PatentWorks, LLC

Frequently Asked Questions:

  1. What information do you need from me in order to present my patent to prospective buyers?
    A. Below is a list of information that will be useful in order to present your patent(s) to prospective buyers.
    • The number and title of each patent in the portfolio for sale.
    • The names of all inventors, and assignees.
    • Any "must-sell-by" date (optional).
    • Your asking price range for the portfolio.
    • Why you feel the portfolio is worth the asking price range.
    • Why are you selling the patent(s)?
    • Are there any encumbrances on the patent(s)? For example, is the patent currently licensed to another party?
    • Are there any related patent applications (continuation, divisional or continuation-in-part)?
    • The origin of the patents - homegrown, acquired?
    • Any marketing materials you have developed surrounding the invention.
    • Any market analysis, claim charts, presentations or other materials you may have.

  2. Will it cost me any money to have you broker my patent(s)?
    A. No money is required, only complete and accurate information to provide prospective buyers.

  3. How do you make your money for brokering my patent(s)?
    When your patent(s) have sold, we receive 25% of the transacted value (the money you receive). If we don't sell your patent, we receive no money.

  4. What about any expenses related to selling my patent? Who pays for that?
    A. We absorb all expenses related to selling your patent. There is no cost to you.

  5. Is it a good thing if there currently are infringers of my patent?
    A. Probably yes, it can increase the perceived value of your patent to some parties.

  6. Do you have a glossary of common patent terms available?
    A. Yes, click here for the glossary.

  7. How do I decide the minimum amount of money I am willing to accept for my patent?
    A. The minimum should be the amount that you feel comfortable with if a sale is made at that price. However, we will work to maximize the value of your patent -- if you make more money, then we make more money.

  8. What is an "encumbrance"?
    A. An encumbrance is claim against the intellectual property by another party. Encumbrance usually impacts the transferability of the property and can restrict its free use until the encumberance is removed.

  9. Will you sign an NDA non-disclosure agreement before we discuss my patent?
    A. Yes, we are willing to sign an NDA subject to legal review.

Copyright © 2013 PatentWorks, LLC. All rights reserved. PatentWorks, LLC is not a law firm and does not provide legal services or advice.