How To Buy Patent Rights

Do you want to be the next patentee for certain rights? This is not really something that the US Patent and Trademark office takes lightly, but it is possible. If you are really bent on buying patent rights for your personal or business use, here are the steps that you need to follow:

Search for the patent that you want or browse through patents for sale. Some good online sources include websites such as Patent Auction. The patent that you want is the very first thing that you must decide on before anything else. This will be the starting point of almost all your transactions in this process of buying patent rights. In this light, you might need to file separately on paper depending on the nature of the patents that you are trying to buy.

Find the selling price and check your budget. Auctions already have set prices on them for you to see and bid accordingly. On more rare patent rights, you might need to check with the owner first how much they are willing to sell it for. This way, you will be able to prepare for the costs involved in buying the patent right.

Get in touch with the patent owner. The patent owner is the most vital link because he or she the one is the legally acknowledged person who can provide the transaction needs that you have for the patent right. On top of that, the patent owner will be able to fully address whatever questions you may have regarding the product.

Ask the patent owner to draft in writing the assignment. This must be filed and submitted to the Patent and Trademark Office and authorized fully by the same. A written worded statement for the patent right owner will enable you to gain partial or full rights with the patent object. 

Wait for the public notice to come up. The office will be able to publish the intent of the owner and your party to have that partial interest or rights to the object of your choice. This is necessary so that everyone will be properly informed and it is legally recorded in the office for safekeeping and ready reference.

Hire a lawyer to help you with the transactions. A lawyer will help supply you additional legal information that will allow you to move freely. This will save you the hassle of getting into something with traps in it.

Get free advice online. Websites like Free Advice will give you additional insights on your particular case.

Buying patent rights is a surefire way to ensure that you don't step on anyone's intellectual property as you go about your job or personal affairs. This is also a good way to explore the intellectual riches available for you all over the world. It is still best to transact within your local area or country so that you will not have to worry about the problems that might come up with international linkages.


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