To monetise Patents, most businesses around the world face difficulties in picking the correct strategy. Nine out of ten Patents fail to create value for their respective owners. Such Patents don’t get implemented in products, nor do they find any licensing opportunity in their lifetime. The high-stake deals relating to #PatentLicensing and selling leave a small margin for mistakes, as problems that arise at this stage can cost a chance.

Significance of Patent Licensing and Selling in a Business.

Some businesses or companies may consider Patents as ad-hoc profits stream rather than a part of the more excellent business plan. Instead, they should look at Patents as a regular alternative profit stream that can complement their primary business activities. For instance, when a company builds #Patent, they have some choices; they can either exercise them by incorporating them into their goods and services or sell them at a heavy price. Businesses can also decide to license their Patents and make a profit out of royalties. But, the catch is that sometimes Patent licensing and selling deals can be enormously complex. They often leave the area for costly mistakes. The idea is to predict such problems & avoid them entirely.

Some common mistakes People Commit During Patent Licensing and Selling.

1. Inaccurate Patent Valuation: This is one of the major mistakes peoples commit at the time of Patent licensing and selling. Since there are no industry criterion procedures for Patent Valuation, businesses may incorrectly estimate the Patent value or even the whole patent portfolio. Patent Valuation approaches based on the cost, market, or income aspects can aid to a great extent incorrectly judging the Patent Value.

2. Selling Essential Patents: Without a correct Patent portfolio evaluation, organisations may finish selling their vital Patents, which are connected with their primary activities. Hence, it is recommendable to always license such Patents instead of selling them. Otherwise, the company may lose its competitive edge in the market. Companies must calculate their Patent portfolio regularly origin to recognise Patents that are core and non-core to their business.

3. Incorrectly Structured Pitch Deck: Most businesses commit mistakes while structuring a pitch deck for their Patent portfolio or Patent during Patent licensing and selling. In other terms, a Patent pitch deck is a PowerPoint deck defining the Patents available for license or sale along with seller or licensor and market information.

So after discussing the common mistakes people commit during Patent licensing and selling, it is essential to hire an expert who will help you avoid such mistakes. Since Patent licensing deals are pretty complex, companies shouldn’t hesitate to take some help from external strategic partners who can accurately guide them through the arrangements. They help companies control the full capability of their Patent portfolio or Patents by avoiding costly mistakes.

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