How to make money with patents?

The four main strategies for making money with patents are: These strategies and the pitfalls of each strategy are discussed below. 1. Commercialize your invention Patents can help you to make more money on a product. Let’s discuss how? The basic purpose of a patent is to stop competitors as a barrier to entry from selling the patented product.

Can a patent pending invention make money?

Being able to describe your invention as patent-pending has value. If you want to make money from your ideas, you have to be pragmatic. First, you need to realize that the odds are against you — and thus, you will need to fight to be paid for your creativity. Is this fair? No, this is business. Fairness has nothing to do with it.

Is a patent worth it?

If they don’t want the patented feature, then the strongest and broadest patent cannot do anything for you. The patent won’t be worth the paper it’s written on. You will not make any money on your invention. Yes, a patent can help you to sell your product at a higher price. However, it does not guarantee to do so.