You have a patented product and competitors are interested therein and you wonder if you should sell or license the patent for that product?
The strategy for taking a decision on selling, licensing or keeping the patent, should start by assessing the real value of the patent, and for this purpose, it is advisable to hire a company specialized and experienced in conducting economic evaluations.
Such decision should also be considered bearing in mind the different characteristics of the patentee, i.e., if the patented product is associated to a company, the damages and/or advantages that a definitive sale, a license or implementation of the product concerned may cause to the company production should be assessed.
Further, there are also issues as the geographical scope, field of use, sector, values involved, both in the case of a sale or in the case of a license agreement, and also if the holder of the industrial property right intends to execute a license agreement with only one entity (exclusive license) or several entities (multiple licenses).
In brief, there is a range of issues that should be considered in order to, confidently, advise about selling, licensing or keeping a patent. Issues of this nature require a careful intervention and prior analysis of the product, patent and situation. Unless when the holder of the intellectual property right (patent) is an individual inventor with no connection with the company or investors. In those rare exceptions it is deemed that, in principle, and in most cases, it is advisable to sell.
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09 December 2021