9 – A Patent Does Not Guarantee Licensing The Invention

A granted patent does not mean instant cash flow. The protected invention must be transformed in a marketable product in order to generate revenue and profits. There might be a long way to go before a patented product or process is ripe for sale. Depending on the capabilities of the entity owning the patent, marketing a patented invention may entail entering agreements with other institutions, which would be completely or partially in charge of the commercial exploitation. The strategy followed for the commercialization of an invention depends on the market value of the technology, the financial position of the patent owner and the human and capital resources that could be invested in the commercial venture. Among the options for commercialization are: licensing, through which some patent rights are granted to another in exchange of payment; creating a start-up company for marketing the product; undertaking joint ventures, where other parties may be the capital providers; cross-license of IP rights with other institutions; and selling or assigning all patent rights to another entity.

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