| You often hear someone bragged that they have | | | | ideas. Just imagine, there are so many |
| this fantastic idea and they want to sell it for one | | | | departments in a company, so which department |
| million bucks! Or perhaps even you yourself have | | | | door to knock at? There is normally no such a |
| thought of it before. And why not, who would not | | | | department as ‘ideas department’! If you |
| want to be rich, right. But boasting it is of no use. | | | | go to the sales department, you will be |
| First of all, having an idea that can be sold is not | | | | disappointed because the sales people will not help |
| an easy thing. For one thing, it has to be | | | | you out. They will not want more products to sell! |
| documented, and preferably even filed as a | | | | And if you go to the technical department and tell |
| patent. For another thing, disclosing it could give | | | | them your idea, they would have too big an ego |
| away the idea and kissing it goodbye. But in | | | | to accept your outside idea, or worse off, they |
| actuality, many ideas have been stolen from their | | | | might just steal your idea and tell their boss that |
| rightful owner just because the owner did not | | | | ‘they’ have come out with the idea! So, |
| know how to go about it. There is a proper and | | | | selling your idea to another company is an uphill |
| safe way to thread, but most people don’t | | | | task. If your idea is not properly documented, or |
| know about it. It is like when you need to pass | | | | waiting for grant of patent, the task of selling it |
| motion, then only you go and search for the loo! | | | | off is even more difficult. Well, what then? |
| Or worse, just brag about it and tell the idea to all | | | | Luckily, there is another alternative. You can sell |
| and sundry, and hope that someone will guide | | | | your idea, whether patented or not, through a |
| them to that pot of gold. Let us assume that you | | | | patent broker or an intellectual property |
| have indeed a good idea, an idea that can be | | | | brokerage firm. These companies specialize in |
| commercially exploited for monetary gains. So | | | | seeking buyers for your ideas. They act like |
| how does one go about it? | | | | middle man, and some of them have become so |
| There is this thing called intellectual property and | | | | specialized that if you only give them a raw idea, |
| there are proper procedures to get that idea of | | | | they can use their professional expertise to size |
| yours properly documented with the patent | | | | up the idea and sugar coat it so that it appeals to |
| office. You can get your ideas written out as a | | | | a buyer. They also act professionally to get the |
| document and filed as a patent or if it is a logo or | | | | best price for you. However, not all brokers can |
| a brand, you can get it registered as a trademark. | | | | offer you these kinds of services. They have to |
| If you have a book written, or a music score, | | | | be technically competent, as well as idea creators |
| you can get it properly copyrighted. Works of the | | | | themselves, and inventors of some kind. It is |
| mind are automatically deemed copyrighted once | | | | often the case that whatever the idea that you |
| it is published, but you should have a proper | | | | are touting; there is always an element of |
| record of it so that somebody else can’t | | | | incompleteness somewhere. In order to sell an |
| steal your property. However, going the way of | | | | idea, you would need to know who your |
| filing for your intellectual property is a long and | | | | competitors out there are. To do a proper job, |
| costly process. Most people would feel | | | | these professional brokers will need to do a |
| uncomfortable to go this way, and if there is an | | | | proper research in terms of technicality, and |
| easier way, they would certainly want to hear | | | | prices. And who else have such qualifications? Yes, |
| about it. There is of course an easier way, but if | | | | it is the patent agents! They know the implication |
| could reduce the value of that asset. Just what is | | | | of the ideas as they have been drafting patents |
| the alternative to filing patents then? | | | | all along. They also know who the competitors |
| One of the more practical ways is to sell that idea | | | | are out there because they have to research |
| of yours to a company, assuming that you | | | | other people’s patents when they do patent |
| already got a patent grant on it. Here, you can sell | | | | drafting. However it is only recently that such |
| the idea outright, or license the idea to a third | | | | professionals have come to the fore and |
| party for manufacture and sale. Of course you | | | | hopefully, they will bring about a renaissance to |
| will have to do some research first to identify | | | | the field of patent brokering. And if you are |
| who would likely need your idea. It all sounds easy | | | | wondering whether that half-an-idea of yours can |
| right? Unfortunately, it is not, and it is more like | | | | be sold, the answer is ‘YES’. How about |
| looking for the needle in a haystack! For one thing, | | | | half a million? It is better than just dreaming! |
| companies normally will not entertain unsolicited | | | | |