Q21

How do I make/get money out of my patents?
To make money out of patents is not that easy. First of all you have to identify and convince the licensee to pay you royalties. This is much more easier if you can prove that he is infringing your patent. If he is not infringing you have to offer your patent to his patent department.
You should remember that nobody wants to pay money if not necessary and if they do not have an added value.
Moreover, you may think to offer exclusivity and maybe additional technology transfer.
TIP: Do not expect too high royalty rates. Very often the negotiated and fixed rates are between 0.5-1.5% from revenues of the product.
E.g.: car wing mirror: 0.002% of sales price (e.g.: 30,000 Euro) = 60 Euro. For each sold car with your patented technology on a wing mirror you will receive 0.9 Euro.

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