Have a Patent?
Your idea is in the patent stage, you haven't been able to get to the next level, and the phone hasn't been ringing off the hook. What went wrong?
If you've wondered about some or all of these issues, then you're probably ready for the next step.
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.
Most people who have a patent on a product idea have either gone to a patent attorney to have a patent filed, or have filed one on their own with the United States Patent and Trademark Office. A common misconception is that once the person has a patent, their invention will automatically be on the market, earning money.
A patent-holding individual, who is pursuing a new product idea on their own, must do at least one of the following to get the interest of a corporation:
- Invest a significant amount of money into manufacturing the product in the hope that it will sell.
- Sign over the patent to a corporation that, in turn, manufacturers the product and pays the inventor royalties.
- Sell the rights to the patent for a set fee.
More often than not, these efforts are unsuccessful. This may be dissapointing news for someone who has allocated resources toward patenting an idea that 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. Regardless of the path you have chosen to date, teaming up with an experienced partner is the next logical step.
