There are several ways to monetize your patents.
1. Selling your patents
You may sell your patent rights to another party. You can also sell a part of your patent right and share it with the other party. So, if you find someone who wants to buy your patent, you can sell it directly to that person yourself. You can also ask a patent broker to help you find a buyer and sell it to him
2. Licensing your patents
You can receive license fee by allowing others to use your patents. You can grant an exclusive license to a particular party, or you can grant a non-exclusive license and also grant the license to other parties.
3. Filing a patent infringement suit
If someone uses your patent without your permission and you are suffering damages, you can sue them in court. In that case, you can get money as compensation for damages. A court case takes a lot of money and time. Therefore, it usually becomes an option chosen as a last resort, for example, when the other party does not respond to negotiations.
4. Obtaining a loan using a patent as collateral (IP financing)
Normally, when you get a loan from a bank you are required to have real estate such as buildings or land as collateral. However, some financial institutions are willing to give you a loan by using your patent as collateral.
If you would like to monetize your patents, please feel free to contact us.