Are old patents worth anything [No Fluff]

Last updated : Aug 3, 2022
Written by : Argelia Calvey
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Are old patents worth anything

What do you do with old patents?

Once you've located a patent that has expired, you can contact the patent owner and negotiate a sale. You can buy the invention and all rights to it, including the patent. You then renew the patent by paying the lapsed fees.

Are patents worth anything?

A review of available data shows that, as of 2016, the median price paid for issued U.S. patents was about U.S.$ 225,000, while the average price paid hovered around U.S.$ 360,000.

What is the average value of a patent?

This chart tracks per-patent property price for recent publicly announced sales. Prices range from about US$130,000 per property to nearly ten times that. And these prices are for “valuable” patent portfolios. Equally enlightening is the calculated average US patent value of US$78,000.

Can a patent make you rich?

A patent gives you ownership rights to your invention. Simply owning a patent doesn't make you money, however. To profit from your invention, you can do the following: Market it yourself.

How much does it cost to buy an abandoned patent?

If you are considered to be a small entity, you will only have to pay $850. Individual inventors and small businesses that have under 500 employees are considered as small entities, and will only have to pay $850 to reinstate a lapsed patent.

How long before a patent expires?

How Long Do IPR Rights Last? A U.S. utility patent, explained above, is generally granted for 20 years from the date the patent application is filed; however, periodic fees are required to maintain the enforceability of the patent.

What is the most valuable patent?

Alexander Graham Bell was granted a patent that recognized him as the sole inventor of the telephone, US patent no. 174,465, eventually became known as “the single most valuable patent ever issued in the history of the world”.

How do you determine the value of a patent?

Conventionally, patent valuation can be performed using three main approaches – market approach, income approach, and cost approach. In the income approach, the value of a patent will be the current value of cash flow or cost savings that it will provide.

What makes a patent valuable?

Potential Profit Profits (or savings) derived directly from a patented technology make the intellectual property more valuable. Value can also depend on the industry and target market of the resulting product or service. A larger market often means more potential profits, and therefore a more valuable patent.

Where can I sell my patent?

  • Free Marketplaces. Patent Mall.
  • Paid Marketplaces. IAM Market.
  • Patent Brokerage Marketplaces. ICAP Patent Brokerage. IP Trader.
  • Programs for Patent Owners. Marathon Patent Group.

How do you make money off patents?

  1. Start a business: Product conversion.
  2. License your patent.
  3. Use a patent licensing company.
  4. Use it as collateral for a bank loan.
  5. Sell off your patent rights.
  6. Sell to a business that's expanding to your country.

Can I sell a patented product?

The U.S. Supreme Court in a recent ruling has opined on the rights of a purchaser to use and resell patented products. The patent system give the patent owner the right to exclude others from making, using, and selling the patented invention, for the life of the patent.

Can you claim an abandoned patent?

2) Can I use an abandoned patent? No, you cannot use an abandoned patent application because the applicant has an opportunity to revive the patent application and reply to the office action if the delay was unintentionally caused.

Why would you abandon a patent?

Gaining and maintaining a patent is expensive; if the commercial potential is not enough to cover USPTO fees and legal expenses, a patent may be abandoned.

Can you revive an expired patent?

In the U.S., lapsed patents can be reinstated during the first two years after an “unintentional” nonpayment of a maintenance fee for an issued patent, with a short statement that the error was unintentional and with the payment of a fee.

What happens to patent When owner dies?

According to the U.S. Patent and Trademark Office, you can pass your patent to your heirs. You would do this in your estate planning. You will need to complete an assignment document that will legally allow the rights and ownership of the patent to pass onto your heirs upon your death.

How do I know if a patent is still active?

To determine if a patent is still in force, you will need access to the USPTO's website. You can find most of the information in the text-based display, but not all. You will need to look at the patent image, which is in PDF format.

What is the oldest US patent?

The first US Patent, numbered X000001 (pictured right), was granted on July 31, 1790. The patent was granted by President George Washington. The patent was granted to Samuel Hopkins, in Pittsford, Vermont, for the "making of pot ash and pearl ash by a new apparatus and process".

What company owns the most patents in the world?

