So far, it has not been easy for inventors to evaluate their inventions, although almost all inventors think highly of their inventions. Mainly because they could envision a future where their idea made the impact it was meant to and changed the lives of those who benefit from it. However, that vision remains hard to share and pitch to interested buyers and even developer partners, as discussed previously. There are the main factors of portfolio and infringements that could highly influence in value of intellectual property, and there are others.
The commercial side of the invention is usually the first obstacle that inventors face going to the market. How much does it cost to make your solution available, how much are those benefiting from it are willing to pay, and most importantly, and most importantly, how big is the market? Although some of these aspects are the last to come into inventors’ minds, they happen to determine the fate of the invention.
Is the invention in a currently ‘hot’ market? In the 1920s that would be the automobile industry, in the 1980s that would be personal computers and their software followed shortly after. Currently, the race could be towards augmented and virtual realities. The closer your invention to what’s currently sought the more valuable your invention could be. However, that too can be speculative, your insight or invention itself can have an effect on the current status of such markets and where it’s headed. Also, your invention can be related to more steady markets like those related to hobbies, home, garden, construction, tools, etc.
Visibility and development are two factors that we, at IntegraPitch, believe have a major effect on the value of your invention. Going to your local inventors’ club or association is a good way to get your invention visibility, but how many would really see your invention and get to judge it? Are they experts in your field? Are they interested in acquiring or developing your invention for equity? One should take such limitations seriously. By all means, try to get the most visibility to your invention, study its market and how it can be presented to possible investors and development partners to increase the value of your Intellectual Property, Patents, and inventions.
A single patent can be offered as low as $5000 to $3500 per single patent offered for sale, to an average of $175000 for more developed patent packages. Our approach, at IntegraPitch, is giving every invention the opportunity to be seen, interested CAD and Prototype Engineers could be an invention’s first believers, and developing such IP increases its value exponentially. And equity is a great solution because a share of a big pie can be better than a single cookie.