal means, such as filing lawsuits against infringing parties.
  • Successful litigation can lead to damages or settlements.

Royalties:

• Receiving ongoing royalty payments based on the usage or sales of products incorporating the patented technology.

Here are the other less apparent monetization methods:

Strategic Alliances

• Forming strategic alliances with other companies for mutual benefit, where the patented technology plays a key role in the collaboration.

Joint Ventures and Partnerships

• Collaborating with other companies through joint ventures or partnerships to develop and commercialize products based on the patented technology.
  •  

Subscription Models

• Implementing subscription-based models where users pay a regular fee to access or use the patented technology.

Open Source Licensing

• Releasing the patent under an open-source license, allowing others to use, modify, and distribute the technology freely.

Franchising

• Allowing others to operate businesses using the patented technology under a franchise agreement.