In 2021, IBM had 8,682 patents assigned to them, ranking first among companies according to how many patents had been assigned to each.

What is the most valuable intellectual property?

Google's trademark--now the most valuable on the planet, according to Brand Finance--is worth an estimated $44 billion, or 27% of the firm's overall value, measured by market capitalization (its stock price multiplied by the number of shares).

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Are old patents worth anything

Comment by Merle Wene

hey it's don skaggs again for empowered inventing the one place where you can come where we try to help you help other people uh by taking your great idea the right opportunity mixing that with sound wisdom so you can turn them into real things like products and businesses that make money and those people that you help they say thank you please continue helping us let us give you the ability to do that by sending you for certificates of appreciation call dollar bills now i want to talk about a question i get asked quite a bit by inventors and entrepreneurs and that is uh don how much how much is my patent worth how much is my patent actually worth if i was to try to sell my patent and or a lot of people just have this automatic idea that their parent their patent because they they built up their idea as so important and so valuable in their mind that they think all i have to do is get this patent and they think all the money that they spend on their patent makes their patent worth something and you know many times these inventors they just they think that they spend most of their time and energy rushing in and getting that patent spending that ten thousand dollars or however much it's going to cost them and and by the way you don't have to spend ten thousand dollars to get a patent you can you can spend twenty you can spend fifty thousand dollars to get a patent if you if you do it stupid enough and but guess what uh yeah a lot of times especially for independent inventors and entrepreneurs i end up having the sad job of having to tell them what i'm about to tell you now so i want you to listen this because a lot of times these people have mistakenly believed that what they spend on their patent is what it what makes it valuable or or that's a don i spent ten thousand this has to be at least worth twenty thousand dollars i spent ten thousand dollars on it don surely it's worth ten thousand dollars right no has not one has nothing to do with the other and let me tell you why what does make a value uh patent valuable is it the money that you spend on it well you have to look at it this way look at it through the lens of the eye of the buyer the buyer is going to see it for what matters to him not to you but to him so uh if he's the buyer is sitting there thinking well if i license this or if i buy this for f for this is it going to pay me this now you might think in your mind because you've sat there and thought about it and thought about it and thought about it oh i know i know people are going to want to buy this i know that somebody's going to really really want this but you've not tested it in the marketplace you don't have any real world experience with the product the product has no real world experience with whether it's going to sell or not that's not going to tell the that's not going to tell anybody else that so this is only true it's only going to have value if this person this buyer can sell it make it and sell it and sell enough of them to overcome that x overcome that price that they're paying you for it overcome that royalty of what they're going to pay it's what's what they call roi return on investment so what they're thinking in their mind first thing what kind of if i if i license this patent if i buy this patent whatever they're going to do then am i going to have a return on my investment and then they're going to wonder if it will sell and if it's an unproven patent unproven technology in the marketplace you know they don't know that so some will take a chance and yes it does happen but you're not going to walk in with a napkin sketch and walk out with a check for a million dollars it the world does not work that way but you you can still convince them though but you need to make a strong case in order to do that and there's a lot of really good ways there's a lot of really good books out there stephen key has a great book called one simple idea it's all about licensing uh it's a it's a a book uh someone i highly recommend so if if you now a little more in my world though if you have a little bit of proof that it's selling if you sold some on a small scale because you know i kind of take that entrepreneurial route so if you if you can sell it on a small scale that will help a lot and sometimes you can do it sometimes you can't sometimes one route's better than another depends on the product the industry a lot of different things but i've always felt like if you can prove a little bit of it if you've kind of tested it some that'll kind of go a long way or a lot further than if it's something that's never seen the light today now another question you can ask about finding out whether your patent is really worth something is do you have other things to go along with it well don what do you mean by that well what i mean is uh do you have good optics for your product can you make it look like it belongs in their product line and by the way don't sell you know cosmetic face cream don't try and sell cosmetic face cream to a company that sells fishing supplies now that's a that's an absurd um comparison but i'm trying to make a point here and and that point is know who your audience is if they're not used to selling this kind of thing you know you might just be barking up the wrong tree so find places that look like they're good fits for your product when you're going and talking to these people uh so is it good so it is a is it a good fit with their other products it's very very important another thing is will it look like it's going to sell if you've got an ugly if you're taking a franken type and just kind of kind of just putting some makeup on it and and you're trying to sell it as a demo type usually that doesn't work out too well try to and we always talk about you can check out the other videos or one of our online classes we talk about prototyping and the difference between a frankentype and a demo type and and who you're proving those to and why they're important uh to have two different ones and and and why they you're each independently important over the other so uh if you know what i'm talking about you know what i mean by a demo type that's the one that you're proving the other people franco type's the one that you prove to yourself that it works it's ugly it's cheap but you're proving it yourself then you rig it really pretty you make it look like a manufactured product and you make a nice demonstration of it and that's the thing you use to sell so again it goes back to optics you've got to have your optics right so um will it look like it's going to sell so let me let me wrap it up with this i've had patents i've had trademarks i've had all kinds of different versions of ip that added value to my company when i sold it so i had a company and that that sold and the reason those patents added value to our portfolio to our to what we sold as a business with a added value only because they were connected to products that were successfully selling in the marketplace and if you can do that first which again i kind of like that entrepreneurial route you understand who you're selling it to because you're selling

