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I have an Invention ... Now What?
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   Selling Intellectual property
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   Author  Topic: Selling Intellectual property  (Read 1415 times)
2ndtimearound
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Selling Intellectual property
« on: Sep 19th, 2007, 5:18pm »
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This is the 2nd time in 9 years that I have IP to develop into a very marketable wholesale product. I am alarmed that it is taking shape just as my first idea 9 years ago which sat in my desk until seeing it online in 2002. The present IP is just if not more valuable to a certain national and international market. The problem is, I need trustworthy assistance who would be willing to assist under a profit sharing agreement.  
 
This IP is documented in various forms to include novice technical visuals and sketches. I have been in the industry for which my IP was created for over 23 years. This is no fluke. I just need the assistance to bring this IP into fruition. Please let a message with contact info for further discussion. Thank you.
« Last Edit: Sep 19th, 2007, 5:27pm by 2ndtimearound » IP Logged
patent_type
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Re: Selling Intellectual property
« Reply #1 on: Sep 20th, 2007, 7:11pm »
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What country?  What art?  Willing to assist what?  
 
You will have a hard time getting an attorney to do a profit sharing arrangement to draft/prosecute a patent application, but not impossible.  There could be a conflict of interest, but I believe the PTO rules do allow taking an interest in a patent application as payment for the patent prep/prosecution (somebody should check, but I think that's allowed).  
 
Besides, we know that about 1 in 50 (if that) patents actually ever even generate enough "profit" to cover the cost of preparation.
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2ndtimearound
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Re: Selling Intellectual property
« Reply #2 on: Sep 20th, 2007, 7:50pm »
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I realize what I am trying to propose is quite a shot in the dark but for someone without the capital to support a grass roots venture it's all I have. It's very frustrating to know I am exactly where I was 9 years ago seemingly headed for the same conclusion. All I can do it to continue to troll my blind idea in hopes someone will pick up on my sincere urgency and offer to help.. I know that's quite a long shot but that's all I have right now. By the way I am in Georgia (USA). Not sure of the Art you are speaking of. Finally, I need direction with this IP just as before.
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MattB
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  mbycer   MBycer
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Re: Selling Intellectual property
« Reply #3 on: Sep 21st, 2007, 11:09am »
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Hi 2nd,
 
Another issue, as brought up by patent_type is the conflict of interest.  Suppose you have a new bicycle part.  If you wanted someone who writes bicycle patents, who is experienced with this technology, to write your patent and take an ownership stake in the patent, he may be forbidden to do any further work on his already filed patents in that field and be unable to accept new work in that field for his conflict with ownership in your business.
 
Many will be reluctant not only for the direct loss in wages by taking on your case, but also the crippling effect it will have on his practice.
 
Be careful, you will need to find someone who really believes in you and your product, someone retiring, or someone very desperate.  All seem to be recipes for disaster.
 
I suggest you spend your energies raising enough capital to cover some immediate costs and hire an attorney who is flexible and willing to work with you (for pay).
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Matthew L. Bycer
Registered Patent Attorney
http://www.bycer.com
http://www.cvglaw.com
DJoshEsq
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Re: Selling Intellectual property
« Reply #4 on: Sep 24th, 2007, 9:34am »
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Although I don't recommend it, you may file a provisional patent application for $100.00.  That will give you a year to obtain capital.   Also, you may be able to find a patent attorney to prepare the provisional patent application for as little as $2,000.00 or less - which is a small investment if you truly believe in the market for the invention.
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D. Joshua Smith, Esq.
Registered Patent Attorney
McDonald Hopkins, LLC
Cleveland, OH
216-348-5400
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