Thanks for your comment Merle Wene, have a nice day.
- Argelia Calvey, Staff Member

Comment by crvakn

there is a wise old Japanese saying the nail that sticks out gets hammered down well down in Tokyo there's one nail that sticks out just about as far as you can imagine an inventor known across the country a mad genius with a staggering number of patents tongue sanguine imagining hey Gavin yeah Thomas Alva Edison know somebody up that includes a wig for self defense meet you shiro Nakamatsu you may notice his name is spelled Nakamatsu he dropped the letter you because he says an eight letter name is easier to remember but he still wants you to pronounce it you got a duck dr. Nakamatsu score key inventions brought him worldwide recognition inventions like the P on P on booths with Springs that put an extra bounce in your step there's dr. Nakamatsu Surrey Breck's it looks like a lazy boy but the doc says the darn thing enhances brain power then there's the gold golf putter that paints when you strike the ball Oh would you look at that you know you've made it when the streets are named after you but make no mistake dr. Nakamatsu inventions aren't all noisy golf clubs and bouncy shoes he claims to invented the floppy disk that's right that floppy disk retractable landing gear a widely used kerosene pump and even the digital watch to maintain his hyper creativity dr. Nakamatsu keeps his mind and body in shape that lightweight inventor Thomas Edison said genius is 1% inspiration and 99% perspiration is that your secret dr. Nakamatsu yeah Ezra expiration Donna no Sara nuestro dosel khodataeva con todas CNO yeah static guru matter camel toe toe toe covering a jumble changes Nathanael Reba tere bin Laden Patoka Jeon abandoned temple Sunnah is say hi Donna Donna has no creative Khanna dynamic remedy that's my new motto me Noah it's more Beethoven die gonna die some actual study as Muhammad Remus sir a demo domina by our own destiny aku not anonymous crew a secret of the Daruma optimism missus no not animal to holders mizuna Panama where most of the sands Oona nonny Monica cameo has mesh mosh day soryo motifs each element a toast huzzah - Tesoro Memon todo y koto Atomos cinnamon oh great enrico biomat ago toe wisdom on tonight Oh sigh so Tina's Oh Madonna no day sinico hats researcher dr. Cotterill chili o'connor Hodgman horse texture is your new machine gun cried master attack schewe tending vanishes master dr. Nakamatsu saw the cancer as an opportunity it was his greatest challenge to invent his way out of an impossible corner he developed his own personal cancer treatment this includes a meticulously documented diet and a new invention to fight the cancer he calls the Gangan robe the doctors gave him one year to live that was five years ago but actua quue sudesna t stay low gentle motor Mason what actua rocket so stay services - Tina Choi Hyun Joo sang not a tequila so dos uno Cienega not to sin puñado de Mishima's NK demo ad actua cinema dejas meiosis guru desho natte Inanna attack Shiva Street Oh No Sergio Matamata tight a tomar el paradis selenium they attack us yes

Thanks crvakn your participation is very much appreciated
- Argelia Calvey

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